EX-12.1 6 a13-14234_3ex12d1.htm EX-12.1

Exhibit 12.1

 

THE ALLSTATE CORPORATION

COMPUTATION OF EARNINGS TO FIXED CHARGES RATIO

 

 

 

 

 

For the six months
ended June 30,

 

For the year ended December 31,

 

($ in millions)

 

2013

 

2012

 

2012

 

2011

 

2010

 

2009

 

2008

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.

 

Income from operations before income taxes

 

$

1,644

 

$

1,714

 

$

3,306

 

$

959

 

$

1,100

 

$

1,300

 

$

(2,815

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2.

 

Interest on indebtedness

 

$

197

 

$

188

 

$

373

 

$

367

 

$

367

 

$

392

 

$

351

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3.

 

Interest factor of annual rental expense

 

9

 

9

 

15

 

24

 

26

 

31

 

43

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4.

 

Interest credited to contractholder funds

 

656

 

744

 

1,316

 

1,645

 

1,807

 

2,126

 

2,411

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5.

 

Total fixed charges (2+3+4)

 

$

862

 

$

941

 

$

1,704

 

$

2,036

 

$

2,200

 

$

2,549

 

$

2,805

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

6.

 

Preferred stock dividends

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

7.

 

Total fixed charges and preferred stock dividends (5+6)

 

$

862

 

$

941

 

$

1,704

 

$

2,036

 

$

2,200

 

$

2,549

 

$

2,805

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

8.

 

Income from operations before income taxes and fixed charges (1+5)

 

$

2,506

 

$

2,655

 

$

5,010

 

$

2,995

 

$

3,300

 

$

3,849

 

$

(10

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9.

 

Ratio of earnings to fixed charges (A) (8/5)

 

2.9

X

2.8

X

2.9

X

1.5

X

1.5

X

1.5

X

—

X

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

10.

 

Income from operations before income taxes and fixed charges and preferred stock dividends (1+7)

 

$

2,506

 

$

2,655

 

$

5,010

 

$

2,995

 

$

3,300

 

$

3,849

 

$

(10

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

11.

 

Ratio of earnings to fixed charges and preferred stock dividends (A) (10/7)

 

2.9

X

2.8

X

2.9

X

1.5

X

1.5

X

1.5

X

—

X

 

(A)

Earnings for the year ended December 31, 2008 were insufficient to cover fixed charges and combined fixed charges and preferred stock dividends by $2.82 billion.