EX-12 6 ex12.txt COMPUTATION OF EARNINGS TO FIXED CHARGES RATIO Exhibit 12 THE ALLSTATE CORPORATION COMPUTATION OF EARNINGS TO FIXED CHARGES RATIO
(in millions) For the nine months ended September 30, For the Year ended December 31, ---------------------------------------------------------------- 2002 2001 2001 2000 1999 ---------- ---------- --------- ----------- ---------- 1. Income from continuing operations before income taxes, equity in net income of unconsolidated subsidiary, dividends on redeemable preferred securities of subsidiary trusts and cumulative effect of change in accounting principle $1,133 $990 $1,285 $3,047 $3,907 2. Dividends from less than 50% owned subsidiary - - - - - ---------- ---------- --------- ----------- ---------- 3. Income from continuing operations before income taxes (1+2) $1,133 $990 $1,285 $3,047 $3,907 ---------- ---------- --------- ----------- ---------- Fixed Charges: 4. Interest on indebtedness $204 $186 $248 $229 $129 5. Interest factor of annual rental expense 49 46 57 50 50 ---------- ---------- --------- ----------- ---------- 6. Total fixed charges (4+5) $253 $232 $305 $279 $179 ---------- ---------- --------- ----------- ---------- 7. Dividends on redeemable preferred securities 11 45 69 63 59 8. Total fixed charges and dividends on redeemable preferred securities (6+7) $264 $277 $374 $342 $238 ---------- ---------- --------- ----------- ---------- 9. Income from continuing operations before income taxes and fixed charges (3+6) $1,386 $1,222 $1,590 $3,326 $4,086 ========== ========== ========= =========== ========== 10. Ratio of earnings to fixed charges before interest credited to contractholder funds (A) 5.3 X 4.4 X 4.3 X 9.7 X 17.2 X ========== ========== ========= =========== ========== 11. Interest credited to contractholder funds $1,316 $1,292 $1,733 $1,503 $1,362 12. Total fixed charges including dividends on redeemable preferred securities and interest credited to contractholder funds (8+11) $1,580 $1,569 $2,107 $1,845 $1,600 ---------- ---------- --------- ----------- ---------- 13. Income from continuing operations before income taxes and fixed charges including interest credited to contractholder funds (3+6+11) $2,702 $2,514 $3,323 $4,829 $5,448 ========== ========== ========= =========== ========== 14. Ratio of earnings to fixed charges (13/12) 1.7 X 1.6 X 1.6 X 2.6 X 3.4 X ========== ========== ========= =========== ==========
(A) The Company has authority to issue up to 25,000,000 shares of preferred stock, par value $1.00 per share; however, there are currently no shares outstanding and the Company does not have a preferred stock dividend obligation. Therefore, the Ratio of Earnings to Fixed Charges and Preferred Stock Dividends is equal to the Ratio of Earnings to Fixed Charges and is not disclosed separately.