EX-12.1 3 l37508exv12w1.htm EX-12.1 exv12w1
Exhibit 12.1
The Timken Company
Computation of Ratio of Earnings to Fixed Charges
(Dollars in thousands)
                                                 
    Six                                
    Months Ended     Year Ended December 31,  
    June 30, 2009     2008     2007     2006     2005     2004  
Income (loss) from continuing operations before tax
  $ (89,140 )   $ 425,596     $ 282,257     $ 254,234     $ 346,538     $ 199,779  
Share of undistributed losses from 50%-or-less owned affiliates, excluding affiliates with guaranteed debt
    1,273       (1,418 )     1,320       5,696       4,762       5,462  
Amortization of capitalized interest
    1,323       1,839       1,406       1,228       1,204       1,352  
Interest expense
    16,965       44,934       42,684       49,387       51,585       50,834  
Interest portion of rental expense
    4,341       9,006       7,854       5,289       3,640       1,866  
 
                                   
Earnings
  $ (65,238 )   $ 479,957     $ 335,521     $ 315,834     $ 407,729     $ 259,293  
 
                                   
 
                                               
Interest
  $ 18,171     $ 47,888     $ 48,384     $ 52,668     $ 52,205     $ 51,375  
Interest portion of rental expense
    4,341       9,006       7,854       5,289       3,640       1,866  
Interest expense relating to guaranteed debt of 50%-or-less owned affiliates
                                  106  
 
                                   
Fixed Charges
  $ 22,512     $ 56,894     $ 56,238     $ 57,957     $ 55,845     $ 53,347  
 
                                   
 
                                               
Ratio of Earnings to Fixed Charges (1)
          8.44       5.97       5.45       7.30       4.86  
 
                                   
 
(1)   Earnings were insufficient to cover fixed charges by approximately $87.8 million for the six months ended June 30, 2009; accordingly, no ratio is presented for such period.