EXHIBIT 12.1
ASSURANT, INC.
COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS TO FIXED CHARGES
(in millions of U.S. dollars except for ratio amounts)
| March 31, 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |||||||||||||||||||
Income before income taxes | $ | 235.3 | $ | 789.7 | $ | 757.8 | $ | 706.2 | $ | 606.5 | $ | 714.3 | ||||||||||||
Fixed charges | 19.6 | 86.8 | 70.2 | 70.2 | 73.8 | 74.6 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Income as adjusted | $ | 254.9 | $ | 876.5 | $ | 828.0 | $ | 776.4 | $ | 680.3 | $ | 788.9 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expense, including discount amortization and preferred stock dividends (1) | $ | 17.1 | $ | 77.7 | $ | 60.3 | $ | 60.4 | $ | 60.6 | $ | 60.7 | ||||||||||||
Portion of rents representative of an appropriate interest factor | 2.5 | 9.1 | 9.9 | 9.8 | 13.2 | 13.9 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total fixed charges | $ | 19.6 | $ | 86.8 | $ | 70.2 | $ | 70.2 | $ | 73.8 | $ | 74.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Ratio of consolidated earnings to fixed charges | 13.01 | 10.10 | 11.79 | 11.06 | 9.22 | 10.58 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
| (1) | Preferred stock issued is recorded as a liability, thus the corresponding dividend is recorded as interest expense. |
1