EX-12.1 6 a121computationofratioearn.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1
Aon plc 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 ratio)
 
2016
 
2015
 
2015
 
2014
 
2013
 
2012
Income from continuing operations before income taxes and noncontrolling interests (1)
 
$
736

 
$
635

 
$
1,689

 
$
1,765

 
$
1,538

 
$
1,380

Less: Equity in earnings on less than 50% owned entities
 
3

 
6

 
13

 
12

 
20

 
13

Add back fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
     Interest on indebtedness
 
142

 
133

 
273

 
255

 
210

 
228

     Interest on uncertain tax positions
 

 
(2
)
 

 
4

 
5

 
5

     Portion of rents representative of interest factor
 
17

 
22

 
45

 
50

 
52

 
42

          Income as adjusted
 
$
892

 
$
782

 
$
1,994

 
$
2,062

 
$
1,785

 
$
1,642

Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
     Interest on indebtedness
 
$
142

 
$
133

 
$
273

 
$
255

 
$
210

 
$
228

     Interest on uncertain tax positions
 

 
(2
)
 

 
4

 
5

 
5

     Portion of rents representative of interest factor
 
17

 
22

 
45

 
50

 
52

 
42

          Total fixed charges
 
$
159

 
$
153

 
$
318

 
$
309

 
$
267

 
$
275

Ratio of earnings to fixed charges
 
5.6

 
5.1

 
6.3

 
6.7

 
6.7


6.0


(1) For the year ended December 31, 2012, amounts related to discontinued operations have been included in Other income to conform to amounts included in the Consolidated Financial Statements. This amount in the year ended December 31, 2012 , which was historically included in Income (loss) from discontinued operations, has been reclassified to conform with current presentation. The amount reclassified was a $1 million loss for the year ended December 31, 2012 , from Income (loss) from discontinued operations to Other income.