Exhibit 12.1
THE CHUBB CORPORATION
COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS TO FIXED CHARGES
Years Ended December 31 | ||||||||||||||||||||
2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||
(in millions except for ratio amounts) | ||||||||||||||||||||
Income from continuing operations before provision for income taxes | $ | 2,988 | $ | 2,962 | $ | 2,407 | $ | 3,937 | $ | 3,525 | ||||||||||
Less: | ||||||||||||||||||||
Income (loss) from equity investees | 340 | (9 | ) | (14 | ) | 390 | 266 | |||||||||||||
Add: | ||||||||||||||||||||
Interest expensed | 248 | 248 | 240 | 206 | 134 | |||||||||||||||
Capitalized interest amortized or expensed | 2 | 2 | 8 | 12 | 32 | |||||||||||||||
Portion of rents representative of the interest factor | 28 | 29 | 31 | 31 | 32 | |||||||||||||||
Distributions from equity investees | 125 | 51 | 166 | 151 | 72 | |||||||||||||||
Income as adjusted | $ | 3,051 | $ | 3,301 | $ | 2,866 | $ | 3,947 | $ | 3,529 | ||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expensed | $ | 248 | $ | 248 | $ | 240 | $ | 206 | $ | 134 | ||||||||||
Portion of rents representative of the interest factor | 28 | 29 | 31 | 31 | 32 | |||||||||||||||
Fixed charges | $ | 276 | $ | 277 | $ | 271 | $ | 237 | $ | 166 | ||||||||||
Ratio of consolidated earnings to fixed charges | 11.05 | 11.92 | 10.58 | 16.65 | 21.26 | |||||||||||||||