EX-12 2 ex12.htm EARNINGS TO FIXED CHARGES 10-Q

AMERCIAN FINANCIAL GROUP, INC. AND SUBSIDIARIES

EXHIBIT 12 - COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

(Dollars in Millions)

 
 

Three Months Ended 

Year Ended 
 

    March 31, 2010 

December 31, 2009 
     

Operating earnings before income taxes

$147 

$  813 

Undistributed equity in losses of investee

1 

2 

Losses of managed investment entities

    

  attributable to noncontrolling interest

20 

- 

Fixed charges:

    

  Interest on annuities

108 

435 

  Interest expense

18 

67 

  Debt discount and expense

- 

1 

  Portion of rentals representing interest

   3 

    13 
     

      EARNINGS

$297 

$1,331 
     
     

Fixed charges:

    

  Interest on annuities

$108 

$  435 

  Interest expense

18 

67 

  Debt discount and expense

- 

1 

  Portion of rentals representing interest

   3 

    13 
     

      FIXED CHARGES

$129 

$  516 
     
     

Ratio of Earnings to Fixed Charges

2.30 

2.58 
     
     

Earnings in Excess of Fixed Charges

$168 

$  815 
     
     

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