Exhibit 12.1
THE CHUBB CORPORATION
COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS TO FIXED CHARGES
Years Ended December 31 | ||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||
(in millions except for ratio amounts) | ||||||||||||||||||||
Income from continuing operations before provision for income taxes | $ | 3,237 | $ | 1,996 | $ | 2,199 | $ | 2,988 | $ | 2,962 | ||||||||||
Less: | ||||||||||||||||||||
Income (loss) from equity investees | 183 | 68 | 240 | 340 | (9 | ) | ||||||||||||||
Add: | ||||||||||||||||||||
Interest expensed | 213 | 224 | 245 | 248 | 248 | |||||||||||||||
Capitalized interest amortized or expensed | 3 | 2 | — | 2 | 2 | |||||||||||||||
Portion of rents representative of the interest factor | 28 | 27 | 28 | 28 | 29 | |||||||||||||||
Distributions from equity investees | 258 | 154 | 184 | 125 | 51 | |||||||||||||||
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Income as adjusted | $ | 3,556 | $ | 2,335 | $ | 2,416 | $ | 3,051 | $ | 3,301 | ||||||||||
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Fixed charges: | ||||||||||||||||||||
Interest expensed | $ | 213 | $ | 224 | $ | 245 | $ | 248 | $ | 248 | ||||||||||
Portion of rents representative of the interest factor | 28 | 27 | 28 | 28 | 29 | |||||||||||||||
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Fixed charges | $ | 241 | $ | 251 | $ | 273 | $ | 276 | $ | 277 | ||||||||||
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Ratio of consolidated earnings to fixed charges | 14.76 | 9.30 | 8.85 | 11.05 | 11.92 | |||||||||||||||
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