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)


     
9 Months Ended
 
     
Septenber 30, 2014
 
         
 
Earnings:
     
 
    Earnings before income taxes
  $
 499.6
 
 
    Fixed charges
     102.6  
      $ 602.2  
           
 
Fixed charges:
       
 
    Interest (expensed or capitalized)
  $ 27.9  
 
    Estimated interest portion of rent expense
    74.7  
      $ 102.6  
           
           
 
Ratio of earnings to fixed charges
    5.9  

 


   
2013
   
2012
   
2011
   
2010
   
2009
 
Earnings:
                             
     Earnings before income taxes
  $ 475.5     $
368.4
    $ 479.9     $ (165.2   $ (22.9 )
     Fixed charges
    159.7       165.1       170.2       161.9       183.9  
    $ 635.2     $ 533.5     $ 650.1     $ (3.3   $ 161.0  
                                         
Fixed charges:
                                       
     Interest (expensed or capitalized)
  $ 43.2     $ 42.5     $ 43.1     $ 42.4     $ 61.7  
     Estimated interest portion of rent expense
    116.5       122.6       127.1       119.5       122.2  
    $ 159.7     $ 165.1     $ 170.2     $ 161.9     $ 183.9  
                                         
Ratio of earnings to fixed charges
    4.0       3.2       3.8       (0.0     0.9  

 
 
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.