EX-12.1 7 g90646exv12w1.txt EX-12.1 COMPUTATION OF THE RATIO EARNINGS TO FIXED CHARGES . . . Exhibit 12.1 SUNTRUST BANKS, INC. Ratio of Earnings to Fixed Charges (In thousands)
Six Months Ended June 30 Year Ended December 31 ---------------------- ---------------------------------------------------------------------- 2004 2003 2003 2002 2001 2000 1999 1998 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- INCLUDING DEPOSIT INTEREST Earnings: Income before income taxes and extraordinary gain ............. $1,025,492 $ 947,012 $1,909,138 $1,823,324 $2,029,440 $1,919,556 $1,695,657 $1,498,306 Fixed charges .................... 658,977 790,982 1,490,092 1,932,209 3,065,973 3,775,173 2,852,180 2,784,251 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- Total .......................... $1,684,469 $1,737,994 $3,399,230 $3,755,533 $5,095,413 $5,694,729 $4,547,837 $4,282,557 ========== ========== ========== ========== ========== ========== ========== ========== Fixed charges: Interest on deposits ............. $ 318,064 $ 431,169 $ 771,631 $1,117,296 $1,812,385 $2,452,919 $1,626,132 $1,644,229 Interest on funds purchased and securities sold under agreements to repurchase ....... 39,725 62,298 106,174 140,463 412,218 651,235 749,561 634,086 Interest on other short-term borrowings ..................... 14,625 3,876 33,511 14,062 63,359 97,903 79,521 127,800 Interest on long-term debt ....... 265,447 272,835 537,223 619,667 739,012 534,924 359,538 340,664 Portion of rents representative of the interest factor (1/3) of rental expense ........ 21,116 20,804 41,553 40,721 38,999 38,192 37,428 37,472 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- Total ........................ $ 658,977 $ 790,982 $1,490,092 $1,932,209 $3,065,973 $3,775,173 $2,852,180 $2,784,251 ========== ========== ========== ========== ========== ========== ========== ========== Earnings to fixed charges .......... 2.56x 2.20x 2.28x 1.94x 1.66x 1.51x 1.59x 1.54x EXCLUDING DEPOSIT INTEREST Earnings: Income before income taxes and extraordinary gain ............. $1,025,492 $ 947,012 $1,909,138 $1,823,324 $2,029,440 $1,919,556 $1,695,657 $1,498,306 Fixed charges .................... 340,913 359,813 718,461 814,913 1,253,588 1,322,254 1,226,048 1,140,022 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- Total .......................... $1,366,405 $1,306,825 $2,627,599 $2,638,237 $3,283,028 $3,241,810 $2,921,705 $2,638,328 ========== ========== ========== ========== ========== ========== ========== ========== Fixed charges: Interest on funds purchased and securities sold under agreements to repurchase ....... $ 39,725 $ 62,298 $ 106,174 $ 140,463 $ 412,218 $ 651,235 $ 749,561 $ 634,086 Interest on other short-term borrowings ..................... 14,625 3,876 33,511 14,062 63,359 97,903 79,521 127,800 Interest on long-term debt ....... 265,447 272,835 537,223 619,667 739,012 534,924 359,538 340,664 Portion of rents representative of the interest factor (1/3) of rental expense ........ 21,116 20,804 41,553 40,721 38,999 38,192 37,428 37,472 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- Total ........................ $ 340,913 $ 359,813 $ 718,461 $ 814,913 $1,253,588 $1,322,254 $1,226,048 $1,140,022 ========== ========== ========== ========== ========== ========== ========== ========== Earnings to fixed charges .......... 4.01x 3.63x 3.66x 3.24x 2.62x 2.45x 2.38x 2.31x