EX-12 6 ex12301.txt Exhibit 12 THE ST. PAUL COMPANIES, INC. AND SUBSIDIARIES Computation of Ratios Three Months Ended March 31 ------------------ 2001 2000 ------ ------ (In millions, except ratios) -------------------------- EARNINGS: Income from continuing operations before income taxes $298 $520 Add: fixed charges 44 39 ----- ----- Income, as adjusted $342 $559 ===== ===== FIXED CHARGES AND PREFERRED DIVIDENDS: Interest expense and amortization $31 $25 Dividends on preferred capital securities 7 8 Rental expense (1) 6 6 ----- ----- Total fixed charges $44 $39 Preferred stock dividend requirements 4 4 ----- ----- Total fixed charges and preferred stock dividend requirements $48 $43 ===== ===== Ratio of earnings to fixed charges 7.73 14.20 ===== ===== Ratio of earnings to combined fixed charges and preferred stock dividend requirements 7.15 12.95 ===== ===== (1) Interest portion deemed implicit in total rent expense.