EXHIBIT 12.1
National General Holdings Corp.
Computation of Ratio of Earnings to Fixed Charges
(Amounts in Thousands)
Six Months Ended June 30, | Year Ended | |||||||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||||||
Earnings | ||||||||||||||||||||||||
Pretax income from continuing operations before adjustment for income or loss from equity investees | $ | 71,792 | $ | 210,099 | $ | 164,590 | $ | 127,443 | $ | 52,257 | $ | 46,353 | ||||||||||||
Fixed charges | 23,095 | 40,180 | 28,885 | 17,736 | 2,042 | 1,787 | ||||||||||||||||||
$ | 94,887 | $ | 250,279 | $ | 193,475 | $ | 145,179 | $ | 54,299 | $ | 48,140 | |||||||||||||
Less: | ||||||||||||||||||||||||
Interest capitalized | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Non-controlling interest in pre-tax income (loss) of subsidiaries that have not incurred fixed charges | — | 113 | 132 | (2 | ) | 82 | — | |||||||||||||||||
— | 113 | 132 | (2 | ) | 82 | — | ||||||||||||||||||
Total Earnings | $ | 94,887 | $ | 250,166 | $ | 193,343 | $ | 145,181 | $ | 54,217 | $ | 48,140 | ||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expensed and capitalized, and amortized premiums, discounts and capitalized expenses related to indebtedness | 23,095 | 40,180 | 28,885 | 17,736 | 2,042 | 1,787 | ||||||||||||||||||
Expense of the interest within rental expense(1) | — | — | — | — | — | — | ||||||||||||||||||
Total Fixed Charges | $ | 23,095 | $ | 40,180 | $ | 28,885 | $ | 17,736 | $ | 2,042 | $ | 1,787 | ||||||||||||
Ratio of Earnings to Fixed Charges | 4.11 | 6.23 | 6.69 | 8.19 | 26.55 | 26.94 |
(1) Deemed to be immaterial