EX-12 2 afg-2013331xex12.htm EXHIBIT 12 AFG-2013.3.31-Ex 12


Exhibit 12
AMERCIAN FINANCIAL GROUP, INC. AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(Dollars in Millions)
 
 
 
Three months ended March 31, 2013
 
Year ended December 31, 2012
Earnings before income taxes
 
$
175

 
$
537

Undistributed equity in (earnings) losses of investee
 
—

 
(1
)
Losses of managed investment entities attributable to noncontrolling interest
 
11

 
98

Fixed charges:
 
 
 
 
Interest on annuities
 
134

 
541

Interest charges on borrowed money
 
18

 
75

Debt discount, expense and other fixed charges
 
5

 
12

Portion of rentals representing interest
 
4

 
16

EARNINGS
 
$
347

 
$
1,278

 
 
 
 
 
Fixed charges:
 
 
 
 
Interest on annuities
 
$
134

 
$
541

Interest charges on borrowed money
 
18

 
75

Debt discount, expense and other fixed charges
 
5

 
12

Portion of rentals representing interest
 
4

 
16

FIXED CHARGES
 
$
161

 
$
644

 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
2.16

 
1.98

 
 
 
 
 
Earnings in Excess of Fixed Charges
 
$
186

 
$
634


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