Exhibit 12.1
Aon plc and Consolidated Subsidiaries
Combined With Unconsolidated Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
Nine Months Ended September 30 | Years Ended December 31 | |||||||||||||||||||||||
(millions except ratio) | 2018 | 2017 | 2017 | 2016 | 2015 | 2014 | ||||||||||||||||||
Income from continuing operations before income taxes and noncontrolling interests | $ | 825 | $ | 279 | $ | 685 | $ | 1,401 | $ | 1,428 | $ | 1,559 | ||||||||||||
Less: Equity in earnings on less than 50% owned entities | 3 | 11 | 12 | 13 | 13 | 12 | ||||||||||||||||||
Add back fixed charges: | ||||||||||||||||||||||||
Interest on indebtedness | 208 | 211 | 282 | 282 | 273 | 255 | ||||||||||||||||||
Interest on uncertain tax positions | — | — | — | — | — | 4 | ||||||||||||||||||
Portion of rents representative of interest factor | 31 | 24 | 33 | 28 | 33 | 40 | ||||||||||||||||||
Income as adjusted | $ | 1,061 | $ | 503 | $ | 988 | $ | 1,698 | $ | 1,721 | $ | 1,846 | ||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest on indebtedness | $ | 208 | $ | 211 | $ | 282 | $ | 282 | $ | 273 | $ | 255 | ||||||||||||
Interest on uncertain tax positions | — | — | — | — | — | 4 | ||||||||||||||||||
Portion of rents representative of interest factor | 31 | 24 | 33 | 28 | 33 | 40 | ||||||||||||||||||
Total fixed charges | $ | 239 | $ | 235 | $ | 315 | $ | 310 | $ | 306 | $ | 299 | ||||||||||||
Ratio of earnings to fixed charges | 4.4 | 2.1 | 3.1 | 5.5 | 5.6 | 6.2 |