EX-12 3 g09979exv12.htm EX-12 STATEMENT REGARDING THE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EX-12 STATEMENT RE: THE COMPUTATION OF RATIO
 

EXHIBIT 12
Aflac Incorporated and Subsidiaries
Ratio of Earnings to Fixed Charges
   
    Three Months Ended     Nine Months Ended  
    September 30,     September 30,  
(In thousands)   2007     2006     2007     2006  
 
Fixed charges:
                                
Interest expense*
   $ 6,388     $ 4,165     $ 20,330     $ 13,857  
Interest on investment-type contracts
     4,077       3,174       11,358       8,880  
Rental expense deemed interest
     275       241       745       633  
 
Total fixed charges
   $ 10,740     $ 7,580     $ 32,433     $ 23,370  
 
Earnings before income tax*
   $ 641,901     $ 557,689     $ 1,912,916     $ 1,756,329  
Add back:
                                
Total fixed charges
     10,740       7,580       32,433       23,370  
 
Total earnings before income tax and
fixed charges
   $ 652,641     $ 565,269     $ 1,945,349     $ 1,779,699  
 
 
                                
Ratio of earnings to fixed charges
     60.8x       74.6x       60.0x       76.2x  
 
*Excludes interest expense on income tax liabilities
EXH 12-1