EXHIBIT 12 | ||||||
STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES | ||||||
($ amounts in millions) | ||||||
Six Months Ended June 30, 2005 and 2004 | ||||||
2005 | 2004 | |||||
Income (loss) from continuing operations before income taxes, minority interest and | ||||||
earnings attributed to mandatorily redeemable noncontrolling interests(1) | $ 50.4 | $ 50.7 | ||||
| ||||||
Less: Equity in earnings (losses) of venture capital partnership investments | 0.5 | 16.0 | ||||
| ||||||
Add: Distributed earnings of affiliates | 0.8 | 0.7 | ||||
Distributed earnings of venture capital partnership investments | 27.7 | 31.8 | ||||
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|
| ||||
Income (loss) from continuing operations before income taxes, minority interest and | $ 78.4 | $ 67.2 | ||||
Fixed Charges: | ||||||
Interest expense on indebtedness(2) | $ 22.5 | $ 19.7 | ||||
Stock purchase contract adjustment payments | 4.1 | 4.1 | ||||
Rental expense | 0.5 | 1.3 | ||||
Fixed charges, exclusive of interest credited on policyholder contract balances | $ 27.1 | $ 25.1 | ||||
Interest credited on policyholder contract balances | 94.4 | 98.0 | ||||
Total fixed charges, inclusive of interest credited on policyholder contract balances | $ 121.5 | $ 123.1 | ||||
Income (loss) from continuing operations before income taxes, minority interest, | $ 199.9 | $ 190.3 | ||||
Ratio of earnings to fixed charges | 1.6 | 1.5 | ||||
Additional earnings required to achieve 1:1 ratio coverage | $ - | $ - | ||||
SUPPLEMENTAL RATIO — ratio of earnings to fixed charges | ||||||
Income (loss) from continuing operations before income taxes, minority interest and | $ 78.4 | $ 67.2 | ||||
Fixed Charges: | $ 27.1 | $ 25.1 | ||||
Income (loss) from continuing operations before income taxes, minority interest and | $ 105.5 | $ 92.3 | ||||
Ratio of earnings to fixed charges | 3.9 | 3.7 | ||||
Additional earnings required to achieve 1:1 ratio coverage | $ - | $ - | ||||
(1) Earnings attributed to mandatorily redeemable noncontrolling interests included in Other operating expenses for | ||||||
(2) Interest expense on collateralized obligations is not included as these are non-recourse liabilities to Phoenix and |
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10-Q Filing
Phoenix Companies (PNX) Inactive 10-Q2005 Q2 Quarterly report
Filed: 9 Aug 05, 12:00am