Terex (TEX) 10-Q2009 Q2 Quarterly report

Filed: 30 Jul 09, 12:00am

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New words: abetting, accreted, accretion, addressed, admitting, advice, ahead, aiding, alert, Arab, assumption, automobile, bankruptcy, bifurcation, catastrophic, Chase, civil, Codification, Committee, complaint, concept, consent, contractual, conversion, core, court, dealing, defend, DeFeo, denying, depressed, discharged, Discretionary, documentation, Emerging, exhibited, falling, family, Force, forced, foundation, goal, independent, Indonesia, injunction, insufficient, issuer, Italian, JPM, language, lay, leaner, legislative, literature, low, mentioned, Morgan, nonauthoritative, nonconvertible, noticeably, par, penalty, prepaid, prepay, prepayment, principle, professional, proposed, recession, refinancing, regularly, reluctant, removing, resolution, Restated, restatement, reversal, Ronald, sequentially, shovel, single, spare, steady, successful, superseded, Task, thereunder, transferor, treatment, unamortized, unchanged, uncollectible, unrecognized

Removed: Attorney, carry, consecutive, copy, dated, earn, enter, European, evidenced, forecast, furnishing, grow, HSBC, jurisdiction, Middle, office, requirement, select, staffing, strength, supporting, temporary, Thailand, trustee, written

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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,
	2009			2008		2009			2008
Earnings:
(Loss) income before income taxes	$	(108.5)		$	353.9	$	(207.0)		$	601.3

Adjustments:
Undistributed (income) loss of less than 50% owned investments		(0.5)			0.3		0.1			(0.6)
Fixed charges		35.5			30.3		65.4			62.0

Earnings	$	(73.5)		$	384.5	$	(141.5)		$	662.7

Fixed charges:
Interest expense, including debt discount amortization	$	25.3		$	24.3	$	48.8		$	49.8
Amortization/writeoff of debt issuance costs		4.5			0.8		5.4			1.6
Portion of rental expense representative of interest factor (assumed to be 33%)		5.7			5.2		11.2			10.6

Fixed charges	$	35.5		$	30.3	$	65.4		$	62.0

Ratio of earnings to fixed charges		-	(1)		12.7x		-	(1)		10.7x

Amount of earnings deficiency for coverage of fixed charges	$	109.0		$	-	$	206.9		$	-

(1) Less than 1.0x

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