Exhibit 12
AMERICAN GENERAL CORPORATION
Computation of Ratio of Earnings to Fixed Charges and
Ratio of Earnings to Combined Fixed Charges
and Preferred Stock Dividends
(Unaudited)
($ in millions)
Nine Months Ended
September 30,
2000 1999
Consolidated operations:
Income before income tax expense and net dividends
on preferred securities of subsidiaries ..........$1,175 $1,449
Fixed charges deducted from income
Interest expense ................................. 681 566
Implicit interest in rents ....................... 18 18
Total fixed charges deducted from income ....... 699 584
Earnings available for fixed charges..........$1,874 $2,033
Fixed charges per above ............................$ 699 $ 584
Dividends on preferred stock and securities ........ 120 111
Combined fixed charges and preferred
stock dividends ................................$ 819 $ 695
Ratio of earnings to fixed charges .......... 2.68 3.48
Ratio of earnings to combined fixed charges
and preferred stock dividends ........... 2.29 2.93
Consolidated operations, corporate fixed charges
and preferred stock dividends only:
Income before income tax expense and net dividends
on preferred securities of subsidiaries ........$1,175 $1,449
Corporate fixed charges deducted from income -
corporate interest expense ..................... 188 169
Earnings available for fixed charges .........$1,363 $1,618
Corporate fixed charges per above ................$ 188 $ 169
Dividends on preferred stock and securities ...... 120 111
Combined corporate fixed charges and
preferred stock dividends ....................$ 308 $ 280
Ratio of earnings to corporate fixed
charges ................................. 7.26 9.55
Ratio of earnings to combined corporate
fixed charges and preferred
stock dividends ......................... 4.43 5.78
Exhibit 12
(continued)
AMERICAN GENERAL CORPORATION
Computation of Ratio of Earnings to Fixed Charges and
Ratio of Earnings to Combined Fixed Charges
and Preferred Stock Dividends
(Unaudited)
($ in millions)
Nine Months Ended
September 30,
2000 1999
American General Finance, Inc.:
Income before income tax expense .................... $ 233 $ 252
Fixed charges deducted from income
Interest expense .................................. 514 420
Implicit interest in rents ........................ 12 11
Total fixed charges deducted from income......... 526 431
Earnings available for fixed charges .......... $ 759 $ 683
Ratio of earnings to fixed charges ........ 1.44 1.58
Exhibit 12
(continued)
AMERICAN GENERAL CORPORATION
Computation of Ratio of Earnings to Fixed Charges and
Ratio of Earnings to Combined Fixed Charges
and Preferred Stock Dividends
(Unaudited)
($ in millions)
Quarter Ended
September 30,
2000 1999
Consolidated operations:
Income before income tax expense and net dividends
on preferred securities of subsidiaries .......... $533 $488
Fixed charges deducted from income
Interest expense ................................. 238 195
Implicit interest in rents ....................... 6 6
Total fixed charges deducted from income ....... 244 201
Earnings available for fixed charges.......... $777 $689
Fixed charges per above ............................ $244 $201
Dividends on preferred stock and securities ........ 41 38
Combined fixed charges and preferred
stock dividends ................................ $285 $239
Ratio of earnings to fixed charges .......... 3.20 3.43
Ratio of earnings to combined fixed charges
and preferred stock dividends ........... 2.74 2.89
Consolidated operations, corporate fixed charges
and preferred stock dividends only:
Income before income tax expense and net dividends
on preferred securities of subsidiaries ........ $533 $488
Corporate fixed charges deducted from income -
corporate interest expense ..................... 64 58
Earnings available for fixed charges ......... $597 $546
Corporate fixed charges per above ................ $ 64 $ 58
Dividends on preferred stock and securities ...... 41 38
Combined corporate fixed charges and
preferred stock dividends .................... $105 $ 96
Ratio of earnings to corporate fixed
charges ................................. 9.39 9.36
Ratio of earnings to combined corporate
fixed charges and preferred
stock dividends ......................... 5.73 5.69
Exhibit 12
(continued)
AMERICAN GENERAL CORPORATION
Computation of Ratio of Earnings to Fixed Charges and
Ratio of Earnings to Combined Fixed Charges
and Preferred Stock Dividends
(Unaudited)
($ in millions)
Quarter Ended
September 30,
2000 1999
American General Finance, Inc.:
Income before income tax expense .................... $ 96 $ 86
Fixed charges deducted from income
Interest expense .................................. 181 144
Implicit interest in rents ........................ 4 4
Total fixed charges deducted from income......... 185 148
Earnings available for fixed charges .......... $281 $234
Ratio of earnings to fixed charges ........ 1.52 1.58
