Exhibit 12
AMERUS GROUP CO.
EXHIBIT 12 — STATEMENT RE: COMPUTATION OF RATIOS
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
($ in thousands, except ratio data)
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
($ in thousands, except ratio data)
Six Months Ended June 30, | Years Ended December 31, | ||||||||||||||||||||||||||||
2006 | 2005 | 2005 | 2004 | 2003 | 2002 | 2001 | |||||||||||||||||||||||
Earnings | |||||||||||||||||||||||||||||
Pre-tax income from continuing operations | $ | 194,966 | $ | 115,624 | $ | 260,347 | $ | 228,294 | $ | 239,238 | $ | 89,157 | $ | 119,377 | |||||||||||||||
Less: Income (loss) from equity investees | 4,289 | 3,180 | 12,161 | 8,105 | 12,563 | (3,993 | ) | 5,072 | |||||||||||||||||||||
Add: Distributed income from equity investees | 550 | 180 | 1,912 | 564 | 1,521 | 2,591 | 7,730 | ||||||||||||||||||||||
191,227 | 112,624 | 250,098 | 220,753 | 228,196 | 95,741 | 122,035 | |||||||||||||||||||||||
Combined Fixed Charges and Preferred Stock Dividends | 225,640 | 255,800 | 562,900 | 556,985 | 570,646 | 492,093 | 371,667 | ||||||||||||||||||||||
Less: Preferred stock dividends not included in pre-tax income | 5,438 | — | 2,417 | — | — | — | — | ||||||||||||||||||||||
Less: Tax gross up on preferred stock dividends | 2,788 | — | 874 | — | — | — | — | ||||||||||||||||||||||
Total Earnings | $ | 408,641 | $ | 368,424 | $ | 809,707 | $ | 777,738 | $ | 798,842 | $ | 587,834 | $ | 493,702 | |||||||||||||||
Combined Fixed Charges | |||||||||||||||||||||||||||||
Interest credited to policyowners | $ | 198,829 | $ | 238,950 | $ | 506,612 | $ | 523,231 | $ | 538,622 | $ | 464,022 | $ | 341,575 | |||||||||||||||
Interest expense on debt | 17,430 | 15,971 | 32,173 | 32,120 | 30,154 | 25,487 | 26,011 | ||||||||||||||||||||||
Early extinguishment of debt | — | — | 19,082 | — | — | — | — | ||||||||||||||||||||||
Amortization of debt issuance costs | 623 | 465 | 878 | 928 | 1,137 | 985 | 3,155 | ||||||||||||||||||||||
Estimate of interest within rental expense | 532 | 414 | 864 | 706 | 733 | 1,599 | 926 | ||||||||||||||||||||||
Preferred stock dividends | 5,438 | — | 2,417 | — | — | — | — | ||||||||||||||||||||||
Tax gross up on preferred stock dividends | 2,788 | — | 874 | — | — | — | — | ||||||||||||||||||||||
Total Combined Fixed Charges and Preferred Stock Dividends | $ | 225,640 | $ | 255,800 | $ | 562,900 | $ | 556,985 | $ | 570,646 | $ | 492,093 | $ | 371,667 | |||||||||||||||
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends | 1.81 | 1.44 | 1.44 | 1.40 | 1.40 | 1.19 | 1.33 | ||||||||||||||||||||||
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