Attached files
file | filename |
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8-K/A - 8-K/A - GLOBE LIFE INC. | d405843d8ka.htm |
EX-23 - EX-23 - GLOBE LIFE INC. | d405843dex23.htm |
EX-99.1 - EX-99.1 - GLOBE LIFE INC. | d405843dex991.htm |
Exhibit 12
Exhibit 12. Statement re computation of ratios
TORCHMARK CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollar amounts in thousands)
Year Ended December 31, | ||||||||||||||||||||
2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||
Earnings: |
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Pre-tax earnings |
$ | 723,782 | $ | 750,570 | $ | 543,570 | $ | 589,446 | $ | 689,909 | ||||||||||
Fixed charges |
79,481 | 77,152 | 71,570 | 64,918 | 69,532 | |||||||||||||||
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Earnings before fixed charges |
$ | 803,263 | $ | 827,722 | $ | 615,140 | $ | 654,364 | $ | 759,441 | ||||||||||
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Fixed charges: |
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Interest expense* |
$ | 76,980 | $ | 74,669 | $ | 69,260 | $ | 62,721 | $ | 67,089 | ||||||||||
Amortization of bond issue costs |
928 | 860 | 672 | 508 | 475 | |||||||||||||||
Estimated interest factor of rental expense |
1,573 | 1,623 | 1,638 | 1,689 | 1,968 | |||||||||||||||
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Total fixed charges |
$ | 79,481 | $ | 77,152 | $ | 71,570 | $ | 64,918 | $ | 69,532 | ||||||||||
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Ratio of earnings to fixed charges |
10.1 | 10.7 | 8.6 | 10.1 | 10.9 | |||||||||||||||
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Earnings before fixed charges |
$ | 803,263 | $ | 827,722 | $ | 615,140 | $ | 654,364 | $ | 759,441 | ||||||||||
Interest credited for deposit products |
70,746 | 69,742 | 64,799 | 57,176 | 52,403 | |||||||||||||||
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Adjusted earnings before fixed charges |
$ | 874,009 | $ | 897,464 | $ | 679,939 | $ | 711,540 | $ | 811,844 | ||||||||||
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Fixed charges |
$ | 79,481 | $ | 77,152 | $ | 71,570 | $ | 64,918 | $ | 69,532 | ||||||||||
Interest credited for deposit products |
70,746 | 69,742 | 64,799 | 57,176 | 52,403 | |||||||||||||||
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Adjusted fixed charges |
$ | 150,227 | $ | 146,894 | $ | 136,369 | $ | 122,094 | $ | 121,935 | ||||||||||
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Ratio of earnings to fixed charges including interest credited on deposit products as a fixed charge |
5.8 | 6.1 | 5.0 | 5.8 | 6.7 | |||||||||||||||
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Rental expense |
$ | 4,767 | $ | 4,919 | $ | 4,963 | $ | 5,117 | $ | 5,964 | ||||||||||
Estimated interest factor of rental expense (33%) |
$ | 1,573 | $ | 1,623 | $ | 1,638 | $ | 1,689 | $ | 1,968 |
* | There was no interest capitalized in any period indicated. |