MMH Holdings, Inc.
Statement of Computation of Financial Ratios
(In thousands, except for ratios)
Fiscal Year Ended October 31, For the Quarter Ended January 31,
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Pro Forma Pro Forma
1993 1994 1995 1996 1997 1997 1997 1998 1998
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(unaudited) (unaudited) (unaudited) (unaudited)
Ratio of earnings to fixed charges and
preferred dividends(1):
Income (loss) before income taxes
and minority interest N/A N/A $21,901 $29,934 $34,745 $ 9,896 $ 6,690 $ 4,112 $(2,124)
Add:
Interest Expense N/A N/A 200 245 792 26,503 48 845 6,684
Rental Expense N/A N/A 786 1,109 1,456 1,456 277 364 364
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Earnings (loss) adjusted for fixed charges N/A N/A 22,887 31,288 36,993 37,855 7,015 5,321 4,924
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Fixed Charges
Interest Expense N/A N/A 200 245 792 26,503 48 845 6,684
Rental Expense N/A N/A 786 1,109 1,456 1,456 277 364 364
Preferred Dividend Requirements N/A N/A -- -- -- 19,100 -- -- 5,215
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Total fixed charges N/A N/A 986 1,354 2,248 47,059 325 1,209 12,263
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Ratio of earnings to fixed charges and
preferred dividends N/A N/A 23.21 23.11 16.46 -- 21.58 4.40 --
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Deficiency of earnings to fixed charges
and preferred dividends N/A N/A -- -- -- $(9,204) -- -- $(7,339)
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(1) For purposes of calculating the ratio of earnings to fixed charges and
preferred dividends, earnings are defined as net income before income
taxes and minority interest plus interest expense (including amortization
of debt issuance costs), and the portion of rental expense that is
representative of the interest factor (deemed to be one third of annual
rent expense). Preferred dividends, for purposes of the ratio, reflect
earnings before tax required to pay preferred stock dividends and assume
that such dividends are paid in kind.