EX-12 5 tex3312017-ex12.htm EXHIBIT 12 EARNINGS TO FIXED CHARGE Exhibit


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

 
Three Months Ended
March 31,
 
 
2017
 
2016
 
Earnings:
 
 
 
 
Income (loss) from continuing operations before income taxes
$
(88.6
)
 
$
(18.1
)
 
Adjustments:
 
 
 
 
Undistributed (income) loss of less than 50% owned investments
1.1

 
0.4

 
Fixed charges
70.2

 
28.5

 
Earnings (loss)
$
(17.3
)
 
$
10.8

 
Fixed charges:
 
 
 
 
Interest expense, including debt discount amortization
$
20.2

 
$
23.3

 
Amortization/writeoff of debt issuance costs
46.6

 
1.4

 
Portion of rental expense representative of interest factor (assumed to be 33%)
3.4

 
3.8

 
Fixed charges
$
70.2

 
$
28.5

 
Ratio of earnings to fixed charges
—

(1)
—

(1)
Amount of earnings deficiency for coverage of fixed charges
$
87.5

 
$
17.7

 
(1) Less than 1.0x