EX-12.1 7 unhex1211231201210k.htm EXHIBIT UNH EX 12.1 12.31.2012 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)
 
2012
 
2011
 
2010
 
2009
 
2008
Earnings before income taxes
 
$
8,622

 
$
7,959

 
$
7,383

 
$
5,808

 
$
4,624

Fixed charges
 
732

 
594

 
570

 
642

 
718

Total earnings available for fixed charges
 
$
9,354

 
$
8,553

 
$
7,953

 
$
6,450

 
$
5,342

 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Interest expense
 
$
632

 
$
505

 
$
481

 
$
551

 
$
639

Interest component of rental payments
 
100

 
89

 
89

 
91

 
79

Total fixed charges
 
$
732

 
$
594

 
$
570

 
$
642

 
$
718

Ratio of earnings to fixed charges
 
12.8

 
14.4

 
14.0

 
10.0

 
7.4


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.