1st FRANKLIN FINANCIAL CORP - FORM S-1/A - EX-12 - RATIO OF EARNINGS TO FIXED CHARGES - April 1, 2013

Attached files

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S-1/A - 1ST FRANKLIN FINANCIAL CORPORATION - POST-EFFECTIVE AMENDMENT TO FORM S-1 - 1st FRANKLIN FINANCIAL CORPff_s1z.htm
EX-23 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - 1st FRANKLIN FINANCIAL CORPff_ex23.htm


Exhibit 12




RATIO OF EARNINGS TO FIXED CHARGES



 

2012

2011

2010

2009

2008

 

(In thousands, except ratio data)

Income before income taxes

$

36,663

$

32,229

$

23,423

$

11,050

$

13,891

 

 

 

 

 

 

Interest on indebtedness

11,394

11,641

12,439

13,682

14,728

 

 

 

 

 

 

Portion of rents representative

 

 

 

 

 

of the interest factor

1,739

1,670

1,589

1,576

1,498

 

 

 

 

 

 

Earnings as adjusted

$

49,796

$

45,540

$

37,451

$

26,308

$

30,117

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

Interest on indebtedness

$

11,394

$

11,641

$

12,439

$

13,681

$

14,728

 

 

 

 

 

 

Portion of rents representative

 

 

 

 

 

of the interest factor

1,739

1,670

1,589

1,576

1,498

 

 

 

 

 

 

Fixed charges

$13,133

$13,311

$14,028

$15,257

$16,226

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings

 

 

 

 

 

to fixed charges

3.79

3.42

2.67

1.72

1.86

 

 

 

 

 

 




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