EX-12 6 l12357aexv12.txt EX-12 COMPUTATION OF EARNINGS TO FIXED CHARGES . . . Exhibit No. 12 THE PROGRESSIVE CORPORATION COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (millions) (unaudited)
Years Ended December 31, -------------------------------------------------------------- 2004 2003 2002 2001 2000 --------- --------- --------- -------- ------- Income before income taxes $ 2,450.8 $ 1,859.7 $ 981.4 $ 587.6 $ 31.8 --------- --------- --------- -------- ------- Fixed Charges: Interest and amortization on indebtedness 84.7 97.0 75.1 53.4 81.1 Portion of rents representative of the interest factor 8.9 7.5 5.6 7.4 8.0 --------- --------- --------- -------- ------- Total fixed charges 93.6 104.5 80.7 60.8 89.1 --------- --------- --------- -------- ------- Interest capitalized, net of amortized interest (3.6) (1.2) (.1) (.7) (2.9) --------- --------- --------- -------- ------- Total income available for fixed charges $ 2,540.8 $ 1,963.0 $ 1,062.0 $ 647.7 $ 118.0 ========= ========= ========= ======== ======= Ratio of earnings to fixed charges 27.1 18.8 13.2 10.7 1.3 ========= ========= ========= ======== =======