Attached files
EXHIBIT 12
ARGO GROUP INTERNATIONAL HOLDINGS, LTD.
STATEMENTS OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
AND EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED SHARE DIVIDENDS
| Years Ended December 31, | |||||||||||||||
| (in millions, except ratios) | 2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||
| Earnings: |
|||||||||||||||
| Income from continuing operations before provision for income taxes and extraordinary item |
$ | 142.4 | $ | 86.4 | $ | 119.8 | $ | 163.0 | $ | 81.5 | |||||
| Add: |
|||||||||||||||
| Fixed charges |
29.5 | 34.0 | 23.6 | 16.4 | 21.0 | ||||||||||
| Total earnings |
$ | 171.9 | $ | 120.4 | $ | 143.4 | $ | 179.4 | $ | 102.5 | |||||
| Fixed charges: |
|||||||||||||||
| Interest expense, net |
$ | 25.7 | $ | 29.9 | $ | 20.9 | $ | 13.0 | $ | 15.0 | |||||
| Preferred share dividends |
- | - | 0.1 | 1.5 | 3.4 | ||||||||||
| Rental interest factor |
3.8 | 4.1 | 2.6 | 1.9 | 2.6 | ||||||||||
| Total fixed charges |
$ | 29.5 | $ | 34.0 | $ | 23.6 | $ | 16.4 | $ | 21.0 | |||||
| Ratio of earnings to fixed charges |
5.8:1 | 3.5:1 | 6.1:1 | 10.9:1 | 4.9:1 | ||||||||||