EXHIBIT 12.1
THE CHUBB CORPORATION
COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS TO FIXED CHARGES
Years Ended December 31 | ||||||||||||||||||||||
2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||||
(in millions except for ratio amounts) | ||||||||||||||||||||||
Income from continuing operations before provision for income taxes | $ | 3,937 | $ | 3,525 | $ | 2,447 | $ | 2,068 | $ | 934 | ||||||||||||
Less: | ||||||||||||||||||||||
Income from equity investees | 390 | 266 | 186 | 207 | 93 | |||||||||||||||||
Add: | ||||||||||||||||||||||
Interest expensed | 206 | 134 | 135 | 139 | 130 | |||||||||||||||||
Capitalized interest amortized or expensed | 12 | 32 | 15 | 14 | 9 | |||||||||||||||||
Portion of rents representative of the interest factor | 31 | 32 | 34 | 35 | 35 | |||||||||||||||||
Distributions from equity investees | 151 | 72 | 138 | 101 | 17 | |||||||||||||||||
Income as adjusted | $ | 3,947 | $ | 3,529 | $ | 2,583 | $ | 2,150 | $ | 1,032 | ||||||||||||
Fixed charges: | ||||||||||||||||||||||
Interest expensed | $ | 206 | $ | 134 | $ | 135 | $ | 139 | $ | 130 | ||||||||||||
Portion of rents representative of the interest factor | 31 | 32 | 34 | 35 | 35 | |||||||||||||||||
Fixed charges | $ | 237 | $ | 166 | $ | 169 | $ | 174 | $ | 165 | ||||||||||||
Ratio of consolidated earnings to fixed charges | 16.65 | 21.26 | 15.28 | 12.36 | 6.25 | |||||||||||||||||