EXHIBIT 12.1
SYNOVUS FINANCIAL CORP.
RATIO OF EARNINGS TO FIXED CHARGES
Years Ended December 31, | ||||||||||||||||
(dollars in thousands) | 2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||
Ratio 1 – Including Interest on Deposits | ||||||||||||||||
Earnings: | ||||||||||||||||
Income from continuing operations before income taxes | $ | 388,450 | $ | 358,573 | 302,559 | 252,628 | 31,477 | |||||||||
Fixed charges excluding preferred stock dividends and accretion | 130,745 | 126,355 | 117,001 | 126,379 | 158,224 | |||||||||||
Total | 519,195 | 484,928 | 419,560 | 379,007 | 189,701 | |||||||||||
Fixed Charges: | ||||||||||||||||
Interest on deposits | 64,206 | 65,534 | 55,179 | 64,392 | 95,749 | |||||||||||
Interest on short-term borrowings | 200 | 168 | 220 | 324 | 614 | |||||||||||
Interest on long-term debt | 59,217 | 52,942 | 54,009 | 54,106 | 53,659 | |||||||||||
Portion of rents representative of the interest factor (1/3) of expense | 7,121 | 7,711 | 7,593 | 7,557 | 8,202 | |||||||||||
Preferred stock dividends and accretion | 10,238 | 10,238 | 10,238 | 40,830 | 58,704 | |||||||||||
Total fixed charges including preferred stock dividends and accretion | $ | 140,982 | $ | 136,593 | 127,239 | 167,209 | 216,928 | |||||||||
Ratio of earnings to fixed charges | 3.68 | x | 3.55 | x | 3.30 | x | 2.27 | x | 0.87 | x | ||||||
Ratio 2 – Excluding Interest on Deposits | ||||||||||||||||
Earnings: | ||||||||||||||||
Income from continuing operations before income taxes | $ | 388,450 | $ | 358,573 | 302,559 | 252,628 | 31,477 | |||||||||
Fixed charges excluding preferred stock dividends and accretion | 66,539 | 60,821 | 61,822 | 61,987 | 62,475 | |||||||||||
Total | 454,989 | 419,394 | 364,381 | 314,615 | 93,952 | |||||||||||
Fixed Charges: | ||||||||||||||||
Interest on short-term borrowings | 200 | 168 | 220 | 324 | 614 | |||||||||||
Interest on long-term debt | 59,217 | 52,942 | 54,009 | 54,106 | 53,659 | |||||||||||
Portion of rents representative of the interest factor (1/3) of expense | 7,121 | 7,711 | 7,593 | 7,557 | 8,202 | |||||||||||
Preferred stock dividends and accretion | 10,238 | 10,238 | 10,238 | 40,830 | 58,704 | |||||||||||
Total fixed charges including preferred stock dividends and accretion | $ | 76,776 | $ | 71,059 | 72,060 | 102,817 | 121,179 | |||||||||
Ratio of earnings to fixed charges | 5.93 | x | 5.90 | x | 5.06 | x | 3.06 | x | 0.78 | x |