EX-12.2 6 a09-11078_1ex12d2.htm EX-12.2

Exhibit 12.2

 

Aon Corporation and Consolidated Subsidiaries

Combined With Unconsolidated Subsidiaries

Computation of Ratio of Earnings to Combined Fixed Charges

and Preferred Stock Dividends

 

 

 

Three Months Ended

 

 

 

 

 

 

 

 

 

 

 

 

 

Mar. 31,

 

Years Ended December 31,

 

(millions except ratios)

 

2009

 

2008

 

2008

 

2007

 

2006

 

2005

 

2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before income taxes and non-controlling interest

 

$

343

 

$

258

 

$

879

 

$

1,025

 

$

738

 

$

567

 

$

519

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less: Earnings from unconsolidated entities under the equity method of accounting

 

 

 

5

 

6

 

5

 

7

 

3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Add back fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on indebtedness

 

29

 

33

 

126

 

138

 

129

 

125

 

136

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on FIN 48 liabilities

 

 

 

 

(2

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Portion of rents representative of interest factor

 

9

 

12

 

47

 

75

 

79

 

71

 

73

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income as adjusted

 

$

381

 

$

303

 

$

1,047

 

$

1,230

 

$

941

 

$

756

 

$

725

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges and preferred stock dividends:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on indebtedness

 

$

29

 

$

33

 

$

126

 

$

138

 

$

129

 

$

125

 

$

136

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Preferred stock dividends

 

 

 

 

 

 

3

 

3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest and dividends

 

29

 

33

 

126

 

138

 

129

 

128

 

139

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Portion of rents representative of interest factor

 

9

 

12

 

47

 

75

 

79

 

71

 

73

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges and preferred stock dividends

 

$

38

 

$

45

 

$

173

 

$

213

 

$

208

 

$

199

 

$

212

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to combined fixed charges and preferred stock dividends

 

10.0

 

6.7

 

6.1

 

5.8

 

4.5

 

3.8

 

3.4

 

 

1