Exhibit 12
SPRINGLEAF FINANCE CORPORATION AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges (Unaudited)
|
| Three Months |
| Three Months |
| Nine Months |
| Nine Months |
| ||||
|
| Ended |
| Ended |
| Ended |
| Ended |
| ||||
|
| September 30, |
| September 30, |
| September 30, |
| September 30, |
| ||||
(dollars in thousands) |
| 2013 |
| 2012 |
| 2013 |
| 2012 |
| ||||
|
|
|
|
|
|
|
|
|
| ||||
Earnings: |
|
|
|
|
|
|
|
|
| ||||
Loss before benefit from income taxes |
| $ | (147,064 | ) | $ | (77,119 | ) | $ | (115,687 | ) | $ | (215,668 | ) |
Interest expense |
| 205,036 |
| 267,085 |
| 646,932 |
| 823,334 |
| ||||
Implicit interest in rents |
| 2,034 |
| 2,504 |
| 6,873 |
| 9,712 |
| ||||
Total earnings |
| $ | 60,006 |
| $ | 192,470 |
| $ | 538,118 |
| $ | 617,378 |
|
|
|
|
|
|
|
|
|
|
| ||||
Fixed charges: |
|
|
|
|
|
|
|
|
| ||||
Interest expense |
| $ | 205,036 |
| $ | 267,085 |
| $ | 646,932 |
| $ | 823,334 |
|
Implicit interest in rents |
| 2,034 |
| 2,504 |
| 6,873 |
| 9,712 |
| ||||
Total fixed charges |
| $ | 207,070 |
| $ | 269,589 |
| $ | 653,805 |
| $ | 833,046 |
|
|
|
|
|
|
|
|
|
|
| ||||
Ratio of earnings to fixed charges* |
| 0.29 |
| 0.71 |
| 0.82 |
| 0.74 |
|
* Earnings did not cover total fixed charges by $147.1 million for the three months ended September 30, 2013 and $115.7 million for the nine months ended September 30, 2013. 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.