EX-12.1 2 a15-7890_1ex12d1.htm EX-12.1

Exhibit 12.1

 

THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

 

 

Three Months Ended
 March 31,

 

(in millions, except ratios)

 

2015

 

2014

 

 

 

 

 

 

 

Income before income taxes

 

$

1,148

 

$

1,470

 

Interest

 

92

 

92

 

Portion of rentals deemed to be interest

 

16

 

17

 

 

 

 

 

 

 

Income available for fixed charges

 

$

1,256

 

$

1,579

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

Interest

 

$

92

 

$

92

 

Portion of rentals deemed to be interest

 

16

 

17

 

 

 

 

 

 

 

Total fixed charges

 

$

108

 

$

109

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

11.59

 

14.54

 

 

The ratio of earnings to fixed charges is computed by dividing income available for fixed charges by the fixed charges. For purposes of this ratio, fixed charges consist of that portion of rentals deemed representative of the appropriate interest factor.