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Previous: CONSECO FINANCE CORP, 10-Q, EX-4.C, 2000-11-14 |
Next: CONSECO FINANCE CORP, 10-Q, EX-27, 2000-11-14 |
<TABLE>
<CAPTION>
CONSECO FINANCE CORP. AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
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
---- ----
<S> <C> <C>
Pretax income (loss) from operations:
Net income (loss) $(298.3) $ 47.9
Add income tax expense (benefit) (139.9) (16.4)
Add cumulative effect of accounting change 45.5 -
Add extraordinary charge on extinguishment of debt - 2.5
------- ------
Pretax income (loss) from operations (392.7) 34.0
------- ------
Add fixed charges:
Interest expense on long-term debt 806.6 341.3
Portion of rental(a) 7.7 7.2
------- ------
Fixed charges 814.3 348.5
------- ------
Adjusted earnings $ 421.6 $382.5
======= ======
Ratio of earnings to fixed charges (b) 1.10X
======= ======
<FN>
(a) Interest portion of rental is assumed to be 33 percent.
(b) Adjusted earnings were $392,700 million less than fixed charges.
Adjusted earnings for the nine months ended September 30, 2000,
included impairment charges and special charges of $217.1 million and
$290.0 million, respectively, as described in greater detail in the
accompanying notes to the consolidated financial statements.
</FN>
</TABLE>
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