EX-12 2 exhibit12q1_2017.htm EXHIBIT 12 Exhibit


MGIC INVESTMENT CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In thousands, except ratio)
 
Three Months Ended March 31, 2017
 
 
 
Net earnings before taxes
 
$
173,957

 
 
 
Fixed Charges:
 
 
Interest expense
 
17,855

Amortization of debt expense
 
698

Rent expense (One-Fourth of all rentals, reasonable approximation of the interest factor)
 
145

Total fixed charges
 
18,698

 
 
 
Net earnings and fixed charges
 
$
192,655

 
 
 
Ratio of Earnings to Fixed Charges
 
10.3