EX-12 15 w63597exv12.txt STATEMENT REGARDING COMPUATION OF RATIOS EXHIBIT 12 JLG INDUSTRIES, INC. CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES (IN THOUSANDS)
NINE MONTHS ENDED YEAR ENDED JULY 31, APRIL 30, ----------------------------------------------------- ------------------- 1997 1998 1999 2000 2001 2001 2002 ------- ------- ------- --------- -------- -------- -------- EARNINGS Net income $46,148 $46,510 $61,271 $60,507 $34,206 $28,565 $4,536 Income tax provision 25,090 23,960 29,745 35,536 20,091 16,776 2,235 -------- -------- -------- --------- -------- -------- -------- Earnings 71,238 70,470 91,016 96,043 54,297 45,341 6,771 -------- -------- -------- --------- -------- -------- -------- FIXED CHARGES Interest expense 362 254 1,772 21,169 22,195 16,443 11,710 Portion of rental expense representative of interest factor 776 701 705 1,113 2,082 1,625 2,295 -------- -------- -------- --------- -------- -------- -------- Fixed charges 1,138 955 2,477 22,282 24,277 18,068 14,005 -------- -------- -------- --------- -------- -------- -------- CAPITALIZED INTEREST -- -- -- (580) -- -- -- -------- -------- -------- --------- -------- -------- -------- EARNINGS BEFORE INCOME TAX PROVISION AND FIXED CHARGES $72,376 $71,425 $93,493 $117,745 $78,574 $63,409 $20,776 ======== ======== ======== ========= ======== ======== ======== RATIO OF EARNINGS TO FIXED CHARGES 63.6x 74.8x 37.7x 5.3x 3.2x 3.5x 1.5x ======== ======== ======== ========= ======== ======== ========