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Exhibit 12 - Ratio of Earnings to Fixed Charges
CONVERGYS CORPORATION
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Dividends
(Amounts in millions)
For the Twelve Months Ended | For the Twelve Months Ended | For the Twelve Months Ended | For the Twelve Months Ended | For the Twelve Months Ended | |||||||||||||
12/31/2013 | 12/31/2012 | 12/31/2011 | 12/31/2010 | 12/31/2009 | |||||||||||||
Income (loss) from Continuing Operations, net of tax | $ | 58.5 | $ | 28.2 | $ | 282.5 | $ | (109.8 | ) | $ | 40.9 | ||||||
Income tax expense (benefit) | 72.5 | 1.1 | 106.5 | (7.5 | ) | (1.9 | ) | ||||||||||
Adjustment for undistributed losses/(income) of partnerships, net of distributions | — | — | 10.5 | (11.5 | ) | (1.0 | ) | ||||||||||
Interest expense | 11.5 | 13.6 | 16.1 | 19.5 | 28.9 | ||||||||||||
Portion of rental expense deemed interest | 27.0 | 22.0 | 20.4 | 20.5 | 21.5 | ||||||||||||
Total earnings | $ | 169.5 | $ | 64.9 | $ | 436.0 | $ | (88.8 | ) | $ | 88.4 | ||||||
Fixed Charges: | |||||||||||||||||
Interest expense | $ | 11.5 | $ | 13.6 | $ | 16.1 | $ | 19.5 | $ | 28.9 | |||||||
Portion of rental expense deemed interest | 27.0 | 22.0 | 20.4 | 20.5 | 21.5 | ||||||||||||
Total fixed charges | $ | 38.5 | $ | 35.6 | $ | 36.5 | $ | 40.0 | $ | 50.4 | |||||||
Ratio of Earnings to Fixed Charges | 4.4 | 1.8 | 11.9 | (A) | 1.8 |
(A) Deficiency Ratio - Due to the loss from continuing operations, the Ratio of Earnings to Fixed Charges was less than 1x. To achieve a ratio of 1x, additional total earnings of $128.8 would have been required for the twelve months ended December 31, 2010.