EX-12.1 2 a09-18879_1ex12d1.htm EX-12.1

Exhibit 12.1

 

THE 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, except ratios)

 

2009

 

2008

 

2009

 

2008

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes

 

$

941

 

$

1,287

 

$

1,668

 

$

2,601

 

Interest

 

94

 

91

 

186

 

181

 

Portion of rentals deemed to be interest

 

19

 

19

 

39

 

39

 

Income available for fixed charges

 

$

1,054

 

$

1,397

 

$

1,893

 

$

2,821

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

Interest

 

$

94

 

$

91

 

$

186

 

$

181

 

Portion of rentals deemed to be interest

 

19

 

19

 

39

 

39

 

Total fixed charges

 

113

 

110

 

225

 

220

 

Preferred stock dividend requirements

 

1

 

1

 

2

 

3

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges and preferred stock dividend requirements

 

$

114

 

$

111

 

$

227

 

$

223

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

9.35

 

12.70

 

8.44

 

12.81

 

 

 

 

 

 

 

 

 

 

 

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

 

9.26

 

12.54

 

8.35

 

12.65

 

 

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.

 

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