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Exhibit 12
AGCO CORPORATION AND SUBSIDIARIES
STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES
(in millions, except ratio data)
Year Ended December 31,
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1997 1996 1995 1994 1993
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Fixed Charges Computation:
Interest expense ........................................... $ 69.1 $ 45.2 $ 73.3 $ 52.7 $ 17.9
Interest component of rent expense (a) ..................... 5.6 5.4 5.0 2.4 1.1
Proportionate share of fixed charges of 50%-owned affiliates 1.8 2.0 2.0 2.1 10.1
Amortization of debt costs ................................. 1.6 1.4 1.6 0.7 -
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Total fixed charges .................................... $ 78.1 $ 54.0 $ 81.9 $ 57.9 $ 29.1
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Earnings Computation:
Pretax earnings ............................................ $245.7 $171.6 $190.6 $102.3 $ 34.1
Fixed charges .............................................. 78.1 54.0 81.9 57.9 29.1
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Total earnings as adjusted ............................. $323.8 $225.6 $272.5 $160.2 $ 63.2
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Ratio of earnings to combined fixed charges ............ 4.2:1 4.2:1 3.3:1 2.8:1 2.2:1
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(a) The interest factor was calculated to be one-third of rental expense and
is considered to be a representative interest factor.