EX-12.1 2 dex121.htm STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES. Statement Regarding Computation of Ratio of Earnings to Fixed Charges.

Exhibit 12.1

STATEMENT REGARDING COMPUTATION

OF RATIO OF EARNINGS TO FIXED CHARGES

MANPOWER INC.

(in millions)

 

     3 Months Ended
March 31, 2008

Earnings:

  

Earnings before income taxes

   $ 120.7

Fixed charges

     49.0
      
   $ 169.7
      

Fixed charges:

  

Interest (expensed or capitalized)

   $ 15.8

Estimated interest portion of rent expense

     33.2
      
   $ 49.0
      

Ratio of earnings to fixed charges

     3.5
      

 

     Years Ended December 31,
     2007    2006    2005    2004    2003

Earnings:

              

Earnings before income taxes

   $ 791.2    $ 481.9    $ 387.0    $ 371.6    $ 223.3

Fixed charges

     185.2      162.8      153.2      153.0      124.4
                                  
   $ 976.4    $ 644.7    $ 540.2    $ 524.6    $ 347.7
                                  

Fixed charges:

              

Interest (expensed or capitalized)

   $ 65.0    $ 54.1    $ 46.7    $ 45.3    $ 41.2

Estimated interest portion of rent expense

     120.2      108.7      106.5      107.7      83.2
                                  
   $ 185.2    $ 162.8    $ 153.2    $ 153.0    $ 124.4
                                  

Ratio of earnings to fixed charges

     5.3      4.0      3.5      3.4      2.8
                                  

 

Note: The calculation of ratio of earnings to fixed charges set forth above is in accordance with Regulation S-K, Item 601(b)(12). This calculation is different than the fixed charge ratio that is required by our various borrowing facilities.