LIBERTY FINANCIAL COMPANIES, INC.
EXHIBIT 12 - Statement re Computation of Ratios
($ in millions)
Years Ended December 31
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2000 1999 1998
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Earnings:
Pretax income $ 188.6 $ 154.4 $ 178.9
Add fixed charges:
Interest on indebtedness 45.4 36.6 24.1
Portion of rent representing
the interest factor 5.7 4.9 4.1
Accretion to face value of redeemable
convertible preferred stock 0.2 0.8 0.8
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Sub-total of income as adjusted 239.9 196.7 207.9
Interest on fixed annuities and financial products 539.6 526.6 562.2
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Total income as adjusted $ 779.5 $ 723.3 $ 770.1
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Fixed charges:
Interest on indebtedness $ 45.4 $ 36.6 $ 24.1
Portion of rent representing
the interest factor 5.7 4.9 4.1
Accretion to face value of redeemable
convertible preferred stock 0.2 0.8 0.8
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Sub-total of fixed charges 51.3 42.3 29.0
Interest on fixed annuities and financial products 539.6 526.6 562.2
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Sub-total of fixed charges 590.9 568.9 591.2
Preferred stock dividends 1.2 1.4 1.4
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Total fixed charges $ 592.1 $ 570.3 $ 592.6
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Ratio of earnings to fixed charges:
Excluding interest on fixed annuities and
financial products 4.68x 4.65x 7.17x
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Including interest on fixed annuities and
financial products 1.32x 1.27x 1.30x
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Ratio of earnings to combined fixed charges and
preferred stock dividends:
Excluding interest on fixed annuities and
financial products 4.57x 4.50x 6.84x
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Including interest on fixed annuities and
financial products 1.32x 1.27x 1.30x
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