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Previous: LIBERTY FINANCIAL COMPANIES INC /MA/, 10-Q/A, 2000-11-14 |
Next: LIBERTY FINANCIAL COMPANIES INC /MA/, 10-Q/A, EX-27, 2000-11-14 |
<PAGE>
LIBERTY FINANCIAL COMPANIES, INC.
EXHIBIT 12 - STATEMENT RE COMPUTATION OF RATIOS
($ in millions)
<TABLE>
<CAPTION>
THREE MONTHS ENDED SIX MONTHS ENDED
JUNE 30 JUNE 30
------------------------- --------------------------
2000 1999 2000 1999
------------ ------------ ------------- ------------
(RESTATED) (RESTATED)
<S> <C> <C> <C> <C>
Earnings:
Pretax income $47.7 $36.0 $110.1 $80.0
Add fixed charges:
Interest on indebtedness 10.1 9.1 19.9 17.9
Portion of rent representing the interest factor 1.3 1.2 2.5 2.4
Accretion to face value of redeemable
convertible preferred stock - 0.2 0.2 0.4
------------ ------------ ------------- ------------
Sub-total of income as adjusted 59.1 46.5 132.7 100.7
Interest on fixed annuities and financial products 133.2 129.4 260.5 264.2
------------ ------------ ------------- ------------
Total income as adjusted $192.3 $175.9 $393.2 $364.9
============ ============ ============= ============
Fixed charges:
Interest on indebtedness $10.1 $9.1 $19.9 $17.9
Portion of rent representing the interest factor 1.3 1.2 2.5 2.4
Accretion to face value of redeemable
convertible preferred stock - 0.2 0.2 0.4
------------ ------------ ------------- ------------
Sub-total of fixed charges 11.4 10.5 22.6 20.7
Interest on fixed annuities and financial products 133.2 129.4 260.5 264.2
------------ ------------ ------------- ------------
Combined fixed charges 144.6 139.9 283.1 284.9
Preferred stock dividends 0.4 0.4 0.7 0.7
------------ ------------ ------------- ------------
Fixed charges and preferred stock dividends $145.0 $140.3 $283.8 $285.6
============ ============ ============= ============
Ratio of earnings to fixed charges:
Excluding interest on fixed annuities and financial
products 5.18 x 4.43 x 5.87 x 4.86 x
============ ============ ============= ============
Including interest on fixed annuities and financial products 1.33 x 1.26 x 1.39 x 1.28 x
============ ============ ============= ============
Ratio of earnings to combined fixed charges and preferred stock
dividends:
Excluding interest on fixed annuities and financial products 5.01 x 4.27 x 5.70 x 4.71 x
============ ============ ============= ============
Including interest on fixed annuities and financial products 1.33 x 1.25 x 1.39 x 1.28 x
============ ============ ============= ============
</TABLE>
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