EX-12 3 l27204aexv12.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,  
    2007     2006  
Income before income taxes
   $ 939.6     $ 1,239.4  
 
            
Fixed Charges:
                
Interest and amortization on indebtedness
     40.0       41.4  
Portion of rents representative of the interest factor
     12.3       10.9  
 
            
Total fixed charges
     52.3       52.3  
 
            
Interest capitalized, net of amortized interest
     (.3 )     (1.1 )
 
            
Total income available for fixed charges
   $ 991.6     $ 1,290.6  
 
            
Ratio of earnings to fixed charges
     19.0       24.7