EX-12 2 tex9302018-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 September 30, |  | Nine Months Ended September 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
Earnings: |  |  |  |  |  |  |
Income (loss) from continuing operations before income taxes | $ | 50.7 |  |  | $ | 56.7 |  |  | $ | 194.5 |  |  | $ | 86.6 |
Adjustments: |  |  |  |  |  |  |
Undistributed (income) loss of less than 50% owned investments | (0.1 | ) |  | (0.5 | ) |  | 0.3 |  |  | 0.2 |
Fixed charges | 21.8 |  |  | 19.5 |  |  | 63.4 |  |  | 114.4 |
Earnings (loss) | $ | 72.4 |  |  | $ | 75.7 |  |  | $ | 258.2 |  |  | $ | 201.2 |
Fixed charges: |  |  |  |  |  |  |
Interest expense, including debt discount amortization | 17.5 |  |  | 14.5 |  |  | $ | 49.7 |  |  | $ | 48.7 |
Amortization of debt issue cost | 1.0 |  |  | 1.0 |  |  | 3.0 |  |  | 3.3 |
Loss on early extinguishment of debt | — |  |  | 0.7 |  |  | 0.7 |  |  | 52.6 |
Portion of rental expense representative of interest factor (assumed to be 33%) | 3.3 |  |  | 3.3 |  |  | 10.0 |  |  | 9.8 |
Fixed charges | $ | 21.8 |  |  | $ | 19.5 |  |  | $ | 63.4 |  |  | $ | 114.4 |
Ratio of earnings to fixed charges | 3.3 |  |  | 3.9 |  |  | 4.1 |  |  | 1.8 |
Amount of earnings deficiency for coverage of fixed charges | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Calculation excluding loss on early extinguishment of debt: |  |  |  |  |  |  |
Ratio of earnings to fixed charges | 3.3 |  |  | 4.0 |  |  | 4.1 |  |  | 2.4 |
Amount of earnings deficiency for coverage of fixed charges | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |