EX-12.1 2 mmc-06x30201210qex_1211.htm CHART - RATIO OF EARNINGS TO FIXED CHARGES MMC-06-30.2012 10Q Ex_12.1 (1)


Exhibit 12.1

Marsh & McLennan Companies, Inc. and Subsidiaries
Ratio of Earnings to Fixed Charges
(In millions, except ratios)
 
Three and Six Months Ended
June 30, 2012
Years Ended December 31,
 
(Unaudited)
 
2011
 
2010
 
2009
 
2008
 
2007
Earnings
 
 
 
 
 
 
 
 
 
 
 
Income before income taxes
$
990

 
$
1,404

 
$
769

 
$
552

 
$
494

 
$
759

Interest expense
91

 
199

 
233

 
241

 
220

 
266

Portion of rents representative of the interest factor
71

 
143

 
140

 
132

 
145

 
162

 
$
1,152

 
$
1,746

 
$
1,142

 
$
925

 
$
859

 
$
1,187

Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
Interest expense
$
91

 
$
199

 
$
233

 
$
241

 
$
220

 
$
266

Portion of rents representative of the interest factor
71

 
143

 
140

 
132

 
145

 
162

 
$
162

 
$
342

 
$
373

 
$
373

 
$
365

 
$
428

Ratio of Earnings to Fixed Charges
7.1

 
5.1

 
3.1

 
2.5

 
2.4

 
2.8