EX-12 2 exhibit12123117.htm EXHIBIT 12 Exhibit


EXHIBIT 12. COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

(In Thousands)
 
 
 
 
 
Years ended December 31
2017
2016
2015
2014
2013
Earnings
 
 
 
 
 
Consolidated income before income taxes(1)
$
26,293

$
58,667

$
121,451

$
76,463

$
101,902

Add: fixed charges
19,956

21,461

24,931

31,653

36,467

Total earnings
$
46,249

$
80,128

$
146,382

$
108,116

$
138,369

Fixed charges
 
 
 
 
 
Interest on policyholders’ accounts
$
18,525

$
20,079

$
23,680

$
30,245

$
35,163

Portion of rent representative of interest factor
1,431

1,382

1,251

1,408

1,304

Total fixed charges
$
19,956

$
21,461

$
24,931

$
31,653

$
36,467

Ratio of earnings to fixed charges
2.32

3.73

5.87

3.42

3.79

(1) Includes Income before income taxes from both continuing operations and discontinued operations.