EX-12 5 mtg-123117xex12.htm EXHIBIT 12

Exhibit

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