EX-12.1 4 a73188orex12-1.txt EXHIBIT 12.1 1 EXHIBIT 12.1 STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES MERCURY GENERAL CORPORATION
Three Months Ended Year Ended December 31 March 31, ---------------------------------------------------- 2001 2000 1999 1998 1997 1996 ------------ -------- -------- -------- -------- -------- (Amounts in millions, except ratios) EARNINGS Income Before Income Taxes $ 28,597 $128,555 $168,539 $235,280 $209,779 $136,590 Fixed Charges 2,494 9,789 7,354 6,695 6,656 3,474 -------- -------- -------- -------- -------- -------- Adjusted Earnings $ 31,091 $138,344 $175,893 $241,975 $216,435 $140,064 ======== ======== ======== ======== ======== ======== FIXED CHARGES Interest Expense $ 1,863 $ 7,292 $ 4,960 $ 4,842 $ 4,976 $ 2,004 Portion of Rents Deemed Representative Of Interest Factor (1) 631 2,497 2,394 1,853 1,680 1,470 -------- -------- -------- -------- -------- -------- Total Fixed Charges $ 2,494 $ 9,789 $ 7,354 $ 6,695 $ 6,656 $ 3,474 ======== ======== ======== ======== ======== ======== RATIO OF EARNINGS TO FIXED CHARGES 12.5 14.1 23.9 36.1 32.5 40.3 ======== ======== ======== ======== ======== ========
(1) Generally deemed to be one-third of rental expense.