EX-12 2 ex12.htm EXHIBIT 12 Exhibit 12

CIGNA CORPORATION
           Exhibit 12		  
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
          
(Dollars in millions)
          
 
    Nine Months Ended
September 30
  
   
2004
  
2003
  
           
Income from continuing operations before income taxes
 
$
1,562
  
$
482
  
               
Adjustments:
              
   Loss from equity investee
    
-
   
4
 
               
Income from continuing operations before income taxes, as adjusted
  
$
1,562
  
$
486
  
               
Fixed charges included in income:
              
               
   Interest expense
  
$
81
  
$
83
  
   Interest portion of rental expense
    
34
   
41
 
               
     
115
   
124
 
               
   Interest credited to contractholders
    
440
   
729
 
               
   
$
555
  
$
853
  
               
Income available for fixed charges (including interest
              
   credited to contractholders)
  
$
2,117
  
$
1,339
  
               
Income available for fixed charges (excluding interest
              
   credited to contractholders)
  
$
1,677
  
$
610
  
               
RATIO OF EARNINGS TO FIXED CHARGES:
              
               
    Including interest credited to contractholders
   
3.8
   
1.6
 
               
SUPPLEMENTAL RATIO:
              
               
    Excluding interest credited to contractholders
   
14.6
   
4.9