Attached files
| file | filename |
|---|---|
| EX-32 - EXHIBIT 32 - XL GROUP LTD | xlgroup-03312017xex_32.htm |
| EX-31 - EXHIBIT 31 - XL GROUP LTD | xlgroup-03312017xex_31.htm |
| EX-10.1 - EXHIBIT 10.1 - XL GROUP LTD | exhibit101-formofletterofa.htm |
| 10-Q - 10-Q - XL GROUP LTD | xlgroup-10qx03312017.htm |
Exhibit 12
XL GROUP LTD
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERENCE DIVIDENDS
Three Months Ended | |||||||
(U.S. dollars in thousands, except ratios) | 2017 | 2016 | |||||
Earnings: | |||||||
Pre-tax income (loss) from continuing operations | $ | 175,071 | $ | 97,252 | |||
Fixed charges | 113,402 | 114,541 | |||||
Distributed income of equity investees | 46,935 | 40,622 | |||||
Subtotal | $ | 335,408 | $ | 252,415 | |||
Less: Non-controlling interests | 3,036 | 3,679 | |||||
Less: Preference share dividends | 57,970 | 57,464 | |||||
Total earnings (loss) | $ | 274,402 | $ | 191,272 | |||
Fixed charges: | |||||||
Interest costs | $ | 40,250 | $ | 41,613 | |||
Accretion of deposit liabilities | 10,461 | 10,690 | |||||
Rental expense at 30% (1) | 4,721 | 4,774 | |||||
Total fixed charges | $ | 55,432 | $ | 57,077 | |||
Preference share dividends | 57,970 | 57,464 | |||||
Total fixed charges and preference dividends | $ | 113,402 | $ | 114,541 | |||
Ratio of earnings to fixed charges | 5.0 | 3.4 | |||||
Ratio of earnings to combined fixed charges and preference dividends | 2.4 | 1.7 | |||||
Deficiency - fixed charges only | N/A | N/A | |||||
Deficiency - fixed charges and preference dividends | N/A | N/A | |||||
_______________
(1) | 30% represents a reasonable approximation of the interest factor. |