EX-12 2 tex6302018-ex12.htm EXHIBIT 12 EARNINGS TO FIXED CHARGES RATIO
Exhibit 12
TEREX CORPORATION
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(amounts in millions)

| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
Earnings: |  |  |  |  |  |  |
Income (loss) from continuing operations before income taxes | $ | 84.8 |  |  | $ | 118.5 |  |  | $ | 143.8 |  |  | $ | 29.9 |
Adjustments: |  |  |  |  |  |  |
Undistributed (income) loss of less than 50% owned investments | (0.1 | ) |  | (0.4 | ) |  | 0.4 |  |  | 0.7 |
Fixed charges | 21.6 |  |  | 24.7 |  |  | 41.6 |  |  | 94.9 |
Earnings (loss) | $ | 106.3 |  |  | $ | 142.8 |  |  | $ | 185.8 |  |  | $ | 125.5 |
Fixed charges: |  |  |  |  |  |  |
Interest expense, including debt discount amortization | 17.2 |  |  | 14.0 |  |  | $ | 32.2 |  |  | $ | 34.2 |
Amortization of debt issue cost | 1.0 |  |  | 1.1 |  |  | 2.0 |  |  | 2.3 |
Loss on early extinguishment of debt | — |  |  | 6.5 |  |  | 0.7 |  |  | 51.9 |
Portion of rental expense representative of interest factor (assumed to be 33%) | 3.4 |  |  | 3.1 |  |  | 6.7 |  |  | 6.5 |
Fixed charges | $ | 21.6 |  |  | $ | 24.7 |  |  | $ | 41.6 |  |  | $ | 94.9 |
Ratio of earnings to fixed charges | 4.9 |  |  | 5.8 |  |  | 4.5 |  |  | 1.3 |
Amount of earnings deficiency for coverage of fixed charges | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Calculation excluding loss on early extinguishment of debt: |  |  |  |  |  |  |
Ratio of earnings to fixed charges | 4.9 |  |  | 7.5 |  |  | 4.5 |  |  | 1.7 |
Amount of earnings deficiency for coverage of fixed charges | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |