EXHIBIT 12.1
Primerica, Inc.
Computation of Earnings to Fixed Charges Ratios
(in thousands, except ratios)
 
 
2013
 
2012
 
2011
 
2010
 
2009
 
 
Earnings:
 
 
 
 
 
 
 
 
 
 
1.
Income before income taxes
$
251,198

 
$
266,888

 
$
243,909

 
$
361,469

 
$
741,795

 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
2.
Interest expense
35,018

 
33,101

 
27,968

 
20,872

 
—

(1) 
3.
Interest credited on investment-type contracts
7,612

 
8,300

 
8,584

 
10,180

 
12,997

 
4.
Interest factor on rental expense
614

 
513

 
498

 
481

 
480

 
5.
Total fixed charges (2 + 3 + 4)
43,244

 
41,914

 
37,050

 
31,533

 
13,477

 
6.
Earnings before fixed charges (1 + 5)
$
294,442

 
$
308,802

 
$
280,959

 
$
393,002

 
$
755,272

 
 
Ratios:
 
 
 
 
 
 
 
 
 
 
7.
Earnings to total fixed charges (6 / 5)
6.8

 
7.4

 
7.6

 
12.5

 
56.0

 
____________________
(1) 
Prior to the IPO in Apri1 2010, Primerica had no outstanding long-term debt and, subsequently, did not incur interest expense related to such obligations.