EX-12 2 ufcs1220101231k.htm WebFilings | EDGAR view
 

EXHIBIT 12. COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
 
(In Thousands)
 
 
 
 
 
Years ended December 31
2010
2009
2008
2007
2006
Earnings
 
 
 
 
 
Income before income taxes
$
58,383
 
$
(28,706
)
$
(33,136
)
$
159,334
 
$
125,492
 
Add: fixed charges
43,889
 
42,494
 
40,994
 
44,046
 
50,102
 
Total earnings
$
102,272
 
$
13,788
 
$
7,858
 
$
203,380
 
$
175,594
 
Fixed charges
 
 
 
 
 
Interest on policyholders’ accounts
$
42,988
 
$
41,652
 
$
40,177
 
$
43,089
 
$
49,159
 
Portion of rent representative of interest factor
901
 
842
 
817
 
957
 
943
 
Total fixed charges
$
43,889
 
$
42,494
 
$
40,994
 
$
44,046
 
$
50,102
 
Combined fixed charges and preferred stock dividend
requirements
$
43,889
 
$
42,494
 
$
40,994
 
$
44,046
 
$
50,102
 
Ratio of earnings to fixed charges
2.33
 
0.32
 
0.19
 
4.62
 
3.50
 
Ratio of earnings to combined fixed charges and
preferred stock dividend requirements
2.33
 
0.32
 
0.19
 
4.62
 
3.50