LIBERTY FINANCIAL COMPANIES, INC.
EXHIBIT 12 - Statement re Computation of Ratios
($ in thousands)
Three Months Ended Six Months Ended
June 30 June 30
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1996 1995 1996 1995
Earnings:
Income before income taxes $34,054 $32,349 $70,328 $50,555
Add fixed charges:
Interest on indebtness 5,036 5,266 10,056 6,769
Portion of rent representing
the interest factor 1,079 1,024 2,146 1,680
Preferred stock dividends 235 236 471 254
Accretion to face value of
redeemable convertible
preferred stock 195 197 392 197
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Income as adjusted $40,599 $39,072 $83,393 $59,455
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Fixed charges:
Interest on indebtedness $5,036 $5,266 $10,056 $6,769
Portion of rent representing
the interest factor 1,079 1,024 2,146 1,680
Preferred stock dividends 235 236 471 254
Accretion to face value of
redeemable convertible
preferred stock 195 197 392 197
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Total fixed charges $6,545 $6,723 $13,065 $8,900
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Ratio of earnings to fixed charges 6.20x 5.81x 6.38x 6.68x
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