EX-12.0 8 wtm-20121231x10xkxex12.htm EXHIBIT 12 WTM-2012.12.31-10-K-Ex 12

Exhibit 12
WHITE MOUNTAINS INSURANCE GROUP, LTD.
Statement Re Computation of Ratio of Earnings to Fixed Charges
($ in millions except ratios)
 
Year Ended
 
2012
2011
2010
2009
2008 (1)
Consolidated pre-tax income (loss) from continuing operations before equity in earnings of affiliates, accounting changes and extraordinary items
$
262.8

$
98.0

$
189.3

$
781.0

$
(1,016.00
)
Distributed income of equity investees
 
 
—
—
—
Interest expense on debt
44.8

55.2

57.3

70.8

81.6

Interest portion of rental expense
6.3

7.6

9.4

11.7

13.1

Earnings (loss)
$
313.9

$
160.8

$
256.0

$
863.5

$
(921.30
)
Interest expense on debt
44.8

55.2

$
57.3

$
70.8

$
81.6

Interest portion of rental expense
6.3

7.6

9.4

11.7

13.1

Fixed charges
$
51.1

$
62.8

$
66.7

$
82.5

$
94.7

Ratio of earnings to fixed charges
6.1
2.6
3.8
10.5
—
(1) 
Earnings were inadequate to cover fixed charges by $1,016.4 for the year ended December 31, 2008.