Exhibit 12.01
THE HARTFORD FINANCIAL SERVICES GROUP, INC.
RATIOS OF CONSOLIDATED EARNINGS TO TOTAL FIXED CHARGES AND CONSOLIDATED EARNINGS
TO TOTAL FIXED CHARGES AND PREFERENCE DIVIDENDS
Six Months Ended
June 30, Year Ended December 31,
------------------ ---------------------------------------------------
(In millions) 2003 2002 2002 2001 2000 1999 1998
- ------------- ---- ---- ---- ---- ---- ---- ----
EARNINGS $(1,596) $ 568 $1,068 $ 341 $1,418 $1,235 $1,475
ADD:
FIXED CHARGES
Interest expense 136 131 265 295 250 219 216
Interest factor attributable to rentals 39 36 73 72 67 61 54
Interest credited to contractholders 557 515 1,048 1,050 964 1,071 1,376
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TOTAL FIXED CHARGES 732 682 1,386 1,417 1,281 1,351 1,646
EARNINGS, AS DEFINED $ (864) $1,250 $2,454 $1,758 $2,699 $2,586 $3,121
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RATIOS
Consolidated earnings, as defined, to total fixed
charges NM [1] 1.8 1.8 1.2 [2] 2.1 1.9 1.9
Consolidated earnings, as defined, to total
fixed charges and preference dividends [3] NM [1] 1.8 1.8 1.2 [2] 2.1 1.9 1.9
Deficiency of consolidated earnings to total
fixed charges and preference dividends $ 2,328 -- -- -- -- -- --
[1] NM: Not meaningful
[2] For 2001, the calculation of the ratios of consolidated earnings to total
fixed charges and of consolidated earnings to total fixed charges and preference
dividends reflect before-tax losses of $678 million relating to the terrorist
attack on September 11, 2001.
[3] We had no dividends on preferred stock for the years 1998 to 2002 or for the
six months ended June 30, 2003 or 2002.
[4] Represents additional earnings that would be necessary to result in a one to
one ratio of consolidated earnings to total fixed charges and preference
dividends. This amount includes a before-tax charge of $2.6 billion related to
the Company's 2003 asbestos reserve addition.