<TABLE>
<CAPTION>
CONSECO, INC. AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges,
Preferred Dividends and Distributions on Company-Obligated Mandatorily
Redeemable Preferred Securities of Subsidiary Trusts
for the nine months ended September 30, 2000 and
the year ended December 31, 1999
(Dollars in millions)
Nine months
ended Year ended
September 30, December 31,
2000 1999
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<S> <C> <C>
Pretax income (loss) from operations:
Net income........................................................... $ (814.6) $ 595.0
Add income tax expense (benefit)..................................... (212.7) 423.1
Add minority interest................................................ 110.0 132.8
Add extraordinary charge on extinguishment of debt................... 5.0 -
Add cumulative effect of accounting change........................... 55.3 -
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Pretax income (loss) from operations....................... (857.0) 1,150.9
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Add fixed charges:
Interest expense on corporate debt, including amortization........... 187.9 169.6
Interest expense on finance debt..................................... 804.8 334.2
Interest expense on investment borrowings............................ 13.8 57.9
Portion of rental(1)................................................. 18.4 20.3
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Fixed charges................................................... 1,024.9 582.0
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Adjusted earnings............................................... $ 167.9 $1,732.9
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Ratio of earnings to fixed charges.............................. (2) 2.98X
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Ratio of earnings to fixed charges, excluding interest
expense on debt related to finance receivables and
other investments........................................... (2) 7.06X
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Fixed charges................................................... $1,024.9 $ 582.0
Add dividends on preferred stock, including dividends on
preferred stock of subsidiaries (divided by the rate of
income before minority interest and extraordinary charge
to pretax income)........................................... 13.8 2.4
Add distributions on Company-obligated mandatorily
redeemable preferred securities of subsidiary trusts........ 169.2 204.3
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Fixed charges................................................... $1,207.9 $ 788.7
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Adjusted earnings............................................... $ 167.9 $1,732.9
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Ratio of earnings to fixed charges, preferred dividends and
distributions on Company-obligated mandatorily redeemable
preferred securities of subsidiary trusts................... (3) 2.20X
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Ratio of earnings to fixed charges, preferred dividends and
distributions on Company-obligated mandatorily redeemable
preferred securities of subsidiary trusts, excluding interest
expense on debt related to finance receivables and other
investments................................................... (3) 3.38X
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<FN>
(1) Interest portion of rental is assumed to be 33 percent.
(2) For such ratios, adjusted earnings were $857.0 million less than fixed
charges. Adjusted earnings for the nine months ended September 30, 2000,
included special and impairment charges of $797.6 million as described
in greater detail in the notes to the accompanying consolidated
financial statements.
(3) For such ratios, adjusted earnings were $1,040.0 million less than fixed
charges. Adjusted earnings for the nine months ended September 30, 2000,
included special and impairment charges of $797.6 million as described
in greater detail in the notes to the accompanying consolidated
financial statements.
</FN>
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