EX-12.1 9 ex12.htm COMPUTATION RATIO ex12.htm

Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges

The computation of the ratio of earnings to fixed charges for the years ended December 31, 2008, 2007, 2006, 2005 and 2004 are as follows:

                               
   
Years Ended December 31,
  
(Millions)
  
2008
    
2007
    
2006
    
2005
    
2004
  
Pretax income from continuing operations
   $ 2,174.2     $ 2,796.4     $ 2,586.6     $ 2,453.3     $ 1,760.0  
Add back fixed charges
     297.9       234.3       199.5       177.5       165.5  
Income as adjusted
   $ 2,472.1     $ 3,030.7     $ 2,786.1     $ 2,630.8     $ 1,925.5  
                                         
Fixed charges:
                                        
Interest on indebtedness
   $ 236.4     $ 180.6     $ 148.3     $ 122.8     $ 104.7  
Portion of rents representative of interest factor
     61.5       53.7       51.2       54.7       60.8  
Total fixed charges
   $ 297.9     $ 234.3     $ 199.5     $ 177.5     $ 165.5  
                                         
Ratio of earnings to fixed charges
     8.30       12.94       13.97       14.82       11.63