EX-12 3 exh12_14943.txt COMPUTATION OF EARNINGS Exhibit 12 ----------
HARSCO CORPORATION Computation of Ratios of Earnings to Fixed Charges (Dollars in Thousands) YEARS ENDED DECEMBER 31 ----------------------------------------------------------------- 2006 2005 2004 2003 2002 ---------- ---------- ---------- ---------- ---------- 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 ---------- ---------- ---------- ---------- ---------- Consolidated Earnings Available for Fixed Charges $ 386,835 $ 287,740 $ 228,889 $ 191,303 $ 194,976 ========== ========== ========== ========== ========== 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 ---------- ---------- ---------- ---------- ---------- Consolidated Fixed Charges $ 94,109 $ 66,690 $ 65,978 $ 61,520 $ 64,424 ========== ========== ========== ========== ========== Consolidated Ratio of Earnings to Fixed Charges 4.11 4.31 3.47 3.11 3.03 ========== ========== ========== ========== ==========
(a) Includes amortization of debt discount and expense.