Attached files
Exhibit 12.1
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
| Six Months Ended June 30, |
Years Ended December 31, | ||||||||||||||||||||
| (in millions, except ratios) |
2010 | 2009 | 2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||
| Earnings: |
|||||||||||||||||||||
| Income from continuing operations before provision for income taxes and extraordinary item |
$ | 65.6 | $ | 53.9 | $ | 142.4 | $ | 86.4 | $ | 119.8 | $ | 163.0 | $ | 81.5 | |||||||
| Add: |
|||||||||||||||||||||
| Fixed charges |
13.4 | 15.5 | 29.5 | 34.0 | 23.6 | 16.4 | 21.0 | ||||||||||||||
| Total earnings |
$ | 79.0 | $ | 69.4 | $ | 171.9 | $ | 120.4 | $ | 143.4 | $ | 179.4 | $ | 102.5 | |||||||
| Fixed charges: |
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| Interest expense, net |
$ | 11.5 | $ | 13.7 | $ | 25.7 | $ | 29.9 | $ | 20.9 | $ | 13.0 | $ | 15.0 | |||||||
| Preferred share dividends |
— | — | — | — | 0.1 | 1.5 | 3.4 | ||||||||||||||
| Rental interest factor |
1.9 | 1.8 | 3.8 | 4.1 | 2.6 | 1.9 | 2.6 | ||||||||||||||
| Total fixed charges |
$ | 13.4 | $ | 15.5 | $ | 29.5 | $ | 34.0 | $ | 23.6 | $ | 16.4 | $ | 21.0 | |||||||
| Ratio of earnings to fixed charges |
5.9:1 | 4.5:1 | 5.8:1 | 3.5:1 | 6.1:1 | 10.9:1 | 4.9:1 | ||||||||||||||