Attached files

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EX-32.1 - SECTION 1350 CERTIFICATIONS - MARSH & MCLENNAN COMPANIES, INC.mmc0930201810qex_321.htm
EX-31.2 - RULE 13A-14(A)/15D-14(A) CERTIFICATION OF CHIEF FINANCIAL OFFICER - MARSH & MCLENNAN COMPANIES, INC.mmc0930201810qex_312.htm
EX-31.1 - RULE 13A-14(A)/15D-14(A) CERTIFICATION OF CHIEF EXECUTIVE OFFICER - MARSH & MCLENNAN COMPANIES, INC.mmc0930201810qex_311.htm
10-Q - FORM 10-Q - MARSH & MCLENNAN COMPANIES, INC.mmc0930201810q.htm


Exhibit 12.1

Marsh & McLennan Companies, Inc. and Subsidiaries
Ratio of Earnings to Fixed Charges
(In millions, except ratios)
 
Nine Months Ended
September 30, 2018
Years Ended December 31,
 
(Unaudited)
 
2017
 
2016
 
2015
 
2014
 
2013
Earnings
 
 
 
 
 
 
 
 
 
 
 
Income before income taxes
$
2,020

 
$
2,643

 
$
2,480

 
$
2,307

 
$
2,057

 
$
1,973

Interest expense
198

 
237

 
189

 
163

 
165

 
167

Portion of rents representative of the interest factor
91

 
118

 
122

 
127

 
131

 
134

 
$
2,309

 
$
2,998

 
$
2,791

 
$
2,597

 
$
2,353

 
$
2,274

Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
Interest expense
$
198

 
$
237

 
$
189

 
$
163

 
$
165

 
$
167

Portion of rents representative of the interest factor
91

 
118

 
122

 
127

 
131

 
134

 
$
289

 
$
355

 
$
311

 
$
290

 
$
296

 
$
301

Ratio of Earnings to Fixed Charges
8.0

 
8.4

 
9.0

 
9.0

 
7.9

 
7.6