LIBERTY FINANCIAL COMPANIES, INC.
EXHIBIT 12 - STATEMENT RE COMPUTATION OF RATIOS
($ IN MILLIONS)
Years Ended December 31
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1999 1998 1997
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Earnings:
Pretax income $ 154.4 $ 178.9 $ 192.1
Add fixed charges:
Interest on indebtedness 36.6 24.1 21.4
Portion of rent representing the interest factor 4.9 4.1 3.7
Accretion to face value of redeemable convertible preferred stock 0.8 0.8 0.8
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Sub-total of income as adjusted 196.7 207.9 218.0
Interest on fixed annuities and financial products 526.6 562.2 594.1
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Total income as adjusted $723.3 $ 770.1 $ 812.1
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Fixed charges:
Interest on indebtedness $ 36.6 $ 24.1 $ 21.4
Portion of rent representing the interest factor 4.9 4.1 3.7
Accretion to face value of redeemable convertible preferred stock 0.8 0.8 0.8
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Sub-total of fixed charges 42.3 29.0 25.9
Interest on fixed annuities and financial products 526.6 562.2 594.1
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Sub-total of fixed charges 568.9 591.2 620.0
Preferred stock dividends 1.4 1.4 1.4
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Total fixed charges $570.3 $592.6 $621.4
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Ratio of earnings to fixed charges:
Excluding interest on fixed annuities and financial products 4.65 x 7.17 x 8.42 x
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Including interest on fixed annuities and financial products 1.27 x 1.30 x 1.31 x
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Ratio of earnings to combined fixed charges and preferred stock dividends:
Excluding interest on fixed annuities and financial products 4.50 x 6.84 x 7.99 x
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Including interest on fixed annuities and financial products 1.27 x 1.30 x 1.31 x
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