The Timken Company (TKR) 10-Q2009 Q2 Quarterly report

Filed: 5 Aug 09, 12:00am

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New words: African, alternative, arrive, arriving, attain, auditor, bargaining, Bedford, Bilbao, breach, Brno, Cairo, case, cast, classification, conclusion, constitute, correction, customary, Dahlonega, deepened, default, director, District, dramatically, EBITDA, employ, Ernst, extensive, failing, fee, fewer, forced, foresee, found, grace, Greenville, grid, halt, hourly, III, immaterial, Incorporation, independent, JTEKT, Kuensebeck, life, LiYuan, LLP, loose, Maromme, Moult, needle, NRB, occurrence, Olomouc, overstated, past, point, radial, rand, ratified, regulatory, repay, requesting, retained, reversal, roller, satisfaction, seeking, spread, step, stoppage, sucessfully, sustained, Sylvania, tangible, terminal, thrust, uncertainty, understated, waiver, Walhalla, weighted, worth, Young

Removed: American, application, apply, Code, deduction, land, lei, local, relate, restructure, Romanian, state, uncertain

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EXHIBIT 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in thousands, except ratio amounts)


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2009			2008			2009			2008

(Loss) Income before Income Taxes	$	(86,910	)	$	134,505		$	(89,140	)	$	271,095
Share of undistributed losses from 50%-or-less-owned affiliates, excluding affiliates with guaranteed debt		650			(1,554	)		1,273			(1,309	)
Amortization of capitalized interest		842			459			1,323			891
Interest expense		8,491			11,643			16,965			22,641
Interest portion of rental expense		2,186			1,770			4,341			3,652


Earnings	$	(74,741	)	$	146,823		$	(65,238	)	$	296,970


Interest	$	8,834		$	12,475		$	18,171		$	24,368
Interest portion of rental expense		2,186			1,770			4,341			3,652
Interest expense relating to guaranteed debt of 50%-or-less-owned affiliates		-			-			-			-


Fixed Charges	$	11,020		$	14,245		$	22,512		$	28,020


Ratio of Earnings to Fixed Charges		(6.78	)		10.31			(2.90	)		10.60