Exhibit 12
SPRINGLEAF FINANCE CORPORATION AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
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| Three Months |
| Three Months |
| Six Months |
| Six Months |
| ||||
|
| Ended |
| Ended |
| Ended |
| Ended |
| ||||
|
| June 30, |
| June 30, |
| June 30, |
| June 30, |
| ||||
(dollars in thousands) |
| 2012 |
| 2011 |
| 2012 |
| 2011 |
| ||||
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Earnings: |
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Loss before benefit from income taxes |
| $ | (66,518 | ) | $ | (99,375 | ) | $ | (138,549 | ) | $ | (186,699 | ) |
Interest expense |
| 275,669 |
| 330,972 |
| 556,249 |
| 665,740 |
| ||||
Implicit interest in rents |
| 2,520 |
| 3,040 |
| 7,208 |
| 6,475 |
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Total earnings |
| $ | 211,671 |
| $ | 234,637 |
| $ | 424,908 |
| $ | 485,516 |
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Fixed charges: |
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|
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Interest expense |
| $ | 275,669 |
| $ | 330,972 |
| $ | 556,249 |
| $ | 665,740 |
|
Implicit interest in rents |
| 2,520 |
| 3,040 |
| 7,208 |
| 6,475 |
| ||||
Total fixed charges |
| $ | 278,189 |
| $ | 334,012 |
| $ | 563,457 |
| $ | 672,215 |
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Ratio of earnings to fixed charges* |
| 0.76 |
| 0.70 |
| 0.75 |
| 0.72 |
|
* Earnings did not cover total fixed charges by $66.5 million for the three months ended June 30, 2012 and $138.5 million for the six months ended June 30, 2012. Earnings did not cover total fixed charges by $99.4 million for the three months ended June 30, 2011 and $186.7 million for the six months ended June 30, 2011.