EX-12.1 2 exhibit1212013.htm EXHIBIT 12.1 Exhibit 12.1 2013


Exhibit 12.1
Aon plc and Consolidated Subsidiaries
Combined With Unconsolidated Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
 
 
Years Ended December 31,
(millions except ratio)
 
2013
 
2012
 
2011
 
2010
 
2009
Income from continuing operations before income taxes and noncontrolling interests (1)
 
$
1,538

 
$
1,380

 
$
1,388

 
$
1,059

 
$
949

Less: Equity in earnings on less than 50% owned entities
 
20

 
13

 
7

 
10

 
11

Add back fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest on indebtedness
 
210

 
228

 
245

 
182

 
122

Interest on uncertain tax positions
 
5

 
5

 

 
(1
)
 
2

Portion of rents representative of interest factor
 
52

 
42

 
55

 
48

 
48

Income as adjusted
 
$
1,785

 
$
1,642

 
$
1,681

 
$
1,278

 
$
1,110

Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest on indebtedness
 
$
210

 
$
228

 
$
245

 
$
182

 
$
122

Interest on uncertain tax positions
 
5

 
5

 

 
(1
)
 
2

Portion of rents representative of interest factor
 
52

 
42

 
55

 
48

 
48

Total fixed charges
 
$
267

 
$
275

 
$
300

 
$
229

 
$
172

Ratio of earnings to fixed charges
 
6.7

 
6.0

 
5.6

 
5.6

 
6.5


(1) For the years ended December 31, 2012, and 2011 amounts related to discontinued operations have been included in Other income to conform to amounts included in the Consolidated Financial Statements. These amounts in the years ended December 31, 2012 and 2011, which were historically included in Income (loss) from discontinued operations, have been reclassified to conform with current presentation. The amounts reclassified were $1 million loss and $4 million income for the years ended December 31, 2012 and 2011, respectively, from Income (loss) from discontinued operations to Other income. For the years ended December 31, 2010 and 2009, amounts related to discontinued operations remain in Income (loss) from discontinued operations as they are more meaningful to the presentation of continuing operations in those years.