EX-12 5 exh12_14195.htm COMPUTATION OF RATIOS OF EARNINGS WWW.EXFILE.COM, INC. -- 14195 -- HARSCO CORPORATION -- EXHIBIT 12 TO FORM 10-K
EXHIBIT 12

HARSCO CORPORATION

Computation of Ratios of Earnings to Fixed Charges

(Dollars in Thousands)


   
YEARS ENDED DECEMBER 31
  
   
2005
  
2004
  
2003
  
2002
  
2001
  
Pre-tax income from continuing operations (net of minority interest in net income)
  
$
221,521
  
$
162,574
  
$
128,707
  
$
130,650
  
$
113,195
  
                                 
Add fixed charges computed below
    
66,690
    
65,978
    
61,520
    
64,424
    
72,265
  
                                 
Net adjustments for equity companies
    
96
    
461
    
1,062
    
(219
)
  
2,747
  
                                 
Net adjustments for capitalized interest
    
(567
)
  
(124
)
  
14
    
121
    
152
  
                                 
Consolidated Earnings Available for Fixed Charges
  
$
287,740
  
$
228,889
  
$
191,303
  
$
194,976
  
$
188,359
  
                                 
Consolidated Fixed Charges:
                                
                                 
Interest expense per financial statements (a)
  
$
41,918
  
$
41,057
  
$
40,513
  
$
43,323
  
$
53,190
  
                                 
Interest expense capitalized
    
677
    
251
    
101
    
-
    
-
  
                                 
Portion of rentals (1/3) representing an interest factor
    
24,095
    
24,670
    
20,906
    
20,972
    
19,075
  
                                 
Interest expense for equity companies whose debt is guaranteed
   
—
    
—
    
—
    
129
    
—
  
                                 
Consolidated Fixed Charges
  
$
66,690
  
$
65,978
  
$
61,520
  
$
64,424
  
$
72,265
  
                                 
Consolidated Ratio of Earnings to Fixed Charges
    
4.31
    
3.47
    
3.11
    
3.03
    
2.61
  

(a)
Includes amortization of debt discount and expense.