EX-12.1 4 ago-12312012x10xkex121.htm EXHIBIT 12.1 AGO-12.31.2012-10-K Ex. 12.1


Exhibit 12.1

ASSURED GUARANTY LTD.
COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS TO FIXED CHARGES
(in millions, except for ratio amounts)
 
Year Ended December 31,
 
2012
 
2011
 
2010
 
2009
 
2008
Income (loss) before income taxes
$
132

 
$
1,029

 
$
534

 
$
109

 
$
98

Fixed Charges
95

 
103

 
104

 
66

 
25

Income (loss) as adjusted
227

 
1,132

 
638

 
175

 
123

Fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense
92

 
99

 
100

 
63

 
23

Portion of rents representative of the interest factor
3

 
4

 
4

 
3

 
2

Total fixed charges
$
95

 
$
103

 
$
104

 
$
66

 
$
25

Ratio of consolidated earnings to fixed charges
2.4

 
11.0

 
6.1

 
2.7

 
4.9