EX-12.1 2 unhex121201110k.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES UNH EX 12.1 2011 10K


EXHIBIT 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
 
 
December 31,
 
December 31,
 
December 31,
 
December 31,
 
December 31,
(dollars in millions)
 
2011
 
2010
 
2009
 
2008
 
2007
Earnings before income taxes
 
$
7,959

 
$
7,383

 
$
5,808

 
$
4,624

 
$
7,305

Fixed charges
 
594

 
570

 
642

 
718

 
629

Total earnings available for fixed charges
 
$
8,553

 
$
7,953

 
$
6,450

 
$
5,342

 
$
7,934

 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:

 
 
 
 
 
 
 
 
 
 
Interest expense
 
$
505

 
$
481

 
$
551

 
$
639

 
$
562

Interest component of rental payments
 
89

 
89

 
91

 
79

 
67

Total fixed charges
 
$
594

 
$
570

 
$
642

 
$
718

 
$
629

Ratio of earnings to fixed charges
 
14.4

 
14.0

 
10.0

 
7.4

 
12.6


The ratio of earnings to fixed charges is computed by dividing total earnings available for fixed charges by the fixed charges. For purposes of computing this ratio, fixed charges consist of interest expense plus the interest factor in rental expense.