EX-12 2 hsc-ex12_20121231x10k.htm EX-12
Exhibit 12
HARSCO CORPORATION
Computation of Ratios of Earnings to Fixed Charges

| YEARS ENDED DECEMBER 31
(In thousands) | 2012 |  | 2011 |  | 2010 |  | 2009 |  | 2008
Pre-tax income from continuing operations attributable to Harsco shareholders (a) | $ | (218,442 | ) | (b) | $ | 40,401 |  |  | $ | 15,161 |  |  | $ | 152,347 |  |  | $ | 337,443 |
Add: Consolidated Fixed Charges computed below | 80,073 |  |  | 86,608 |  |  | 97,334 |  |  | 95,180 |  |  | 120,709 |
Net adjustments for unconsolidated entities | (256 | ) |  | (464 | ) |  | (214 | ) |  | (94 | ) |  | (417 | )
Net adjustments for capitalized interest | 128 |  |  | 165 |  |  | 125 |  |  | (572 | ) |  | (277 | )
Consolidated Earnings Available for Fixed Charges (c) | $ | (138,497 | ) | (b) | $ | 126,710 |  |  | $ | 112,406 |  |  | $ | 246,861 |  |  | $ | 457,458 |
Consolidated Fixed Charges: |  |  |  |  |  |  |  |  |
Interest expense per financial statements (d) | $ | 47,381 |  |  | $ | 48,735 |  |  | $ | 60,623 |  |  | $ | 62,746 |  |  | $ | 73,160 |
Interest expense capitalized | 476 |  |  | 250 |  |  | 254 |  |  | 947 |  |  | 552 |
Portion of rentals (1/3) representing a reasonable approximation of the interest factor | 32,216 |  |  | 37,623 |  |  | 36,457 |  |  | 31,487 |  |  | 46,997 |
Consolidated Fixed Charges | $ | 80,073 |  |  | $ | 86,608 |  |  | $ | 97,334 |  |  | $ | 95,180 |  |  | $ | 120,709 |
Consolidated Ratio of Earnings to Fixed Charges | (1.73 | ) | (b) | 1.46 |  |  | 1.15 |  |  | 2.59 |  |  | 3.79 |

(a) | On January 1, 2009, the Company adopted changes issued by the Financial Accounting Standards Board related to consolidation accounting and reporting. These changes, among others, require that minority interests be renamed noncontrolling interests and that a company present a consolidated net income measure that includes the amount attributable to such noncontrolling interests for all periods presented. For the computation above, income attributable to noncontrolling interests have been excluded from pre-tax income.

(b) | In the fourth quarter of 2012, the Company incurred a $265.0 million, pre-tax goodwill impairment charge, or $3.29 per basic and diluted share. Please refer to Note 6, Goodwill and Other Intangible Assets to the Company's consolidated financial statements, under Part II, Item 8, "Financial Statements and Supplementary Data."

(c) | Does not include interest related to uncertain tax position obligations.

(d) | Includes amortization of debt discount.