EX-12.1 2 exhibit1212015.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1
Aon plc and Consolidated Subsidiaries
Combined With Unconsolidated Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
 
 
Years Ended December 31,
(millions except ratio)
 
2015
 
2014
 
2013
 
2012
 
2011
Income from continuing operations before income taxes and noncontrolling interests
 
$
1,689

 
$
1,765

 
$
1,538

 
$
1,380

 
$
1,388

Less: Equity in earnings on less than 50% owned entities
 
13

 
12

 
20

 
13

 
7

Add back fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest on indebtedness
 
273

 
255

 
210

 
228

 
245

Interest on uncertain tax positions
 

 
4

 
5

 
5

 

Portion of rents representative of interest factor
 
45

 
50

 
52

 
42

 
55

Income as adjusted
 
$
1,994

 
$
2,062

 
$
1,785

 
$
1,642

 
$
1,681

Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest on indebtedness
 
$
273

 
$
255

 
$
210

 
$
228

 
$
245

Interest on uncertain tax positions
 

 
4

 
5

 
5

 

Portion of rents representative of interest factor
 
45

 
50

 
52

 
42

 
55

Total fixed charges
 
$
318

 
$
309

 
$
267

 
$
275

 
$
300

Ratio of earnings to fixed charges
 
6.3

 
6.7

 
6.7

 
6.0

 
5.6