EX-12.1 2 exhibit12_1.htm COMPUTATION RATIO COMPUTATION RATIO EX 12.1 - 2013


Exhibit 12.1

Statement re: Computation of Ratios

The computation of the ratio of earnings to fixed charges for the years ended December 31, 2009 through 2013 are as follows:

 
Years Ended December 31,
(Millions)
2013

2012

2011

2010

2009

Income from continuing operations before income taxes
$
2,936.9

$
2,545.4

$
3,077.8

$
2,644.2

$
1,901.2

Add back fixed charges
393.2

318.6

293.6

307.7

302.9

Income as adjusted ("earnings")
$
3,330.1

$
2,864.0

$
3,371.4

$
2,951.9

$
2,204.1

 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
Interest expense
$
333.7

$
268.8

$
246.9

$
254.6

$
243.4

Portion of rents representative of interest factor
59.5

49.8

46.7

53.1

59.5

Total fixed charges
$
393.2

$
318.6

$
293.6

$
307.7

$
302.9

Ratio of earnings to fixed charges
8.47

8.99

11.48

9.59

7.28