EXHIBIT 12.1
Primerica, Inc.
Computation of Earnings to Fixed Charges Ratios
(In thousands, except ratios)
| 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||||||||
| Earnings: |
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| 1. | Income from continuing operations before income taxes | $ | 290,981 | $ | 275,722 | $ | 245,006 | $ | 266,122 | $ | 245,117 | |||||||||||||||
| Fixed charges: |
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| 2. | Interest expense (1) | 33,507 | 34,570 | 35,018 | 33,101 | 27,968 | ||||||||||||||||||||
| 3. | Interest credited on investment-type contracts | 7,157 | 7,277 | 7,612 | 8,300 | 8,584 | ||||||||||||||||||||
| 4. | Interest factor on rental expense | 534 | 573 | 613 | 513 | 498 | ||||||||||||||||||||
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| 5. | Total fixed charges (2 + 3 + 4) | 41,198 | 42,420 | 43,243 | 41,914 | 37,050 | ||||||||||||||||||||
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| 6. | Earnings before fixed charges (1 + 5) | $ | 332,179 | $ | 318,142 | $ | 288,249 | $ | 308,036 | $ | 282,167 | |||||||||||||||
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| Ratios: |
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| 7. | Earnings to total fixed charges (6 / 5) | 8.1 | 7.5 | 6.7 | 7.3 | 7.6 | ||||||||||||||||||||
| (1) | For purposes of determining interest expense in calculating the ratio of earnings to fixed charges, Primerica, Inc. excludes interest contractually charged on a surplus note that was issued by a wholly owned subsidiary in exchange for an equivalent principal-value held-to-maturity security that contractually earns an equal and offsetting amount of interest income. |
EXH 12.1-1