EX-12.1 2 exhibit12-1.htm EXHIBIT 12.1 exhibit12-1.htm
Exhibit 12.1

Computation of Ratios

The computation of the ratio of earnings to fixed charges for the six months ended June 30, 2011 and the years ended December 31, 2010, 2009, 2008, 2007 and 2006 are as follows:
 
Six Months Ended
    
Years Ended December 31,
  
(Millions)
June 30, 2011
    
2010
    
2009
    
2008
    
2007
    
2006
  
Income from continuing operations before income taxes
   $ 1,719.5     $ 2,644.2     $ 1,901.2     $ 2,174.2     $ 2,796.4     $ 2,586.6  
Add back fixed charges
     150.2       307.7       302.9       297.9       234.3       199.5  
Income as adjusted ("earnings")
   $ 1,869.7     $ 2,951.9     $ 2,204.1     $ 2,472.1     $ 3,030.7     $ 2,786.1  
                                                 
Fixed charges:
                                                
Interest expense
   $ 127.6     $ 254.6     $ 243.4     $ 236.4     $ 180.6     $ 148.3  
Portion of rents representative of interest factor
     22.6       53.1       59.5       61.5       53.7       51.2  
Total fixed charges
   $ 150.2     $ 307.7     $ 302.9     $ 297.9     $ 234.3     $ 199.5  
                                                 
Ratio of earnings to fixed charges
     12.45       9.59       7.28       8.30       12.94       13.97