<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 six months ended June 30, 2000 and the year ended December 31, 1999
(Dollars in millions)
Six months
ended Year ended
June 30, December 31,
2000 1999
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<S> <C> <C>
Pretax income (loss) from operations:
Net income........................................................... $(327.3) $ 595.0
Add income tax expense (benefit)..................................... (32.9) 423.1
Add minority interest................................................ 74.7 132.8
Add extraordinary charge on extinguishment of debt................... .1 -
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Pretax income (loss) from operations....................... (285.4) 1,150.9
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Add fixed charges:
Interest expense on corporate debt, including amortization........... 116.0 169.6
Interest expense on finance debt..................................... 470.2 334.2
Interest expense on investment borrowings............................ 10.0 57.9
Portion of rental(1)................................................. 11.1 20.3
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Fixed charges................................................... 607.3 582.0
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Adjusted earnings............................................... $ 321.9 $1,732.9
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Ratio of earnings to fixed charges.............................. .53X(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................................................... $ 607.3 $ 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)........................................... 10.4 2.4
Add distributions on Company-obligated mandatorily
redeemable preferred securities of subsidiary trusts........ 115.0 204.3
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Fixed charges................................................... $ 732.7 $ 788.7
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Adjusted earnings............................................... $ 321.9 $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................... .44X(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 $285.4 million less than fixed
charges. Adjusted earnings for the six months ended June 30, 2000,
included special charges of $327.2 million as described in greater
detail in the note to the accompanying consolidated financial statements
entitled "Special Charges and Recent Events".
(3) For such ratios, adjusted earnings were $410.8 million less than fixed
charges. Adjusted earnings for the six months ended June 30, 2000,
included special charges of $327.2 million as described in greater
detail in the note to the accompanying consolidated financial statements
entitled "Special Charges and Recent Events".
</FN>
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