EX-12 5 mtg-123117xex12.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, 2017
Net earnings before taxes |  | $ | 784,496 |
Fixed Charges: |  |
Interest expense |  | 54,967 |
Amortization of debt expense |  | 2,068 |
Rent expense (One-Fourth of all rentals, reasonable approximation of the interest factor) |  | 501 |
Total fixed charges |  | 57,536 |
Net earnings and fixed charges |  | $ | 842,032 |
Ratio of Earnings to Fixed Charges |  | 14.6 |