EX-12 2 tex33112-ex12.htm CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES TEX 3.31.12-EX12


Exhibit 12
    
TEREX CORPORATION
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(amounts in millions)

 
Three Months Ended
March 31,
 
 
2012
 
 
2011
 
Earnings:
 
 
 
 
 
Income (loss) before income taxes
$
30.4

 
 
$
10.2

 
Adjustments:
 
 
 
 
 
Undistributed (income) loss of less than 50% owned investments
(0.5
)
 
 
0.6

 
Fixed charges
49.7

 
 
39.8

 
Earnings
$
79.6

 
 
$
50.6

 
Fixed charges:
 
 
 
 
 
Interest expense, including debt discount amortization
$
40.5

 
 
$
28.2

 
Amortization/writeoff of debt issuance costs
2.4

 
 
7.9

 
Portion of rental expense representative of interest factor (assumed to be 33%)
6.8

 
 
3.7

 
Fixed charges
$
49.7

 
 
$
39.8

 
Ratio of earnings to fixed charges
1.6

x
 
1.3

x
Amount of earnings deficiency for coverage of fixed charges
$
—

 
 
$
—