EX-12.1 2 a09-30756_1ex12d1.htm EX-12.1

Exhibit 12.1

 

Aon Corporation and Consolidated Subsidiaries

Combined With Unconsolidated Subsidiaries

Computation of Ratio of Earnings to Fixed Charges

 

 

 

Nine Months Ended

 

 

 

 

 

 

 

 

 

 

 

 

 

Sept. 30,

 

Years Ended December 31,

 

(millions except ratios)

 

2009

 

2008

 

2008

 

2007

 

2006

 

2005

 

2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before provision for income taxes and noncontrolling interests

 

$

733

 

$

703

 

$

879

 

$

1,025

 

$

738

 

$

567

 

$

519

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less: Earnings from unconsolidated entities under the equity method of accounting

 

10

 

2

 

5

 

6

 

5

 

7

 

3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Add back fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on indebtedness

 

87

 

96

 

126

 

138

 

129

 

125

 

136

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on uncertain tax positions

 

(2

)

(1

)

 

(2

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Portion of rents representative of interest factor

 

30

 

39

 

47

 

75

 

79

 

71

 

73

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income as adjusted

 

$

838

 

$

835

 

$

1,047

 

$

1,230

 

$

941

 

$

756

 

$

725

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on indebtedness

 

$

87

 

$

96

 

$

126

 

$

138

 

$

129

 

$

125

 

$

136

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Portion of rents representative of interest factor

 

30

 

39

 

47

 

75

 

79

 

71

 

73

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges

 

$

117

 

$

135

 

$

173

 

$

213

 

$

208

 

$

196

 

$

209

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

7.2

 

6.2

 

6.1

 

5.8

 

4.5

 

3.9

 

3.5

 

 

1