EX-12 11 exh12_01.txt EXHIBIT 12.01
EXHIBIT 12.01 THE HARTFORD FINANCIAL SERVICES GROUP, INC. COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS [1] (In millions) 2001 2000 1999 1998 1997 ----------------------------------------------------------------------------------------------------------------------------------- EARNINGS $ 354 $ 1,418 $ 1,235 $ 1,475 $ 1,703 ADD: FIXED CHARGES Interest expense 295 250 219 216 213 Interest factor attributable to rentals 72 67 61 54 48 ----------------------------------------------------------------------------------------------------------------------------------- TOTAL FIXED CHARGES 367 317 280 270 261 ----------------------------------------------------------------------------------------------------------------------------------- Interest credited to contractholders 1,260 1,124 1,197 1,475 1,180 ----------------------------------------------------------------------------------------------------------------------------------- TOTAL FIXED CHARGES INCLUDING INTEREST CREDITED TO CONTRACTHOLDERS 1,627 1,441 1,477 1,745 1,441 ----------------------------------------------------------------------------------------------------------------------------------- EARNINGS, AS DEFINED 721 1,735 1,515 1,745 1,964 ----------------------------------------------------------------------------------------------------------------------------------- EARNINGS, AS DEFINED INCLUDING INTEREST CREDITED TO CONTRACTHOLDERS $ 1,981 $ 2,859 $ 2,712 $ 3,220 $ 3,144 =================================================================================================================================== RATIOS Earnings, as defined, to total fixed charges [2] 2.0 5.5 5.4 6.5 7.5 ----------------------------------------------------------------------------------------------------------------------------------- Earnings, as defined, including interest credited to contractholders, to total fixed charges including interest credited to contractholders [3] 1.2 2.0 1.8 1.8 2.2 =================================================================================================================================== [1] The Company had no dividends on preferred stock for the years 1997 to 2001. [2] Excluding the impact of September 11 of $678, the 2001 ratio of earnings to fixed charges was 3.8. Excluding the equity gain on HLI initial public offering of $368, the 1997 ratio of earnings to fixed charges was 6.1. [3] Excluding the impact of September 11 of $678, the 2001 ratio of earnings to fixed charges including interest credited to contractholders was 1.6. Excluding the equity gain on HLI initial public offering of $368, the 1997 ratio of earnings to fixed charges including interest credited to contractholders was 1.9.