Exhibit 12.1
Employers Holdings, Inc.
Ratios of Earnings to Fixed Charges
($ in millions)
Three Months Ended March 31, | Years Ended December 31, | ||||||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||||
Net income before income taxes | $ | 29.5 | $ | 140.7 | $ | 99.4 | $ | 106.6 | $ | 53.1 | $ | 97.6 | |||||||||||
Fixed Charges: | |||||||||||||||||||||||
Assumed interest on capital assets (1) | $ | 0.5 | $ | 2.0 | $ | 2.1 | $ | 2.8 | $ | 3.1 | $ | 3.0 | |||||||||||
Interest on Indebtedness | $ | 0.4 | $ | 1.6 | $ | 2.7 | $ | 3.0 | $ | 3.2 | $ | 3.5 | |||||||||||
Total fixed charges | $ | 0.9 | $ | 3.6 | $ | 4.8 | $ | 5.8 | $ | 6.3 | $ | 6.5 | |||||||||||
Net income before income taxes plus fixed charges | $ | 30.4 | $ | 144.3 | $ | 104.2 | $ | 112.4 | $ | 59.4 | $ | 104.1 | |||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | $ | 33.8 | $ | 40.1 | $ | 21.7 | $ | 19.4 | $ | 9.4 | $ | 16.0 | |||||||||||
(1) Interest component of rental expense is estimated to equal 1/3 of such expense, which is considered a reasonable approximation of the interest factor. |