EX-12.1 3 a10-12609_1ex12d1.htm EX-12.1

Exhibit 12.1

 

Aon Corporation and Consolidated Subsidiaries

Combined With Unconsolidated Subsidiaries

Computation of Ratio of Earnings to Fixed Charges

 

 

 

Six Months Ended

 

 

 

 

 

June 30,

 

Years Ended December 31,

 

(millions except ratios)

 

2010

 

2009

 

2009

 

2008

 

2007

 

2006

 

2005

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before provision for income taxes and noncontrolling interests

 

$

491

 

$

553

 

$

949

 

$

879

 

$

1,023

 

$

738

 

$

567

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less: Equity in earnings of less than 50% owned entities

 

8

 

2

 

11

 

5

 

6

 

5

 

7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Add back fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on indebtedness

 

67

 

55

 

122

 

126

 

138

 

129

 

125

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on uncertain tax positions

 

(2

)

 

2

 

 

2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Portion of rents representative of interest factor

 

21

 

20

 

48

 

47

 

75

 

79

 

71

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income as adjusted

 

$

569

 

$

626

 

$

1,110

 

$

1,047

 

$

1,232

 

$

941

 

$

756

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on indebtedness

 

$

67

 

$

55

 

$

122

 

$

126

 

$

138

 

$

129

 

$

125

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on uncertain tax positions

 

(2

)

 

2

 

 

2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Portion of rents representative of interest factor

 

21

 

20

 

48

 

47

 

75

 

79

 

71

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges

 

$

86

 

$

75

 

$

172

 

$

173

 

$

215

 

$

208

 

$

196

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

6.6

 

8.3

 

6.5

 

6.1

 

5.7

 

4.5

 

3.9

 

 

1