EX-12.A 4 ex12a.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES ex12a.htm

 
Exhibit 12(a)
 

 
Tennant
Computation of Ratio of Earnings to Fixed Charges
(Amounts in thousands of dollars)
                     
                     
   
 
 Year ended December 31,
  
  Nine months ended
September 30,
 
Ratio of Earnings to Fixed Charges
2007
2008
2009
2010
2011
  
2011
  
2012
                     
 
Profit (loss) before income taxes
$57,712
$17,575
($24,320)
$34,727
$48,730
  
$33,071
  
$41,262
                     
 
Fixed Charges:
                  
 
Interest expense
          898
       3,944
       2,830
       1,619
       2,238
  
               1,614
  
               2,021
 
Amortization of debt expense
            21
            55
          267
          318
          660
  
                  569
  
                  158
 
Interest component of rental expense (estimated)
       4,549
       4,980
       4,936
       5,405
       5,792
  
               4,322
  
               4,345
 
     Total Fixed Charges
       5,468
       8,979
       8,033
       7,342
       8,690
  
               6,505
  
               6,524
                     
 
Profit (loss) before income taxes plus fixed charges
$63,180
$26,554
($16,287)
$42,069
$57,420
  
$39,576
  
$47,786
                     
 
     Ratio of Earnings to Fixed Charges
         11.6
           3.0
 (A)
           5.7
           6.6
  
                   6.1
  
                   7.3
                     
                     
 
(A) For the year ended December 31, 2009, earnings were inadequate to cover fixed charges. The deficiency of $24.3 million was due to a net loss of $26.3 million recorded in that year, which included a non-cash goodwill impairment charge.