* Exhibit filed with this document.
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EXHIBIT 12.1
TEREX CORPORATION
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(amounts in millions)
Three Months Ended Six Months Ended
June 30, June 30,
------------------------- -------------------------
2000 1999 2000 1999
------------ ------------ ----------- -------------
Earnings
Income (loss) before taxes and minority
<S> <C> <C> <C> <C>
interest.............................. $ 38.2 $ 31.1 $ 67.7 $ 57.9
Adjustments:
Minority interest in losses of
consolidated subsidiaries............. --- --- --- ---
Undistributed (income) loss of less
than 50% owned investments............ --- --- --- ---
Distributions from less than 50%
owned investments..................... --- --- --- ---
Fixed charges......................... 27.5 17.2 55.1 31.9
------------ ------------ ----------- ------------
Earnings................................ 65.7 48.3 122.8 89.8
------------ ------------ ----------- ------------
Combined fixed charges, including
preferred accretion
Interest expense, including debt
discount amortization................. 25.7 15.6 51.7 28.9
Accretion of redeemable convertible
preferred stock........................ --- --- --- ---
Amortization/writeoff of debt issuance
costs................................. 0.9 0.5 1.8 1.1
Portion of rental expense
representative of interest factor
(assumed to be 33%)................... 0.9 1.1 1.6 1.9
------------ ------------ ----------- ------------
Fixed charges........................... $ 27.5 $ 17.2 $ 55.1 $ 31.9
------------ ------------ ----------- ------------
Ratio of earnings to combined fixed
charges............................... 2.4x 2.8x 2.2x 2.8x
============ ============ =========== ============
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