Exhibit 12(a)
Aon Corporation and Consolidated Subsidiaries
Combined With Unconsolidated Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
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| Three Months Ended |
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| Mar. 31, |
| Years Ended December 31, |
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(millions except ratios) |
| 2006 |
| 2005 |
| 2005 |
| 2004 |
| 2003 |
| 2002 |
| 2001 |
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Income from continuing operations before provision for income taxes and minority interest |
| $ | 304 |
| $ | 310 |
| $ | 965 |
| $ | 827 |
| $ | 1,074 |
| $ | 787 |
| $ | 306 |
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Less: Earnings from unconsolidated entities under the equity method of accounting |
| (1 | ) | 1 |
| 7 |
| 34 |
| 49 |
| 19 |
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Add back fixed charges: |
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Interest on indebtedness (1) |
| 31 |
| 34 |
| 125 |
| 136 |
| 101 |
| 124 |
| 127 |
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Interest credited on deposit-type insurance contracts |
| — |
| — |
| — |
| 1 |
| — |
| 29 |
| 56 |
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Portion of rents representative of interest factor |
| 18 |
| 18 |
| 71 |
| 73 |
| 67 |
| 59 |
| 57 |
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Income as adjusted |
| $ | 354 |
| $ | 361 |
| $ | 1,154 |
| $ | 1,003 |
| $ | 1,193 |
| $ | 980 |
| $ | 685 |
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Fixed charges: |
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Interest on indebtedness(1) |
| $ | 31 |
| $ | 34 |
| $ | 125 |
| $ | 136 |
| $ | 101 |
| $ | 124 |
| $ | 127 |
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Interest credited on deposit-type insurance contracts |
| — |
| — |
| — |
| 1 |
| — |
| 29 |
| 56 |
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Portion of rents representative of interest factor |
| 18 |
| 18 |
| 71 |
| 73 |
| 67 |
| 59 |
| 57 |
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Total fixed charges |
| $ | 49 |
| $ | 52 |
| $ | 196 |
| $ | 210 |
| $ | 168 |
| $ | 212 |
| $ | 240 |
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Ratio of earnings to fixed charges |
| 7.2 |
| 6.9 |
| 5.9 |
| 4.8 |
| 7.1 |
| 4.6 |
| 2.9 |
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(1) As a result of the adoption of FIN 46 on December 31, 2003, Aon was required to deconsolidate its 8.205% mandatorily redeemable preferred capital securities. This decrease was offset by an increase in notes payable. Beginning in 2004, interest expense ($14 million for both the three months ended March 31, 2006 and 2005 and $58 million for the years ended December 31, 2005 and 2004) on these notes payable is reported as part of interest expense on the condensed consolidated statements of income.