EX-12.2 17 dex122.txt STATEMENT REGARDING THE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Everest Reinsurance Holdings, Inc. Ratio of Earnings to Fixed Charges (Dollars in Thousands)
Three Months Ended March 31, Years Ended December 31, 2003 2002 2002 2001 2000 1999 1998 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Earnings: Income before income taxes $ 76,231 $ 60,946 $ 139,872 $ 29,065 $ 202,317 $ 196,582 $ 212,676 Fixed Charges: Assumed interest component of rent expense 458 450 1,942 1,655 1,289 1,225 1,769 Interest expense 14,212 10,637 44,508 46,004 39,386 1,490 0 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total fixed charges 14,670 11,087 46,450 47,659 40,675 2,715 1,769 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Earnings plus fixed charges $ 90,901 $ 72,033 $ 186,322 $ 76,724 $ 242,992 $ 199,297 $ 214,445 =========== =========== =========== =========== =========== =========== =========== Ratio of earnings to fixed charges 6.2 to 1 6.5 to 1 4.0 to 1 1.6 to 1 6.0 to 1 73.4 to 1 121.2 to 1 =========== =========== =========== =========== =========== =========== ===========