EX-12 6 ex12.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,              
 

2008 

2007 

2006 

2005 

2004 
           

Pretax income (loss) excluding

          

  discontinued operations

$311.7 

$  607.2 

$  662.8 

$301.7 

$548.3 

Minority interest in subsidiaries

          

  having fixed charges

4.2 

31.7 

31.6 

25.5 

28.3 

Less undistributed equity in (earnings)

          

  losses of investees

1.7 

2.3 

3.2 

7.8 

4.9 

Fixed charges:

          

  Interest on annuities

418.0 

371.5 

343.7 

341.6 

313.6 

  Interest expense

69.9 

71.2 

72.4 

79.3 

81.0 

  Debt discount and expense

1.6 

2.0 

1.9 

3.9 

3.8 

  Portion of rentals representing

          

    interest

  13.2 

    12.4 

    11.3 

  10.3 

  11.8 
           

      EARNINGS

$820.3 

$1,098.3 

$1,126.9 

$770.1 

$991.7 
           
           

Fixed charges:

          

  Interest on annuities

$418.0 

$  371.5 

$  343.7 

$341.6 

$313.6 

  Interest expense

69.9 

71.2 

72.4 

79.3 

81.0 

  Debt discount and expense

1.6 

2.0 

1.9 

3.9 

3.8 

  Portion of rentals representing

          

    interest

  13.2 

    12.4 

    11.3 

  10.3 

  11.8 
           

      FIXED CHARGES

$502.7 

$  457.1 

$  429.3 

$435.1 

$410.2 
           
           

Ratio of Earnings to Fixed Charges

1.63 

2.40 

2.62 

1.77 

2.42 
           
           
           

Earnings in Excess of Fixed Charges

$317.6 

$  641.2 

$  697.6 

$335.0 

$581.5 
           

E-3