Attached files
| file | filename |
|---|---|
| 8-K - 8-K - Amtrust Financial Services, Inc. | d70364d8k.htm |
| EX-5.1 - EXHIBIT 5.1 - Amtrust Financial Services, Inc. | d70364dex51.htm |
| EX-4.2 - EXHIBIT 4.2 - Amtrust Financial Services, Inc. | d70364dex42.htm |
| EX-1.1 - EXHIBIT 1.1 - Amtrust Financial Services, Inc. | d70364dex11.htm |
Exhibit 12.1
AmTrust Financial Services, Inc.
Computation of Ratio of Earnings to Fixed Charges
(Amounts in Thousands)
| Six Months Ended June 30, 2015 |
Year Ended December 31, |
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| 2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||
| Earnings: |
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| Pretax income from continuing operations before adjustment for income or loss from equity investees |
$ | 286,594 | $ | 471,933 | $ | 379,249 | $ | 196,857 | $ | 171,259 | $ | 178,238 | ||||||||||||
| Fixed charges |
24,300 | 48,458 | 34,691 | 28,508 | 16,709 | 12,902 | ||||||||||||||||||
| Company share of pre-tax losses of equity investees for which charges arising from guarantees are included in fixed charges |
— | — | — | — | — | (1,288 | ) | |||||||||||||||||
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| $ | 310,894 | $ | 520,391 | $ | 413,940 | $ | 225,365 | $ | 187,968 | $ | 189,852 | |||||||||||||
| Less: |
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| Interest capitalized |
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||
| Non-controlling interest in pre-tax income (loss) of subsidiaries that have not incurred fixed charges |
5,429 | (416 | ) | (1,633 | ) | 6,873 | 20,730 | 5,109 | ||||||||||||||||
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| 5,429 | (416 | ) | (1,633 | ) | 6,873 | 20,730 | 5,109 | |||||||||||||||||
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| Total Earnings |
$ | 305,465 | $ | 520,807 | $ | 415,573 | $ | 218,492 | $ | 167,238 | $ | 184,743 | ||||||||||||
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| Fixed Charges: |
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| Interest expensed and capitalized, and amortized premiums, discounts and capitalized expenses related to indebtedness |
24,300 | 48,458 | 34,691 | 28,508 | 16,709 | 12,902 | ||||||||||||||||||
| Expense of the interest within rental expense (1) |
— | — | — | — | — | — | ||||||||||||||||||
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| Total Fixed Charges |
$ | 24,300 | $ | 48,458 | $ | 34,691 | $ | 28,508 | $ | 16,709 | $ | 12,902 | ||||||||||||
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| Ratio of Earnings to Fixed Charges |
12.6 | 10.7 | 12.0 | 7.7 | 10.0 | 14.3 | ||||||||||||||||||
| (1) | Deemed to be immaterial |