EX-12 5 l21391aexv12.htm EX-12 EX-12
 

Exhibit No. 12
THE PROGRESSIVE CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(millions)
(unaudited)
                 
    Six Months Ended  
    June 30,  
    2006     2005  
 
                
Income before income taxes
   $ 1,239.4     $ 1,201.4  
 
            
Fixed Charges:
                
Interest and amortization on indebtedness
     41.4       42.0  
Portion of rents representative of the interest factor
     10.9       5.7  
 
            
Total fixed charges
     52.3       47.7  
 
            
Interest capitalized, net of amortized interest
     (1.1 )     (.2 )
 
            
Total income available for fixed charges
   $ 1,290.6     $ 1,248.9  
 
            
Ratio of earnings to fixed charges
     24.7       26.2