EXHIBIT 12
GROVE HOLDINGS LLC
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN THOUSANDS)
PREDECESSOR
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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 $ 35,782 $ 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)..................................... 850 832 535 935 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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COMPANY PRO FORMA
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NINE MONTHS SEVEN MONTHS TWO MONTHS FISCAL YEAR NINE MONTHS
ENDED ENDED ENDED ENDED ENDED
JUNE 28, APRIL 28, JUNE 27, SEPTEMBER 27, JUNE 27,
1997 1998 1998 1997 1998
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Earnings (loss) before income taxes................ $ 45,068 $ 16,109 $ (8,669) $ 26,058 $ (8,218)
Interest expense................................... 1,926 938 7,994 44,318 33,264
Amortization of deferred financing costs........... -- -- 331 2,000 1,500
Portion of rent expense representative of
interest (a)..................................... 978 832 238 1,162 1,070
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Earnings before fixed charges...................... $ 47,972 $ 17,879 $ (106) $ 73,538 $ 27,616
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Fixed charges:
Interest expense................................. $ 1,926 $ 938 $ 7,994 $ 44,318 $ 33,264
Amortization of deferred financing costs........... -- -- 331 2,000 1,500
Portion of rent expense representative of
interest (a)..................................... 978 832 238 1,162 1,070
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Total fixed charges.......................... $ 2,904 $ 1,770 $ 8,563 $ 47,480 $ 35,834
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Ratio of earnings to fixed charges................. 16.5 10.1 (b) 1.5 (c)
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(a) Deemed to be one-third of interest expense
(b) Earnings before fixed charges were insufficient to cover fixed charges by
$8,669 for the two months ended June 27, 1998. Earnings for the two months
June 27, 1998 include non-cash charges of $13,080.
(c) Pro forma earnings before fixed charges were insufficient to cover fixed
charges by $8,218 for the nine months ended June 27, 1998. Earnings for the
nine months June 27, 1998 include non-cash charges of $15,341.