EX-12.1 2 exhibit1212015.htm EXHIBIT 12.1
Exhibit 12.1
Aon plc and Consolidated Subsidiaries
Combined With Unconsolidated Subsidiaries
Computation of Ratio of Earnings to Fixed Charges

|  | Years Ended December 31,
(millions except ratio) |  | 2015 |  | 2014 |  | 2013 |  | 2012 |  | 2011
Income from continuing operations before income taxes and noncontrolling interests |  | $ | 1,689 |  |  | $ | 1,765 |  |  | $ | 1,538 |  |  | $ | 1,380 |  |  | $ | 1,388 |
Less: Equity in earnings on less than 50% owned entities |  | 13 |  |  | 12 |  |  | 20 |  |  | 13 |  |  | 7 |
Add back fixed charges: |  |  |  |  |  |  |  |  |  |
Interest on indebtedness |  | 273 |  |  | 255 |  |  | 210 |  |  | 228 |  |  | 245 |
Interest on uncertain tax positions |  | — |  |  | 4 |  |  | 5 |  |  | 5 |  |  | — |
Portion of rents representative of interest factor |  | 45 |  |  | 50 |  |  | 52 |  |  | 42 |  |  | 55 |
Income as adjusted |  | $ | 1,994 |  |  | $ | 2,062 |  |  | $ | 1,785 |  |  | $ | 1,642 |  |  | $ | 1,681 |
Fixed charges: |  |  |  |  |  |  |  |  |  |
Interest on indebtedness |  | $ | 273 |  |  | $ | 255 |  |  | $ | 210 |  |  | $ | 228 |  |  | $ | 245 |
Interest on uncertain tax positions |  | — |  |  | 4 |  |  | 5 |  |  | 5 |  |  | — |
Portion of rents representative of interest factor |  | 45 |  |  | 50 |  |  | 52 |  |  | 42 |  |  | 55 |
Total fixed charges |  | $ | 318 |  |  | $ | 309 |  |  | $ | 267 |  |  | $ | 275 |  |  | $ | 300 |
Ratio of earnings to fixed charges |  | 6.3 |  |  | 6.7 |  |  | 6.7 |  |  | 6.0 |  |  | 5.6 |