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Previous: MGIC INVESTMENT CORP, S-3, EX-5, 2000-06-22 |
Next: MGIC INVESTMENT CORP, S-3, EX-23.1, 2000-06-22 |
<TABLE>
<CAPTION>
MGIC INVESTMENT CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(AMOUNTS IN THOUSANDS OF DOLLARS)
Year ended December 31,
Three months ended ----------------------------------------------------------------------
March 31, 2000 1999 1998 1997 1996 1995
------------------ --------- --------- --------- --------- ---------
<S> <C> <C> <C> <C> <C> <C>
Income before taxes 184,929 681,010 554,585 465,373 365,028 291,409
Adjustment to income before
taxes, less income or loss
from equity investees, net (5,802) (12,700) (12,420) (7,100) 800 -
------------------ --------- --------- --------- --------- ---------
Earnings before income taxes 179,127 668,310 542,165 458,273 365,828 291,409
Fixed charges:
Interest expense 6,621 20,402 18,624 6,399 3,793 3,821
Amortization of debt expense 27 93 53 - - -
Rent expense (1/3) (reasonable
approximation of the interest
factor) 798 3,210 3,403 3,451 3,079 2,910
------------------ --------- --------- --------- --------- ---------
Total fixed charges 7,446 23,705 22,080 9,850 6,872 6,731
Earnings before income taxes
and fixed charges 186,573 692,015 564,245 468,123 372,700 298,140
Ratio of earnings to fixed
charges 25.1 29.2 25.6 47.5 54.2 44.3
</TABLE>
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