EX-12 37 tkr33119exhibit12.htm EXHIBIT 12 Exhibit
EXHIBIT 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions, except ratio amounts)


 
Three Months Ended
March 31,
 
Twelve Months Ended, December 31,
 
2019
2018
 
2018
2017
2016
2015
2014
 
 
 
 
 
 
 
 
 
Income from continuing operations before
income taxes
$
136.6

$
108.8

 
$
408.1

$
259.9

$
201.6

$
217.7

$
121.4

 
 
 
 
 
 
 
 
 
Share of undistributed (income) loss from 50%-or-less-owned affiliates, excluding affiliates with guaranteed debt
(0.3
)
(0.1
)
 
(0.7
)
(0.8
)
(0.9
)
(0.8
)
(0.6
)
Amortization of capitalized interest
0.1

0.1

 
0.3

0.4

0.6

0.6

0.9

Interest expense
18.0

10.0

 
51.7

37.1

33.5

33.4

28.7

Interest portion of rental expense
1.2

1.1

 
4.8

4.4

4.8

4.8

5.2

Earnings
$
155.6

$
119.9

 
$
464.2

$
301.0

$
239.6

$
255.7

$
155.6

 
 
 
 
 
 
 
 
 
Interest
18.0

10.1

 
52.1

37.8

34.6

33.4

30.4

Interest portion of rental expense
1.2

1.1

 
4.8

4.4

4.8

4.8

5.2

Fixed Charges
$
19.2

$
11.2

 
$
56.9

$
42.2

$
39.4

$
38.2

$
35.6

 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
8.10

10.71

 
8.16

7.13

6.08

6.69

4.37