Exhibit 12
SPRINGLEAF FINANCE CORPORATION AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges (Unaudited)
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| Three Months |
| Three Months |
| Nine Months |
| Nine Months |
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|
| Ended |
| Ended |
| Ended |
| Ended |
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|
| September 30, |
| September 30, |
| September 30, |
| September 30, |
| ||||
(dollars in thousands) |
| 2012 |
| 2011 |
| 2012 |
| 2011 |
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Earnings: |
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Loss before benefit from income taxes |
| $ | (77,119 | ) | $ | (57,041 | ) | $ | (215,668 | ) | $ | (243,740 | ) |
Interest expense |
| 267,085 |
| 302,048 |
| 823,334 |
| 967,788 |
| ||||
Implicit interest in rents |
| 2,504 |
| 3,075 |
| 9,712 |
| 9,550 |
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Total earnings |
| $ | 192,470 |
| $ | 248,082 |
| $ | 617,378 |
| $ | 733,598 |
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Fixed charges: |
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Interest expense |
| $ | 267,085 |
| $ | 302,048 |
| $ | 823,334 |
| $ | 967,788 |
|
Implicit interest in rents |
| 2,504 |
| 3,075 |
| 9,712 |
| 9,550 |
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Total fixed charges |
| $ | 269,589 |
| $ | 305,123 |
| $ | 833,046 |
| $ | 977,338 |
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Ratio of earnings to fixed charges* |
| 0.71 |
| 0.81 |
| 0.74 |
| 0.75 |
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* Earnings did not cover total fixed charges by $77.1 million for the three months ended September 30, 2012 and $215.7 million for the nine months ended September 30, 2012. Earnings did not cover total fixed charges by $57.0 million for the three months ended September 30, 2011 and $243.7 million for the nine months ended September 30, 2011.