Annual Report — Form 10-K
Filing Table of Contents
Document/Exhibit Description Pages Size
1: 10-K Annual Report 27 132K
2: EX-10.10 First Amendment to Sale and Purchase Agreement 60 227K
3: EX-12.1 Computation of Ratios 1 6K
4: EX-13.1 Annual Report 108± 450K
5: EX-21.1 Primary Subsidiaries of Cnaf 2 7K
6: EX-23.1 Independent Auditors' Consent 1 6K
EX-12.1 — Computation of Ratios
EXHIBIT 12.1 CNA FINANCIAL CORPORATION COMPUTATION OF RATIO OF EARNINGS TO
FIXED CHARGES
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Years ended December 31, 2000 1999 1998 1997 1996
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(In millions, except ratios)
Income (loss) before income tax, net of minority interest $ 1,782 $ (41) $ 329 $ 1,358 $ 1,345
Adjustments:
Interest expense 206 202 219 198 200
Interest element of operating lease rental 32 35 47 34 32
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Earnings before fixed charges $ 2,020 $ 196 $ 595 $ 1,590 $ 1,577
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Fixed charges:
Interest expense $ 206 $ 202 $ 219 $ 198 $ 200
Interest element of operating lease rental 32 35 47 34 32
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Total fixed charges $ 238 $ 237 $ 266 $ 232 $ 232
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Ratio of earnings to fixed charges (1) 8.5 0.8 2.2 6.8 6.8
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(1) For purposes of computing this ratio, earnings consist of income before
income taxes plus fixed charges of consolidated companies. Fixed charges
consist of interest and that portion of operating lease rental expense
which is deemed to be an interest factor for such rentals.
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