0001193125-17-064023.txt : 20170301 0001193125-17-064023.hdr.sgml : 20170301 20170301090133 ACCESSION NUMBER: 0001193125-17-064023 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20170301 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20170301 DATE AS OF CHANGE: 20170301 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MERCURY GENERAL CORP CENTRAL INDEX KEY: 0000064996 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 952211612 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12257 FILM NUMBER: 17651579 BUSINESS ADDRESS: STREET 1: 4484 WILSHIRE BLVD CITY: LOS ANGELES STATE: CA ZIP: 90010 BUSINESS PHONE: 2139371060 MAIL ADDRESS: STREET 1: 4484 WILSHIRE BLVD CITY: LOS ANGELES STATE: CA ZIP: 90010 8-K 1 d310902d8k.htm FORM 8-K Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 1, 2017

 

 

MERCURY GENERAL CORPORATION

(Exact Name of Registrant as Specified in Charter)

 

 

 

California   001-12257   95-221-1612

(State or Other Jurisdiction

of Incorporation)

  

(Commission

File Number)

  

(I.R.S. Employer

Identification No.)

4484 Wilshire Boulevard

Los Angeles, California 90010

(Address of Principal Executive Offices)

 

 

(323) 937-1060

(Registrant’s telephone number, including area code)

 

 

Not applicable

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14.a-12)

 

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Item 8.01. Other Events

Mercury General Corporation is filing as Exhibit 12.1 to this Current Report on Form 8-K a Statement Regarding Computation of Ratio of Earnings to Fixed Charges, which includes the calculation of its historical ratio of earnings to fixed charges for each of the five fiscal years in the five-year period ended December 31, 2016, and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits.

 

  12.1 Ratio of Earnings to Fixed Charges for each of the five fiscal years in the five-year period ended December 31, 2016.

 

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: March 1, 2017     MERCURY GENERAL CORPORATION
    By:   /S/ THEODORE STALICK
    Name:     Theodore Stalick
    Its:     Senior Vice President and Chief Financial Officer

 

3

EX-12.1 2 d310902dex121.htm EX-12.1 EX-12.1

EXHIBIT 12.1

Mercury General Corporation

Computation of Ratio of Earnings to Fixed Charges

 

     Year Ended December 31,  
     2016     2015     2014     2013     2012  

Computation of Earnings:

           

Income from continuing operations before income taxes

    $ 70,724     $ 70,567     $ 247,425     $ 132,096     $ 135,310  

Add: Fixed charges

      9,541       8,516       7,633       8,050       7,618  

Estimated interest component on uncertain tax positions (1)

      (399 )      (274 )      (283 )      (392 )      (166 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total earnings

    $ 79,866     $ 78,809     $ 254,775     $ 139,754     $ 142,762  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Computation of Fixed Charges:

           

Interest expense, including amortization of premiums, discounts and debt issuance costs

    $ 3,962     $ 3,168     $ 2,637     $ 1,260     $ 1,543  

Estimated interest component of rental expense (2)

      5,180       5,074       4,713       6,398       5,909  

Estimated interest component on uncertain tax positions (1)

      399       274       283       392       166  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total fixed charges

    $ 9,541     $ 8,516     $ 7,633     $ 8,050     $ 7,618  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings to fixed charges

      8.4       9.3       33.4       17.4       18.7  

 

(1) The Company recognizes interest and penalties relating to uncertain tax positions in income tax expense.
(2) Represents the estimated portion of operating lease rental expense that is considered by us to be representative of interest (one-third of rental expense).

For the periods indicated above, we had no outstanding shares of preferred stock with required dividend payments.