LIBERTY FINANCIAL COMPANIES, INC.
EXHIBIT 12 - Statement re Computation of Ratios
($ in millions)
Three Months Ended Six Months Ended
June 30 June 30
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1997 1996 1997 1996
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Pretax income $ 43.9 $ 34.0 $ 95.7 $ 70.3
Add fixed charges:
Interest on indebtedness 5.4 5.8 10.9 11.5
Portion of rent
representing the interest
factor 1.0 1.0 2.1 2.1
Preferred stock dividends 0.3 0.3 0.5 0.5
Accretion to face value
of redeemable convertible
preferred stock 0.2 0.2 0.4 0.4
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Income as adjusted $ 50.8 $ 41.3 $109.6 $ 84.8
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Fixed charges:
Interest on indebtedness $ 5.4 $ 5.8 $ 10.9 $ 11.5
Portion of rent
representing the interest
factor 1.0 1.0 2.1 2.1
Preferred stock dividends 0.3 0.3 0.5 0.5
Accretion to face value of
redeemable convertible
preferred stock 0.2 0.2 0.4 0.4
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Total fixed charges $ 6.9 $ 7.3 $ 13.9 $ 14.5
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Ratio of earnings to fixed
charges 7.36x 5.66x 7.88x 5.85x
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