TEREX CORP - FORM 10-K - EX-12 - EXHIBIT 12 CALCULATION OF RATIO OF EARNINGS TO FC - February 22, 2016

Attached files

file filename
EX-32 - EXHIBIT 32 CEO AND CFO CERTFICATION - TEREX CORPtex123115ex-32.htm
EX-21.1 - EXHIBIT 21.1 SUBSIDIARIES OF TEREX CORPORATION - TEREX CORPtex123115ex-211.htm
EX-31.1 - EXHIBIT 31.1 CEO CERTIFICATION - TEREX CORPtex123115ex-311.htm
EX-24.1 - EXHIBIT 24.1 POWER OF ATTORNEY - TEREX CORPtex123115ex-241.htm
EX-31.2 - EXHIBIT 31.2 CFO CERTIFICATION - TEREX CORPtex123115ex-312.htm
EX-23.1 - EXHIBIT 23.1 CONSENT OF INDEPENDANT REGISTERED PUBLIC ACCOUNTING FIRM PWC - TEREX CORPtex123115ex-231.htm
10-K - 10-K TEREX CORPORATION 10-K DECEMBER 31, 2015 - TEREX CORPtex201510-k.htm


EXHIBIT 12

TEREX CORPORATION
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(amounts in millions)
 
Year Ended December 31,
 
2015
 
 
2014
 
 
2013
 
 
2012
 
 
2011
EARNINGS
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations before income taxes
$
226.6

 
 
$
297.2

 
 
$
291.3

 
 
$
126.3

 
 
$
65.6

Adjustments:
 
 
 
 
 
 
 
 
 
 
 
 
 
Undistributed (income) loss of less than 50% owned investments
(5.4
)
 
 
1.0

 
 
(4.2
)
 
 
(2.3
)
 
 
(3.5
)
Fixed charges
136.2

 
 
155.3

 
 
165.2

 
 
283.1

 
 
170.6

Earnings (loss)
$
357.4

 
 
$
453.5

 
 
$
452.3

 
 
$
407.1

 
 
$
232.7

FIXED CHARGES
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense, including debt discount amortization
104.6

 
 
119.1

 
 
126.1

 
 
164.6

 
 
134.9

Amortization/writeoff of debt issuance costs
5.4

 
 
10.0

 
 
13.7

 
 
92.6

 
 
15.8

Portion of rental expense representative of interest factor (assumed to be 33%)
26.2

 
 
26.2

 
 
25.4

 
 
25.9

 
 
19.9

Fixed charges
$
136.2

 
 
$
155.3

 
 
$
165.2

 
 
$
283.1

 
 
$
170.6

RATIO OF EARNINGS TO FIXED CHARGES
2.6

x
 
2.9

x
 
2.7

x
 
1.4

x
 
1.4

AMOUNT OF EARNINGS DEFICIENCY FOR COVERAGE OF FIXED CHARGES
$
—

 
 
$
—

 
 
$
—

 
 
$
—

 
 
$
—





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