Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - AMERICAN EQUITY INVESTMENT LIFE HOLDING CO | a2015-06x30_ael10q.htm |
| EX-31.2 - EXHIBIT 31.2 - AMERICAN EQUITY INVESTMENT LIFE HOLDING CO | a2015-06x30_exhibit312.htm |
| EX-32.1 - EXHIBIT 32.1 - AMERICAN EQUITY INVESTMENT LIFE HOLDING CO | a2015-06x30_exhibit321.htm |
| EX-32.2 - EXHIBIT 32.2 - AMERICAN EQUITY INVESTMENT LIFE HOLDING CO | a2015-06x30_exhibit322.htm |
| EX-31.1 - EXHIBIT 31.1 - AMERICAN EQUITY INVESTMENT LIFE HOLDING CO | a2015-06x30_exhibit311.htm |
Exhibit 12.1
Ratio of Earnings to Fixed Charges
Six Months Ended | Year Ended December 31, | ||||||||||||||||||||||
June 30, 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||
Consolidated income before income taxes | $ | 135,638 | $ | 196,064 | $ | 389,332 | $ | 85,989 | $ | 132,914 | $ | 65,266 | |||||||||||
Interest sensitive and index product benefits and amortization of deferred sales inducements | 675,437 | 1,605,119 | 1,525,980 | 895,636 | 846,878 | 794,803 | |||||||||||||||||
Interest expense on notes payable | 14,693 | 36,370 | 38,870 | 28,479 | 31,633 | 22,125 | |||||||||||||||||
Interest expense on subordinated debentures | 6,063 | 12,122 | 12,088 | 13,458 | 13,977 | 14,906 | |||||||||||||||||
Interest expense on amounts due under repurchase agreements and other interest expense | 2 | 18 | 139 | — | 30 | — | |||||||||||||||||
Interest portion of rental expense | 410 | 847 | 797 | 697 | 665 | 648 | |||||||||||||||||
Consolidated earnings | $ | 832,243 | $ | 1,850,540 | $ | 1,967,206 | $ | 1,024,259 | $ | 1,026,097 | $ | 897,748 | |||||||||||
Interest sensitive and index product benefits and amortization of deferred sales inducements | $ | 675,437 | $ | 1,605,119 | $ | 1,525,980 | $ | 895,636 | $ | 846,878 | $ | 794,803 | |||||||||||
Interest expense on notes payable | 14,693 | 36,370 | 38,870 | 28,479 | 31,633 | 22,125 | |||||||||||||||||
Interest expense on subordinated debentures | 6,063 | 12,122 | 12,088 | 13,458 | 13,977 | 14,906 | |||||||||||||||||
Interest expense on amounts due under repurchase agreements and other interest expense | 2 | 18 | 139 | — | 30 | — | |||||||||||||||||
Interest portion of rental expense | 410 | 847 | 797 | 697 | 665 | 648 | |||||||||||||||||
Combined fixed charges | $ | 696,605 | $ | 1,654,476 | $ | 1,577,874 | $ | 938,270 | $ | 893,183 | $ | 832,482 | |||||||||||
Ratio of consolidated earnings to fixed charges | 1.2 | 1.1 | 1.2 | 1.1 | 1.1 | 1.1 | |||||||||||||||||
Ratio of consolidated earnings to fixed charges, both excluding interest sensitive and index product benefits and amortization of deferred sales inducements | 7.4 | 5.0 | 8.5 | 3.0 | 3.9 | 2.7 | |||||||||||||||||