EX-12 13 exh12_01.txt THE HARTFORD FINANCIAL SERVICES GROUP
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) 2002 2001 2000 1999 1998 --------------------------------------------------------------------------------------------------------------------------------- EARNINGS $ 1,068 $ 341 $ 1,418 $ 1,235 $ 1,475 ADD: FIXED CHARGES Interest expense 265 295 250 219 216 Interest factor attributable to rentals 73 72 67 61 54 Interest credited to contractholders 1,288 1,260 1,124 1,197 1,475 --------------------------------------------------------------------------------------------------------------------------------- TOTAL FIXED CHARGES 1,626 1,627 1,441 1,477 1,745 --------------------------------------------------------------------------------------------------------------------------------- TOTAL FIXED CHARGES EXCLUDING INTEREST CREDITED TO CONTRACTHOLDERS 338 367 317 280 270 --------------------------------------------------------------------------------------------------------------------------------- EARNINGS, AS DEFINED 2,694 1,968 2,859 2,712 3,220 --------------------------------------------------------------------------------------------------------------------------------- EARNINGS, AS DEFINED, EXCLUDING INTEREST CREDITED TO CONTRACTHOLDERS $ 1,406 $ 708 $ 1,735 $ 1,515 $ 1,745 --------------------------------------------------------------------------------------------------------------------------------- RATIOS Earnings, as defined, to total fixed charges [2] 1.7 1.2 2.0 1.8 1.8 --------------------------------------------------------------------------------------------------------------------------------- Earnings, as defined, excluding interest credited to contractholders, to total fixed charges excluding interest credited to contractholders [3] [4] 4.2 1.9 5.5 5.4 6.5 --------------------------------------------------------------------------------------------------------------------------------- [1] The Company had no dividends on preferred stock for the years 1998 to 2002. [2] Excluding the impact of September 11 of $678, the 2001 ratio of earnings to fixed charges was 1.6. [3] Excluding the impact of September 11 of $678, the 2001 ratio of earnings to fixed charges excluding interest credited to contractholders was 3.8. [4] This secondary ratio is disclosed for the convenience of fixed income investors and the rating agencies that serve them and is more comparable to the ratios disclosed by all issuers of fixed income securities.