EX-12 2 c18014exv12.htm EXHIBIT 12 Exhibit 12
AMERCIAN FINANCIAL GROUP, INC. AND SUBSIDIARIES
EXHIBIT 12 – COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(Dollars in Millions)
                 
    Six Months Ended     Year Ended  
    June 30, 2011     December 31, 2010  
 
                
Operating earnings before income taxes
   $ 164     $ 689  
Undistributed equity in losses of investee
     1       3  
Losses of managed investment entities attributable to noncontrolling interest
     55       64  
Fixed charges:
                
Interest on annuities
     241       444  
Interest expense
     42       78  
Debt discount and expense
     1       2  
Portion of rentals representing interest
     7       14  
 
            
 
                
EARNINGS
   $ 511     $ 1,294  
 
            
 
                
Fixed charges:
                
Interest on annuities
   $ 241     $ 444  
Interest expense
     42       78  
Debt discount and expense
     1       2  
Portion of rentals representing interest
     7       14  
 
            
 
                
FIXED CHARGES
   $ 291     $ 538  
 
            
 
                
Ratio of Earnings to Fixed Charges
     1.76       2.41  
 
            
 
                
Earnings in Excess of Fixed Charges
   $ 220     $ 756