EX-12.1 2 unhex1216302014.htm EXHIBIT 12.1 UNH EX 12.1 6.30.2014


EXHIBIT 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(dollars in millions)
 
2014
 
2013
 
2014
 
2013
Earnings before income taxes
 
$
2,397

 
$
2,225

 
$
4,291

 
$
4,186

Fixed charges
 
188

 
209

 
380

 
418

Total earnings available for fixed charges
 
$
2,585

 
$
2,434

 
$
4,671

 
$
4,604

 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
Interest expense
 
$
155

 
$
176

 
$
315

 
$
354

Interest component of rental payments
 
33

 
33

 
65

 
64

Total fixed charges
 
$
188

 
$
209

 
$
380

 
$
418

Ratio of earnings to fixed charges
 
13.8

 
11.6

 
12.3

 
11.0

The ratio of earnings to fixed charges is computed by dividing total earnings available for fixed charges by the fixed charges. For purposes of computing this ratio, fixed charges consist of interest expense plus the interest factor in rental expense.