Exhibit 12 STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES ($ amounts in millions) Nine Months Ended September 30, 2003 and 2002 2003 2002 ----------- ------------ Income (loss) before income taxes and minority interest $(55.7) $ (132.5) Less: Equity in earnings (losses) of affiliates 0.8 8.5 Equity in earnings (losses) of venture capital partnership investments 34.8 (56.9) Add: Distributed earnings of affiliates 1.2 2.9 Distributed earnings of venture capital partnership investments 21.2 10.2 ----------- ------------ Income (loss) before income taxes, minority interest and equity in undistributed earnings of affiliates and venture capital partnership investments $(68.9) $(71.0) =========== ============ Fixed Charges: Interest expense $ 29.5 $ 23.1 Stock purchase contract adjustment payments 5.9 0.0 Rental expense 1.9 2.1 ----------- ------------ Total fixed charges $ 37.3 $ 25.2 =========== ============ Income (loss) before income taxes, minority interest, equity in undistributed earnings of affiliates and venture capital partnership investments and fixed charges $(31.6) $(45.8) =========== ============ Ratio of earnings to fixed charges - - =========== ============ Additional earnings required to achieve 1:1 ratio coverage $ 68.9 $ 71.0 =========== ============ SUPPLEMENTAL RATIO - ratio of earnings to fixed charges inclusive of interest credited on policyholder contract balances: Income (loss) before income taxes, minority interest and equity in undistributed earnings of affiliates and venture capital partnership investments $(68.9) $(71.0) =========== ============ Fixed Charges: Total fixed charges, as above $ 37.3 $ 25.2 Interest credited on policyholder contract balances 156.2 130.9 ----------- ------------ Total fixed charges, inclusive of interest credited on policyholder contract balances $193.5 $156.1 =========== ============ Adjusted income before income taxes, minority interest and equity in undistributed earnings of affiliates and venture capital partnership investments plus fixed charges, inclusive of interest credited on policyholder contract balances $124.6 $ 85.1 =========== ============ Ratio of earnings to fixed charges including interest credited on policyholder contract balances 0.6 0.5 =========== ============ Additional earnings required to achieve 1:1 ratio coverage $ 68.9 $ 71.0 =========== ============
- PNX Dashboard
- Filings
- ETFs
- Insider
- Institutional
-
10-Q Filing
Phoenix Companies (PNX) Inactive 10-Q2003 Q4 Quarterly report
Filed: 13 Nov 03, 12:00am