EX-12 2 tkr123114exhibit12.htm EXHIBIT 12 TKR 12.31.14 Exhibit 12
EXHIBIT 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions, except ratio amounts)


 
 
Twelve Months Ended December 31,
 
 
2014
2013
2012
2011
2010
Income (loss) from continuing operations before tax
 
$
204.0

$
290.1

$
517.8

$
431.4

$
267.1

 
 
 
 
 
 
 
Share of undistributed (losses) income from 50%-or-less-owned affiliates, excluding affiliates with guaranteed debt
 
$
(0.6
)
$
(0.4
)
$
0.5

$
0.5

$
(0.2
)
Amortization of capitalized interest
 
0.9

(1.3
)
(1.3
)
(1.4
)
(1.4
)
Interest expense
 
28.7

24.4

31.1

36.8

38.2

Interest portion of rental expense
 
5.2

8.0

8.0

7.6

6.4

Earnings (loss)
 
$
238.2

$
320.8

$
556.1

$
474.9

$
310.1

 
 
 
 
 
 
 
Interest
 
$
30.4

$
37.1

$
36.0

$
36.8

$
38.2

Interest portion of rental expense
 
5.2

8.0

8.0

7.6

6.4

Fixed Charges
 
$
35.6

$
45.1

$
44.0

$
44.4

$
44.6

 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
6.69

7.11

12.64

10.70

6.95