Exhibit 7.1
RATIO OF EARNINGS TO FIXED CHARGES
Years ended December 31, | |||||||||||
2002* | 2001 | 2000* | 1999 | 1998 | |||||||
(In million EUR, except ratios) | |||||||||||
Dutch Accounting Principles | |||||||||||
Earnings: | |||||||||||
Income before taxes | 1,849 | 3,243 | 2,839 | 2,181 | 1,634 | ||||||
Add: fixed charges | 3,410 | 3,752 | 3,285 | 2,214 | 2,329 | ||||||
5,259 | 6,995 | 6,124 | 4,395 | 3,963 | |||||||
Fixed charges: | |||||||||||
Interest | 730 | 862 | 796 | 759 | 738 | ||||||
Interest on fixed annuities and GICs/ funding agreements | 2,650 | 2,887 | 2,487 | 1,453 | 1,588 | ||||||
Dividend on preferred shares | 30 | 3 | 2 | 2 | 3 | ||||||
3,410 | 3,752 | 3,285 | 2,214 | 2,329 | |||||||
Ratio: | 1.5 | 1.9 | 1.9 | 2.0 | 1.7 | ||||||
Ratio excluding interest on fixed annuities and GICs/funding agreements: | 3.4 | 4.7 | 4.6 | 3.9 | 3.2 | ||||||
US GAAP1 | |||||||||||
Earnings: | |||||||||||
Income from continuing operations before taxes | (841 | ) | 1,158 | 3,492 | 1,950 | 1,928 | |||||
Add: fixed charges | 3,649 | 4,271 | 4,128 | 2,528 | 2,329 | ||||||
2,808 | 5,429 | 7,620 | 4,478 | 4,257 | |||||||
Fixed charges: | |||||||||||
Interest | 969 | 1,381 | 1,639 | 1,073 | 738 | ||||||
Interest on fixed annuities and GICs/ funding agreements | 2,650 | 2,887 | 2,487 | 1,453 | 1,588 | ||||||
Dividend on preferred shares | 30 | 3 | 2 | 2 | 3 | ||||||
3,649 | 4,271 | 4,128 | 2,528 | 2,329 | |||||||
Ratio: | NM | 1.3 | 1.8 | 1.8 | 1.8 | ||||||
Ratio excluding interest on fixed annuities and GICs/funding agreements: | NM | 1.8 | 3.1 | 2.8 | 3.6 | ||||||
Deficiency | (841 | ) |
1 | Prior periods have been adjusted for the consolidation of Transamerica Finance Corporation for US GAAP purposes. |
* | Reflects restatement of certain US GAAP information described in Note 5. |
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