EX-12.1 8 mmc-12312013ex121.htm STATEMENT RE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES MMC-12.31.2013 Ex12.1



Exhibit 12.1


Marsh & McLennan Companies, Inc. and Subsidiaries
Ratio of Earnings to Fixed Charges
(In millions, except ratios)
 
 
 
Years Ended December 31,
 
2013

 
2012
 
2011
 
2010
 
2009
 
Earnings
 
 
 
 
 
 
 
 
 
 
Income before income taxes
$
1,973

 
$
1,696

 
$
1,404

 
$
769

 
$
552

 
Interest expense
167

 
181

 
199

 
233

 
241

 
Portion of rents representative of the interest factor
134

 
139

 
143

 
140

 
132

 
 
$
2,274

 
$
2,016

 
$
1,746

 
$
1,142

 
$
925

 
Fixed Charges
 
 
 
 
 
 
 
 
 
 
Interest expense
$
167

 
$
181

 
$
199

 
$
233

 
$
241

 
Portion of rents representative of the interest factor
134

 
139

 
143

 
140

 
132

 
 
$
301

 
$
320

 
$
342

 
$
373

 
$
373

 
Ratio of Earnings to Fixed Charges
7.6

 
6.3

 
5.1

 
3.1

 
2.5