Attached files
| file | filename |
|---|---|
| 8-K - CURRENT REPORT - Amtrust Financial Services, Inc. | v242832_8k.htm |
| EX-10.1 - EXHIBIT 10.1 - Amtrust Financial Services, Inc. | v242832_ex10-1.htm |
| EX-99.1 - EXHIBIT 99.1 - Amtrust Financial Services, Inc. | v242832_ex99-1.htm |
Exhibit 12.1
AmTrust Financial Services, Inc.
Computation of Ratio of Earnings to Fixed Charges
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Nine
Months
Ended September 30, 2011
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Year Ended December 31,
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2010
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2009
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2008
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2007
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2006
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Earnings
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Pre-tax income from continuing operations before adjustment for income or loss from equity investees
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$ | 153,196 | $ | 167,526 | $ | 131,514 | $ | 104,486 | $ | 127,598 | $ | 66,635 | ||||||||||||
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Fixed charges
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12,034 | 12,902 | 16,884 | 18,277 | 10,089 | 5,326 | ||||||||||||||||||
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Company share of pre-tax losses of equity investees for which charges arising from guarantees are included in fixed charges
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- | (1,288 | ) | (822 | ) | (991 | ) | (749 | ) | - | ||||||||||||||
| $ | 165,230 | $ | 179,140 | $ | 147,576 | $ | 121,772 | $ | 136,938 | $ | 71,961 | |||||||||||||
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Less:
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Interest capitalized
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$ | - | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||||
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Non-controlling interest in pre-tax income of subsidiaries that have not incurred fixed charges
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6,753 | 3,875 | - | (2,900 | ) | (6,053 | ) | 244 | ||||||||||||||||
| 6,753 | 3,875 | - | (2,900 | ) | (6,053 | ) | 244 | |||||||||||||||||
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Total Earnings
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$ | 140,981 | $ | 175,265 | $ | 147,576 | $ | 124,672 | $ | 142,991 | $ | 71,717 | ||||||||||||
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Fixed Charges:
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Interest expensed and capitalized, and amortized premiums, discounts and capitalized expenses related to indebtedness
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$ | 12,034 | $ | 12,902 | $ | 16,884 | $ | 18,277 | $ | 10,089 | $ | 5,326 | ||||||||||||
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Estimate of the interest within rental expense1
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- | - | - | - | - | - | ||||||||||||||||||
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Total Fixed Charges
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$ | 12,034 | $ | 12,902 | $ | 16,884 | $ | 18,277 | $ | 10,089 | $ | 5,326 | ||||||||||||
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Ratio of Earnings to Fixed Charges
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11.7x | 13.6x | 8.7x | 6.8x | 14.2x | 13.5x | ||||||||||||||||||
1 Deemed to be immaterial