EX-12.1 2 dex121.htm STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

EXHIBIT 12.1

STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

|  | Year Ended December 31
|  | 2009 |  | 2008 |  | 2007 |  | 2006 |  | 2005
|  | (in millions, except ratios)
Earnings |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income from Continuing Operations Before Income Tax |  | $ | 1,292.3 |  | $ | 824.0 |  | $ | 997.2 |  | $ | 465.4 |  | $ | 693.9
Fixed Charges |  |  | 146.2 |  |  | 179.9 |  |  | 210.2 |  |  | 221.3 |  |  | 239.3
Adjusted Earnings |  | $ | 1,438.5 |  | $ | 1,003.9 |  | $ | 1,207.4 |  | $ | 686.7 |  | $ | 933.2
Fixed Charges |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest and Debt Expense, excluding Costs Related to Early Retirement of Debt |  | $ | 126.2 |  | $ | 156.3 |  | $ | 183.1 |  | $ | 191.8 |  | $ | 208.0
Interest Credited to Policyholders |  |  | 8.4 |  |  | 9.0 |  |  | 10.7 |  |  | 11.5 |  |  | 13.8
Amortization of Deferred Debt Costs |  |  | 1.6 |  |  | 3.1 |  |  | 5.0 |  |  | 6.1 |  |  | 7.8
Portion of Rents Deemed Representative of Interest |  |  | 10.0 |  |  | 11.5 |  |  | 11.4 |  |  | 11.9 |  |  | 9.7
Total Fixed Charges |  | $ | 146.2 |  | $ | 179.9 |  | $ | 210.2 |  | $ | 221.3 |  | $ | 239.3
Ratio of Earnings to Fixed Charges |  |  | 9.8 |  |  | 5.6 |  |  | 5.7 |  |  | 3.1 |  |  | 3.9