Attached files
| file | filename |
|---|---|
| EX-32.2 - EX-32.2 - MANITOWOC CO INC | mtw-ex322_12.htm |
| EX-32.1 - EX-32.1 - MANITOWOC CO INC | mtw-ex321_6.htm |
| EX-31 - EX-31 - MANITOWOC CO INC | mtw-ex31_7.htm |
| EX-23 - EX-23 - MANITOWOC CO INC | mtw-ex23_10.htm |
| EX-21 - EX-21 - MANITOWOC CO INC | mtw-ex21_8.htm |
| EX-10.26 - EX-10.26 - MANITOWOC CO INC | mtw-ex1026_610.htm |
| EX-10.25 - EX-10.25 - MANITOWOC CO INC | mtw-ex1025_195.htm |
| EX-10.4 - EX-10.4 - MANITOWOC CO INC | mtw-ex104_277.htm |
| 10-K - 10-K - MANITOWOC CO INC | mtw-10k_20171231.htm |
Exhibit 12
The Manitowoc Company, Inc.
Statement of Computation of Ratio of Earnings to Fixed Charges
(in millions, except ratio data)
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For the Year Ended December 31, |
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2017 |
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2016 |
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2015 |
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2014 |
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2013 |
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(Loss) income from continuing operations before taxes (1) |
|
$ |
(39.5 |
) |
|
$ |
(268.1 |
) |
|
$ |
(111.0 |
) |
|
$ |
(20.4 |
) |
|
$ |
13.8 |
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Fixed charges |
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|
48.1 |
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|
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49.9 |
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|
|
109.1 |
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|
108.5 |
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|
|
145.3 |
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Total (loss) income available for fixed charges |
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$ |
8.6 |
|
|
$ |
(218.2 |
) |
|
$ |
(1.9 |
) |
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$ |
88.1 |
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|
$ |
159.1 |
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Fixed charges: |
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Interest expense |
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$ |
39.2 |
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$ |
39.6 |
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$ |
95.6 |
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$ |
92.8 |
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$ |
127.4 |
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Amortization of deferred financing fees |
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1.9 |
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2.2 |
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4.2 |
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4.4 |
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7.0 |
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Portion of rent deemed interest factor (2) |
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7.0 |
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8.1 |
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9.3 |
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11.3 |
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10.9 |
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Total fixed charges |
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$ |
48.1 |
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|
$ |
49.9 |
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|
$ |
109.1 |
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$ |
108.5 |
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$ |
145.3 |
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Ratio of (loss) income to fixed charges |
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* |
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** |
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*** |
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**** |
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1.1x |
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Notes for explanations:
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(1) |
2016 and 2015 amounts include the impact of non-cash impairment changes of $96.9 million and $15.3 million, respectively. |
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(2) |
One-third of all rent expense is deemed representative of the interest factor. |
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* |
The ratio coverage for the year ended December 31, 2017 was less than 1:1. The Company would have needed to generate additional earnings of $39.5 million to achieve a ratio coverage of 1:1 for the year ended December 31, 2017. |
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** |
The ratio coverage for the year ended December 31, 2016 was less than 1:1. The Company would have needed to generate additional earnings of $268.1 million to achieve a ratio coverage of 1:1 for the year ended December 31, 2016. |
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*** |
The ratio coverage for the year ended December 31, 2015 was less than 1:1. The Company would have needed to generate additional earnings of $111.0 million to achieve a ratio coverage of 1:1 for the year ended December 31, 2015. |
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**** |
The ratio coverage for the year ended December 31, 2014 was less than 1:1. The Company would have needed to generate additional earnings of $20.4 million to achieve a ratio coverage of 1:1 for the year ended December 31, 2014. |