EX-12 4 dex12.htm STATEMENT REGARDING THE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES STATEMENT REGARDING THE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

Aflac Incorporated 1st Quarter 2010 Form 10-Q

EXHIBIT 12

Aflac Incorporated and Subsidiaries

Ratio of Earnings to Fixed Charges

Three Months Ended March 31,

 

(In thousands)

      2010           2009

Fixed charges:

         

Interest expense(1)

   $ 32,682       $ 7,801

Interest on investment-type contracts

      9,294         8,461

Rental expense deemed interest

      250           402

Total fixed charges

    $ 42,226       $ 16,664
 

Earnings before income tax(1)

   $ 973,725       $ 871,163

Add back:

         

Total fixed charges

      42,226           16,664

Total earnings before income tax and fixed charges

    $     1,015,951       $     887,827
 

Ratio of earnings to fixed charges

      24.1x         53.3x
 
  (1)

Excludes interest expense on income tax liabilities

 

EXH 12-1