EX-12 2 exhibit12q2_2018.htm EXHIBIT 12 Exhibit



Exhibit 12

MGIC INVESTMENT CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
 
 
 
 
 
 
 
(In thousands, except ratio)
 
Six Months Ended June 30, 2018
 
Six Months Ended June 30, 2017
 
 
 
 
 
 
 
Net earnings before taxes
 
$
417,547

 
$
354,573

 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
Interest expense
 
25,618

 
29,307

 
Amortization of debt expense
 
861

 
1,199

 
Rent expense (One-Fourth of all rentals, reasonable approximation of the interest factor)
 
264

 
263

 
Total fixed charges
 
26,743

 
30,769

 
 
 
 
 
 
 
Net earnings and fixed charges
 
$
444,290

 
$
385,342

 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
16.6

 
12.5