Exhibit 12
THE PROGRESSIVE CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(millions)
(unaudited)
| Nine Months Ended September 30. | Years Ended December 31, | |||||||||||||||||||||||
| 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |||||||||||||||||||
Income before income taxes | $ | 1,361.0 | $ | 1,720.0 | $ | 1,317.7 | $ | 1,487.0 | $ | 1,565.2 | $ | 1,556.9 | ||||||||||||
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Fixed Charges: | ||||||||||||||||||||||||
Interest and amortization on indebtedness | 88.0 | 119.1 | 124.1 | 133.1 | 134.6 | 141.5 | ||||||||||||||||||
Portion of rents representative of the interest factor | 4.4 | 6.7 | 7.2 | 7.6 | 9.2 | 9.9 | ||||||||||||||||||
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Total fixed charges | 92.4 | 125.8 | 131.3 | 140.7 | 143.8 | 151.4 | ||||||||||||||||||
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Interest capitalized, net of amortized interest | (.9 | ) | (.6 | ) | 0 | (.2 | ) | (1.0 | ) | (2.2 | ) | |||||||||||||
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Total income available for fixed charges | $ | 1,452.5 | $ | 1,845.2 | $ | 1,449.0 | $ | 1,627.5 | $ | 1,708.0 | $ | 1,706.1 | ||||||||||||
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Ratio of earnings to fixed charges | 15.7 | 14.7 | 11.0 | 11.6 | 11.9 | 11.3 | ||||||||||||||||||
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