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Exhibit 12.1
CLARK MATERIAL HANDLING
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
Year Ended December 31,
Predecessor basis (in thousands) 9 months ended
7 months 5 months -------------- --------------
1991 7/31/92 12/31/92 1993 1994 1995 9/30/95 9/30/96
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EARNINGS
Income from continuing operations
before taxes and minority interest
(before extraordinary items)........(37,650) NA(2) (4,881) (44,761) (24,469) (17,271) (17,281) (2,880)
Fixed Charges (as calculated below).. 2,734 NA(2) 7,608 20,061 18,861 18,492 13,242 14,301
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Earnings.......................(34,916) -- 2,727 (24,700) (5,608) 1,221 (4,039) 11,421
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COMBINED FIXED CHARGES
Interest expense, including debt
discount amortization
Third Party....................... 1,660 NA(2) 356 1,169 2,221 790 680 278
On Allocated Debt................. -- NA(2) 6,395 16,756 14,361 16,145 11,365 13,175
Amortization of debt issuance costs.. -- NA(2) 420 1,004 822 530 417 338
Portion of rental expense
representative of interest factor
(assumed to be 33%)................. 1,074 NA(2) 437 1,132 1,457 1,027 780 510
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Fixed charges.................. 2,734 -- 7,608 20,061 18,861 18,492 13,242 14,301
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RATIO OF EARNINGS TO COMBINED
FIXED CHARGES (1)................... -- -- -- -- -- -- -- --
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AMOUNT OF EARNINGS DEFICIENCY FOR
COVERAGE OF COMBINED FIXED CHARGES... 37,650 -- 4,881 44,761 24,469 17,271 17,281 2,880
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(1) Earnings are inadequate to cover fixed charges.
(2) The Company was included as part of Clark Equipment Company's consolidated
financial statements prior to August 1, 1992. The financial data as of and
for the seven months ended July 31, 1992, are not presently available to the
Company. The Company has requested such data and amount from Clark Equipment
Company, but has not been provided with the requested information.