Attached files
| file | filename |
|---|---|
| EX-10.1 - 2016 PERFORMANCE BASED RSU GRANT LETTER IBRAHIM - RADIAN GROUP INC | rdn-ex10_1x20160630.htm |
| 10-Q - 10-Q - RADIAN GROUP INC | rdn10q06302016.htm |
| EX-32 - SECTION 1350 CERTIFICATIONS - RADIAN GROUP INC | rdn-ex32_20160630.htm |
| EX-31 - RULE 13A-14(A) CERTIFICATIONS - RADIAN GROUP INC | rdn-ex31_20160630.htm |
| EX-10.4 - 2016 STOCK OPTION AGREEMENT - EXECUTIVE OFFICERS - RADIAN GROUP INC | rdn-ex10_4x20160630.htm |
| EX-10.3 - 2016 PERFORMANCE BASED RSU GRANT LETTER - RADIAN GROUP INC | rdn-ex10_3x20160630.htm |
| EX-10.2 - 2016 STOCK OPTION AGREEMENT FOR IBRAHIM - RADIAN GROUP INC | rdn-ex10_2x20160630.htm |
Exhibit 12
Radian Group Inc.
Ratio of Earnings to Fixed Charges
Six Months Ended | Fiscal Years Ended December 31, | ||||||||||||||||||||||
(In thousands) | June 30, 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||||
Net earnings (loss) from continuing operations | $ | 164,361 | $ | 281,539 | $ | 1,259,574 | $ | (141,851 | ) | $ | (224,105 | ) | $ | (446,790 | ) | ||||||||
Federal and state income tax provision (benefit) | 94,588 | 156,290 | (852,418 | ) | (31,495 | ) | (48,323 | ) | (138,238 | ) | |||||||||||||
Earnings (loss) before income taxes | 258,949 | 437,829 | 407,156 | (173,346 | ) | (272,428 | ) | (585,028 | ) | ||||||||||||||
Equity in net income of affiliates | — | — | — | — | — | — | |||||||||||||||||
Distributed income from equity investees | — | — | — | — | — | — | |||||||||||||||||
Net earnings (loss) | 258,949 | 437,829 | 407,156 | (173,346 | ) | (272,428 | ) | (585,028 | ) | ||||||||||||||
Fixed charges: | |||||||||||||||||||||||
Interest | 44,080 | 91,102 | 90,464 | 74,618 | 51,832 | 61,394 | |||||||||||||||||
One-Third of all rentals | 819 | 1,656 | 1,308 | 1,020 | 1,269 | 1,060 | |||||||||||||||||
Fixed charges | 44,899 | 92,758 | 91,772 | 75,638 | 53,101 | 62,454 | |||||||||||||||||
Preferred dividends | — | — | — | — | — | — | |||||||||||||||||
Fixed charges and preferred dividends | 44,899 | 92,758 | 91,772 | 75,638 | 53,101 | 62,454 | |||||||||||||||||
Net earnings (loss) and fixed charges | $ | 303,848 | $ | 530,587 | $ | 498,928 | $ | (97,708 | ) | $ | (219,327 | ) | $ | (522,574 | ) | ||||||||
Net earnings (loss), fixed charges and preferred dividends | $ | 303,848 | $ | 530,587 | $ | 498,928 | $ | (97,708 | ) | $ | (219,327 | ) | $ | (522,574 | ) | ||||||||
Ratio of net earnings (loss) and fixed charges to fixed charges | 6.8x | 5.7x | 5.4x | (1) | (1) | (1) | |||||||||||||||||
Ratio of net earnings (loss), fixed charges and preferred dividends to fixed charges and preferred dividends | 6.8x | 5.7x | 5.4x | (1) | (1) | (1) | |||||||||||||||||
____________________
(1) | For the fiscal years ended December 31, 2013, 2012 and 2011, earnings were not adequate to cover fixed charges in the amounts of $(97,708), $(219,327) and $(522,574), respectively. |