EX-12.1 2 a12-8742_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) 

 

2012

 

2011

 

 

 

 

 

 

 

Income before income taxes

 

$

1,077

 

$

969

 

Interest

 

96

 

96

 

Portion of rentals deemed to be interest

 

16

 

16

 

 

 

 

 

 

 

Income available for fixed charges

 

$

1,189

 

$

1,081

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

Interest

 

$

96

 

$

96

 

Portion of rentals deemed to be interest

 

16

 

16

 

 

 

 

 

 

 

Total fixed charges

 

112

 

112

 

Preferred stock dividend requirements

 

—

 

1

 

 

 

 

 

 

 

Total fixed charges and preferred stock dividend requirements

 

$

112

 

$

113

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

10.59

 

9.64

 

 

 

 

 

 

 

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

 

10.59

 

9.57

 

 

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.