EX-12.1 7 y77417exv12w1.htm EX-12.1 exv12w1
 
Exhibit 12.1
 
THE CHUBB CORPORATION
 
COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS TO FIXED CHARGES
 
                                         
    Years Ended December 31  
    2009     2008     2007     2006     2005  
    (in millions except for ratio amounts)  
 
Income from continuing operations before provision for income taxes
  $ 2,962     $ 2,407     $ 3,937     $ 3,525     $ 2,447  
Less:
                                       
Income (loss) from equity investees
    (9 )     (14 )     390       266       186  
Add:
                                       
Interest expensed
    248       240       206       134       135  
Capitalized interest amortized or expensed
    2       8       12       32       15  
Portion of rents representative of the interest factor
    29       31       31       32       34  
Distributions from equity investees
    51       166       151       72       138  
                                         
Income as adjusted
  $ 3,301     $ 2,866     $ 3,947     $ 3,529     $ 2,583  
                                         
Fixed charges:
                                       
Interest expensed
  $ 248     $ 240     $ 206     $ 134     $ 135  
Portion of rents representative of the interest factor
    29       31       31       32       34  
                                         
Fixed charges
  $ 277     $ 271     $ 237     $ 166     $ 169  
                                         
Ratio of consolidated earnings to fixed charges
    11.92       10.58       16.65       21.26       15.28