Exhibit (12)

McGraw Hill Financial, Inc.

Computation of Ratio of Earnings to Fixed Charges

(in millions)

	Years ended December 31,
	2014			2013			2012			2011			2010
Earnings:
Income from continuing operations before taxes on income	$	54	1	$	1,299	2	$	1,089	3	$	975	4	$	921	5
Fixed charges 6	118			124			128			131			133
Total earnings	$	172		$	1,423		$	1,217		$	1,106		$	1,054
Fixed charges:6
Interest expense	$	58		$	62		$	81		$	86		$	89
Portion of rental payments deemed to be interest	59			61			46			44			43
Amortization of debt issuance costs and discount	1			1			1			1			1
Total fixed charges	$	118		$	124		$	128		$	131		$	133
Ratio of earnings to fixed charges:	1.5		x	11.5		x	9.5		x	8.4		x	7.9		x

¹ Includes the impact of the following items: $1.6 billion of legal and regulatory settlements, restructuring charges of $86 million, and $4 million of professional fees largely related to corporate development activities.

² Includes the impact of the following items: $77 million of legal settlements, $64 million charge for costs necessary to enable the separation of MHE and reduce our cost structure, a $36 million non-cash impairment charge related to the sale of our data center, a $28 million restructuring charge in the fourth quarter primarily related to severance, $13 million related to terminating various leases as we reduce our real estate portfolio and a $24 million net gain from our dispositions.

³ Includes the impact of the following items: $135 million charge for costs necessary to enable the separation of MHE and reduce our cost structure, a $65 million restructuring charge, transaction costs of $15 million for our S&P Dow Jones Indices LLC joint venture, an $8 million charge related to a reduction in our lease commitments, partially offset by a vacation accrual reversal of $52 million.

⁴ Includes the impact of a $31 million restructuring charge and a $10 million charge for costs necessary to enable the separation of MHE and reduce our cost structure.

⁵ Includes the impact of the following items: a $16 million charge for subleasing excess space in our New York facilities, a $4 million restructuring charge and a $7 million gain on the sale of certain equity interests at S&P Ratings.

⁶"Fixed charges" consist of (1) interest on debt and interest related to the sale leaseback of Rock-McGraw, Inc. (see Note 12 - Commitments and Contingencies to the consolidated financial statements under Item 8, Consolidated Financial Statements and Supplementary Data, in this Form 10-K), (2) the portion of our rental expense deemed representative of the interest factor in rental expense, and (3) amortization of debt issue costs and discount to any indebtedness.