EX-12 8 afg-2012930xex12.htm EXHIBIT 12 - EARNINGS TO FIXED CHARGES AFG-2012.9.30-Ex 12


Exhibit 12
AMERCIAN FINANCIAL GROUP, INC. AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(Dollars in Millions)
 
 
 
Nine months ended September 30, 2012
 
Year ended December 31, 2011
(as adjusted)
Operating earnings before income taxes
 
$
567

 
$
558

Undistributed equity in (earnings) losses of investee
 
(1
)
 
1

Losses of managed investment entities attributable to noncontrolling interest
 
64

 
24

Fixed charges:
 
 
 
 
Interest on annuities
 
417

 
510

Interest expense
 
64

 
85

Debt discount and expense
 
2

 
2

Portion of rentals representing interest
 
13

 
18

EARNINGS
 
$
1,126

 
$
1,198

 
 
 
 
 
Fixed charges:
 
 
 
 
Interest on annuities
 
$
417

 
$
510

Interest expense
 
64

 
85

Debt discount and expense
 
2

 
2

Portion of rentals representing interest
 
13

 
18

FIXED CHARGES
 
$
496

 
$
615

 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
2.27

 
1.95

 
 
 
 
 
Earnings in Excess of Fixed Charges
 
$
630

 
$
583