Exhibit 12
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HARSCO CORPORATION
Computation of Ratios of Earnings to Fixed Charges
(Dollars in Thousands)
YEARS ENDED DECEMBER 31
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2006 2005 2004 2003 2002
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Pre-tax income from continuing
operations (net of minority
interest in net income) $ 294,032 $ 221,521 $ 162,574 $ 128,707 $ 130,650
Add fixed charges computed below 94,109 66,690 65,978 61,520 64,424
Net adjustments for equity
companies (192) 96 461 1,062 (219)
Net adjustments for capitalized
interest (1,114) (567) (124) 14 121
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Consolidated Earnings Available
for Fixed Charges $ 386,835 $ 287,740 $ 228,889 $ 191,303 $ 194,976
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Consolidated Fixed Charges:
Interest expense per financial
statements (a) $ 60,478 $ 41,918 $ 41,057 $ 40,513 $ 43,323
Interest expense capitalized 1,325 677 251 101 --
Portion of rentals (1/3) representing
a reasonable approximation of
the interest factor 32,306 24,095 24,670 20,906 20,972
Interest expense for equity
companies whose debt is
guaranteed -- -- -- -- 129
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Consolidated Fixed Charges $ 94,109 $ 66,690 $ 65,978 $ 61,520 $ 64,424
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Consolidated Ratio of Earnings to
Fixed Charges 4.11 4.31 3.47 3.11 3.03
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(a) Includes amortization of debt discount and expense.