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AMERUS LIFE HOLDINGS, INC.
EXHIBIT 12 - STATEMENT RE: COMPUTATION OF RATIOS
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERENCE SECURITY DIVIDENDS
Years Ended December 31,
1999 1998 1997
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(in thousands)
Earnings
Pre-tax income from continuing operations $ 97,211 $ 88,597 $ 78,381
Less: Income (loss) from equity investees (1,232) (6,072) 13,205
Add: Distributed income from equity investees 1,639 689 4,621
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100,082 95,358 69,797
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Fixed charges 310,921 315,537 98,935
Less: Preference security dividend requirements
not included in net income - 4,697 592
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Net fixed charges 310,921 310,840 98,343
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Total Earnings $ 411,003 $ 406,198 $ 168,140
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Fixed Charges
Interest expense on debt 11,566 15,058 7,961
Interest credited to deferred annuity account balances 281,063 282,465 81,834
Amortization of debt issuance costs 1,538 1,300 1,529
Preference security dividend requirements 16,754 16,714 7,611
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Total Combined Fixed Charges and Preference Security Dividends $ 310,921 $ 315,537 $ 98,935
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Ratio of Earnings to Combined Fixed Charges and
Preference Security Dividends 1.32 1.29 1.70
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Years Ended December 31,
1996 1995
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(in thousands)
Earnings
Pre-tax income from continuing operations $ 116,988 $ 110,550
Less: Income (loss) from equity investees (2,926) (1,356)
Add: Distributed income from equity investees 664 254
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120,578 112,160
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Fixed charges 68,396 80,476
Less: Preference security dividend requirements
not included in net income - -
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Net fixed charges 68,396 80,476
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Total Earnings $ 188,974 $ 192,636
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Fixed Charges
Interest expense on debt 2,142 2,356
Interest credited to deferred annuity account balances 66,254 78,120
Amortization of debt issuance costs - -
Preference security dividend requirements - -
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Total Combined Fixed Charges and Preference Security Dividends $ 68,396 $ 80,476
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Ratio of Earnings to Combined Fixed Charges and
Preference Security Dividends 2.76 2.39
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