EX-12 2 tex3312018-ex12.htm EXHIBIT 12 CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
Exhibit 12
TEREX CORPORATION
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(amounts in millions)

| Three Months Ended March 31, |
| 2018 |  |  | 2017 |
Earnings: |  |  |  |  |
Income (loss) from continuing operations before income taxes | $ | 59.0 |  |  |  | $ | (88.6 | ) |
Adjustments: |  |  |  |  |
Undistributed (income) loss of less than 50% owned investments | 0.5 |  |  |  | 1.1 |  |
Fixed charges | 20.0 |  |  |  | 70.2 |  |
Earnings (loss) | $ | 79.5 |  |  |  | $ | (17.3 | ) |
Fixed charges: |  |  |  |  |
Interest expense, including debt discount amortization | $ | 15.0 |  |  |  | $ | 20.2 |  |
Amortization of debt issue cost | 1.0 |  |  |  | 1.2 |  |
Loss on early extinguishment of debt | 0.7 |  |  |  | 45.4 |  |
Portion of rental expense representative of interest factor (assumed to be 33%) | 3.3 |  |  |  | 3.4 |  |
Fixed charges | $ | 20.0 |  |  |  | $ | 70.2 |  |
Ratio of earnings to fixed charges | 4.0 |  | x |  | — |  | (1)
Amount of earnings deficiency for coverage of fixed charges | $ | — |  |  |  | $ | 87.5 |  |
(1) less than 1.0x |  |  |  |  |
Calculation excluding loss on early extinguishment of debt: |  |  |  |  |
Ratio of earnings to fixed charges | 4.1 |  | x |  | — |  | (1)
Amount of earnings deficiency for coverage of fixed charges | $ | — |  |  |  | $ | 87.5 |  |
(1) less than 1.0x |  |  |  |  |