EXHIBIT 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In millions, except ratios)
For the Years Ended December 31, | ||||||||||||||||||||||||
| For the Nine Months Ended September 30, 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||
| Earnings: | ||||||||||||||||||||||||
| Income before income taxes | $ | 1,239.9 | $ | 1,810.0 | $ | 1,660.9 | $ | 1,659.6 | $ | 1,549.0 | $ | 1,350.4 | ||||||||||||
| Add: Dividends from affiliates | 9.1 | 12.6 | 17.2 | 13.4 | 19.4 | 26.3 | ||||||||||||||||||
| Fixed charges | 224.3 | 307.1 | 331.3 | 318.3 | 294.9 | 269.0 | ||||||||||||||||||
| Total earnings | $ | 1,473.3 | $ | 2,129.7 | $ | 2,009.4 | $ | 1,991.3 | $ | 1,863.3 | $ | 1,645.7 | ||||||||||||
| Fixed charges: | ||||||||||||||||||||||||
| Interest expense (a) | $ | 134.0 | $ | 177.2 | $ | 197.2 | $ | 179.7 | $ | 158.1 | $ | 134.7 | ||||||||||||
| Rent expense interest factor (b) | 90.3 | 129.9 | 134.1 | 138.6 | 136.8 | 134.3 | ||||||||||||||||||
| Total fixed charges | $ | 224.3 | $ | 307.1 | $ | 331.3 | $ | 318.3 | $ | 294.9 | $ | 269.0 | ||||||||||||
| Ratio of earnings to fixed charges | 6.57 | x | 6.93 | x | 6.07 | x | 6.26 | x | 6.32 | x | 6.12 | x | ||||||||||||
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| (a) | Interest expense includes interest on third-party indebtedness. |
| (b) | The rent expense interest factor reflects an appropriate portion (one-third) of rent expense representative of interest. |
