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
 
MANPOWERGROUP INC.
 
(in millions)


     
3 Months Ended
 
     
March 31, 2013
 
         
 
Earnings:
     
 
    Earnings before income taxes
  $
 42.9
 
 
    Fixed charges
     42.9  
      $ 85.8  
           
 
Fixed charges:
       
 
    Interest (expensed or capitalized)
  $ 10.9  
 
    Estimated interest portion of rent expense
    32.0  
      $ 42.9  
           
           
 
Ratio of earnings to fixed charges
    2.0  


   
2012
   
2011
   
2010
   
2009
   
2008
 
Earnings:
                             
     Earnings before income taxes
  $ 368.4     $ 479.9     $ (165.2   $ (22.9   $ 442.6  
     Fixed charges
    165.1       170.2       161.9       183.9       200.9  
    $ 533.5     $ 650.1     $ (3.3   $ 161.0     $ 643.5  
                                         
Fixed charges:
                                       
     Interest (expensed or capitalized)
  $ 42.5     $ 43.1     $ 42.4     $ 61.7     $ 64.2  
     Estimated interest portion of rent expense
    122.6       127.1       119.5       122.2       136.7  
    $ 165.1     $ 170.2     $ 161.9     $ 183.9     $ 200.9  
                                         
Ratio of earnings to fixed charges
    3.2       3.8       (0.0     0.9       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.