LIBERTY FINANCIAL COMPANIES, INC.
EXHIBIT 12 - Statement re Computation of Ratios
($ in thousands)
Three Months Ended Nine Months Ended
September 30 September 30
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1996 1995 1996 1995
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Earnings:
Pretax income $36,402 $32,689 $106,730 $83,244
Add fixed charges:
Interest on indebtedness 4,930 4,682 14,986 11,451
Portion of rent representing
the interest factor 1,074 1,168 3,220 3,007
Preferred stock dividends 236 236 707 490
Accretion to face value
of redeemable convertible
preferred stock 197 197 590 395
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Income as adjusted $42,839 $38,972 $126,233 $98,587
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Fixed charges:
Interest on indebtedness $4,930 $4,682 $14,986 $11,451
Portion of rent representing
the interest factor 1,074 1,168 3,220 3,007
Preferred stock dividends 236 236 707 490
Accretion to face value of
redeemable convertible preferred
stock 197 197 590 395
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Total fixed charges $6,437 $6,283 $19,503 $15,343
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Ratio of earnings to fixed
charges 6.66 x 6.20 x 6.47 x 6.43 x
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