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Exhibit 12.1
STATEMENT REGARDING COMPUTATION
OF RATIO OF EARNINGS TO FIXED CHARGES
MANPOWERGROUP INC.
(in millions)
| 3 Months Ended | ||||
| March 31, 2016 | ||||
| Earnings: | ||||
| Earnings before income taxes | $ | 119.0 | ||
| Fixed charges | 23.3 | |||
| $ | 142.3 | |||
| Fixed charges: | ||||
| Interest (expensed or capitalized) | $ | 9.5 | ||
| Estimated interest portion of rent expense | 13.8 | |||
| $ | 23.3 | |||
| Ratio of earnings to fixed charges | 6.1 | |||
| 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||
| Earnings: | |||||||||||||||||||
| Earnings before income taxes | $ | 660.7 | $ | 681.6 | $ | 475.5 | $ | 368.4 | $ | 479.9 | |||||||||
| Fixed charges | 118.4 | 133.6 | 159.7 | 165.1 | 170.2 | ||||||||||||||
| $ | 779.1 | $ | 815.2 | $ | 635.2 | $ | 533.5 | $ | 650.1 | ||||||||||
| Fixed charges: | |||||||||||||||||||
| Interest (expensed or capitalized) | $ | 38.6 | $ | 35.1 | $ | 43.2 | $ | 42.5 | $ | 43.1 | |||||||||
| Estimated interest portion of rent expense | 79.8 | 98.5 | 116.5 | 122.6 | 127.1 | ||||||||||||||
| $ | 118.4 | $ | 133.6 | $ | 159.7 | $ | 165.1 | $ | 170.2 | ||||||||||
| Ratio of earnings to fixed charges | 6.6 | 6.1 | 4.0 | 3.2 | 3.8 | ||||||||||||||
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.