EXHIBIT 12
HORACE MANN EDUCATORS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
FOR THE YEARS ENDED DECEMBER 31, 1997, 1996, 1995, 1994 AND 1993
(DOLLARS IN MILLIONS)
YEAR ENDED DECEMBER 31,
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1997 1996 1995 1994 1993
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Income from continuing operations
before income taxes $119.6 $100.6 $103.6 $86.2 $112.8
Interest expense 9.4 10.5 11.6 9.5 9.1
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Earnings $129.0 $111.1 $115.2 $95.7 $121.9
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Fixed charges - interest expense $9.4 $ 10.5 $ 11.6 $ 9.5 $9.1
Ratio of earnings to fixed charges 13.7x 10.6x 9.9x 10.1x 13.4x