EX-12.1 4 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, 2009, 2008, 2007, 2006 and 2005 are as follows:

   
Years Ended December 31,
 
(Millions)
 
2009
   
2008
   
2007
   
2006
   
2005
 
Pretax income from continuing operations
  $ 1,901.2     $ 2,174.2     $ 2,796.4     $ 2,586.6     $ 2,453.3  
Add back fixed charges
    302.9       297.9       234.3       199.5       177.5  
Income as adjusted
  $ 2,204.1     $ 2,472.1     $ 3,030.7     $ 2,786.1     $ 2,630.8  
                                         
Fixed charges:
                                       
Interest on indebtedness
  $ 243.4     $ 236.4     $ 180.6     $ 148.3     $ 122.8  
Portion of rents representative of interest factor
    59.5       61.5       53.7       51.2       54.7  
Total fixed charges
  $ 302.9     $ 297.9     $ 234.3     $ 199.5     $ 177.5  
                                         
Ratio of earnings to fixed charges
    7.28       8.30       12.94       13.97       14.82