EX-12.1 2 a12-20034_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
September 30,

 

Nine Months Ended
September 30,

 

(in millions, except ratios)

 

2012

 

2011

 

2012

 

2011

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes

 

$

1,170

 

$

332

 

$

2,855

 

$

574

 

Interest

 

93

 

97

 

285

 

290

 

Portion of rentals deemed to be interest

 

15

 

16

 

47

 

48

 

 

 

 

 

 

 

 

 

 

 

Income available for fixed charges

 

$

1,278

 

$

445

 

$

3,187

 

$

912

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

Interest

 

$

93

 

$

97

 

$

285

 

$

290

 

Portion of rentals deemed to be interest

 

15

 

16

 

47

 

48

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges

 

108

 

113

 

332

 

338

 

Preferred stock dividend requirements

 

—

 

—

 

—

 

1

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges and preferred stock dividend requirements

 

$

108

 

$

113

 

$

332

 

$

339

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

11.81

 

3.96

 

9.58

 

2.70

 

 

 

 

 

 

 

 

 

 

 

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

 

11.81

 

3.96

 

9.58

 

2.69

 

 

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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