EX-12.1 2 ex12106302018.htm STATEMENTS OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Exhibit


Exhibit 12.1
ARGO GROUP INTERNATIONAL HOLDINGS, LTD.
STATEMENTS OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratios)
 
 
 
Six Months Ended June 30,
 
For the Years Ended December 31,
 
2018
 
2017
 
2017
 
2016
 
2015
 
2014
 
2013
Earnings:
 
 
 
 
 
 
 
 
 
 
 
 
 
Income before provision for income taxes
$
82.1

 
$
93.5

 
$
39.9

 
$
181.9

 
$
177.5

 
$
216.0

 
$
179.7

Add:
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges
19.3

 
16.1

 
34.7

 
23.7

 
23.7

 
24.8

 
25.1

Total earnings
$
101.4

 
$
109.6

 
$
74.6

 
$
205.6

 
$
201.2

 
$
240.8

 
$
204.8

Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
$
15.5

 
$
12.9

 
$
27.7

 
$
19.6

 
$
19.0

 
$
19.9

 
$
20.2

Rental interest factor
3.8

 
3.2

 
7.0

 
4.1

 
4.7

 
4.9

 
4.9

Total fixed charges
$
19.3

 
$
16.1

 
$
34.7

 
$
23.7

 
$
23.7

 
$
24.8

 
$
25.1

Ratio of earnings to fixed charges
5.3:1

 
6.8:1

 
2.1:1

 
8.7:1

 
8.5:1

 
9.7:1

 
8.2:1