EX-12.1 2 a13-19823_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) 

 

2013

 

2012

 

2013

 

2012

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes

 

$

1,177

 

$

1,170

 

$

3,574

 

$

2,855

 

Interest

 

91

 

93

 

269

 

285

 

Portion of rentals deemed to be interest

 

16

 

15

 

48

 

47

 

Income available for fixed charges

 

$

1,284

 

$

1,278

 

$

3,891

 

$

3,187

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

Interest

 

$

91

 

$

93

 

$

269

 

$

285

 

Portion of rentals deemed to be interest

 

16

 

15

 

48

 

47

 

Total fixed charges

 

$

107

 

$

108

 

$

317

 

$

332

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

12.09

 

11.81

 

12.29

 

9.58

 

 

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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