EX-12 2 l25881aexv12.htm EX-12 EX-12
 

Exhibit No. 12
THE PROGRESSIVE CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(millions)
(unaudited)
                 
    Three Months Ended  
    March 31,  
    2007     2006  
Income before income taxes
   $ 532.7     $ 647.5  
 
            
Fixed Charges:
                
Interest and amortization on indebtedness
     19.1       21.0  
Portion of rents representative of the interest factor
     6.3       5.4  
 
            
Total fixed charges
     25.4       26.4  
 
            
Interest capitalized, net of amortized interest
     (.1 )     (.4 )
 
            
Total income available for fixed charges
   $ 558.0     $ 673.5  
 
            
Ratio of earnings to fixed charges
     22.0       25.5