EX-12.1 4 a06-15227_1ex12d1.htm EX-12

Exhibit 12.1

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

 

Three Months Ended
 June 30,

 

Six Months Ended
 June 30,

 

(in millions)

 

2006

 

2005

 

2006

 

2005

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before income taxes

 

$

1,344

 

$

1,294

 

$

2,682

 

$

2,482

 

Interest

 

78

 

70

 

154

 

141

 

Portion of rentals deemed to be interest

 

17

 

15

 

35

 

30

 

 

 

 

 

 

 

 

 

 

 

Income available for fixed charges

 

$

1,439

 

$

1,379

 

$

2,871

 

$

2,653

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

Interest

 

$

78

 

$

70

 

$

154

 

$

141

 

Portion of rentals deemed to be interest

 

17

 

15

 

35

 

30

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges

 

95

 

85

 

189

 

171

 

Preferred stock dividend requirements

 

2

 

2

 

4

 

5

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges and preferred stock dividend requirements

 

$

97

 

$

87

 

$

193

 

$

176

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

15.22

 

16.22

 

15.23

 

15.51

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to combined fixed charges and preferred stock dividend requirements

 

14.92

 

15.85

 

14.93

 

15.07

 

 

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.