EX-12 6 exh12.htm EARNINGS TO FIXED CHARGES AFG Form 10K

AMERCIAN FINANCIAL GROUP, INC. AND SUBSIDIARIES

EXHIBIT 12 - COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

(Dollars in Millions)

 
 

                  Year Ended December 31,                 
 

2007 

2006 

2005 

2004 

2003 
           

Pretax income (loss) excluding

          

  discontinued operations

$  607.2 

$  662.8 

$301.7 

$548.3 

$266.8 

Minority interest in subsidiaries

          

  having fixed charges(*)

31.7 

31.6 

25.5 

28.3 

43.5 

Less undistributed equity in (earnings)

          

  losses of investees

2.3 

3.2 

7.8 

4.9 

(14.0)

Fixed charges:

          

  Interest on annuities

371.5 

343.7 

341.6 

313.6 

294.9 

  Interest expense

71.2 

72.4 

79.3 

81.0 

58.7 

  Debt discount and expense

2.0 

1.9 

3.9 

3.8 

2.1 

  Portion of rentals representing

          

    interest

    12.4 

    11.3 

  10.3 

  11.8 

  12.7 
           

      EARNINGS

$1,098.3 

$1,126.9 

$770.1 

$991.7 

$664.7 
           
           

Fixed charges:

          

  Interest on annuities

$  371.5 

$  343.7 

$341.6 

$313.6 

$294.9 

  Interest expense

71.2 

72.4 

79.3 

81.0 

58.7 

  Debt discount and expense

2.0 

1.9 

3.9 

3.8 

2.1 

  Portion of rentals representing

          

    interest

12.4 

11.3 

10.3 

11.8 

12.7 

  Pretax preferred dividend

         

    requirements of subsidiaries

      -  

      -  

    -  

    -  

  27.5 
           

      FIXED CHARGES

$  457.1 

$  429.3 

$435.1 

$410.2 

$395.9 
           
           

Ratio of Earnings to Fixed Charges

2.40 

2.62 

1.77 

2.42 

1.68 
           
           
           

Earnings in Excess of Fixed Charges

$  641.2 

$  697.6 

$335.0 

$581.5 

$268.8 
           
           
           

(*)  Amounts include subsidiary preferred dividends and accrued distributions on
     preferred securities of consolidated trusts for years prior to 2004.

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