| EXHIBIT 12.1 | ||||||||||||||||||||||||
| STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES | ||||||||||||||||||||||||
| (dollars in millions, except ratio information) | ||||||||||||||||||||||||
| Fiscal Years Ended December 31, | Six Months Ended | |||||||||||||||||||||||
| 2011 | 2012 | 2013 | 2014 | 2015 | June 30, 2016 | |||||||||||||||||||
| Income from continuing operations before income tax | $ | 866.1 | $ | 944.2 | $ | 915.6 | $ | 826.7 | $ | 732.1 | $ | 569.3 | ||||||||||||
| Equity in the income of investees | (10.4 | ) | (21.4 | ) | (18.6 | ) | (14.6 | ) | (10.6 | ) | (3.6 | ) | ||||||||||||
| Cash distributions received from equity investees | 11.8 | 21.0 | 14.4 | 8.8 | 10.7 | 3.6 | ||||||||||||||||||
| 867.5 | 943.8 | 911.4 | 820.9 | 732.2 | 569.3 | |||||||||||||||||||
| Fixed Charges: | ||||||||||||||||||||||||
| Interest on long-term and short-term debt | ||||||||||||||||||||||||
| including amortization of debt expense | 87.5 | 94.5 | 96.5 | 109.5 | 274.9 | 108.0 | ||||||||||||||||||
| Portion of rental expense as can be | ||||||||||||||||||||||||
| demonstrated to be representative | ||||||||||||||||||||||||
| of the interest factor (a) | 73.4 | 75.3 | 78.6 | 79.7 | 95.7 | 49.6 | ||||||||||||||||||
| Total fixed charges | 160.9 | 169.8 | 175.1 | 189.2 | 370.6 | 157.6 | ||||||||||||||||||
| Earnings before income taxes and | ||||||||||||||||||||||||
| fixed charges | $ | 1,028.4 | $ | 1,113.6 | $ | 1,086.5 | $ | 1,010.1 | $ | 1,102.8 | $ | 726.9 | ||||||||||||
| Ratio of earnings to fixed charges | 6.39 | 6.56 | 6.21 | 5.34 | 2.98 | 4.61 | ||||||||||||||||||
(a) Rental expense for the period ended December 31, 2015 has been revised.