EX-12.1 4 exhibit121q12017.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

 
 
Three Months Ended March 31
 
Years Ended December 31,
(millions except ratio)
 
2017
 
2016
 
2016
 
2015
 
2014
 
2013
Income from continuing operations before income taxes and noncontrolling interests (1)
 
$
265

 
$
371

 
$
1,401

 
$
1,428

 
$
1,559

 
$
1,347

Less: Equity in earnings on less than 50% owned entities
 
6

 
2

 
13

 
13

 
12

 
20

Add back fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
     Interest on indebtedness
 
70

 
69

 
282

 
273

 
255

 
210

     Interest on uncertain tax positions
 
—

 
—

 
—

 
—

 
4

 
5

     Portion of rents representative of interest factor
 
8

 
9

 
28

 
33

 
40

 
40

          Income as adjusted
 
$
337

 
$
447

 
$
1,698

 
$
1,721

 
$
1,846

 
$
1,582

Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
     Interest on indebtedness
 
$
70

 
$
69

 
$
282

 
$
273

 
$
255

 
$
210

     Interest on uncertain tax positions
 
—

 
—

 
—

 
—

 
4

 
5

     Portion of rents representative of interest factor
 
8

 
9

 
28

 
33

 
40

 
40

          Total fixed charges
 
$
78

 
$
78

 
$
310

 
$
306

 
$
299

 
$
255

Ratio of earnings to fixed charges
 
4.3

 
5.7

 
5.5

 
5.6

 
6.2


6.2