EX-12.1 3 snv-03312018xex121.htm EXHIBIT 12.1 Exhibit


EXHIBIT 12.1
SYNOVUS FINANCIAL CORP.
RATIO OF EARNINGS TO FIXED CHARGES
 

 
Three Months
Ended March 31, 2018
 
Years Ended December 31,
(dollars in thousands)
 
2017
 
2016
 
2015
 
2014
 
2013
 
Ratio 1 – Including interest on deposits
 
 
 
 
 
 
 
 
 
 
 
 
Earnings:
 
 
 
 
 
 
 
 
 
 
 
 
Income before income taxes
$
133,375

 
480,138

 
388,450

 
358,573

 
302,559

 
252,628

 
Fixed charges excluding preferred stock dividends and accretion
41,035

 
146,511

 
130,745

 
126,355

 
117,001

 
126,379

 
Total
$
174,410

 
626,649

 
519,195

 
484,928

 
419,560

 
379,007

 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
Interest on deposits
26,375

 
81,325

 
64,206

 
65,534

 
55,179

 
64,392

 
Interest on short-term borrowings
107

 
198

 
200

 
168

 
220

 
324

 
Interest on long-term debt
12,368

 
57,665

 
59,217

 
52,942

 
54,009

 
54,106

 
Portion of rents representative of the interest factor (1/3) of expense
2,185

 
7,323

 
7,121

 
7,711

 
7,593

 
7,557

 
Preferred stock dividends and accretion
2,559

 
10,238

 
10,238

 
10,238

 
10,238

 
40,830

 
Total fixed charges including preferred stock dividends and accretion
$
43,594

 
156,749

 
140,982

 
136,593

 
127,239

 
167,209

 
Ratio of earnings to fixed charges
4.00
x
 
4.00
x
 
3.68
x
 
3.55
x
 
3.30
x
 
2.27x

 
Ratio 2 – Excluding interest on deposits
 
 
 
 
 
 
 
 
 
 
 
 
Earnings:
 
 
 
 
 
 
 
 
 
 
 
 
Income before income taxes
$
133,375

 
480,138

 
388,450

 
358,573

 
302,559

 
252,628

 
Fixed charges excluding preferred stock dividends and accretion
14,660

 
65,186

 
66,539

 
60,821

 
61,822

 
61,987

 
Total
$
148,035

 
545,324

 
454,989

 
419,394

 
364,381

 
314,615

 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
Interest on short-term borrowings
107

 
198

 
200

 
168

 
220

 
324

 
Interest on long-term debt
12,368

 
57,665

 
59,217

 
52,942

 
54,009

 
54,106

 
Portion of rents representative of the interest factor (1/3) of expense
2,185

 
7,323

 
7,121

 
7,711

 
7,593

 
7,557

 
Preferred stock dividends and accretion
2,559

 
10,238

 
10,238

 
10,238

 
10,238

 
40,830

 
Total fixed charges including preferred stock dividends and accretion
$
17,219

 
75,424

 
76,776

 
71,059

 
72,060

 
102,817

 
Ratio of earnings to fixed charges
8.60
x
 
7.23
x
 
5.93
x
 
5.90
x
 
5.06
x
 
3.06x