Exhibit 12
SPRINGLEAF HOLDINGS, INC. AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
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| Successor |
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| Predecessor |
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| Company |
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| Company |
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| One Month |
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| Eleven Months |
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| Year Ended |
| Year Ended |
| Year Ended |
| Ended |
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| Ended |
| Year Ended |
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| December 31, |
| December 31, |
| December 31, |
| December 31, |
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| November 30, |
| December 31, |
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(dollars in thousands) |
| 2013 |
| 2012 |
| 2011 |
| 2010 |
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| 2010 |
| 2009 |
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| Revised |
| Revised |
| Revised |
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| Revised |
| Revised |
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Earnings: |
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Income (loss) before benefit from income taxes |
| $ | 77,557 |
| $ | (305,368 | ) | $ | (360,138 | ) | $ | 1,463,458 |
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| $ | (261,887 | ) | $ | (1,073,602 | ) |
Interest expense |
| 919,749 |
| 1,075,205 |
| 1,284,773 |
| 120,328 |
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| 996,469 |
| 1,091,163 |
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Implicit interest in rents |
| 10,000 |
| 12,115 |
| 12,638 |
| 1,207 |
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| 13,751 |
| 19,738 |
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Total earnings |
| $ | 1,007,306 |
| $ | 781,952 |
| $ | 937,273 |
| $ | 1,584,993 |
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| $ | 748,333 |
| $ | 37,299 |
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Fixed charges: |
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Interest expense |
| $ | 919,749 |
| $ | 1,075,205 |
| $ | 1,284,773 |
| $ | 120,328 |
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| $ | 996,469 |
| $ | 1,091,163 |
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Implicit interest in rents |
| 10,000 |
| 12,115 |
| 12,638 |
| 1,207 |
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| 13,751 |
| 19,738 |
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Total fixed charges |
| $ | 929,749 |
| $ | 1,087,320 |
| $ | 1,297,411 |
| $ | 121,535 |
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| $ | 1,010,220 |
| $ | 1,110,901 |
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Ratio of earnings to fixed charges* |
| 1.08 |
| 0.72 |
| 0.72 |
| 13.04 |
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| 0.74 |
| 0.03 |
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* Earnings did not cover total fixed charges by $305.4 million in 2012, $360.1 million in 2011, $261.9 million during the eleven months ended November 30, 2010, and $1.1 billion in 2009.
We have revised all previously reported periods in this exhibit to correct the errors identified in the fourth quarter of 2013 and to include the out-of-period adjustments previously recorded and disclosed in the appropriate periods. See Item 6 and Note 24 of the Notes to Consolidated Financial Statements in Item 8 for further information on these revisions.