EX-12 7 a2073498zex-12.txt COMP. OF EARNINGS TO FIXED CHRGS. RATIO
EXHIBIT 12 THE ALLSTATE CORPORATION COMPUTATION OF EARNINGS TO FIXED CHARGES RATIO (in millions) For the Year ended December 31, ---------------------------------------------------------------- 2001 2000 1999 1998 1997 ---------- ----------- ---------- ----------- ---------- 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 $1,285 $3,047 $3,907 $4,745 $4,434 2. Dividends from less than 50% owned subsidiary - - - 1 2 ---------- ----------- ---------- ----------- ---------- 3. Income from continuing operations before income taxes (1+2) $1,285 $3,047 $3,907 $4,746 $4,436 ---------- ----------- ---------- ----------- ---------- Fixed Charges: 4. Interest on indebtedness $248 $229 $129 $118 $100 5. Interest factor of annual rental expense 57 50 50 90 80 ---------- ----------- ---------- ----------- ---------- 6. Total fixed charges (4+5) $305 $279 $179 $208 $180 ---------- ----------- ---------- ----------- ---------- 7. Dividends on redeemable preferred securities 69 63 59 59 59 8. Total fixed charges and dividends on redeemable preferred securities (6+7) $374 $342 $238 $267 $239 ---------- ----------- ---------- ----------- ---------- 9. Income from continuing operations before income taxes and fixed charges (3+6) $1,590 $3,326 $4,086 $4,954 $4,616 ========== =========== ========== =========== ========== 10. Ratio of earnings to fixed charges (A) 4.3 X 9.7 X 17.2 X 18.6 X 19.3 X ========== =========== ========== =========== ========== 11. Interest credited to contractholder funds $1,733 $1,503 $1,362 $1,247 $1,209 12. Total fixed charges including dividends on redeemable preferred securities and interest credited to contractholder funds (8+11) $2,107 $1,845 $1,600 $1,514 $1,448 ---------- ----------- ---------- ----------- ---------- 13. Income from continuing operations before income taxes and fixed charges including interest credited to contractholder funds (3+6+11) $3,323 $4,829 $5,448 $6,201 $5,825 ========== =========== ========== =========== ========== 14. Ratio of earnings to fixed charges, including interest credited to contractholder Funds (13/12) 1.6 X 2.6 X 3.4 X 4.1 X 4.0 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.