MARSH & MCLENNAN COMPANIES, INC. - FORM 10-Q - EX-12.1 - STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - April 27, 2018

Attached files

file	filename
10-Q - FORM 10-Q - MARSH & MCLENNAN COMPANIES, INC.	mmc0331201810q.htm
EX-32.1 - SECTION 1350 CERTIFICATIONS - MARSH & MCLENNAN COMPANIES, INC.	mmc0331201810qex_321.htm
EX-31.2 - RULE 13A-14(A)/15D-14(A) CERTIFICATION OF CHIEF FINANCIAL OFFICER - MARSH & MCLENNAN COMPANIES, INC.	mmc0331201810qex_312.htm
EX-31.1 - RULE 13A-14(A)/15D-14(A) CERTIFICATION OF CHIEF EXECUTIVE OFFICER - MARSH & MCLENNAN COMPANIES, INC.	mmc0331201810qex_311.htm
EX-10.6 - NON-COMPETE NON-SOLICIT DOYLE - MARSH & MCLENNAN COMPANIES, INC.	non-competeagreement_doyle.htm
EX-10.5 - LETTER AGREEMENT DOYLE - MARSH & MCLENNAN COMPANIES, INC.	letteragreement_doyle2017e.htm
EX-10.4 - FORM OF SO AWARD - MARSH & MCLENNAN COMPANIES, INC.	formofsoaward2018ex_104.htm
EX-10.3 - FORM OF PSU AWARD - MARSH & MCLENNAN COMPANIES, INC.	formofpsuaward2018ex_103.htm
EX-10.2 - FORM OF RSU AWARD - MARSH & MCLENNAN COMPANIES, INC.	formofrsuaward2018ex_102.htm
EX-10.1 - FORM OF DSU AWARD - MARSH & MCLENNAN COMPANIES, INC.	formofdsuaward2018ex_101.htm
EX-4.1 - TENTH SUPPLEMENTAL INDENTURE DATED MARCH 1, 2018 - MARSH & MCLENNAN COMPANIES, INC.	mmctenthsupplindentureex_41.htm

Exhibit 12.1

Marsh & McLennan Companies, Inc. and Subsidiaries

Ratio of Earnings to Fixed Charges

(In millions, except ratios)



	Three Months Ended March 31, 2018			Years Ended December 31,
	(Unaudited)				2017				2016				2015				2014				2013
Earnings
Income before income taxes	$	916			$	2,643			$	2,480			$	2,307			$	2,057			$	1,973
Interest expense	61				237				189				163				165				167
Portion of rents representative of the interest factor	31				118				122				127				131				134
	$	1,008			$	2,998			$	2,791			$	2,597			$	2,353			$	2,274
Fixed Charges
Interest expense	$	61			$	237			$	189			$	163			$	165			$	167
Portion of rents representative of the interest factor	31				118				122				127				131				134
	$	92			$	355			$	311			$	290			$	296			$	301
Ratio of Earnings to Fixed Charges	11.0				8.4				9.0				9.0				7.9				7.6