EX-12.1 2 snv-06302013xex121.htm RATIO OF EARNINGS TO FIXED CHARGES SNV-06.30.2013-Ex 12.1


EXHIBIT 12.1
SYNOVUS FINANCIAL CORP.
RATIO OF EARNINGS TO FIXED CHARGES
 
 
Six Months Ended June 30, 2013
 
Years Ended December 31,
(dollars in thousands)
 
2012
 
2011
 
2010
 
2009
 
2008
Ratio 1 – Including interest on deposits
 
 
 
 
 
 
 
 
 
 
 
Earnings:
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations before income taxes
$
119,459

 
31,477

 
(59,532
)
 
(849,170
)
 
(1,605,908
)
 
(660,806
)
Fixed charges excluding preferred stock dividends and accretion
63,660

 
158,224

 
226,987

 
342,674

 
506,873

 
787,227

Total
$
183,119

 
189,701

 
167,455

 
(506,496
)
 
(1,099,035
)
 
126,421

Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
Interest on deposits
32,610

 
95,749

 
173,885

 
288,327

 
456,247

 
667,453

Interest on short-term borrowings
170

 
614

 
1,063

 
1,921

 
3,841

 
38,577

Interest on long-term debt
27,232

 
53,659

 
42,654

 
44,000

 
38,791

 
73,657

Portion of rents representative of the interest factor (1/3) of expense
3,648

 
8,202

 
9,385

 
8,426

 
7,994

 
7,540

Preferred stock dividends and accretion
29,594

 
58,704

 
58,088

 
57,510

 
52,395

 
310

Total fixed charges including preferred stock dividends and accretion
$
93,254

 
216,928

 
285,075

 
400,184

 
559,268

 
787,537

Ratio of earnings to fixed charges
1.96x

 
0.87x

 
0.59x

 
(1.27x)

 
(1.97x)

 
0.16x

Ratio 2 – Excluding interest on deposits
 
 
 
 
 
 
 
 
 
 
 
Earnings:
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations before income taxes
$
119,459

 
31,477

 
(59,532
)
 
(849,170
)
 
(1,605,908
)
 
(660,806
)
Fixed charges excluding preferred stock dividends and accretion
31,050

 
62,475

 
53,102

 
54,347

 
50,626

 
119,774

Total
$
150,509

 
93,952

 
(6,430
)
 
(794,823
)
 
(1,555,282
)
 
(541,032
)
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
Interest on short-term borrowings
170

 
614

 
1,063

 
1,921

 
3,841

 
38,577

Interest on long-term debt
27,232

 
53,659

 
42,654

 
44,000

 
38,791

 
73,657

Portion of rents representative of the interest factor (1/3) of expense
3,648

 
8,202

 
9,385

 
8,426

 
7,994

 
7,540

Preferred stock dividends and accretion
29,594

 
58,704

 
58,088

 
57,510

 
52,395

 
310

Total fixed charges including preferred stock dividends and accretion
$
60,644

 
121,179

 
111,190

 
111,857

 
103,021

 
120,084

Ratio of earnings to fixed charges
2.48x

 
0.78x

 
(0.06x)

 
(7.11x)

 
(15.10x)

 
(4.51x)