EX-12.1 2 a06-9297_1ex12d1.htm EX-12

Exhibit 12.1

 

THE ST. PAUL TRAVELERS COMPANIES, INC. AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

(for the three months ended March 31, in millions, except ratios)

 

2006

 

2005

 

 

 

 

 

 

 

Income from continuing operations before income taxes

 

$

1,338

 

$

1,188

 

Interest

 

76

 

71

 

Portion of rentals deemed to be interest

 

18

 

15

 

 

 

 

 

 

 

Income available for fixed charges

 

$

1,432

 

$

1,274

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

Interest

 

$

76

 

$

71

 

Portion of rentals deemed to be interest

 

18

 

15

 

 

 

 

 

 

 

Total fixed charges

 

94

 

86

 

Preferred stock dividend requirements

 

2

 

3

 

 

 

 

 

 

 

Total fixed charges and preferred stock dividend requirements

 

$

96

 

$

89

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

15.25

 

14.78

 

 

 

 

 

 

 

Ratio of earnings to combined fixed charges and preferred dividend requirements

 

14.93

 

14.38

 

 

The ratio of earnings to fixed charges is computed by dividing income available for 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.