EX-12.1 3 a14-14156_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)

 

2014

 

2013

 

2014

 

2013

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes

 

$

901

 

$

1,177

 

$

2,371

 

$

2,397

 

Interest

 

92

 

86

 

184

 

178

 

Portion of rentals deemed to be interest

 

17

 

16

 

34

 

32

 

Income available for fixed charges

 

$

1,010

 

$

1,279

 

$

2,589

 

$

2,607

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

Interest

 

$

92

 

$

86

 

$

184

 

$

178

 

Portion of rentals deemed to be interest

 

17

 

16

 

34

 

32

 

Total fixed charges

 

$

109

 

$

102

 

$

218

 

$

210

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

9.14

 

12.52

 

11.81

 

12.39

 

 

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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