SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
December 4, 1996
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UNITED COMPANIES FINANCIAL CORPORATION
_______________________________________________________________________________
(Exact name of Registrant as Specified in Charter)
Louisiana 1-7067 71-0430414
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(State or Other (Commission (IRS Employer
Jurisdiction of File Number) Identification No.)
Incorporation
4041 Essen Lane, Baton Rouge, Louisiana 70809
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (504) 924-6007
Not Applicable
_______________________________________________________________________________
(Former Name or Former Address, if Changed Since Last Report)
<PAGE>
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
12.1. Statement of Computation of Ratio of Earnings to Fixed Charges.
12.2. Statement of Computation of Ratio of Earnings to Combined Fixed
Charges and Preferred Stock Dividends.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
UNITED COMPANIES FINANCIAL CORPORATION
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(Registrant)
Date: December 5, 1996 By: /s/ Dale E. Redman
Name: Dale E. Redman
Title: Executive Vice President &
Chief Executive Officer
<PAGE>
EXHIBIT INDEX
Sequentially
Exhibit Number Description Numbered Page
12.1 Statement of Computation of Ratio of
Earnings to Fixed Charges.
12.2 Statement of Computation of Ratio of
Earnings to Combined Fixed Charges and
Preferred Stock Dividends.
Exhibit 12.1
<TABLE>
UNITED COMPANIES FINANCIAL CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
<CAPTION>
Nine Months
Ended Sept. 30, Year Ended December 31,
1996 1995 1994 1993 1992 1991
--------------- ------ --------- ------- ------ ------
<S> <C> <C> <C> <C> <C> <C>
Income from continuing operations
before income taxes $97,945 $102,665 $74,994 $40,426 $16,800 $7,420
Add
Portion of rents representative of the
interest factor 2,125 2,259 2,051 1,430 1,121 1,031
Interest on indebtedness 27,586 25,559 13,362 9,881 10,897 16,092
Proportionate share of interest on
indebtedness of 50%-owned investee 192 373 375 380 383 430
Less: Intercompany interest (192) (373) (375) (380) (383) (430)
--------- --------- -------- -------- -------- --------
Income as adjusted $127,656 $130,483 $90,407 $51,737 $28,818 $24,543
Fixed charges
Portion of rents representative of the
interest factor 2,125 2,259 2,051 1,430 1,121 1,031
Interest on indebtedness 27,586 25,559 13,362 9,881 10,897 16,092
Interest capitalized 0 0 40
Proportionate share of interest on
indebtedness of 50%-owned investee 192 373 375 380 383 430
Less: Intercompany interest (192) (373) (375) (380) (383) (430)
-------- -------- -------- -------- -------- --------
Fixed charges $29,711 $27,818 $15,453 $11,311 $12,018 $17,123
Ratio of earnings to fixed charges 4.3 4.7 5.9 4.6 2.4 1.4
======== ======== ======== ======== ======== ========
</TABLE>
<PAGE>
Exhibit 12.2
<TABLE>
UNITED COMPANIES FINANCIAL CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
Nine Months
Ended Sept. 30, Year Ended December 31,
1996 1995 1994 1993 1992 1991
--------------- ------ --------- ------- ------ ------
<S> <C> <C> <C> <C> <C> <C>
Income from continuing operations
before income taxes $97,945 $102,665 $74,994 $40,426 $16,800 $7,420
Add
Portion of rents representative of the
interest factor 2,125 2,259 2,051 1,430 1,121 1,031
Interest on indebtedness 27,586 25,559 13,362 9,881 10,897 16,092
Proportionate share of interest on
indebtedness of 50%-owned investee 192 373 375 380 383 430
Less: Intercompany interest (192) (373) (375) (380) (383) (430)
--------- --------- -------- -------- -------- --------
Income as adjusted $127,656 $130,483 $90,407 $51,737 $28,818 $24,543
Fixed charges
Preferred stock dividends $4,355 $3,145 $333
Ratio of income from continuing
operations before income taxes to
income from cotinuing operations 158% 158% 152%
Preferred stock dividends on a pretax
basis 6,859 4,973 506
Portion of rents representative of the
interest factor $2,125 $2,259 $2,051 $1,430 $1,121 $1,031
Interest on indebtedness 27,586 25,559 13,362 9,881 10,897 16,092
Interest capitalized 0 0 40 0 0 0
Proportionate share of interest on
indebtedness of 50%-owned investee 192 373 375 380 383 430
Less: Intercompany interest (192) (373) (375) (380) (383) (430)
-------- -------- -------- -------- -------- --------
Fixed charges $36,570 $32,791 $15,453 $11,817 $12,018 $17,123
Ratio of earnings to fixed charges 3.5 4.0 5.9 4.4 2.4 1.4
======== ======== ======== ======== ======== ========
</TABLE>
