EX-12.1 4 mmc0930201310qex_121.htm STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES MMC 09.30.2013 10Q Ex_12.1


Exhibit 12.1

Marsh & McLennan Companies, Inc. and Subsidiaries
Ratio of Earnings to Fixed Charges
(In millions, except ratios)
 
Nine Months Ended
September 30, 2013
Years Ended December 31,
 
(Unaudited)
 
2012
 
2011
 
2010
 
2009
 
2008
Earnings
 
 
 
 
 
 
 
 
 
 
 
Income before income taxes
$
1,535

 
$
1,696

 
$
1,404

 
$
769

 
$
552

 
$
494

Interest expense
124

 
181

 
199

 
233

 
241

 
220

Portion of rents representative of the interest factor
103

 
139

 
143

 
140

 
132

 
145

 
$
1,762

 
$
2,016

 
$
1,746

 
$
1,142

 
$
925

 
$
859

Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
Interest expense
$
124

 
$
181

 
$
199

 
$
233

 
$
241

 
$
220

Portion of rents representative of the interest factor
103

 
139

 
143

 
140

 
132

 
145

 
$
227

 
$
320

 
$
342

 
$
373

 
$
373

 
$
365

Ratio of Earnings to Fixed Charges
7.8

 
6.3

 
5.1

 
3.1

 
2.5

 
2.4