EX-12.1 8 ratio.htm STATEMENT REGARDING COMPUTATION Exhibit 12

Exhibit 12.1

Manpower Inc.
Ratio of Earnings to Fixed Charges
(USD in millions)

Six

Months

Ended

June 30

         Years Ended December 31,          

2001

2000

1999

1998

1997

1996

Earnings:

   Earnings before income taxes

$ 96.0

$ 265.2

$ 205.8

$ 113.8

$ 249.2

$ 242.3

   Fixed charges

47.5

94.0

71.6

65.1

47.2

40.0

$ 143.5
======

$ 359.2
======

$ 277.4
======

$ 178.9
======

$ 296.4
======

$ 282.3
======

Fixed Charges:

   Interest (expensed or capitalized)

$ 17.4

$ 35.0

$ 17.3

$ 19.2

$ 11.1

$ 6.4

   Estimated interest portion of rent
     expense


30.1


59.0


54.3


45.9


36.1


33.6

$ 47.5
=====

$ 94.0
=====

$ 71.6
=====

$ 65.1
=====

$ 47.2
=====

$ 40.0
=====

Ratio of earnings to fixed charges

3.0
===

3.8
===

3.9
===

2.7
===

6.3
===

7.1
===