Exhibit 12.1
STATEMENT REGARDING COMPUTATION
OF RATIO OF EARNINGS TO FIXED CHARGES
MANPOWERGROUP INC.
(in millions)
| 9 Months Ended | |||||
| Septenber 30, 2014 | |||||
| Earnings: | |||||
| Earnings before income taxes | $ | 499.6 | |||
| Fixed charges | 102.6 | ||||
| $ | 602.2 | ||||
| Fixed charges: | |||||
| Interest (expensed or capitalized) | $ | 27.9 | |||
| Estimated interest portion of rent expense | 74.7 | ||||
| $ | 102.6 | ||||
| Ratio of earnings to fixed charges | 5.9 | ||||
| 2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||
| Earnings: | ||||||||||||||||||||
| Earnings before income taxes | $ | 475.5 | $ | 368.4 | $ | 479.9 | $ | (165.2 | ) | $ | (22.9 | ) | ||||||||
| Fixed charges | 159.7 | 165.1 | 170.2 | 161.9 | 183.9 | |||||||||||||||
| $ | 635.2 | $ | 533.5 | $ | 650.1 | $ | (3.3 | ) | $ | 161.0 | ||||||||||
| Fixed charges: | ||||||||||||||||||||
| Interest (expensed or capitalized) | $ | 43.2 | $ | 42.5 | $ | 43.1 | $ | 42.4 | $ | 61.7 | ||||||||||
| Estimated interest portion of rent expense | 116.5 | 122.6 | 127.1 | 119.5 | 122.2 | |||||||||||||||
| $ | 159.7 | $ | 165.1 | $ | 170.2 | $ | 161.9 | $ | 183.9 | |||||||||||
| Ratio of earnings to fixed charges | 4.0 | 3.2 | 3.8 | (0.0 | ) | 0.9 | ||||||||||||||
| Note: | The calculation of ratio of earnings to fixed charges set forth above is in accordance with Regulation S-K, Item 601(b)(12). This calculation is different than the fixed charge ratio that is required by our various borrowing facilities. |