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, 2015
 
         
 
Earnings:
     
 
    Earnings before income taxes
  $
 112.2
 
 
    Fixed charges
    29.7  
      $ 141.9  
           
 
Fixed charges:
       
 
    Interest (expensed or capitalized)
  $ 8.2  
 
    Estimated interest portion of rent expense
    21.5  
      $ 29.7  
           
           
 
Ratio of earnings to fixed charges
    4.8  

 


 
   
2014
   
2013
   
2012
   
2011
   
2010
 
Earnings:
                             
     Earnings before income taxes
  $ 681.6     $
475.5
    $ 368.4     $ 479.9     $ (165.2 )
     Fixed charges
    133.6       159.7       165.1       170.2       161.9  
    $ 815.2     $ 635.2     $ 533.5     $ 650.1     $ (3.3
                                         
Fixed charges:
                                       
     Interest (expensed or capitalized)
  $ 35.1     $ 43.2     $ 42.5     $ 43.1     $ 42.4  
     Estimated interest portion of rent expense
    98.5       116.5       122.6       127.1       119.5  
    $ 133.6     $ 159.7     $ 165.1     $ 170.2     $ 161.9  
                                         
Ratio of earnings to fixed charges
    6.1       4.0       3.2       3.8       (0.0

 
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.