EX-12.1 2 x84568exv12w1.htm EX-12.1 exv12w1
 
Exhibit 12.1
 
THE CHUBB CORPORATION
 
COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS TO FIXED CHARGES
 
                                         
    Years Ended December 31  
    2010     2009     2008     2007     2006  
    (in millions except for ratio amounts)  
 
Income from continuing operations before provision for income taxes
  $ 2,988     $ 2,962     $ 2,407     $ 3,937     $ 3,525  
Less:
                                       
Income (loss) from equity investees
    340       (9 )     (14 )     390       266  
Add:
                                       
Interest expensed
    248       248       240       206       134  
Capitalized interest amortized or expensed
    2       2       8       12       32  
Portion of rents representative of the interest factor
    28       29       31       31       32  
Distributions from equity investees
    125       51       166       151       72  
                                         
Income as adjusted
  $ 3,051     $ 3,301     $ 2,866     $ 3,947     $ 3,529  
                                         
Fixed charges:
                                       
Interest expensed
  $ 248     $ 248     $ 240     $ 206     $ 134  
Portion of rents representative of the interest factor
    28       29       31       31       32  
                                         
Fixed charges
  $ 276     $ 277     $ 271     $ 237     $ 166  
                                         
Ratio of consolidated earnings to fixed charges
    11.05       11.92       10.58       16.65       21.26