EX-12.1 5 exhibit121q12018.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

 
 
Three Months Ended March 31
 
Years Ended December 31
(millions except ratio)
 
2018
 
2017
 
2017
 
2016
 
2015
 
2014
Income from continuing operations before income taxes and noncontrolling interests
 
$
718

 
$
265

 
$
685

 
$
1,401

 
$
1,428

 
$
1,559

Less: Equity in earnings on less than 50% owned entities
 
1

 
6

 
12

 
13

 
13

 
12

Add back fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
     Interest on indebtedness
 
70

 
70

 
282

 
282

 
273

 
255

     Interest on uncertain tax positions
 
—

 
—

 
—

 
—

 
—

 
4

     Portion of rents representative of interest factor
 
10

 
8

 
33

 
28

 
33

 
40

          Income as adjusted
 
$
797

 
$
337

 
$
988

 
$
1,698

 
$
1,721

 
$
1,846

Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
     Interest on indebtedness
 
$
70

 
$
70

 
$
282

 
$
282

 
$
273

 
$
255

     Interest on uncertain tax positions
 
—

 
—

 
—

 
—

 
—

 
4

     Portion of rents representative of interest factor
 
10

 
8

 
33

 
28

 
33

 
40

          Total fixed charges
 
$
80

 
$
78

 
$
315

 
$
310

 
$
306

 
$
299

Ratio of earnings to fixed charges
 
10.0

 
4.3

 
3.1

 
5.5

 
5.6


6.2