Attached files
Exhibit 12.1
ARGO GROUP INTERNATIONAL HOLDINGS, LTD.
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED SHARE DIVIDENDS
| Nine Months Ended | |||||||||||||||||||||
| September 30, | Years Ended December 31, | ||||||||||||||||||||
| (in millions, except ratios) |
2009 | 2008 | 2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||
| Earnings: |
|||||||||||||||||||||
| Income from continuing operations before provision for income taxes |
$ | 91.3 | $ | 64.5 | $ | 86.4 | $ | 119.8 | $ | 163.0 | $ | 81.5 | $ | 60.7 | |||||||
| Add: |
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| Fixed charges |
22.7 | 25.0 | 34.0 | 23.7 | 16.4 | 21.0 | 16.9 | ||||||||||||||
| Total earnings |
$ | 114.0 | $ | 89.5 | $ | 120.4 | $ | 143.5 | $ | 179.4 | $ | 102.5 | $ | 77.6 | |||||||
| Fixed charges: |
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| Interest expense, net |
$ | 19.8 | $ | 22.2 | $ | 29.9 | $ | 21.0 | $ | 13.0 | $ | 15.0 | $ | 11.0 | |||||||
| Preferred share dividends |
— | — | — | 0.1 | 1.5 | 3.4 | 3.8 | ||||||||||||||
| Rental interest factor |
2.9 | 2.8 | 4.1 | 2.6 | 1.9 | 2.6 | 2.1 | ||||||||||||||
| Total fixed charges |
$ | 22.7 | $ | 25.0 | $ | 34.0 | $ | 23.7 | $ | 16.4 | $ | 21.0 | $ | 16.9 | |||||||
| Ratio of earnings to fixed charges |
5.0:1 | 3.6:1 | 3.5:1 | 6.1:1 | 10.9:1 | 4.9:1 | 4.6:1 | ||||||||||||||