EXHIBIT 12.1
Primerica, Inc.
Computation of Earnings to Fixed Charges Ratios
(in thousands, except ratios)
| 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||||||
| Earnings: | |||||||||||||||||||||
| 1. | Income before income taxes | $ | 266,888 | $ | 243,909 | $ | 361,469 | $ | 741,795 | $ | 328,445 | ||||||||||
| Fixed charges: | |||||||||||||||||||||
| 2. | Interest expense | 33,101 | 27,968 | 20,872 | — | (1) | — | (1) | |||||||||||||
| 3. | Interest credited on investment-type contracts | 8,300 | 8,584 | 10,180 | 12,997 | 14,683 | |||||||||||||||
| 4. | Interest factor on rental expense | 513 | 498 | 481 | 480 | 480 | |||||||||||||||
| 5. | Total fixed charges (2 + 3 + 4) | 41,914 | 37,050 | 31,533 | 13,477 | 15,163 | |||||||||||||||
| 6. | Earnings before fixed charges (1 + 5) | $ | 308,802 | $ | 280,959 | $ | 393,002 | $ | 755,272 | $ | 343,608 | ||||||||||
| Ratios: | |||||||||||||||||||||
| 7. | Earnings to total fixed charges (6 / 5) | 7.4 | 7.6 | 12.5 | 56.0 | 22.7 | |||||||||||||||
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(1) | Prior to the IPO in Apri1 2010, Primerica had no outstanding long-term debt and, subsequently, did not incur interest expense related to such obligations. |