Aon (AON) 10-Q 2018 Q3 Quarterly report

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