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FORM 10-Q/A
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 1998
Commission file number 1-924
Aeroquip-Vickers, Inc.
(Exact name of registrant as specified in its charter)
Ohio 34-4288310
(State of Incorporation) (I.R.S. Employer
Identification No.)
3000 Strayer, Maumee, OH 43537-0050
(Address of principal executive office)
Registrant's telephone number, including area code: (419) 867-2200
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months, and (2) has been subject to such filing
requirements for the past 90 days. Yes X No
The number of Common Shares, $5 Par Value, outstanding as of October 23, 1998,
was 27,730,520.
This document, including exhibits, contains 5 pages.
The Exhibit Index is located on page 4.
<PAGE>
Item 6. Exhibits and Reports on Form 8-K
(a) The following exhibit is filed hereunder as part of Part I:
Exhibit (12) Statement re: Computation of Ratios
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<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Aeroquip-Vickers, Inc.
By /S/ DARRYL F. ALLEN
--------------------------------------
November 12, 1998 Darryl F. Allen
Chairman, President and
Chief Executive Officer
(Principal Executive Officer)
By /S/ DAVID M. RISLEY
--------------------------------------
November 12, 1998 David M. Risley
Vice President - Finance and
Chief Financial Officer
(Principal Financial Officer)
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_______________________________
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EXHIBIT INDEX
Exhibit No. Page No.
(12) Statement re: Computation of Ratios 5
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EXHIBIT 12
<TABLE>
STATEMENT RE: COMPUTATION OF RATIOS
Aeroquip-Vickers, Inc.
(Dollars in thousands)
<CAPTION>
Nine Months
Ended Year Ended December 31
September 30 -----------------------------------------
1998 1997 1996 1995 1994 1993
------------ ---- ---- ---- ---- ----
<S> <C> <C> <C> <C> <C> <C>
RATIO OF EARNINGS TO FIXED
CHARGES
Income before income taxes and
cumulative effect of accounting
change $136,645 $148,153 $153,421 $128,196 $101,255 $ 17,111
Dividends received, net of equity
in earnings (loss) of
unconsolidated affiliates 746 1,605 9,961 (3,704) 1,213 1
Fixed charges 34,647 46,034 41,712 31,762 30,249 33,370
-------- -------- -------- -------- -------- --------
Income before cumulative effect
of accounting change for
computation purposes $172,038 $195,792 $205,094 $156,254 $132,717 $ 50,482
======== ======== ======== ======== ======== ========
FIXED CHARGES
Interest expense, including
interest related to corporate-
owned life insurance $ 26,604 $ 37,971 $ 34,963 $ 24,477 $ 22,582 $ 25,516
Portion of rent expense
representing interest 5,383 6,819 6,288 6,903 7,303 7,490
Amortization of debt expense
and debt discount 2,660 1,244 461 382 364 364
-------- -------- -------- -------- -------- --------
Total fixed charges $ 34,647 $ 46,034 $ 41,712 $ 31,762 $ 30,249 $ 33,370
======== ======== ======== ======== ======== ========
Ratio of Earnings to
Fixed Charges 5.0x 4.3x 4.9x 4.9x 4.4x 1.5x
======== ======== ======== ======== ======== ========
<FN>
For the purpose of computing the ratio of earnings to fixed charges,
"earnings" consist of income before income taxes and cumulative effect of
accounting change, plus fixed charges and dividends received, net of equity in
earnings (loss) of unconsolidated affiliates. Fixed charges consist of
interest expense, the portion of rent expense representing interest and
amortization of debt discount.
</FN>
</TABLE>
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