EX-12 2 exhibit12.htm CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES WebFilings | EDGAR view
 

Exhibit 12
    
TEREX CORPORATION
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(amounts in millions)
 
 
 
Three Months Ended
March 31,
 
 
2011
 
 
2010
 
Earnings:
 
 
 
 
 
Income (loss) before income taxes
$
10.2
 
 
 
$
(114.2
)
 
Adjustments:
 
 
 
 
 
Undistributed (income) loss of less than 50% owned investments
0.6
 
 
 
(0.2
)
 
Fixed charges
39.8
 
 
 
42.1
 
 
Earnings
$
50.6
 
 
 
$
(72.3
)
 
Fixed charges:
 
 
 
 
 
Interest expense, including debt discount amortization
$
28.2
 
 
 
$
35.9
 
 
Amortization/writeoff of debt issuance costs
7.9
 
 
 
1.6
 
 
Portion of rental expense representative of interest factor (assumed to be 33%)
3.7
 
 
 
4.6
 
 
Fixed charges
$
39.8
 
 
 
$
42.1
 
 
Ratio of earnings to fixed charges
1.3
 
x
 
—
 
(1)
Amount of earnings deficiency for coverage of fixed charges
$
—
 
 
 
$
114.4
 
 
(1) Less than 1.0x