EX-12 2 d321956dex12.htm EX-12 EX-12

Exhibit 12

AMERCIAN FINANCIAL GROUP, INC. AND SUBSIDIARIES

EXHIBIT 12 – COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

(Dollars in Millions)

 

     Three Months
Ended  March 31,
2012		      Year Ended
December  31,
2011
(as adjusted)		  
     
     
     

Operating earnings before income taxes

    $ 146      $ 558  

Undistributed equity in losses of investee

      —           1  

Losses of managed investment entities attributable to noncontrolling interest

      28        24  

Fixed charges:

      

Interest on annuities

      130        510  

Interest expense

      21        85  

Debt discount and expense

      1        2  

Portion of rentals representing interest

      4        18  
  

 

 

     

 

 

  

EARNINGS

    $ 330      $ 1,198  
  

 

 

     

 

 

  

Fixed charges:

      

Interest on annuities

    $ 130      $ 510  

Interest expense

      21        85  

Debt discount and expense

      1        2  

Portion of rentals representing interest

      4        18  
  

 

 

     

 

 

  

FIXED CHARGES

    $ 156      $ 615  
  

 

 

     

 

 

  

Ratio of Earnings to Fixed Charges

      2.12        1.95  
  

 

 

     

 

 

  

Earnings in Excess of Fixed Charges

    $ 174      $ 583