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New words:
add, air, assumed, Australia, automatically, Baker, Barbara, buyer, certiorari, clarify, Clarifying, clawback, clearance, consummate, consummated, coupled, Craig, customary, dividend, efficiency, explore, extent, Ferro, Jeffrey, JV, Kevin, Larry, leveraging, LTDA, Machinery, McClure, mechanical, move, mutual, Nanjing, Novak, Nowlan, Ott, Pedro, practicable, prospectively, Randon, Realignment, reassigned, reclassification, reclassified, role, Scope, seller, single, stake, subleasing, substantive, supersede, template, tender, Vernon, waiting, writ, Wuxi, XCMG, XMAL, Xuzhou
Removed:
executed, flat, improved, noted
Filing tables
Filing exhibits
- 10-Q Quarterly report
- 10 Employment Agreement Between Meritor, Inc. and Charles Mcclure Dated May 1, 2013
- 10 Employment Agreement Between Meritor, Inc. & Vernon Baker, II Dated May 1, 2013
- 10 Employment Agreement Between Meritor, Inc. and Jay Craig Dated May 1, 2013
- 10 Employment Agreement Between Meritor, Inc. and Pedro Ferro Dated May 1, 2013
- 10 Employment Agreement Between Meritor, Inc. and Barbara Novak Dated May 1, 2013
- 10 Employment Agreement Between Meritor, Inc. and Kevin Nowlan Dated May 1, 2013
- 10 Employment Agreement Between Meritor, Inc. and Larry Ott Dated May 1, 2013
- 10 Purchase and Sale Agreement Dated As of April 29, 2013 (Suspensys)
- 12 Computation of Ratio of Earnings to Fixed Charges
- 23 Consent of Bates White LLC
- 31 Certification of the Chief Executive Officer
- 31 Certification of the Chief Financial Officer
- 32 Certification of the Chief Executive Officer
- 32 Certification of the Chief Financial Officer
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Exhibit 12
Meritor, Inc.
Computation of Ratio of Earnings to Fixed Charges
Six Months Ended March 31, 2013
(Amounts in millions, except the ratio)
Earnings Available for Fixed Charges (A): | |||||
Pre-tax loss from continuing operations | $ | (3 | ) | ||
Less: | |||||
Equity in earnings of affiliates, net of dividends | (12 | ) | |||
(9 | ) | ||||
Add: fixed charges included in earnings: | |||||
Interest expense | 43 | ||||
Interest element of rentals | 2 | ||||
Total | 45 | ||||
Total earnings available for fixed charges: | $ | 36 | |||
Fixed Charges (B): | |||||
Fixed charges included in earnings | $ | 45 | |||
Capitalized interest | — | ||||
Total fixed charges | $ | 45 | |||
Ratio of Earnings to Fixed Charges (C) | 0.80 |
(A) “Earnings” are defined as pre-tax income from continuing operations, adjusted for undistributed earnings of less than majority owned subsidiaries and fixed charges excluding capitalized interest.
(B) “Fixed charges” are defined as interest on borrowings (whether expensed or capitalized), the portion of rental expense applicable to interest, and amortization of debt issuance costs.
(C) For fiscal year 2013, the Company would need to generate additional pretax earnings of $9 million to achieve coverage of 1:1.