EX-12 2 h77478exv12.htm EX-12 exv12
Exhibit 12
HCC Insurance Holdings, Inc. and Subsidiaries
Statement of Ratio of Earnings to Fixed Charges
(unaudited, in thousands)
                                 
    Nine months ended September 30,     Three months ended September 30,  
    2010     2009     2010     2009  
Interest factor of rent expense (1)
   $ 4,045     $ 3,982     $ 1,381     $ 1,341  
Interest expense
     15,907       11,816       5,280       3,549  
Capitalized interest
     —       51       —       —  
 
                        
 
                                
Total fixed charges
   $ 19,952     $ 15,849     $ 6,661     $ 4,890  
 
                        
 
                                
Earnings before income tax expense
   $ 354,790     $ 393,048     $ 132,012     $ 137,041  
Interest factor of rent expense (1)
     4,045       3,982       1,381       1,341  
Interest expense
     15,907       11,816       5,280       3,549  
 
                        
 
                                
Earnings per calculation
   $ 374,742     $ 408,846     $ 138,673     $ 141,931  
 
                        
 
                                
Ratio of earnings to fixed charges (2)
     18.78       25.80       20.82       29.02  
 
                        
 
(1)   Estimated to be 33% of total rent expense.
 
(2)   Earnings per calculation divided by total fixed charges.