EX-12 3 h74956exv12.htm EX-12 exv12
Exhibit 12
HCC Insurance Holdings, Inc. and Subsidiaries
Statement of Ratio of Earnings to Fixed Charges
(unaudited, in thousands)
                                 
    Six months ended June 30,     Three months ended June 30,  
    2010     2009     2010     2009  
Interest factor of rent expense (1)
   $ 2,664     $ 2,641     $ 1,296     $ 1,377  
Interest expense
     10,627       8,267       5,237       3,628  
Capitalized interest
     —       51       —       —  
 
                        
 
                                
Total fixed charges
   $ 13,291     $ 10,959     $ 6,533     $ 5,005  
 
                        
 
Earnings before income tax expense
   $ 222,778     $ 256,007     $ 119,753     $ 133,164  
Interest factor of rent expense (1)
     2,664       2,641       1,296       1,377  
Interest expense
     10,627       8,267       5,237       3,628  
 
                        
 
                                
Earnings per calculation
   $ 236,069     $ 266,915     $ 126,286     $ 138,169  
 
                        
 
                                
Ratio of earnings to fixed charges (2)
     17.76       24.36       19.33       27.61  
 
                        
 
(1)   Estimated to be 33% of total rent expense.
 
(2)   Earnings per calculation divided by total fixed charges.