Everest Reinsurance Holdings, Inc.
Ratio of Earnings to Fixed Charges
(Dollars in Thousands)
Three Months
Ended March 31, Years Ended December 31,
2003 2002 2002 2001 2000 1999 1998
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Earnings: Income before income
taxes $ 76,231 $ 60,946 $ 139,872 $ 29,065 $ 202,317 $ 196,582 $ 212,676
Fixed Charges:
Assumed interest component
of rent expense 458 450 1,942 1,655 1,289 1,225 1,769
Interest expense 14,212 10,637 44,508 46,004 39,386 1,490 0
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Total fixed charges 14,670 11,087 46,450 47,659 40,675 2,715 1,769
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Earnings plus fixed charges $ 90,901 $ 72,033 $ 186,322 $ 76,724 $ 242,992 $ 199,297 $ 214,445
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Ratio of earnings to fixed
charges 6.2 to 1 6.5 to 1 4.0 to 1 1.6 to 1 6.0 to 1 73.4 to 1 121.2 to 1
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