EX-12 2 a12-14033_1ex12.htm EX-12

Exhibit 12

 

SPRINGLEAF FINANCE CORPORATION AND SUBSIDIARIES

Computation of Ratio of Earnings to Fixed Charges

(Unaudited)

 

 

 

Three Months

 

Three Months

 

Six Months

 

Six Months

 

 

 

Ended

 

Ended

 

Ended

 

Ended

 

 

 

June 30,

 

June 30,

 

June 30,

 

June 30,

 

(dollars in thousands)

 

2012

 

2011

 

2012

 

2011

 

 

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

Loss before benefit from income taxes

 

$

(66,518

)

$

(99,375

)

$

(138,549

)

$

(186,699

)

Interest expense

 

275,669

 

330,972

 

556,249

 

665,740

 

Implicit interest in rents

 

2,520

 

3,040

 

7,208

 

6,475

 

Total earnings

 

$

211,671

 

$

234,637

 

$

424,908

 

$

485,516

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

Interest expense

 

$

275,669

 

$

330,972

 

$

556,249

 

$

665,740

 

Implicit interest in rents

 

2,520

 

3,040

 

7,208

 

6,475

 

Total fixed charges

 

$

278,189

 

$

334,012

 

$

563,457

 

$

672,215

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges*

 

0.76

 

0.70

 

0.75

 

0.72

 

 

*           Earnings did not cover total fixed charges by $66.5 million for the three months ended June 30, 2012 and $138.5 million for the six months ended June 30, 2012. Earnings did not cover total fixed charges by $99.4 million for the three months ended June 30, 2011 and $186.7 million for the six months ended June 30, 2011.

 

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