Globe Life (GL) 10-K 2011 FY Annual report

Exhibit 12. Statement re computation of ratios

TORCHMARK CORPORATION

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollar amounts in thousands)

	Year Ended December 31,
	2011		2010		2009		2008		2007
Earnings:
Pre-tax earnings	$	755,666	$	778,567	$	577,076	$	628,400	$	739,956
Fixed charges		79,481		77,152		71,570		64,918		69,532
Earnings before fixed charges	$	835,147		855,719		648,646	$	693,318	$	809,488
Fixed charges:
Interest expense*	$	76,980	$	74,669	$	69,260	$	62,721	$	67,089
Amortization of bond issue costs		928		860		672		508		475
Estimated interest factor of rental expenses		1,573		1,623		1,638		1,689		1,968
Total fixed charges	$	79,481	$	77,152	$	71,570	$	64,918	$	69,532
Ratio of earnings to fixed charges		10.5		11.1		9.1		10.7		11.6
Earnings before fixed charges	$	835,147	$	855,719	$	648,646	$	693,318	$	809,488
Interest credited for deposit products		70,746		69,742		64,799		57,176		52,403
Adjusted earnings before fixed charges	$	905,893	$	925,461	$	713,445	$	750,494	$	861,891
Fixed charges	$	79,481	$	77,152	$	71,570	$	64,918	$	69,532
Interest credited for deposit products		70,746		69,742		64,799		57,176		52,403
Adjusted fixed charges	$	150,227	$	146,894	$	136,369	$	122,094	$	121,935
Ratio of earnings to fixed charges including interest credited on deposit products as a fixed charge		6.0		6.3		5.2		6.1		7.1
Rental expense	$	4,767	$	4,919	$	4,963	$	5,117	$	5,964
Estimated interest factor of rental expense (33%)	$	1,573	$	1,623	$	1,638	$	1,689	$	1,968

* There was no interest capitalized in any period indicated.