Exhibit 12.1
ACE Limited
Ratio of Earnings to Fixed Charges
(in millions of U.S. dollars except ratios)
| Nine Months Ended September 30 | Fiscal Year Ended December 31 | |||||||||||||||||||||||
| 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |||||||||||||||||||
Earnings per Financial Statements | $ | 2,298 | $ | 3,758 | $ | 2,706 | $ | 1,540 | $ | 3,085 | $ | 2,523 | ||||||||||||
Add: | ||||||||||||||||||||||||
Provision for income taxes | 402 | 480 | 270 | 502 | 553 | 521 | ||||||||||||||||||
Fixed charges | 245 | 318 | 287 | 288 | 251 | 253 | ||||||||||||||||||
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Earnings for Computation | $ | 2,945 | $ | 4,556 | $ | 3,263 | $ | 2,330 | $ | 3,889 | $ | 3,297 | ||||||||||||
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Fixed Charges | ||||||||||||||||||||||||
Interest Expense(1) | $ | 213 | $ | 275 | $ | 250 | $ | 250 | $ | 224 | $ | 225 | ||||||||||||
Portion of rental expense deemed to be interest | 32 | 43 | 37 | 38 | 27 | 28 | ||||||||||||||||||
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Total Fixed Charges | $ | 245 | $ | 318 | $ | 287 | $ | 288 | $ | 251 | $ | 253 | ||||||||||||
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Ratio of Earnings to Fixed Charges | 12.0 | 14.4 | 11.4 | 8.1 | 15.5 | 13.0 | ||||||||||||||||||
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(1) ACE Limited recognizes accruals for interest and penalties, if any, related to unrecognized tax benefits in income tax expense (i.e., excluded from interest expense).
