Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - REINSURANCE GROUP OF AMERICA INC | c64816e8vk.htm |
Exhibit 12.1
Ratio of Earnings to Fixed Charges
Updated through March 31,
2011 (dollars in millions)
Updated through March 31,
2011 (dollars in millions)
| Years ended December 31, | Three Months Ended | |||||||||||||||||||||||
| 2006 | 2007 | 2008 | 2009 | 2010 | March 31, 2011 | |||||||||||||||||||
Income from continuing operations before income taxes |
$ | 451.4 | $ | 474.9 | $ | 280.4 | $ | 592.3 | $ | 863.8 | $ | 241.8 | ||||||||||||
Minority interest in earnings (losses) of consolidated
subsidiaries included in income from continuing operations
before income taxes |
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Fixed charges: |
||||||||||||||||||||||||
Interest expensed and capitalized |
$ | 88.5 | $ | 128.9 | $ | 104.9 | $ | 78.2 | 98.9 | 27.8 | ||||||||||||||
Interest credited on reinsurance contracts |
244.8 | 246.1 | 233.2 | 323.7 | 310.0 | 106.1 | ||||||||||||||||||
One-third of rentals |
2.4 | 3.6 | 4.1 | 4.7 | 5.7 | 1.4 | ||||||||||||||||||
Total fixed charges |
$ | 335.7 | $ | 378.6 | $ | 342.2 | $ | 406.6 | $ | 414.6 | $ | 135.3 | ||||||||||||
Less interest capitalized, net of amortization |
— | — | — | — | — | — | ||||||||||||||||||
Income from continuing operations before income taxes
and minority interest plus fixed charges |
$ | 787.1 | $ | 853.5 | $ | 622.6 | $ | 998.9 | $ | 1,278.4 | $ | 377.1 | ||||||||||||
Ratio of earnings to fixed charges |
2.3 | 2.3 | 1.8 | 2.5 | 3.1 | 2.8 | ||||||||||||||||||
Total fixed charges |
$ | 335.7 | $ | 378.6 | $ | 342.2 | $ | 406.6 | $ | 414.6 | $ | 135.3 | ||||||||||||
Less Interest credited on reinsurance contracts |
(244.8 | ) | (246.1 | ) | (233.2 | ) | (323.7 | ) | (310.0 | ) | (106.1 | ) | ||||||||||||
Total fixed charges excluding interest credited (1) |
$ | 90.9 | $ | 132.5 | $ | 109.0 | $ | 82.9 | $ | 104.6 | $ | 29.2 | ||||||||||||
Income from continuing operations before income taxes
and minority interest plus fixed charges excluding interest
credited under reinsurance contracts (1) |
$ | 542.3 | $ | 607.4 | $ | 389.4 | $ | 675.2 | $ | 968.4 | $ | 271.0 | ||||||||||||
Ratio of earnings to fixed charges excluding interest
credited under reinsurance contracts (1) |
6.0 | 4.6 | 3.6 | 8.1 | 9.3 | 9.3 | ||||||||||||||||||
| (1) | This information is not required, but the Company believes it provides additional useful information on the coverage of fixed charges that are not related to our products. |