HORACE MANN EDUCATORS CORP /DE/ - FORM 10-K - EX-12 - STATEMENT REGARDING COMPUTATION OF RATIOS - February 28, 2011

Attached files

file filename
10-K - FORM 10-K - HORACE MANN EDUCATORS CORP /DE/d10k.htm
EX-10.13(A) - REVISED SCHEDULE TO SEVERANCE AGREEMENTS - HORACE MANN EDUCATORS CORP /DE/dex1013a.htm
EX-21 - SUBSIDIARIES OF HMEC - HORACE MANN EDUCATORS CORP /DE/dex21.htm
EX-23 - CONSENT OF KPMG LLP - HORACE MANN EDUCATORS CORP /DE/dex23.htm
EX-32.1 - SECTION 906 CERTIFICATION OF CEO - HORACE MANN EDUCATORS CORP /DE/dex321.htm
EX-31.1 - SECTION 302 CERTIFICATION OF CEO - HORACE MANN EDUCATORS CORP /DE/dex311.htm
EX-32.2 - SECTION 906 CERTIFICATION OF CFO - HORACE MANN EDUCATORS CORP /DE/dex322.htm
EX-99.1 - GLOSSARY OF SELECTED TERMS - HORACE MANN EDUCATORS CORP /DE/dex991.htm
EX-31.2 - SECTION 302 CERTIFICATION OF CFO - HORACE MANN EDUCATORS CORP /DE/dex312.htm
EX-11 - STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS - HORACE MANN EDUCATORS CORP /DE/dex11.htm

Exhibit 12

Horace Mann Educators Corporation

Statement Regarding Computation of Ratios

Computation of Ratio of Earnings to Fixed Charges

For the Years Ended December 31, 2010, 2009, 2008, 2007 and 2006

(Dollars in millions)

 

     Year Ended December 31,  
     2010     2009     2008     2007     2006  

Fixed charges:

           

Interest expense

    $ 14.0      $ 14.0      $ 14.5      $ 14.1      $ 13.1   

Interest credited to policyholders on interest-sensitive contracts

      146.7        139.4        131.8        127.2        122.5   
                                        
          

Total fixed charges

    $ 160.7      $ 153.4      $ 146.3      $ 141.3      $ 135.6   
                                        

Earnings:

           

Income before income taxes

    $ 111.3      $ 103.5      $ 0.2      $ 117.1      $ 140.3   

Add: Interest expense

      14.0        14.0        14.5        14.1        13.1   
                                        

Subtotal – earnings before interest expense

      125.3        117.5        14.7        131.2        153.4   

Add: Interest credited to policyholder on interest-sensitive contracts

      146.7        139.4        131.8        127.2        122.5   
                                        

Earnings before fixed charges

    $ 272.0      $ 256.9      $ 146.5      $ 258.4      $ 275.9   
                                        

Ratio of earnings to fixed charges

      1.7 x      1.7 x      1.0 x      1.8 x      2.0 x 
                                        

Supplemental information (A):

           

Ratio of earnings before interest expense to interest expense

      9.0 x      8.4 x      1.0 x      9.3 x      11.7 x 
                                        

 

(A)

Fixed charges and earnings in this calculation do not include interest credited to policyholders on interest-sensitive contracts. This adjusted coverage ratio is not required, but is provided as supplemental information because it is commonly used by individuals who analyze the Company’s results.

HORACE MANN EDUCATORS CORP /DE/ Reports