Exhibit 12.1
Grove Holdings LLC
Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands)
Fiscal Year Ended
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October 2, October 1, September 30, September 28, September 27,
1993 1994 1995 1996 1997
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Earnings (loss) before income taxes $6,168 $4,203 $36,782 $47,636 $68,469
Interest expense 2,771 3,170 2,614 3,326 2,042
Amortization of deferred
financing costs - - - - -
Portion of rent expense
representative of interest (a) 850 832 535 935 1,162
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Earnings before fixed charges $9,789 $8,205 $38,931 $51,897 $71,673
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Fixed charges:
Interest expense $2,771 $3,170 $ 2,614 $ 3,326 $ 2,042
Amortization of deferred
financing costs - - - - -
Portion of rent expense
representative of interest (a) 850 832 536 935 1,162
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Total fixed charges $3,621 $4,002 $ 3,149 $ 4,261 $ 3,204
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Ratio of earnings to fixed charges 2.7 2.1 12.4 12.2 22.4
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Pro forma
Six Months Ended ----------------------------------
--------------------- Fiscal Year Ended Six Months
March 27, March 28, September 27, Ended March 28,
1997 1998 1997 1998
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Earnings (loss) before income taxes $27,956 $14,422 $26,836 $(9,848)
Interest expense 1,449 1,779 46,018 22,784
Amortization of deferred
financing costs - - 1,700 850
Portion of rent expense
representative of interest (a) 663 772 1,162 772
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Earnings before fixed charges $30,068 $16,973 $75,716 $14,568
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Fixed charges:
Interest expense $ 1,449 $ 1,799 $46,018 $22,784
Amortization of deferred
financing costs - - 1,700 850
Portion of rent expense
representative of interest (a) 663 772 1,162 772
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Total fixed charges $ 2,112 $ 2,551 $48,880 $24,406
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Ratio of earnings to fixed charges 14.2 6.7 1.5 (b)
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(a) Deemed to be one-third of interest expense
(b) Pro forma earnings before fixed charges were insufficient to cover fixed
charges by $7,681 for the six months ended March 28, 1996. Earnings for the
six months March 28, 1996 include non-cash charges of $9,023.
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