Terex (TEX) 10-Q 2012 Q3 Quarterly report

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,
	2012				2011				2012				2011
Earnings:
Income (loss) before income taxes	$	37.1			$	67.3			$	192.1			$	94.0
Adjustments:
Undistributed (income) loss of less than 50% owned investments	(0.2		)		(1.9		)		(1.9		)		(1.6		)
Fixed charges	101.3				46.6				209.5				120.3
Earnings	$	138.2			$	112.0			$	399.7			$	212.7
Fixed charges:
Interest expense, including debt discount amortization	$	42.6			$	37.1			$	130.0			$	93.2
Amortization/writeoff of debt issuance costs	52.2				3.3				59.6				12.8
Portion of rental expense representative of interest factor (assumed to be 33%)	6.5				6.2				19.9				14.3
Fixed charges	$	101.3			$	46.6			$	209.5			$	120.3
Ratio of earnings to fixed charges	1.4			x	2.4			x	1.9			x	1.8			x
Amount of earnings deficiency for coverage of fixed charges	$	—			$	—			$	—			$	—