The Timken Company (TKR) 10-Q 2013 Q3 Quarterly report

EXHIBIT 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions, except ratio amounts)

	Nine Months Ended September 30,						Years Ended December 31,
	2013			2012			2012		2011		2010			2009			2008
Income (loss) from continuing operations before tax	$	327.6		$	661.5		$	766.0	$	696.8	$	405.5		$	(94.2	)	$	439.6
Share of undistributed (losses) income from 50%-or-less-owned affiliates, excluding affiliates with guaranteed debt	$	(0.4	)	$	(0.3	)	$	0.5	$	0.5	$	(0.2	)	$	0.9		$	(1.4	)
Amortization of capitalized interest	1.5			1.5			2.0		2.0		2.0			1.9			1.8
Interest expense	17.5			24.0			31.1		36.8		38.2			41.9			44.4
Interest portion of rental expense	6.0			6.4			8.5		7.2		8.0			8.5			8.7
Earnings (loss)	$	352.2		$	693.1		$	808.1	$	743.3	$	453.5		$	(41.0	)	$	493.1
Interest	$	26.1		$	26.9		$	36.0	$	38.0	$	38.9		$	43.7		$	47.4
Interest portion of rental expense	6.0			6.4			8.5		7.2		8.0			8.5			8.7
Fixed Charges	$	32.1		$	33.3		$	44.5	$	45.2	$	46.9		$	52.2		$	56.1
Ratio of Earnings to Fixed Charges	10.97			20.81			18.16		16.44		9.67			(0.79		)	8.79