LIBERTY FINANCIAL COMPANIES, INC.
EXHIBIT 12 - STATEMENT RE COMPUTATION OF RATIOS
($ in millions)
THREE MONTHS ENDED
MARCH 31
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2001 2000
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Earnings:
Pretax income $ 0.8 $ 62.4
Add fixed charges:
Interest on indebtedness 15.2 9.8
Portion of rent representing the interest factor 1.6 1.2
Accretion to face value of redeemable
convertible preferred stock -- 0.2
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Sub-total of income as adjusted 17.6 73.6
Interest on fixed annuities and financial products 148.5 127.3
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Total income as adjusted $166.1 $200.9
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Fixed charges:
Interest on indebtedness $15.2 $9.8
Portion of rent representing the interest factor 1.6 1.2
Accretion to face value of redeemable
convertible preferred stock -- 0.2
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Sub-total of fixed charges 16.8 11.2
Interest on fixed annuities and financial products 148.5 127.3
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Combined fixed charges 165.3 138.5
Preferred stock dividends 0.2 0.3
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Fixed charges and preferred stock dividends $165.5 $138.8
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Ratio of earnings to fixed charges:
Excluding interest on fixed annuities and financial products 1.05 x 6.57 x
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Including interest on fixed annuities and financial products 1.00 x 1.45 x
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Ratio of earnings to combined fixed charges and preferred stock dividends:
Excluding interest on fixed annuities and financial products 1.04 x 6.40 x
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Including interest on fixed annuities and financial products 1.00 x 1.45 x
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