MERITOR, INC. - FORM 10-Q - EX-12 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - July 31, 2014

Attached files

file filename
EX-32.B - CERTIFICATION OF THE CHIEF FINANCIAL OFFICER - MERITOR, INC.exhibit32-b.htm
EX-31.A - CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER - MERITOR, INC.exhibit31-a.htm
EX-23 - CONSENT OF BATES WHITE LLC - MERITOR, INC.exhibit23.htm
EX-10.B - AMENDMENT NO. 2 DATED SEPTEMBER 28, 2011 TO THE RECEIVABLES PURCHASE AGREEMENT - MERITOR, INC.exhibit10-b.htm
EX-32.A - CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER - MERITOR, INC.exhibit32-a.htm
EX-10.A - EXTENSION LETTER DATED JUNE 27, 2014 RELATING TO RECEIVABLES PURCHASE AGREEMENT - MERITOR, INC.exhibit10-a.htm
EXCEL - IDEA: XBRL DOCUMENT - MERITOR, INC.Financial_Report.xls
10-Q - QUARTERLY REPORT - MERITOR, INC.meritor_10q.htm
EX-31.B - CERTIFICATION OF THE CHIEF FINANCIAL OFFICER - MERITOR, INC.exhibit31-b.htm
EX-10.B-1 - AMENDMENT NO. 5 DATED JUNE 27, 2014 TO THE RECEIVABLES PURCHASE AGREEMENT - MERITOR, INC.exhibit10-b1.htm

Exhibit 12


Meritor, Inc.
Computation of Ratio of Earnings to Fixed Charges
Nine Months Ended June 30, 2014
(Amounts in millions, except the ratio)


 
Earnings Available for Fixed Charges (A):
 
 
 
 
 
 
 
 
 
Pre-tax income from continuing operations
 
$
279

 
 
 
 
 
 
Less:
 
 
 
 
Equity in earnings of affiliates, net of dividends
 
 
(190
)
 
 
 
 
89

 
Add: fixed charges included in earnings:
 
 
 
 
Interest expense
 
 
71

 
Interest element of rentals
 
 
2

 
Total
 
 
73

 
 
 
 
 
 
Total earnings available for fixed charges:
 
$
162

 
 
 
 
 
 
Fixed Charges (B):
 
 
 
 
Fixed charges included in earnings
 
$
73

 
Capitalized interest
 
 
—

 
Total fixed charges
 
$
73

 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
 
2.22

 

(A) “Earnings” are defined as pre-tax income from continuing operations, adjusted for undistributed earnings of less than majority owned subsidiaries and fixed charges excluding capitalized interest.

(B) “Fixed charges” are defined as interest on borrowings (whether expensed or capitalized), the portion of rental expense applicable to interest, and amortization of debt issuance costs.





MERITOR, INC. Reports