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)
JUNE 10, 1997
UNITED COMPANIES FINANCIAL CORPORATION
(Exact name of Registrant as Specified in Charter)
LOUISIANA 1-7067 71-0430414
(State or Other (Commission (IRS Employer
Jurisdiction of File Number) Identification No.)
Incorporation
4041 ESSEN LANE, BATON ROUGE, LOUISIANA 70809
(Address of Principal Executive Offices) (Zip Code)
Registrants telephone number, including area code (504) 987-0000
NOT APPLICABLE
(Former Name or Former Address, if Changed Since Last Report)
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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.
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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
(Registrant)
Date: June 11, 1997 By: /s/ Dale E. Redman
-------------------
Name: Dale E. Redman
Title: Executive Vice
President & Chief
Financial Officer
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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.
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<CAPTION>
EXHIBIT 12.1
UNITED COMPANIES FINANCIAL CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
Three Months
Ended March 31, Year Ended December 31,
1997 1996 1995 1994 1993 1992
------------ -----------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Income from continuing operations
before income taxes $31,497 $133,857 $102,665 $74,994 $40,426 $16,800
Add
Portion of rents representative of
the interest factor 937 2,970 2,259 2,051 1,430 1,121
Interest on indebtedness 12,230 38,626 25,559 13,362 9,881 10,897
Proportionate share of interest on
indebtedness of 50%-owned
investee 69 285 373 375 380 383
Less : intercompany interest (69) (285) (373) (375) (380) (383)
------------- -----------------------------------------------------
Income as adjusted $44,664 $175,453 $130,483 $90,407 $51,737 $28,818
Fixed charges
Portion of rents representative of
the interest factor $937 $2,970 $2,259 $2,051 $1,430 $1,121
Interest on indebtedness 12,230 38,626 25,559 13,362 9,881 10,897
Interest capitalized 128 40 0 40 0 0
Proportionate share of interest on
indebtedness of 50%-owned
investee 69 285 373 375 380 383
Less : intercompany interest (69) (285) (373) (375) (380) (383)
------------- -----------------------------------------------------
Fixed charges $13,295 $41,636 $27,818 $15,453 $11,311 $12,018
Ratio of earnings to fixed charges 3.4 4.2 4.7 5.9 4.6 2.4
============= =====================================================
</TABLE>
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<TABLE>
<CAPTION>
EXHIBIT 12.2
UNITED COMPANIES FINANCIAL CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS
(dollars in thousands)
Three Months
Ended March 31, Year Ended December 31,
1997 1996 1995 1994 1993 1992
--------------- -----------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Income from continuing operations
before income taxes $31,497 $133,857 $102,665 $74,994 $40,426 $16,800
Add
Portion of rents representative of
the interest factor 937 2,970 2,259 2,051 1,430 1,121
Interest on indebtedness 12,230 38,626 25,559 13,362 9,881 10,897
Proportionate share of interest on
indebtedness of 50%-owned
investee 69 285 373 375 380 383
Less : intercompany interest (69) (285) (373) (375) (380) (383)
--------------- -----------------------------------------------------
Income as adjusted $44,664 $175,453 $130,483 $90,407 $51,737 $28,818
Fixed charges
Preferred stock dividends $1,452 $5,806 $3,145 $333
Ratio of income from continuing
operations before income taxes
to income from continuing
operations 156% 155% 158% 152%
Preferred stock dividends on a
pretax basis 2,269 9,017 4,973 506
Portion of rents representative of
the interest factor 937 2,970 2,259 $2,051 1,430 $1,121
Interest on indebtedness 12,230 38,626 25,559 13,362 9,881 10,897
Interest capitalized 128 40 0 40 0 0
Proportionate share of interest on
indebtedness of 50%-owned
investee 69 285 373 375 380 383
Less : intercompany interest (69) (285) (373) (375) (380) (383)
-------------- -----------------------------------------------------
Fixed charges $15,564 $50,653 $32,791 $15,453 $11,817 $12,018
Ratio of earnings to fixed charges 2.9 3.5 4.0 5.9 4.4 2.4
============= =====================================================
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