EX-12.1 6 exhibit12_1.htm EXHIBIT 12.1 AET 03.31.2015 Exhibit 12.1


Exhibit 12.1

Computation of Ratios

The computation of the ratio of earnings to fixed charges for the three months ended March 31, 2015 and the years ended December 31, 2014, 2013, 2012, 2011 and 2010 are as follows:

Three Months Ended
 
Years Ended December 31,
(Millions)
March 31, 2015

2014

2013

2012

2011

2010

Income from continuing operations before income taxes
$
1,365.6

$
3,496.6

$
2,936.9

$
2,545.4

$
3,077.8

$
2,644.2

Add back fixed charges
93.7

391.4

393.2

318.6

293.6

307.7

Income as adjusted ("earnings")
$
1,459.3

$
3,888.0

$
3,330.1

$
2,864.0

$
3,371.4

$
2,951.9

 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
Interest expense
$
79.0

$
329.3

$
333.7

$
268.8

$
246.9

$
254.6

Portion of rents representative of interest factor
14.7

62.1

59.5

49.8

46.7

53.1

Total fixed charges
$
93.7

$
391.4

$
393.2

$
318.6

$
293.6

$
307.7

Ratio of earnings to fixed charges
15.57

9.93

8.47

8.99

11.48

9.59