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Aon Corporation and Consolidated Subsidiaries
Combined With Unconsolidated Subsidiaries
Computation of Ratio of Earnings to Combined Fixed Charges
and Preferred Stock Dividends
| Years Ended December 31, | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
(millions except ratios) | 2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||||
Income from continuing operations before provision for income taxes | $ | 863 | $ | 1,012 | $ | 728 | $ | 555 | $ | 509 | ||||||||
Less: Earnings from unconsolidated entities under the equity method of accounting | 5 | 6 | 5 | 7 | 3 | |||||||||||||
Add back fixed charges: | ||||||||||||||||||
Interest on indebtedness | 126 | 138 | 129 | 125 | 136 | |||||||||||||
Interest on FIN 48 liabilities | — | (2 | ) | — | — | — | ||||||||||||
Portion of rents representative of interest factor | 47 | 75 | 79 | 71 | 73 | |||||||||||||
Income as adjusted | $ | 1,031 | $ | 1,217 | $ | 931 | $ | 744 | $ | 715 | ||||||||
Fixed charges and preferred stock dividends: | ||||||||||||||||||
Interest on indebtedness | $ | 126 | $ | 138 | $ | 129 | $ | 125 | $ | 136 | ||||||||
Preferred stock dividends | — | — | — | 3 | 3 | |||||||||||||
Interest and dividends | 126 | 138 | 129 | 128 | 139 | |||||||||||||
Portion of rents representative of interest factor | 47 | 75 | 79 | 71 | 73 | |||||||||||||
Total fixed charges and preferred stock dividends | $ | 173 | $ | 213 | $ | 208 | $ | 199 | $ | 212 | ||||||||
Ratio of earnings to combined fixed charges and preferred stock dividends | 6.0 | 5.7 | 4.5 | 3.7 | 3.4 | |||||||||||||
Aon Corporation and Consolidated Subsidiaries Combined With Unconsolidated Subsidiaries Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends