National General Holdings Corp. - FORM 10-Q - EX-12.1 - EXHIBIT 12.1 - May 10, 2016

Attached files

file	filename
EX-31.1 - EXHIBIT 31.1 - National General Holdings Corp.	nghc3312016ex311.htm
EX-31.2 - EXHIBIT 31.2 - National General Holdings Corp.	nghc3312016ex312.htm
EX-32.2 - EXHIBIT 32.2 - National General Holdings Corp.	nghc3312016ex322.htm
EX-32.1 - EXHIBIT 32.1 - National General Holdings Corp.	nghc3312016ex321.htm
10-Q - 10-Q - National General Holdings Corp.	nghc20161q10-q.htm

EXHIBIT 12.1

National General Holdings Corp.

Computation of Ratio of Earnings to Fixed Charges

(Amounts in Thousands)



		Three Months Ended March 31,				Year Ended
		2016				2015				2014				2013				2012				2011
Earnings
Pretax income from continuing operations before adjustment for income or loss from equity investees		$	68,240			$	164,590			$	127,443			$	52,257			$	46,353			$	48,655
Fixed charges		9,141				28,885				17,736				2,042				1,787				1,994
		$	77,381			$	193,475			$	145,179			$	54,299			$	48,140			$	50,649
Less:
Interest capitalized		$	—			$	—			$	—			$	—			$	—			$	—
Non-controlling interest in pre-tax income of subsidiaries that have not incurred fixed charges		12				132				(2		)		82				—				14
		12				132				(2		)		82				—				14
Total Earnings		$	77,369			$	193,343			$	145,181			$	54,217			$	48,140			$	50,635

Fixed Charges:
Interest expensed and capitalized, and amortized premiums, discounts and capitalized expenses related to indebtedness		9,141				28,885				17,736				2,042				1,787				1,994
Expense of the interest within rental expense⁽¹⁾		—				—				—				—				—				—
Total Fixed Charges		$	9,141			$	28,885			$	17,736			$	2,042			$	1,787			$	1,994
Ratio of Earnings to Fixed Charges		8.46				6.69				8.19				26.55				26.94				25.39

⁽¹⁾ Deemed to be immaterial