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Previous: TRAVELERS PROPERTY CASUALTY CORP, 10-Q, EX-3.01, 2000-08-11 |
Next: TRAVELERS PROPERTY CASUALTY CORP, 10-Q, EX-27, 2000-08-11 |
<PAGE> 1
Exhibit 12.01
Travelers Property Casualty Corp. and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
(In millions of dollars, except for ratio)
<TABLE>
<CAPTION>
Three Months Ended Six Months Ended
June 30, June 30,
2000 1999 2000 1999
------ ------ ------ ------
<S> <C> <C> <C> <C>
Income before federal income taxes and cumulative
effect of changes in accounting principles $ 498 $ 480 $ 942 $ 931
Interest 33 40 67 80
Portion of rentals deemed to be interest 9 12 21 23
------ ------ ------ ------
Earnings available for fixed charges $ 540 $ 532 $1,030 $1,034
====== ====== ====== ======
Fixed charges:
Interest $ 33 $ 40 $ 67 $ 80
Portion of rentals deemed to be interest 9 12 21 23
------ ------ ------ ------
Total fixed charges $ 42 $ 52 $ 88 $ 103
====== ====== ====== ======
Ratio of earnings to fixed charges 12.86x 10.23x 11.70x 10.04x
====== ====== ====== ======
</TABLE>
The ratio of earnings to fixed charges is computed by dividing income before
federal income taxes and cumulative effect of changes in accounting principles
and fixed charges by the fixed charges. For purposes of this ratio, fixed
charges consist of that portion of rentals deemed representative of the
appropriate interest factor.
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