Liberty Financial Companies, Inc.
Exhibit 12 - Statement re Computation of Ratios
($ in millions)
Three Months Ended
March 31
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2000 1999
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Earnings:
Pretax income $47.4 $44.0
Add fixed charges:
Interest on indebtedness 9.8 8.8
Portion of rent representing the interest factor 1.2 1.2
Accretion to face value of redeemable
convertible preferred stock 0.2 0.2
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Sub-total of income as adjusted 58.6 54.2
Interest on fixed annuities and financial products 127.3 134.8
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Total income as adjusted $185.9 $189.0
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Fixed charges:
Interest on indebtedness $9.8 $8.8
Portion of rent representing the interest factor 1.2 1.2
Accretion to face value of redeemable
convertible preferred stock 0.2 0.2
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Sub-total of fixed charges 11.2 10.2
Interest on fixed annuities and financial products 127.3 134.8
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Combined fixed charges 138.5 145.0
Preferred stock dividends 0.3 0.3
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Fixed charges and preferred stock dividends $138.8 $145.3
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Ratio of earnings to fixed charges:
Excluding interest on fixed annuities and
financial products 5.23 x 5.31 x
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Including interest on fixed annuities and
financial products 1.34 x 1.30 x
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Ratio of earnings to combined fixed charges and
preferred stock dividends:
Excluding interest on fixed annuities and
financial products 5.10 x 5.16 x
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Including interest on fixed annuities and
financial products 1.34 x 1.30 x
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