EX-12.1 3 a13-14006_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)

 

2013

 

2012

 

2013

 

2012

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes

 

$

1,177

 

$

608

 

$

2,397

 

$

1,685

 

Interest

 

86

 

96

 

178

 

192

 

Portion of rentals deemed to be interest

 

16

 

16

 

32

 

32

 

 

 

 

 

 

 

 

 

 

 

Income available for fixed charges

 

$

1,279

 

$

720

 

$

2,607

 

$

1,909

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

Interest

 

$

86

 

$

96

 

$

178

 

$

192

 

Portion of rentals deemed to be interest

 

16

 

16

 

32

 

32

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges

 

$

102

 

$

112

 

$

210

 

$

224

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

12.52

 

6.42

 

12.39

 

8.51

 

 

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.