EX-12 3 l28465aexv12.htm EX-12 EX-12
 

Exhibit 12
THE PROGRESSIVE CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(millions)
(unaudited)
                 
    Nine Months Ended  
    September 30,  
    2007     2006  
Income before income taxes
   $ 1,362.2     $ 1,842.5  
 
            
Fixed Charges:
                
Interest and amortization on indebtedness
     75.5       60.5  
Portion of rents representative of the interest factor
     18.4       17.2  
 
            
Total fixed charges
     93.9       77.7  
 
            
Interest capitalized, net of amortized interest
     (1.0 )     (1.6 )
 
            
Total income available for fixed charges
   $ 1,455.1     $ 1,918.6  
 
            
Ratio of earnings to fixed charges
     15.5       24.7