EX-12 5 mtg-123116xex12.htm EXHIBIT 12 Exhibit

Exhibit 12


MGIC INVESTMENT CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In thousands, except ratio)
 
Year Ended December 31, 2016
 
 
 
Net earnings before taxes
 
$
514,714

 
 
 
Fixed Charges:
 
 
Interest expense
 
53,585

Amortization of debt expense
 
3,087

Rent expense (One-Fourth of all rentals, reasonable approximation of the interest factor)
 
532

Total fixed charges
 
57,204

 
 
 
Net earnings and fixed charges
 
$
571,918

 
 
 
Ratio of Earnings to Fixed Charges
 
10.0