EX-12 3 q904exh12.htm AFL 3RD QUARTER 2004 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AFL Exhibit 12 q904

AFLAC Incorporated 3rd Quarter 2004 Form 10-Q

EXHIBIT 12

AFLAC INCORPORATED AND SUBSIDIARIES
Ratio of Earnings to Fixed Charges

 

Three Months Ended

  

Nine Months Ended

  
 

September 30,

  

September 30,

  

(In thousands)

2004    

  

2003    

  

2004    

  

2003    

  

                             

Fixed charges:

                        

Interest expense

$

5,711

  

$

5,534

  

$

17,189

  

$

16,337

  

Interest on investment-type contracts

  

1,709

    

915

    

4,665

    

2,724

  
 

Rental expense deemed interest

  

151

    

116

    

436

    

350

  

                             

 

Total fixed charges

$

7,571

  

$

6,565

  

$

22,290

  

$

19,411

  

                             

Earnings before income tax

$

459,254

  

$

371,463

  

$

1,357,370

  

$

1,118,685

  

Add back:

                        

Fixed charges

  

7,571

    

6,565

    

22,290

    

19,411

  

                             

 

Total earnings before income

                        

 

   tax and fixed charges

$

466,825

  

$

378,028

  

$

1,379,660

  

$

1,138,096

  

                             

 

Earnings before income tax

                        

 

  and fixed charges

  

61.7x

    

57.6x

    

61.9x

    

58.6x

  

                             





















EXH 12-1