EXHIBIT 12.1
National General Holdings Corp.
Computation of Ratio of Earnings to Fixed Charges
(Amounts in Thousands)
|
| | | | | | | | | | | | | | | | | | | | |
| | | Fiscal Year Ended | | Period from March 1, 2010 (inception) to December 31, |
| | | 2014 | | 2013 | | 2012 | | 2011 | | 2010 |
| Earnings | | | | | | | | | | |
| Pretax income from continuing operations before adjustment for income or loss from equity investees | | $ | 127,443 |
| | $ | 52,257 |
| | $ | 46,353 |
| | $ | 48,655 |
| | $ | 140,743 |
|
| Fixed charges | | 17,736 |
| | 2,042 |
| | 1,787 |
| | 1,994 |
| | 1,795 |
|
| | | $ | 145,179 |
| | $ | 54,299 |
| | $ | 48,140 |
| | $ | 50,649 |
| | $ | 142,538 |
|
| Less: | | | | | | | | | | |
| Interest capitalized | | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
|
| Non-controlling interest in pre-tax income of subsidiaries that have not incurred fixed charges | | (2 | ) | | 82 |
| | — |
| | 14 |
| | — |
|
| | | (2 | ) | | 82 |
| | — |
| | 14 |
| | — |
|
| Total Earnings | | $ | 145,181 |
| | $ | 54,217 |
| | $ | 48,140 |
| | $ | 50,635 |
| | $ | 142,538 |
|
| | | | | | | | | | | |
| Fixed Charges: | | | | | | | | | | |
| Interest expensed and capitalized, and amortized premiums, discounts and capitalized expenses related to indebtedness | | 17,736 |
| | 2,042 |
| | 1,787 |
| | 1,994 |
| | 1,795 |
|
Expense of the interest within rental expense(1) | | — |
| | — |
| | — |
| | — |
| | — |
|
| Total Fixed Charges | | $ | 17,736 |
| | $ | 2,042 |
| | $ | 1,787 |
| | $ | 1,994 |
| | $ | 1,795 |
|
| Ratio of Earnings to Fixed Charges | | 8.19 | | 26.55 | | 26.94 | | 25.39 | | 79.41 |
(1) Deemed to be immaterial
