Exhibit 12
AMERUS GROUP CO.
STATEMENT RE: COMPUTATION OF RATIOS
RATIO OF EARNINGS TO FIXED CHARGES
Nine Months Ended September 30, | ||||||||||||||||||||||||||||
2004 | 2003 | 2003 | 2002 | 2001 | 2000 | 1999 | ||||||||||||||||||||||
($ in thousands) | ||||||||||||||||||||||||||||
Earnings | ||||||||||||||||||||||||||||
Pre-tax income from continuing operations | $ | 147,452 | $ | 177,272 | $ | 239,238 | $ | 89,157 | $ | 119,377 | $ | 115,736 | $ | 101,113 | ||||||||||||||
Less: Minority interest | — | — | — | — | — | 21,677 | 28,107 | |||||||||||||||||||||
Less: Income (loss) from equity investees | 7,678 | 7,679 | 12,563 | (3,993 | ) | 5,072 | 3,481 | (603 | ) | |||||||||||||||||||
Add: Distributed income from equity investees | 1,302 | 2,202 | 1,521 | 2,591 | 7,730 | 4,449 | 1,804 | |||||||||||||||||||||
141,076 | 171,795 | 228,196 | 95,741 | 122,035 | 95,027 | 75,413 | ||||||||||||||||||||||
Fixed charges | 375,645 | 403,522 | 570,646 | 492,093 | 371,667 | 344,363 | 356,617 | |||||||||||||||||||||
Total Earnings | $ | 516,721 | $ | 575,317 | $ | 798,842 | $ | 587,834 | $ | 493,702 | $ | 439,390 | $ | 432,030 | ||||||||||||||
Fixed Charges | ||||||||||||||||||||||||||||
Interest credited to policyowners | $ | 350,275 | $ | 380,133 | $ | 538,622 | $ | 464,022 | $ | 341,575 | $ | 312,008 | $ | 325,941 | ||||||||||||||
Interest expense on debt | 24,144 | 22,238 | 30,154 | 25,487 | 26,011 | 29,723 | 28,983 | |||||||||||||||||||||
Amortization of debt issuance costs | 696 | 602 | 1,137 | 985 | 3,155 | 1,833 | 1,538 | |||||||||||||||||||||
Estimate of interest within rental expense | 530 | 549 | 733 | 1,599 | 926 | 799 | 155 | |||||||||||||||||||||
Total Combined Fixed Charges and Preference Security Dividends | $ | 375,645 | $ | 403,522 | $ | 570,646 | $ | 492,093 | $ | 371,667 | $ | 344,363 | $ | 356,617 | ||||||||||||||
Ratio of Earnings to Fixed Charges | 1.38 | 1.43 | 1.40 | 1.19 | 1.33 | 1.28 | 1.21 | |||||||||||||||||||||