Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - HCC INSURANCE HOLDINGS INC/DE/ | h68417e10vq.htm |
| EX-31.2 - EX-31.2 - HCC INSURANCE HOLDINGS INC/DE/ | h68417exv31w2.htm |
| EX-32.1 - EX-32.1 - HCC INSURANCE HOLDINGS INC/DE/ | h68417exv32w1.htm |
| EX-31.1 - EX-31.1 - HCC INSURANCE HOLDINGS INC/DE/ | h68417exv31w1.htm |
Exhibit 12
HCC Insurance Holdings, Inc. and Subsidiaries
Statement of Ratio of Earnings to Fixed Charges
Statement of Ratio of Earnings to Fixed Charges
(unaudited, in thousands)
| Nine months ended September 30, | Three months ended September 30, | |||||||||||||||
| 2009 | 2008 | 2009 | 2008 | |||||||||||||
| (as adjusted) (1) | (as adjusted) (1) | |||||||||||||||
Interest factor of rent expense (2) |
$ | 3,982 | $ | 3,287 | $ | 1,341 | $ | 1,191 | ||||||||
Interest expense |
11,816 | 14,547 | 3,549 | 4,768 | ||||||||||||
Capitalized interest |
51 | — | — | — | ||||||||||||
Total fixed charges |
$ | 15,849 | $ | 17,834 | $ | 4,890 | $ | 5,959 | ||||||||
Earnings from before income tax expense |
$ | 393,048 | $ | 333,462 | $ | 137,041 | $ | 82,761 | ||||||||
Fixed charges |
15,849 | 17,834 | 4,890 | 5,959 | ||||||||||||
Earnings per calculation |
$ | 408,897 | $ | 351,296 | $ | 141,931 | $ | 88,720 | ||||||||
Ratio of earnings to fixed charges (3) |
25.80 | 19.70 | 29.02 | 14.89 | ||||||||||||
| (1) | Adjusted to reflect adoption of new convertible debt accounting standard as of January 1, 2009. | |
| (2) | Estimated to be 33% of total rent expense. | |
| (3) | Earnings per calculation divided by total fixed charges. |