EX-12 22 exh12ratioofearningstofixe.htm EXHIBIT 12 Exhibit


Exhibit 12
Trinity Industries, Inc. and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
 
 
For the year ended December 31,
 
2016
 
2015
 
2014
 
2013
 
2012
 
($ in millions)
Earnings:
 
 
 
 
 
 
 
 
 
Earnings before income taxes
$
566.8

 
$
1,252.0

 
$
1,064.1

 
$
590.5

 
$
385.9

Add:
 
 
 
 
 
 
 
 
 
Fixed charges
206.2

 
219.9

 
221.4

 
212.3

 
216.6

Amortization of capitalized interest
0.1

 
0.1

 
0.1

 
0.2

 
0.2

Total earnings before income taxes
$
773.1

 
$
1,472.0

 
$
1,285.6

 
$
803.0

 
$
602.7

 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
Interest expense
$
181.9

 
$
194.7

 
$
193.4

 
$
187.3

 
$
194.7

Portion of rental expense representative of interest
24.3

 
25.2

 
28.0

 
25.0

 
21.9

 
206.2

 
219.9

 
221.4

 
212.3

 
216.6

Capitalized interest
—

 
—

 
—

 
—

 
—

Total Fixed Charges
$
206.2

 
$
219.9

 
$
221.4

 
$
212.3

 
$
216.6

 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
3.75

 
6.69

 
5.81

 
3.78

 
2.78