EX-12.1 2 exhibit121_2017.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1

EMPLOYERS HOLDINGS, INC.
Computation of Ratio of Earnings to Fixed Charges
($ in millions)

 
 
Years Ended December 31,
 
 
2017
 
2016
 
2015
 
2014
 
2013
Net Income before income taxes
 
$
144.0

 
$
140.7

 
$
99.4

 
$
106.6

 
$
53.1

 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
Assumed interest on capital assets (1)
 
$
1.7

 
$
1.7

 
$
1.8

 
$
2.8

 
$
3.1

Interest on indebtedness
 
1.4

 
1.6

 
2.7

 
3.0

 
3.2

Total fixed charges
 
$
3.1

 
$
3.3

 
$
4.5

 
$
5.8

 
$
6.3

 
 
 
 
 
 
 
 
 
 
 
Net income before income taxes plus fixed charges
 
$
147.1

 
$
144.0

 
$
103.9

 
$
112.4

 
$
59.4

 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
47.5

 
43.6

 
23.1

 
19.4

 
9.4

(1)
Interest component of rental expense is estimated to equal 1/3 of such expense, which is considered a reasonable approximation of the interest factor.