EX-12.2 7 dex122.txt STATEMENT REGARDING THE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12.2 Everest Reinsurance Holdings, Inc. Ratio of Earnings/(Losses) to Fixed Charges (Dollars in thousands)
Six Months Ended June 30, Years Ended December 31, 2003 2002 2002 2001 2000 1999 1998 ---- ---- ---- ---- ---- ---- ---- Earnings: Income/(Loss) before income taxes/(benefits) $ 150,852 $ 82,393 $ 139,872 $ 29,065 $ 202,317 $ 196,582 $ 212,676 Fixed Charges: Assumed interest component of rent expense 936 905 1,942 1,655 1,289 1,225 1,769 Interest expense 28,415 21,218 44,508 46,004 39,386 1,490 0 --------- --------- --------- --------- --------- ---------- ----------- Total fixed charges 29,351 22,123 46,450 47,659 40,675 2,715 1,769 --------- --------- --------- --------- --------- ---------- ----------- Earnings plus fixed charges $ 180,203 $ 104,516 $ 186,322 $ 76,724 $ 242,992 $ 199,297 $ 214,445 ========= ========= ========= ========= ========= ========== =========== Ratio of earnings/(losses) to fixed charges 6.1 to 1 4.7 to 1 4.0 to 1 1.6 to 1 6.0 to 1 73.4 to 1 121.2 to 1 ========= ========= ========= ========= ========= ========== ===========