Exhibit 12
SPRINGLEAF FINANCE CORPORATION AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
| (dollars in thousands) | Successor Company | Predecessor Company | Successor Company | Predecessor Company | ||||||||||||||||
| Three Months Ended June 30, 2011 | Three Months Ended June 30, 2010 | Six Months Ended June 30, 2011 | Six Months Ended June 30, 2010 | |||||||||||||||||
Earnings: | ||||||||||||||||||||
Loss before benefit from income taxes | $ | (99,375 | ) | $ | (9,789 | ) | $ | (186,699 | ) | $ | (48,412 | ) | ||||||||
Interest expense | 343,810 | 266,386 | 694,443 | 523,379 | ||||||||||||||||
Implicit interest in rents | 3,040 | 4,038 | 6,475 | 7,746 | ||||||||||||||||
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Total earnings | $ | 247,475 | $ | 260,635 | $ | 514,219 | $ | 482,713 | ||||||||||||
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Fixed charges: | ||||||||||||||||||||
Interest expense | $ | 343,810 | $ | 266,386 | $ | 694,443 | $ | 523,379 | ||||||||||||
Implicit interest in rents | 3,040 | 4,038 | 6,475 | 7,746 | ||||||||||||||||
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Total fixed charges | $ | 346,850 | $ | 270,424 | $ | 700,918 | $ | 531,125 | ||||||||||||
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Ratio of earnings to fixed charges* | 0.71 | 0.96 | 0.73 | 0.91 | ||||||||||||||||
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| * | 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. Earnings did not cover total fixed charges by $9.8 million for the three months ended June 30, 2010 and $48.4 million for the six months ended June 30, 2010. |
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