EX-12.1 4 a05-17997_1ex12d1.htm STATEMENTS REGARDING COMPUTATION OF RATIOS

EXHIBIT 12.1

 

THE ST. PAUL TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

(in millions, except ratios)

 

2005

 

2004

 

2005

 

2004

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations before income taxes and minority interest

 

$

(8

)

$

364

 

$

2,474

 

$

640

 

Interest

 

70

 

67

 

211

 

166

 

Portion of rentals deemed to be interest

 

16

 

17

 

46

 

41

 

Income available for fixed charges

 

$

78

 

$

448

 

$

2,731

 

$

847

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

Interest

 

$

70

 

$

67

 

$

211

 

$

166

 

Portion of rentals deemed to be interest

 

16

 

17

 

46

 

41

 

Total fixed charges

 

86

 

84

 

257

 

207

 

Preferred stock dividend requirements

 

2

 

3

 

8

 

6

 

Total fixed charges and preferred stock dividend requirements

 

$

88

 

$

87

 

$

265

 

$

213

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

0.91

 

5.33

 

10.63

 

4.09

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to combined fixed charges and preferred dividend requirements

 

0.89

 

5.14

 

10.31

 

3.97

 

 

The data included in this exhibit for the three months and nine months ended September 30, 2005 reflect information for the Company for those periods.  Data for the three months and nine months ended September 30, 2004 reflect information for TPC for both periods, and information for SPC since the merger date of April 1, 2004. 

 

The ratio of earnings to fixed charges is computed by dividing income before federal income taxes and minority interest and fixed charges by the fixed charges.  For purposes of this ratio, fixed charges consist of that portion of rentals deemed representative of the appropriate interest factor. 

 

1