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10-Q - FORM 10-Q - MARSH & MCLENNAN COMPANIES, INC.mmc0630201510q.htm
EX-32.1 - SECTION 1350 CERTIFICATIONS - MARSH & MCLENNAN COMPANIES, INC.mmc0630201510qex_321.htm
EX-31.2 - RULE 13A-14(A)/15D-14(A) CERTIFICATION OF CHIEF FINANCIAL OFFICER - MARSH & MCLENNAN COMPANIES, INC.mmc0630201510qex_312.htm
EX-31.1 - RULE 13A-14(A)/15D-14(A) CERTIFICATION OF CHIEF EXECUTIVE OFFICER - MARSH & MCLENNAN COMPANIES, INC.mmc0630201510qex_311.htm


Exhibit 12.1

Marsh & McLennan Companies, Inc. and Subsidiaries
Ratio of Earnings to Fixed Charges
(In millions, except ratios)
 
Six Months Ended
June 30, 2015
Years Ended December 31,
 
(Unaudited)
 
2014
 
2013
 
2012
 
2011
 
2010
Earnings
 
 
 
 
 
 
 
 
 
 
 
Income before income taxes
$
1,299

 
$
2,057

 
$
1,973

 
$
1,696

 
$
1,404

 
$
769

Interest expense
76

 
165

 
167

 
181

 
199

 
233

Portion of rents representative of the interest factor
74

 
131

 
134

 
139

 
143

 
140

 
$
1,449

 
$
2,353

 
$
2,274

 
$
2,016

 
$
1,746

 
$
1,142

Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
Interest expense
$
76

 
$
165

 
$
167

 
$
181

 
$
199

 
$
233

Portion of rents representative of the interest factor
74

 
131

 
134

 
139

 
143

 
140

 
$
150

 
$
296

 
$
301

 
$
320

 
$
342

 
$
373

Ratio of Earnings to Fixed Charges
9.7

 
7.9

 
7.6

 
6.3

 
5.1

 
3.1