EX-12.1 3 sfc-20141231xex12.htm EXHIBIT 12.1 SFC-2014.12.31-EX12.1


Exhibit 12.1    

SPRINGLEAF FINANCE CORPORATION AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges

 
 
Successor
Company
 
Predecessor
Company
 
 
 
 
 
 
 
 
 
 
One Month
 
Eleven Months
 
 
Year Ended
 
Year Ended
 
Year Ended
 
Year Ended
 
Ended
 
Ended
 
 
December 31,
 
December 31,
 
December 31,
 
December 31,
 
December 31,
 
November 30,
(dollars in thousands)
 
2014
 
2013
 
2012
 
2011
 
2010
 
2010
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings:
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) before provision for (benefit from) income taxes
 
$
755,805

 
$
(135,917
)
 
$
(307,385
)
 
$
(363,598
)
 
$
1,461,621

 
$
(241,699
)
Interest expense
 
683,233

 
842,679

 
1,067,709

 
1,275,570

 
119,303

 
978,364

Implicit interest in rents
 
9,532

 
9,294

 
12,115

 
12,638

 
1,207

 
13,751

Total earnings
 
$
1,448,570

 
$
716,056

 
$
772,439

 
$
924,610

 
$
1,582,131

 
$
750,416

Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
 
$
683,233

 
$
842,679

 
$
1,067,709

 
$
1,275,570

 
$
119,303

 
$
978,364

Implicit interest in rents
 
9,532

 
9,294

 
12,115

 
12,638

 
1,207

 
13,751

Total fixed charges
 
$
692,765

 
$
851,973

 
$
1,079,824

 
$
1,288,208

 
$
120,510

 
$
992,115

Ratio of earnings to fixed charges *
 
2.09

 
0.84

 
0.72

 
0.72

 
13.13

 
0.76

                                      
*
Earnings did not cover total fixed charges by $135.9 million in 2013, $307.4 million in 2012, $363.6 million in 2011, and $241.7 million during the eleven months ended November 30, 2010.

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