EXHIBIT 12
UNUM CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
Year Ended December 31,
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1996 1995 1994
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Earnings:
Income from continuing operations before income taxes $341.6 $381.9 $198.6
Add:
Fixed charges 52.2 48.0 29.6
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Earnings as adjusted $393.8 $429.9 $228.2
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Fixed charges:
Interest expense $ 40.7 $ 37.2 $ 18.7
Interest portion of rent expense 11.5 10.8 10.9
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Total fixed charges $ 52.2 $ 48.0 $ 29.6
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Ratio of earnings to fixed charges 7.5 9.0 7.7
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For purposes of computing the ratio of earnings to fixed charges, earnings as
adjusted consist of income from continuing operations before income taxes plus
fixed charges. Fixed charges consist of interest expense and the estimated
interest portion of rent expense.