EX-12.1 5 dex121.txt STATEMENT RE: COMP OF RATIO OF EARNINGS Exhibit 12.1
Ambac Financial Group, Inc. Ratio of Earnings to Fixed Charges (In thousands, except ratios) Years Ended December 31, Six Months Ended June 30, -------------------------------------------------------- --------------------------- 2000 1999 1998 1997 1996 2001 2000 -------------------------------------------------------- --------------------------- Earnings: Income before income taxes $482,124 $404,658 $328,912 $285,996 $375,506 $ 269,644 $234,264 Interest expense 37,477 36,525 32,761 21,346 20,925 18,968 18,759 Portion of rentals deemed to be interest 1,859 1,782 1,846 1,699 1,287 478 451 -------------------------------------------------------- ------------------------- Earnings $521,460 $442,965 $363,519 $309,041 $397,718 $ 289,090 $253,474 ======================================================== ========================= Fixed Charges: Interest Expense $37,477 $36,525 $32,761 $21,346 $20,925 $ 18,968 18,759 Portion of rentals deemed to be interest 1,859 1,782 1,846 1,699 1,287 478 451 -------------------------------------------------------- ------------------------- Fixed Charges $39,336 $38,307 $34,607 $23,045 $22,212 $ 19,446 $ 19,210 ======================================================== ========================= Ratio of earnings to fixed charges 13.3 11.6 10.5 13.4 17.9 14.9 13.2 ======================================================== =========================