National General Holdings Corp. - FORM 10-Q - EX-12.1 - EXHIBIT 12.1 - May 9, 2017

Attached files

file	filename
EX-32.2 - EXHIBIT 32.2 - National General Holdings Corp.	nghc3312017ex322.htm
EX-32.1 - EXHIBIT 32.1 - National General Holdings Corp.	nghc3312017ex321.htm
EX-31.2 - EXHIBIT 31.2 - National General Holdings Corp.	nghc3312017ex312.htm
EX-31.1 - EXHIBIT 31.1 - National General Holdings Corp.	nghc3312017ex311.htm
10-Q - 10-Q - National General Holdings Corp.	nghc20171q10-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
		2017				2016				2015				2014				2013				2012
Earnings
Pretax income from continuing operations before adjustment for income or loss from equity investees		$	44,430			$	210,099			$	164,590			$	127,443			$	52,257			$	46,353
Fixed charges		11,545				40,180				28,885				17,736				2,042				1,787
		$	55,975			$	250,279			$	193,475			$	145,179			$	54,299			$	48,140
Less:
Interest capitalized		$	—			$	—			$	—			$	—			$	—			$	—
Non-controlling interest in pre-tax income (loss) of subsidiaries that have not incurred fixed charges		30				113				132				(2		)		82				—
		30				113				132				(2		)		82				—
Total Earnings		$	55,945			$	250,166			$	193,343			$	145,181			$	54,217			$	48,140

Fixed Charges:
Interest expensed and capitalized, and amortized premiums, discounts and capitalized expenses related to indebtedness		11,545				40,180				28,885				17,736				2,042				1,787
Expense of the interest within rental expense⁽¹⁾		—				—				—				—				—				—
Total Fixed Charges		$	11,545			$	40,180			$	28,885			$	17,736			$	2,042			$	1,787
Ratio of Earnings to Fixed Charges		4.85				6.23				6.69				8.19				26.55				26.94

⁽¹⁾ Deemed to be immaterial