EX-12 2 l16670aexv12.htm EX-12 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12
 

Exhibit No. 12
THE PROGRESSIVE CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(millions)
(unaudited)
                 
    Nine Months Ended  
    September 30,  
    2005     2004  
Income before income taxes
   $ 1,649.2     $ 1,833.1  
 
            
Fixed Charges:
                
Interest and amortization on indebtedness
     62.9       63.6  
Portion of rents representative of the interest factor
     9.3       6.6  
 
            
Total fixed charges
     72.2       70.2  
 
            
Interest capitalized, net of amortized interest
     (.4 )     (3.1 )
 
            
Total income available for fixed charges
   $ 1,721.0     $ 1,900.2  
 
            
Ratio of earnings to fixed charges
     23.8       27.1