EX-12 13 h83029ex12.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES 1 AMERICAN GENERAL CORPORATION EXHIBIT 12 EXHIBIT 12 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS In millions, except ratios
For the Years Ended December 31, -------------------------------------- 2000 1999 1998 --------------------------------------------------------------------------------------------------------- Consolidated operations: Income before income tax expense and net dividends on preferred securities of subsidiaries $1,674 $1,887 $1,323 Fixed charges deducted from income Interest expense 919 771 693 Implicit interest in rents 23 24 19 --------------------------------------------------------------------------------------------------------- Total fixed charges deducted from income 942 795 712 --------------------------------------------------------------------------------------------------------- Earnings available for fixed charges $2,616 $2,682 $2,035 --------------------------------------------------------------------------------------------------------- Fixed charges per above $ 942 $ 795 $ 712 Dividends on preferred stock and securities 161 151 146 --------------------------------------------------------------------------------------------------------- Combined fixed charges and preferred stock dividends $1,103 $ 946 $ 858 --------------------------------------------------------------------------------------------------------- Ratio of earnings to fixed charges 2.78 3.37 2.86 --------------------------------------------------------------------------------------------------------- Ratio of earnings to combined fixed charges and preferred stock dividends 2.37 2.83 2.37 --------------------------------------------------------------------------------------------------------- Consolidated operations, corporate fixed charges and preferred stock dividends only: Income before income tax expense and net dividends on preferred securities of subsidiaries $1,674 $1,887 $1,323 Corporate fixed charges deducted from income - corporate interest expense 253 228 211 --------------------------------------------------------------------------------------------------------- Earnings available for fixed charges $1,927 $2,115 $1,534 --------------------------------------------------------------------------------------------------------- Corporate fixed charges per above $ 253 $ 228 $ 211 Dividends on preferred stock and securities 161 151 146 --------------------------------------------------------------------------------------------------------- Combined corporate fixed charges and preferred stock dividends $ 414 $ 379 $ 357 --------------------------------------------------------------------------------------------------------- Ratio of earnings to corporate fixed charges 7.62 9.27 7.28 --------------------------------------------------------------------------------------------------------- Ratio of earnings to combined corporate fixed charges and preferred stock dividends 4.66 5.57 4.30 --------------------------------------------------------------------------------------------------------- American General Finance, Inc.: Income before income tax expense $ 327 $ 283 $ 296 Fixed charges deducted from income Interest expense 694 574 512 Implicit interest in rents 16 15 12 --------------------------------------------------------------------------------------------------------- Total fixed charges deducted from income 710 589 524 --------------------------------------------------------------------------------------------------------- Earnings available for fixed charges $1,037 $ 872 $ 820 --------------------------------------------------------------------------------------------------------- Ratio of earnings to fixed charges 1.46 1.48 1.57 ---------------------------------------------------------------------------------------------------------
2000 FORM 10-K 22