Exhibit 12.1
Ambac Financial Group, Inc.
Ratio of Earnings to Fixed Charges
(In thousands, except ratios)
Successor | Predecessor | |||||||||||||||||||||||
Eight Months Ended December 31, 2013 | Four Months Ended April 30, 2013 | Years Ended December 31, | ||||||||||||||||||||||
2012 | 2011 | 2010 | 2009 | |||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Pre-tax income from continuing operations | $ | 512,316 | $ | 3,348,033 | ($ | 256,505 | ) | ($ | 1,882,949 | ) | ($ | 753,001 | ) | $ | 724,905 | |||||||||
Interest expense | 83,595 | 29,718 | 105,973 | 119,997 | 164,485 | 119,626 | ||||||||||||||||||
Portion of rentals deemed to be interest | 1,141 | 624 | 1,751 | 2,327 | 3,324 | 3,366 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Earnings | $ | 597,052 | $ | 3,378,375 | ($ | 148,781 | ) | ($ | 1,760,625 | ) | ($ | 585,192 | ) | $ | 847,897 | |||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest Expense | $ | 83,595 | $ | 29,718 | $ | 105,973 | $ | 119,997 | $ | 164,485 | $ | 119,626 | ||||||||||||
Portion of rentals deemed to be interest | 1,141 | 624 | 1,751 | 2,327 | 3,324 | 3,366 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Fixed Charges | $ | 84,736 | $ | 30,342 | $ | 107,724 | $ | 122,324 | $ | 167,809 | $ | 122,992 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Ratio of earnings to fixed charges | 7.1 | 111.3 | -1.4 | -14.4 | -3.5 | 6.9 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|