Attached files
| file | filename |
|---|---|
| EX-31.1 - EXHIBIT 31.1 - Mastercard Inc | exb311-12312015.htm |
| EX-32.2 - EXHIBIT 32.2 - Mastercard Inc | exb322-12312015.htm |
| EX-32.1 - EXHIBIT 32.1 - Mastercard Inc | exb321-12312015.htm |
| 10-K - 10-K - Mastercard Inc | ma12312015-10xk.htm |
| EX-21 - EXHIBIT 21 - Mastercard Inc | exb21-12312015.htm |
| EX-31.2 - EXHIBIT 31.2 - Mastercard Inc | exb312-12312015.htm |
| EX-23.1 - EXHIBIT 23.1 - Mastercard Inc | exb231-12312015.htm |
EXHIBIT 12.1
MASTERCARD INCORPORATED
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Years Ended December 31, | |||||||||||||||||||
2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||
(in millions, except ratios) | |||||||||||||||||||
Pre-tax income before adjustment for non-controlling interests | $ | 4,952 | $ | 5,082 | $ | 4,502 | $ | 3,932 | $ | 2,746 | |||||||||
Loss attributable to non-controlling interests and equity investments | 89 | 27 | 37 | 25 | 18 | ||||||||||||||
Add: Fixed charges | 63 | 50 | 20 | 25 | 29 | ||||||||||||||
Earnings | $ | 5,104 | $ | 5,159 | $ | 4,559 | $ | 3,982 | $ | 2,793 | |||||||||
Fixed charges: | |||||||||||||||||||
Interest expense | $ | 61 | $ | 48 | $ | 14 | $ | 20 | $ | 25 | |||||||||
Portion of rental expense under operating leases deemed to be the equivalent of interest 1 | 2 | 2 | 6 | 5 | 4 | ||||||||||||||
Total fixed charges | $ | 63 | $ | 50 | $ | 20 | $ | 25 | $ | 29 | |||||||||
Ratio of earnings to fixed charges | 81.0 | 103.2 | 228.0 | 159.3 | 96.3 | ||||||||||||||
1 Portion of rental expense under operating leases deemed to be the equivalent of interest at an appropriate interest factor.