Exhibit 12.1
STATEMENT REGARDING COMPUTATION
OF RATIO OF EARNINGS TO FIXED CHARGES
MANPOWER INC.
(in millions)
Years Ended December 31, | |||||||||||||||
2005 | 2004 | 2003 | 2002 | 2001 | |||||||||||
Earnings: |
|||||||||||||||
Earnings before income taxes |
$ | 394.7 | $ | 369.5 | $ | 222.1 | $ | 188.0 | $ | 197.9 | |||||
Fixed charges |
153.4 | 153.2 | 125.0 | 116.5 | 107.4 | ||||||||||
$ | 548.1 | $ | 522.7 | $ | 347.1 | $ | 304.5 | $ | 305.3 | ||||||
Fixed charges: |
|||||||||||||||
Interest (expensed or capitalized) |
$ | 46.7 | $ | 45.4 | $ | 41.4 | $ | 42.4 | $ | 39.1 | |||||
Estimated interest portion of rent expense |
106.7 | 107.8 | 83.6 | 74.1 | 68.3 | ||||||||||
$ | 153.4 | $ | 153.2 | $ | 125.0 | $ | 116.5 | $ | 107.4 | ||||||
Ratio of earnings to fixed charges |
3.6 | 3.4 | 2.8 | 2.6 | 2.8 | ||||||||||
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. |