EX-12 3 d360807dex12.htm COMPUTATION OF RATIOS Computation of Ratios

Exhibit 12

AMERCIAN FINANCIAL GROUP, INC. AND SUBSIDIARIES

EXHIBIT 12 — COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

(Dollars in Millions)

 

            Year Ended  
     Six Months      December 31,  
     Ended June 30,      2011  
     2012      (as adjusted)  

Operating earnings before income taxes

    $ 282      $ 558  

Undistributed equity in losses of investee

      —           1  

Losses of managed investment entities attributable to noncontrolling interest

      46        24  

Fixed charges:

      

Interest on annuities

      277        510  

Interest expense

      42        85  

Debt discount and expense

      1        2  

Portion of rentals representing interest

      9        18  
  

 

 

     

 

 

  

EARNINGS

    $ 657      $ 1,198  
  

 

 

     

 

 

  

Fixed charges:

      

Interest on annuities

    $ 277      $ 510  

Interest expense

      42        85  

Debt discount and expense

      1        2  

Portion of rentals representing interest

      9        18  
  

 

 

     

 

 

  

FIXED CHARGES

    $ 329      $ 615  
  

 

 

     

 

 

  

Ratio of Earnings to Fixed Charges

      2.00        1.95  
  

 

 

     

 

 

  

Earnings in Excess of Fixed Charges

    $ 328      $ 583