EX-12.1 3 a16-6615_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)

 

2016

 

2015

 

Income before income taxes

 

$

917

 

$

1,148

 

Interest

 

91

 

92

 

Portion of rentals deemed to be interest

 

17

 

16

 

Income available for fixed charges

 

$

1,025

 

$

1,256

 

Fixed charges:

 

 

 

 

 

Interest

 

$

91

 

$

92

 

Portion of rentals deemed to be interest

 

17

 

16

 

Total fixed charges

 

$

108

 

$

108

 

Ratio of earnings to fixed charges

 

9.54

 

11.59

 

 

The ratio of earnings to fixed charges is computed by dividing income available for fixed charges by the total fixed charges. For purposes of this ratio, fixed charges consist of interest and that portion of rentals deemed representative of the appropriate interest factor.