EXHIBIT 12.2
THE PROGRESSIVE CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED
CHARGES AND SERIAL PREFERRED SHARE DIVIDENDS
($ in millions)
(unaudited)
| Six Months Ended June 30, | ||||
| 2018 | ||||
Income before income taxes | $ | 1,790.9 | ||
|
| |||
Fixed charges: | ||||
Interest and amortization on indebtedness | 79.7 | |||
Portion of rents representative of the interest factor | 4.7 | |||
|
| |||
Total fixed charges | 84.4 | |||
|
| |||
Serial preferred share dividend requirements | 9.9 | |||
|
| |||
Total fixed charges and serial preferred share dividends | 94.3 | |||
|
| |||
Interest capitalized, net of amortized interest | (0.2 | ) | ||
|
| |||
Total income available for fixed charges and serial preferred share dividends | $ | 1,875.1 | ||
|
| |||
Ratio of earnings to combined fixed charges and serial preferred share dividends | 19.9 | |||
|
| |||
