Exhibit 12
ALFA CORPORATION
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
| 2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||||
| 1. |
Pretax income from operations before adjustment for income or loss from equity investees |
$ | 125,099,774 | $ | 133,219,739 | $ | 129,278,336 | $ | 116,827,673 | $ | 106,915,040 | |||||||||||
| 2. |
Fixed Charges (Interest expense) |
16,593,276 | 17,420,837 | 11,866,248 | 7,004,587 | $ | 6,614,745 | |||||||||||||||
| 3. |
Distributed income of equity investees |
3,112,008 | 3,339,681 | 3,641,930 | 3,510,000 | 197,754 | ||||||||||||||||
| 4. |
Earnings (as defined) (1+2+3) |
$ | 144,805,058 | $ | 153,980,257 | $ | 144,786,514 | $ | 127,342,260 | $ | 113,727,539 | |||||||||||
| 5. |
Ratio of earnings to fixed charges, excluding interest credited to contractholder funds (4/2) |
8.7 | x | 8.8 | x | 12.2 | x | 18.2 | x | 17.2 | x | |||||||||||
| 6. |
Interest credited to contractholder funds |
$ | 31,541,192 | $ | 29,892,706 | $ | 29,283,243 | $ | 28,631,641 | $ | 27,930,039 | |||||||||||
| 7. |
Total fixed charges including interest credited to contractholder funds (2+6) |
$ | 48,134,468 | $ | 47,313,543 | $ | 41,149,491 | $ | 35,636,228 | $ | 34,544,784 | |||||||||||
| 8. |
Earnings (as defined) including interest credited to contractholder funds (4+6) |
$ | 176,346,250 | $ | 183,872,963 | $ | 174,069,757 | $ | 155,973,901 | $ | 141,657,578 | |||||||||||
| 9. |
Ratio of earnings to fixed charges, including interest credited to contractholder funds (8/7) |
3.7 | x | 3.9 | x | 4.2 | x | 4.4 | x | 4.1 | x | |||||||||||