EX-12.1 2 a2171427zex-12_1.htm EXHIBIT 12.1
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Exhibit 12.1

COMPUTATION OF CONSOLIDATED EARNINGS RATIOS
(Dollars in thousands)

 
   Three Months
Ended
March 31
2006
   Year Ended December 31
 
   2005
   2004
   2003
   2002
   2001
Computation of Ratio of Consolidated Earnings to Fixed Charges                                    

Income from Continuing Operations before Income Tax
 
$
110,657
 
$
377,013
 
$
385,201
 
$
325,412
 
$
265,043
 
$
209,596

Add Interest Expense
 
 
16,081
 
 
58,636
 
 
52,416
 
 
46,317
 
 
44,325
 
 
42,187

Add Interest Credited on Investment Products
 
 
189,714
 
 
726,301
 
 
649,216
 
 
647,695
 
 
900,930
 
 
944,098
   
 
 
 
 
 

Earnings before Interest, Interest Credited on Investment Products and Taxes
 
$
316,452
 
$
1,161,950
 
$
1,086,833
 
$
1,019,424
 
$
1,210,298
 
$
1,195,881
   
 
 
 
 
 

Earnings before Interest, Interest Credited on Investment Products and Taxes Divided by Interest expense and Interest Credited on Investment Products
 
 
1.5
 
 
1.5
 
 
1.5
 
 
1.5
 
 
1.3
 
 
1.2
   
 
 
 
 
 

Computation of Ratio of Consolidated Earnings to Fixed Charges Before Interest Credited on Investment Products
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Income from Continuing Operations before Income Tax
 
$
110,657
 
$
377,013
 
$
385,201
 
$
325,412
 
$
265,043
 
$
209,596

Add Interest Expense
 
 
16,081
 
 
58,636
 
 
52,416
 
 
46,317
 
 
44,325
 
 
42,187
   
 
 
 
 
 

Earnings before Interest and Taxes
 
$
126,738
 
$
435,649
 
$
437,617
 
$
361,729
 
$
309,368
 
$
251,783
   
 
 
 
 
 

Earnings before Interest and Taxes Divided by Interest Expense
 
 
7.9
 
 
7.4
 
 
8.3
 
 
8.0
 
 
7.0
 
 
6.0
   
 
 
 
 
 



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COMPUTATION OF CONSOLIDATED EARNINGS RATIOS (Dollars in thousands)