EX-12.1 2 a2207295zex-12_1.htm EX-12.1
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Exhibit 12.1


Aon Corporation and Consolidated Subsidiaries
Combined With Unconsolidated Subsidiaries
Computation of Ratio of Earnings to Fixed Charges

 
   Years Ended December 31,  
(millions except ratio)
   2011   2010   2009   2008   2007  

Income from continuing operations before income taxes and noncontrolling interests

   $ 1,384   $ 1,059   $ 949   $ 879   $ 1,023  

Less: Equity in earnings on less than 50% owned entities

    
7		    
10		    
11		    
5		    
6		  

Add back fixed charges:

                                

Interest on indebtedness

    
245		    
182		    
122		    
126		    
138		  

Interest on uncertain tax positions

    
—		    
(1
)		  
2		    
—		    
2		  

Portion of rents representative of interest factor

    
55		    
48		    
48		    
47		    
75		  
                       

Income as adjusted

  
$
1,677		  
$
1,278		  
$
1,110		  
$
1,047		  
$
1,232		  
                       

Fixed charges:

                                

Interest on indebtedness

  
$
245		  
$
182		  
$
122		  
$
126		  
$
138		  

Interest on uncertain tax positions

    
—		    
(1
)		  
2		    
—		    
2		  

Portion of rents representative of interest factor

    
55		    
48		    
48		    
47		    
75		  
                       

Total fixed charges

  
$
300		  
$
229		  
$
172		  
$
173		  
$
215		  
                       

Ratio of earnings to fixed charges

    
5.6		    
5.6		    
6.5		    
6.1		    
5.7		  
                       



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Aon Corporation and Consolidated Subsidiaries Combined With Unconsolidated Subsidiaries Computation of Ratio of Earnings to Fixed Charges