Aflac Incorporated 2nd Quarter 2011 Form 10-Q
Aflac Incorporated and Subsidiaries
Ratio of Earnings to Fixed Charges
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| (In thousands) | 2011 | 2010 | 2011 | 2010 | ||||||||||||
Fixed charges: | ||||||||||||||||
Interest expense(1) | $ | 46,318 | $ | 32,993 | $ | 91,625 | $ | 65,675 | ||||||||
Interest on investment-type contracts | 12,038 | 9,467 | 23,614 | 18,761 | ||||||||||||
Rental expense deemed interest | 232 | 232 | 482 | 482 | ||||||||||||
Total fixed charges | $ | 58,588 | $ | 42,692 | $ | 115,721 | $ | 84,918 | ||||||||
Earnings before income tax(1) | $ | 452,852 | $ | 889,382 | $ | 1,052,578 | $ | 1,863,107 | ||||||||
Add back: | ||||||||||||||||
Total fixed charges | 58,588 | 42,692 | 115,721 | 84,918 | ||||||||||||
Total earnings before income tax and fixed charges | $ | 511,440 | $ | 932,074 | $ | 1,168,299 | $ | 1,948,025 | ||||||||
Ratio of earnings to fixed charges | 8.7x | 21.8x | 10.1x | 22.9x | ||||||||||||
| (1) | Excludes interest expense on income tax liabilities |