Attached files
| file | filename |
|---|---|
| EX-31.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER OF THE WESTERN UNION COMPANY - Western Union CO | wu-09302016xex311.htm |
| 10-Q - 10-Q - Western Union CO | wu-9302016x10q.htm |
| EX-32 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER - Western Union CO | wu-09302016xex32.htm |
| EX-31.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER OF THE WESTERN UNION COMPANY - Western Union CO | wu-09302016xex312.htm |
| EX-15 - LETTER FROM ERNST & YOUNG LLP REGARDING UNAUDITED INTERIM FINANCIAL INFORMATION - Western Union CO | wu-09302016xex15.htm |
Exhibit 12
THE WESTERN UNION COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(unaudited)
(in millions)
Three Months Ended September 30, | Nine Months Ended September 30, | Years Ended December 31, | |||||||||||||||||||||||||
2016 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||||||||
Earnings: | |||||||||||||||||||||||||||
Income before income taxes | $ | 240.0 | $ | 680.0 | $ | 941.8 | $ | 968.2 | $ | 926.9 | $ | 1,168.8 | $ | 1,274.6 | |||||||||||||
Fixed charges | 43.1 | 129.6 | 175.6 | 182.7 | 198.8 | 177.8 | 182.9 | ||||||||||||||||||||
Other adjustments | (0.1 | ) | (0.4 | ) | (6.9 | ) | (3.2 | ) | (0.7 | ) | 5.3 | 2.6 | |||||||||||||||
Total earnings (a) | $ | 283.0 | $ | 809.2 | $ | 1,110.5 | $ | 1,147.7 | $ | 1,125.0 | $ | 1,351.9 | $ | 1,460.1 | |||||||||||||
Fixed charges: | |||||||||||||||||||||||||||
Interest expense | $ | 41.4 | $ | 122.9 | $ | 167.9 | $ | 176.6 | $ | 195.6 | $ | 179.6 | $ | 181.9 | |||||||||||||
Other adjustments | 1.7 | 6.7 | 7.7 | 6.1 | 3.2 | (1.8 | ) | 1.0 | |||||||||||||||||||
Total fixed charges (b) | $ | 43.1 | $ | 129.6 | $ | 175.6 | $ | 182.7 | $ | 198.8 | $ | 177.8 | $ | 182.9 | |||||||||||||
Ratio of earnings to fixed charges (a/b) | 6.6 | 6.2 | 6.3 | 6.3 | 5.7 | 7.6 | 8.0 | ||||||||||||||||||||
For purposes of calculating the ratio of earnings to fixed charges, earnings have been calculated by adding income before income taxes, fixed charges included in the determination of income before income taxes 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, which are included as a component of income tax expense.