EX-12 5 l19904aexv12.htm EX-12 COMPUTATION OF EARNINGS EX-12 Computation of Earnings
 

Exhibit No. 12
THE PROGRESSIVE CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(millions)
(unaudited)
                 
    Three Months Ended  
    March 31,  
    2006     2005  
Income before income taxes
   $ 647.5     $ 614.7  
 
            
Fixed Charges:
                
Interest and amortization on indebtedness
     21.0       21.0  
Portion of rents representative of the interest factor
     5.4       2.8  
 
            
Total fixed charges
     26.4       23.8  
 
            
Interest capitalized, net of amortized interest
     (.4 )     —  
 
            
Total income available for fixed charges
   $ 673.5     $ 638.5  
 
            
Ratio of earnings to fixed charges
     25.5       26.8