Exhibit 12.1
AETNA INC.
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
<TABLE>
Nine Months
Ended
September 30, Years Ended December 31,
------------- ------------------------------------------------------
2000 1999 1998 1997 1996 1995
-------- -------- -------- -------- -------- --------
(Millions)
<S> <C> <C> <C> <C> <C> <C>
Pretax income (loss) from continuing
operations............................ $ 449.6 $ 744.8 $ 842.0 $ 979.6 $ (29.6)(2) $ 359.5
Add back fixed charges.................. 273.1 322.3 291.7 287.5 204.7 162.7
-------- -------- -------- -------- -------- --------
Income as adjusted................... $ 722.7 $1,067.1 $1,133.7 $1,267.1 $ 175.1 $ 522.2
======== ======== ======== ======== ======== ========
Fixed charges:
Interest on indebtedness (1)......... $ 191.2 $ 232.7 $ 206.2 $ 213.9 $ 141.0 $ 94.7
Portion of rents representative of
interest factor.................... 81.9 89.6 85.5 73.6 63.7 68.0
-------- -------- -------- -------- -------- --------
Total fixed charges.................. $ 273.1 $ 322.3 $ 291.7 $ 287.5 $ 204.7 $ 162.7
======== ======== ======== ======== ======== ========
Ratio of earnings to fixed charges....... 2.65x 3.31x 3.89x 4.41x 0.86x (3) 3.21x
======== ======== ======== ======== ======== ========
</TABLE>
(1) Includes the dividends paid to preferred shareholders of a subsidiary.
(Refer to Note 12 of Notes to Consolidated Financial Statements in our
Registration Statement on Form 10.)
(2) Pretax income (loss) from continuing operations reflects a severance and
facilities charge of $815.7 million.
(3) Additional pretax income from continuing operations necessary to achieve a
ratio of earnings to fixed charges of 1.0 was approximately $29.6 million.
