EX-12.1 4 dex121.htm COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS TO FIXED CHARGES Computation of Ratio of Consolidated Earnings to Fixed Charges

EXHIBIT 12.1

ASSURANT, INC.

COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS TO FIXED CHARGES

(in millions of U.S. dollars except for ratio amounts)

 

     2005    2006    2007    2008    2009    June 30,
2010

Income before income taxes

    $ 655.6    $ 1,095.7    $ 1,011.0    $ 563.3    $ 709.6    $ 501.8

Fixed charges

      72.9      74.6      73.9      73.1      74.6      36.5
                                         

Income as adjusted

    $ 728.5    $ 1,170.3    $ 1,084.9    $ 636.4    $ 784.2    $ 538.3

Fixed charges:

                  

Interest expense, including discount amortization and preferred stock dividends (1)

    $ 61.3    $ 61.2    $ 61.2    $ 61.0    $ 60.7    $ 30.3

Portion of rents representative of an appropriate interest factor

      11.6      13.4      12.7      12.1      13.9      6.2
                                         

Total fixed charges

    $ 72.9    $ 74.6    $ 73.9    $ 73.1    $ 74.6    $ 36.5
                                         

Ratio of consolidated earnings to fixed charges

      9.99      15.69      14.67      8.70      10.51      14.75
                                         

 

(1)

Preferred stock issued is recorded as a liability, thus the corresponding dividend is recorded as interest expense