EX-12.1 4 dex121.htm STATEMENT REGARDING COMPUTATION Statement Regarding Computation

EXHIBIT 12.1

STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

     Year Ended December 31  
     2007    2006    2005    2004     2003  
     (in millions, except ratios)  

Earnings

              

Income (Loss) from Continuing

              

Operations Before Income Tax and Cumulative Effect of Accounting Principle Change

    $ 997.2    $ 465.4    $ 693.9    $ (275.7 )   $ (452.4 )

Fixed Charges

      210.2      221.3      239.3      239.3       219.2  
                                     

Adjusted Earnings

    $ 1,207.4    $ 686.7    $ 933.2    $ (36.4 )   $ (233.2 )
                                     

Fixed Charges

              

Interest and Debt Expense

    $ 183.1    $ 191.8    $ 208.0    $ 207.1     $ 187.2  

Interest Credited to Policyholders

      10.7      11.5      13.8      14.2       16.7  

Amortization of Deferred Debt Costs

      5.0      6.1      7.8      7.3       5.4  

Portion of Rents Deemed

              

Representative of Interest

      11.4      11.9      9.7      10.7       9.9  
                                     

Total Fixed Charges

    $ 210.2    $ 221.3    $ 239.3    $ 239.3     $ 219.2  
                                     

Ratio of Earnings to Fixed Charges

      5.7      3.1      3.9      (a )     (a )

 

(a) Earnings were inadequate to cover fixed charges. The coverage deficiency totaled $275.7 million and $452.4 million for the years ended December 31, 2004 and 2003, respectively.