EX-12 8 ex-12.txt EXHIBIT 12 EXHIBIT 12 The Allstate Corporation Computation of Earnings to Fixed Charges Ratio ($ in millions)
FOR THE THREE MONTHS ENDED MARCH 31, FOR THE YEAR ENDED DECEMBER 31, -------------------- ---------------------------------------------- 2000 1999 1999 1998 1997 1996 1995 ------ ------- ------- ------- ------- ------- ------- 1. Income from continuing operations before income taxes, equity in net income of unconsolidated subsidiary, and dividends on preferred securities of subsidiary trusts $ 788 $ 1,505 $ 3,907 $ 4,745 $ 4,434 $ 2,669 $ 2,421 2. Equity in income of 100% owned subsidiary - - - - - - 49 3. Dividends from less than 50% owned subsidiary - - - 1 2 2 2 ------ ------- ------- ------- ------- ------- ------- 4. Income from continuing operations before income taxes (1+2+3) $ 788 $ 1,505 $ 3,907 $ 4,746 $ 4,436 $ 2,671 $ 2,472 ------ ------- ------- ------- ------- ------- ------- Fixed Charges: 5. Interest on indebtedness $ 47 $ 30 $ 129 $ 118 $ 100 $ 95 $ 81 6. Interest factor of annual rental expense 12 12 50 90 80 71 90 ------ ------- ------- ------- ------- ------- ------- 7. Total fixed charges (5+6) $ 59 $ 42 $ 179 $ 208 $ 180 $ 166 $ 171 ------ ------- ------- ------- ------- ------- ------- 8. Dividends on redeemable preferred securities 17 14 59 59 59 6 -- 9. Total fixed charges and dividends on redeemable preferred securities (7+8) 76 56 238 267 239 172 171 ------ ------- ------- ------- ------- ------- ------- 10. Income from continuing operations before income taxes and fixed charges (4+7) $ 847 $ 1,547 $ 4,086 $ 4,954 $ 4,616 $ 2,837 $ 2,643 ====== ======= ======= ======= ======= ======= ======= 11. Ratio of earnings to fixed charges (A) 11.1x 27.6x 17.2x 18.6x 19.3x 16.5x 15.5x ====== ======= ======= ======= ======= ======= ======= 12. Interest credited to contractholder funds $ 352 $ 320 $ 1,362 $ 1,247 $ 1,209 $ 1,196 $ 1,191 13. Total fixed charges including dividends on redeemable preferred securities and interest credited to contractholder funds (9+12) $ 428 $ 376 $ 1,600 $ 1,514 $ 1,448 $ 1,368 $ 1,362 ------ ------- ------- ------- ------- ------- ------- 14. Income from continuing operations before income taxes and fixed charges including interest credited to contractholder $ 1,199 $ 1,867 $ 5,448 $ 6,201 $ 5,825 $ 4,033 $ 3,834 funds (4+7+12) ======= ======= ======= ======= ======= ======= =======
15. Ratio of earnings to fixed charges, including interest credited to contractholder funds (14/13) 2.8x 5.0x 3.4x 4.1x 4.0x 2.9x 2.8x ======= ======= ======= ======= ======= ======= =======
(A) Allstate 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 Allstate 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.