LIBERTY FINANCIAL COMPANIES, INC.
EXHIBIT 12 - Statement re Computation of Ratios
($ in millions)
Three Months Ended Nine Months Ended
September 30 September 30
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1997 1996 1997 1996
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Earnings:
Pretax income $47.8 $36.4 $143.5 $106.7
Add fixed charges:
Interest on indebtedness 5.3 5.7 16.2 17.2
Portion of rent representing
the interest factor 1.0 1.1 3.1 3.2
Preferred stock dividends 0.2 0.2 0.7 0.7
Accretion to face value
of redeemable convertable
preferred stock 0.2 0.2 0.6 0.6
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Income as adjusted $54.5 $43.6 $164.1 $128.4
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Fixed charges:
Interest on indebtedness $5.3 $ 5.7 $16.2 $ 17.2
Portion of rent representing
the interest factor 1.0 1.1 3.1 3.2
Preferred stock dividends 0.2 0.2 0.7 0.7
Accretion to face value of
redeemable convertible
preferred stock 0.2 0.2 0.6 0.6
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Total fixed charges $6.7 $ 7.2 $20.6 $ 21.7
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Ratio of earnings to fixed
charges 8.13x 6.06x 7.97x 5.92x
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