EX-12.1 2 exhibit_12-1.htm STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES exhibit_12-1.htm
Exhibit 12.1
 
STATEMENT REGARDING COMPUTATION
OF RATIO OF EARNINGS TO FIXED CHARGES
 
MANPOWER INC.
(in millions)



   
2011
    
2010
    
2009
    
2008
    
2007
  
Earnings:
                              
     Earnings before income taxes from continuing operations
   $ 479.9     $
(165.2
 )   $ (22.9 )   $ 442.6     $ 777.0  
     Fixed charges
     170.2       161.9       183.9       200.9       185.2  
    $ 650.1     $ (3.3 )    $ 161.0     $ 643.5     $ 962.2  
                                         
Fixed charges:
                                        
     Interest (expensed or capitalized)
   $ 43.1     $ 42.4     $ 61.7     $ 64.2     $ 65.0  
     Estimated interest portion of rent expense
     127.1       119.5       122.2       136.7       120.2  
    $ 170.2     $ 161.9     $ 183.9     $ 200.9     $ 185.2  
                                         
Ratio of earnings to fixed charges
     3.8       (0.0 )      0.9       3.2       5.2  

 
   
Note:
The calculation of ratio of earnings to fixed charges set forth above is in accordance with Regulation S-K, Item 601(b)(12). This calculation is different than the fixed charge ratio that is required by our various borrowing facilities.