EX-12 2 exhibit12q1_2017.htm EXHIBIT 12
MGIC INVESTMENT CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In thousands, except ratio) |  | Three Months Ended March 31, 2017
Net earnings before taxes |  | $ | 173,957 |
Fixed Charges: |  |
Interest expense |  | 17,855 |
Amortization of debt expense |  | 698 |
Rent expense (One-Fourth of all rentals, reasonable approximation of the interest factor) |  | 145 |
Total fixed charges |  | 18,698 |
Net earnings and fixed charges |  | $ | 192,655 |
Ratio of Earnings to Fixed Charges |  | 10.3 |