EX-12 2 exhibit12123116.htm EXHIBIT 12 Exhibit


EXHIBIT 12. COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

(In Thousands)
 
 
 
 
 
Years ended December 31
2016
2015
2014
2013
2012
Earnings
 
 
 
 
 
Income (loss) before income taxes
$
58,667

$
121,451

$
76,463

$
101,902

$
46,074

Add: fixed charges
21,461

24,931

31,653

36,467

42,612

Total earnings
$
80,128

$
146,382

$
108,116

$
138,369

$
88,686

Fixed charges
 
 
 
 
 
Interest on policyholders’ accounts
$
20,079

$
23,680

$
30,245

$
35,163

$
41,409

Portion of rent representative of interest factor
1,382

1,251

1,408

1,304

1,203

Total fixed charges
$
21,461

$
24,931

$
31,653

$
36,467

$
42,612

Ratio of earnings to fixed charges
3.73

5.87

3.42

3.79

2.08