EX-12 2 exhibit12q2_2017.htm EXHIBIT 12

Exhibit

MGIC INVESTMENT CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In thousands, except ratio)		Six Months Ended June 30, 2017
Net earnings before taxes		$	354,573
Fixed Charges:
Interest expense		29,307
Amortization of debt expense		1,199
Rent expense (One-Fourth of all rentals, reasonable approximation of the interest factor)		263
Total fixed charges		30,769
Net earnings and fixed charges		$	385,342
Ratio of Earnings to Fixed Charges		12.5