EX-12 3 exhibit12q3_2018.htm EXHIBIT 12 Exhibit



Exhibit 12

MGIC INVESTMENT CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
 
 
 
 
 
 
 
(In thousands, except ratio)
 
Nine Months Ended September 30, 2018
 
Nine Months Ended September 30, 2017
 
 
 
 
 
 
 
Net earnings before taxes
 
$
649,441

 
$
539,040

 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
Interest expense
 
38,443

 
42,143

 
Amortization of debt expense
 
1,294

 
1,636

 
Rent expense (One-Fourth of all rentals, reasonable approximation of the interest factor)
 
377

 
386

 
Total fixed charges
 
40,114

 
44,165

 
 
 
 
 
 
 
Net earnings and fixed charges
 
$
689,555

 
$
583,205

 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
17.2

 
13.2