QuickLinks -- Click here to rapidly navigate through this document
THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(for the year ended December 31, in millions, except ratios) | 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Income before income taxes | $ | 3,166 | $ | 1,352 | $ | 4,306 | $ | 4,711 | $ | 3,716 | ||||||
Interest | 378 | 386 | 388 | 382 | 370 | |||||||||||
Portion of rentals deemed to be interest | 64 | 63 | 68 | 70 | 80 | |||||||||||
Income available for fixed charges | $ | 3,608 | $ | 1,801 | $ | 4,762 | $ | 5,163 | $ | 4,166 | ||||||
Fixed charges: | ||||||||||||||||
Interest | $ | 378 | $ | 386 | $ | 388 | $ | 382 | $ | 370 | ||||||
Portion of rentals deemed to be interest | 64 | 63 | 68 | 70 | 80 | |||||||||||
Total fixed charges | 442 | 449 | 456 | 452 | 450 | |||||||||||
Preferred stock dividend requirements | — | 1 | 4 | 4 | 5 | |||||||||||
Total fixed charges and preferred stock dividend requirements | $ | 442 | $ | 450 | $ | 460 | $ | 456 | $ | 455 | ||||||
Ratio of earnings to fixed charges | 8.17 | 4.01 | 10.44 | 11.43 | 9.26 | |||||||||||
Ratio of earnings to combined fixed charges and preferred stock dividend requirements | 8.17 | 4.00 | 10.35 | 11.31 | 9.15 | |||||||||||
The ratio of earnings to fixed charges is computed by dividing income available for fixed charges by the fixed charges. For purposes of this ratio, fixed charges consist of that portion of rentals deemed representative of the appropriate interest factor.
THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES