EX-12 14 mmc-12312012ex121.htm STATEMENT RE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES MMC-12.31.2012 Ex12.1



Exhibit 12.1


Marsh & McLennan Companies, Inc. and Subsidiaries
Ratio of Earnings to Fixed Charges
(In millions, except ratios)
 
 
 
Years Ended December 31,
 
2012

 
2011
 
2010
 
2009
 
2008
 
Earnings
 
 
 
 
 
 
 
 
 
 
Income before income taxes
$
1,696

 
$
1,404

 
$
769

 
$
552

 
$
494

 
Interest expense
181

 
199

 
233

 
241

 
220

 
Portion of rents representative of the interest factor
139

 
143

 
140

 
132

 
145

 
 
$
2,016

 
$
1,746

 
$
1,142

 
$
925

 
$
859

 
Fixed Charges
 
 
 
 
 
 
 
 
 
 
Interest expense
$
181

 
$
199

 
$
233

 
$
241

 
$
220

 
Portion of rents representative of the interest factor
139

 
143

 
140

 
132

 
145

 
 
$
320

 
$
342

 
$
373

 
$
373

 
$
365

 
Ratio of Earnings to Fixed Charges
6.3

 
5.1

 
3.1

 
2.5

 
2.4