EX-12.1 2 unhex1213312014.htm EXHIBIT UNH EX 12.1 3.31.2014


EXHIBIT 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(dollars in millions)
 
March 31, 2014
 
March 31, 2013
Earnings before income taxes
 
$
1,894

 
$
1,961

Fixed charges
 
192

 
209

Total earnings available for fixed charges
 
$
2,086

 
$
2,170

 
 
 
 
 
Fixed Charges:
 
 
 
 
Interest expense
 
$
160

 
$
178

Interest component of rental payments
 
32

 
31

Total fixed charges
 
$
192

 
$
209

Ratio of earnings to fixed charges
 
10.9

 
10.4

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.