Attached files

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EX-32.2 - EXHIBIT 32.2 - AMERICAN EQUITY INVESTMENT LIFE HOLDING COa2017-12x31_exhibit322.htm
EX-32.1 - EXHIBIT 32.1 - AMERICAN EQUITY INVESTMENT LIFE HOLDING COa2017-12x31_exhibit321.htm
EX-31.2 - EXHIBIT 31.2 - AMERICAN EQUITY INVESTMENT LIFE HOLDING COa2017-12x31_exhibit312.htm
EX-31.1 - EXHIBIT 31.1 - AMERICAN EQUITY INVESTMENT LIFE HOLDING COa2017-12x31_exhibit311.htm
EX-23.1 - EXHIBIT 23.1 - AMERICAN EQUITY INVESTMENT LIFE HOLDING COa2017-12x31_exhibit231.htm
EX-21.2 - EXHIBIT 21.2 - AMERICAN EQUITY INVESTMENT LIFE HOLDING COa2017-12x31_exhibit212.htm
EX-10.27 - EXHIBIT 10.27 - AMERICAN EQUITY INVESTMENT LIFE HOLDING COa2017-12x31_exhibit1027.htm
10-K - 10-K - AMERICAN EQUITY INVESTMENT LIFE HOLDING COa2017-12x31_ael10k.htm


Exhibit 12.1


Ratio of Earnings to Fixed Charges
 
Year Ended December 31,
 
2017
 
2016
 
2015
 
2014
 
2013
 
 
Consolidated income before income taxes
$
316,271

 
$
130,247

 
$
337,314

 
$
196,064

 
$
389,332

Interest sensitive and index product benefits and amortization of deferred sales inducements
2,200,280

 
976,638

 
1,177,443

 
1,605,119

 
1,525,980

Interest expense on notes and loan payable
30,368

 
28,248

 
28,849

 
36,370

 
38,870

Interest expense on subordinated debentures
14,124

 
12,958

 
12,239

 
12,122

 
12,088

Interest expense on amounts due under repurchase agreements and other interest expense
334

 
30

 
2

 
18

 
139

Interest portion of rental expense
967

 
920

 
902

 
896

 
843

Consolidated earnings
$
2,562,344

 
$
1,149,041

 
$
1,556,749

 
$
1,850,589

 
$
1,967,252

 
 
 
 
 
 
 
 
 
 
Interest sensitive and index product benefits and amortization of deferred sales inducements
$
2,200,280

 
$
976,638

 
$
1,177,443

 
$
1,605,119

 
$
1,525,980

Interest expense on notes and loan payable
30,368

 
28,248

 
28,849

 
36,370

 
38,870

Interest expense on subordinated debentures
14,124

 
12,958

 
12,239

 
12,122

 
12,088

Interest expense on amounts due under repurchase agreements and other interest expense
334

 
30

 
2

 
18

 
139

Interest portion of rental expense
967

 
920

 
902

 
896

 
843

Combined fixed charges
$
2,246,073

 
$
1,018,794

 
$
1,219,435

 
$
1,654,525

 
$
1,577,920

 
 
 
 
 
 
 
 
 
 
Ratio of consolidated earnings to fixed charges
1.1

 
1.1

 
1.3

 
1.1

 
1.2

 
 
 
 
 
 
 
 
 
 
Ratio of consolidated earnings to fixed charges, both excluding interest sensitive and index product benefits and amortization of deferred sales inducements
7.9

 
4.1

 
9.0

 
5.0

 
8.5