EX-12.1 2 dex121.htm STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES. Statement Regarding Computation of Ratio of Earnings to Fixed Charges.

Exhibit 12.1

STATEMENT REGARDING COMPUTATION

OF RATIO OF EARNINGS TO FIXED CHARGES

MANPOWER INC.

(in millions)

 

     9 Months Ended
September 30, 2007

Earnings:

  

Earnings before income taxes from continuing operations

   $ 575.8

Fixed charges

     136.0
      
   $ 711.8
      

Fixed charges:

  

Interest (expensed or capitalized)

   $ 48.5

Estimated interest portion of rent expense

     87.5
      
   $ 136.0
      

Ratio of earnings to fixed charges

     5.2
      

 

     Years Ended December 31,
     2006    2005    2004    2003    2002

Earnings:

              

Earnings before income taxes from continuing operations

   $ 481.9    $ 387.0    $ 371.6    $ 223.3    $ 186.2

Fixed charges

     162.8      153.2      153.0      124.4      116.5
                                  
   $ 644.7    $ 540.2    $ 524.6    $ 347.7    $ 302.7
                                  

Fixed charges:

              

Interest (expensed or capitalized)

   $ 54.1    $ 46.7    $ 45.3    $ 41.2    $ 42.3

Estimated interest portion of rent expense

     108.7      106.5      107.7      83.2      74.2
                                  
   $ 162.8    $ 153.2    $ 153.0    $ 124.4    $ 116.5
                                  

Ratio of earnings to fixed charges

     4.0      3.5      3.4      2.8      2.6
                                  

 

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.