EX-12.1 2 a10-6124_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
March 31,

 

(in millions, except ratios)

 

2010

 

2009

 

 

 

 

 

 

 

Income before income taxes

 

$

857

 

$

727

 

Interest

 

98

 

92

 

Portion of rentals deemed to be interest

 

17

 

20

 

 

 

 

 

 

 

Income available for fixed charges

 

$

972

 

$

839

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

Interest

 

$

98

 

$

92

 

Portion of rentals deemed to be interest

 

17

 

20

 

 

 

 

 

 

 

Total fixed charges

 

115

 

112

 

Preferred stock dividend requirements

 

1

 

1

 

 

 

 

 

 

 

Total fixed charges and preferred stock dividend requirements

 

$

116

 

$

113

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

8.44

 

7.52

 

 

 

 

 

 

 

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

 

8.37

 

7.44

 

 

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.