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