EX-12 3 exhibit12q3_2018.htm EXHIBIT 12
Exhibit 12
MGIC INVESTMENT CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

| (In thousands, except ratio) |  | Nine Months Ended September 30, 2018 |  | Nine Months Ended September 30, 2017
| Net earnings before taxes |  | $ | 649,441 |  |  | $ | 539,040 |
| Fixed Charges: |  |  |  |
| Interest expense |  | 38,443 |  |  | 42,143 |
| Amortization of debt expense |  | 1,294 |  |  | 1,636 |
| Rent expense (One-Fourth of all rentals, reasonable approximation of the interest factor) |  | 377 |  |  | 386 |
| Total fixed charges |  | 40,114 |  |  | 44,165 |
| Net earnings and fixed charges |  | $ | 689,555 |  |  | $ | 583,205 |
| Ratio of Earnings to Fixed Charges |  | 17.2 |  |  | 13.2 |