EX-12.1 3 mmc0630201810qex_121.htm STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit


Exhibit 12.1

Marsh & McLennan Companies, Inc. and Subsidiaries
Ratio of Earnings to Fixed Charges
(In millions, except ratios)
 
Six Months Ended
June 30, 2018
Years Ended December 31,
 
(Unaudited)
 
2017
 
2016
 
2015
 
2014
 
2013
Earnings
 
 
 
 
 
 
 
 
 
 
 
Income before income taxes
$
1,635

 
$
2,643

 
$
2,480

 
$
2,307

 
$
2,057

 
$
1,973

Interest expense
129

 
237

 
189

 
163

 
165

 
167

Portion of rents representative of the interest factor
61

 
118

 
122

 
127

 
131

 
134

 
$
1,825

 
$
2,998

 
$
2,791

 
$
2,597

 
$
2,353

 
$
2,274

Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
Interest expense
$
129

 
$
237

 
$
189

 
$
163

 
$
165

 
$
167

Portion of rents representative of the interest factor
61

 
118

 
122

 
127

 
131

 
134

 
$
190

 
$
355

 
$
311

 
$
290

 
$
296

 
$
301

Ratio of Earnings to Fixed Charges
9.6

 
8.4

 
9.0

 
9.0

 
7.9

 
7.6