EX-12.1 8 pri-ex121_591.htm COMPUTATION OF EARNINGS TO FIXED CHARGES RATIOS pri-ex121_591.htm

EXHIBIT 12.1

Primerica, Inc.

Computation of Earnings to Fixed Charges Ratios

(In thousands, except ratios)

 

 

 

 

 

 

 

2015

 

 

2014

 

 

2013

 

 

2012

 

 

2011

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.

 

Income from continuing operations before income taxes

 

$

290,981

 

 

$

275,722

 

 

$

245,006

 

 

$

266,122

 

 

$

245,117

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2.

 

Interest expense (1)

 

 

33,507

 

 

 

34,570

 

 

 

35,018

 

 

 

33,101

 

 

 

27,968

 

 

3.

 

Interest credited on investment-type contracts

 

 

7,157

 

 

 

7,277

 

 

 

7,612

 

 

 

8,300

 

 

 

8,584

 

 

4.

 

Interest factor on rental expense

 

 

534

 

 

 

573

 

 

 

613

 

 

 

513

 

 

 

498

 

 

5.

 

Total fixed charges (2 + 3 + 4)

 

 

41,198

 

 

 

42,420

 

 

 

43,243

 

 

 

41,914

 

 

 

37,050

 

 

6.

 

Earnings before fixed charges (1 + 5)

 

$

332,179

 

 

$

318,142

 

 

$

288,249

 

 

$

308,036

 

 

$

282,167

 

Ratios:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

7.

 

Earnings to total fixed charges (6 / 5)

 

 

8.1

 

 

 

7.5

 

 

 

6.7

 

 

 

7.3

 

 

 

7.6

 

 

 

(1)

For purposes of determining interest expense in calculating the ratio of earnings to fixed charges, Primerica, Inc. excludes interest contractually charged on a surplus note that was issued by a wholly owned subsidiary in exchange for an equivalent principal-value held-to-maturity security that contractually earns an equal and offsetting amount of interest income.

EXH 12.1-1