Exhibit 12.1
Homeowners Choice, Inc.
Ratio of Earnings to Fixed Charges
and Ratio of Earnings to Fixed Charges and Preferred Stock Dividends
Unaudited
(dollars in thousands)
Nine Months Ended September 30, | Years Ended December 31, | |||||||||||||||||||||||
2012 | 2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||||||
Ratio of Earnings to Fixed Charges | ||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income before income taxes | $ | 28,515 | $ | 16,405 | $ | 8,586 | $ | 17,749 | $ | 20,795 | $ | 1,631 | ||||||||||||
Add: Fixed charges, net | 123 | 80 | 62 | 60 | 45 | 11 | ||||||||||||||||||
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Income before income taxes and fixed charges, net | $ | 28,638 | $ | 16,485 | $ | 8,648 | $ | 17,809 | $ | 20,840 | $ | 1,642 | ||||||||||||
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Fixed Charges: | ||||||||||||||||||||||||
Interest expensed and capitalized | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Amortized premiums, discounts and capitalized expenses related to indebtedness | — | — | — | — | — | — | ||||||||||||||||||
Estimate of the interest within rental expense | 123 | 80 | 62 | 60 | 45 | 11 | ||||||||||||||||||
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Total fixed charges | $ | 123 | $ | 80 | $ | 62 | $ | 60 | $ | 45 | $ | 11 | ||||||||||||
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Ratio of earnings to fixed charges | 232.8 | 206.1 | 139.5 | 296.8 | 463.1 | 149.3 | ||||||||||||||||||
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends | ||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income before income taxes | $ | 28,515 | $ | 16,405 | $ | 8,586 | $ | 17,749 | $ | 20,795 | $ | 1,631 | ||||||||||||
Add: Fixed charges, net | 123 | 80 | 62 | 60 | 45 | 11 | ||||||||||||||||||
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Income before income taxes and fixed charges, net | $ | 28,638 | $ | 16,485 | $ | 8,648 | $ | 17,809 | $ | 20,840 | $ | 1,642 | ||||||||||||
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Fixed Charges: | ||||||||||||||||||||||||
Interest expensed and capitalized | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Amortized premiums, discounts and capitalized expenses related to indebtedness | — | — | — | — | — | — | ||||||||||||||||||
Estimate of the interest within rental expense | 123 | 80 | 62 | 60 | 45 | 11 | ||||||||||||||||||
Preferred stock dividends | 286 | 815 | — | — | — | — | ||||||||||||||||||
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Total fixed charges and preferred stock dividends | $ | 409 | $ | 895 | $ | 62 | $ | 60 | $ | 45 | $ | 11 | ||||||||||||
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Ratio of earnings to fixed charges and preferred stock dividends | 70.0 | 18.4 | 139.5 | 296.8 | 463.1 | 149.3 |