Discontinued Operations

12 Months Ended

Dec. 31, 2012

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

On March 31, 2010 Synovus sold its merchant services business. Accordingly, the revenues and expenses of the merchant services business for the year ended December 31, 2010 have been reported as discontinued operations. Income from discontinued operations for the year ended December 31, 2010 includes the gain on sale of this business.

The following amounts have been segregated from continuing operations and included in income from discontinued operations, net of income taxes, in the consolidated statements of operations. There were no discontinued operations for the years ended December 31, 2012 and 2011.

(in thousands)	2010
Merchant services revenues	73,926	(1)
Merchant services expense	3,285
Merchant services income, before income taxes	70,641	(1)
Income tax expense	27,479
Income from discontinued operations, net of income taxes	43,162	(1)

⁽¹⁾  Includes a pre-tax gain of $69.5 million ($42.4 million net of tax) from the sale of the merchant services business in March 2010.

Cash flows from discontinued operations were limited to revenues and expenses of discontinued operations as components of income from discontinued operations, net of income taxes. The proceeds from sale of the merchant services business are included as a component of net cash provided by the proceeds from the sale of the merchant services businesswithin the investing section of the Consolidated Statement of Cash Flows and the gain on sale of merchant services business, included as a component of net cash provided by operating activities in the Consolidated Statement of Cash Flows for the year ended December 31, 2010.