Western Union CO - FORM 10-Q - EX-12 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - October 30, 2009

Attached files

file filename
10-Q - FORM 10-Q - Western Union COd10q.htm
EX-10 - THE WESTERN UNION COMPANY SEVERANCE/CHANGE IN CONTROL POLICY - Western Union COdex10.htm
EX-15 - LETTER FROM ERNST & YOUNG LLP REGARDING UNAUDITED INTERIM FINANCIAL INFORMATION - Western Union COdex15.htm
EX-31.2 - CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER OF THE WESTERN UNION COMPANY - Western Union COdex312.htm
EX-31.1 - CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER OF THE WESTERN UNION COMPANY - Western Union COdex311.htm
EX-32 - CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER AND PRINCIPAL FINANCIAL OFFICER - Western Union COdex32.htm

Exhibit 12

THE WESTERN UNION COMPANY

COMPUTATION OF

RATIO OF EARNINGS TO FIXED CHARGES

(in millions)

 

     Three Months Ended
September 30,		     Nine Months Ended
September 30,		  
     2009     2008     2009    2008  

Earnings:

          

Income before income taxes

    $ 246.5      $ 333.0      $ 847.4    $ 933.5   

Fixed charges

      43.5        43.6        130.5      139.2   

Other adjustments

      (0.7 )      (2.6 )      1.2      (4.0 ) 
                               

Total earnings (a)

    $ 289.3      $ 374.0      $ 979.1    $ 1,068.7   
                               

Fixed charges:

          

Interest expense

    $ 39.3      $ 40.4      $ 119.1    $ 128.7   

Other adjustments

      4.2        3.2        11.4      10.5   
                               

Total fixed charges (b)

    $ 43.5      $ 43.6      $ 130.5    $ 139.2   
                               

Ratio of earnings to fixed charges (a/b)

      6.7        8.6        7.5      7.7   

For purposes of calculating the ratio of earnings to fixed charges, earnings have been calculated by adding income before income taxes, fixed charges, and distributions from equity method investments, and then subtracting income from equity method investments. Fixed charges consist of interest expense and an estimated interest portion of rental expenses and income tax contingencies.

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