Exhibit 12.1
Aon plc and Consolidated Subsidiaries
Combined With Unconsolidated Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Six months ended June 30, | | Years Ended December 31, |
(millions except ratio) | | 2013 | | 2012 | | 2012 | | 2011 | | 2010 | | 2009 | | 2008 |
| | | | | | | | | | | | | | |
Income from continuing operations before income taxes and noncontrolling interests | | $ | 710 |
| | $ | 697 |
| | $ | 1,381 |
| | $ | 1,384 |
| | $ | 1,059 |
| | $ | 949 |
| | $ | 879 |
|
| | | | | | | | | | | | | | |
Less: Equity in earnings on less than 50% owned entities | | 6 |
| | 8 |
| | 13 |
| | 7 |
| | 10 |
| | 11 |
| | 5 |
|
| | | | | | | | | | | | | | |
Add back fixed charges: | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Interest on indebtedness | | 100 |
| | 116 |
| | 228 |
| | 245 |
| | 182 |
| | 122 |
| | 126 |
|
| | | | | | | | | | | | | | |
Interest on uncertain tax positions | | (1 | ) | | 2 |
| | 5 |
| | — |
| | (1 | ) | | 2 |
| | — |
|
| | | | | | | | | | | | | | |
Portion of rents representative of interest factor | | 23 |
| | 19 |
| | 42 |
| | 55 |
| | 48 |
| | 48 |
| | 47 |
|
| | | | | | | | | | | | | | |
Income as adjusted | | $ | 826 |
| | $ | 826 |
| | $ | 1,643 |
| | $ | 1,677 |
| | $ | 1,278 |
| | $ | 1,110 |
| | $ | 1,047 |
|
| | | | | | | | | | | | | | |
Fixed charges: | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Interest on indebtedness | | $ | 100 |
| | $ | 116 |
| | $ | 228 |
| | $ | 245 |
| | $ | 182 |
| | $ | 122 |
| | $ | 126 |
|
| | | | | | | | | | | | | | |
Interest on uncertain tax positions | | (1 | ) | | 2 |
| | 5 |
| | — |
| | (1 | ) | | 2 |
| | — |
|
| | | | | | | | | | | | | | |
Portion of rents representative of interest factor | | 23 |
| | 19 |
| | 42 |
| | 55 |
| | 48 |
| | 48 |
| | 47 |
|
| | | | | | | | | | | | | | |
Total fixed charges | | $ | 122 |
| | $ | 137 |
| | $ | 275 |
| | $ | 300 |
| | $ | 229 |
| | $ | 172 |
| | $ | 173 |
|
| | | | | | | | | | | | | | |
Ratio of earnings to fixed charges | | 6.8 |
| | 6.0 |
| | 6.0 |
| | 5.6 |
|
| 5.6 |
| | 6.5 |
| | 6.1 |
|