EX-12.(A) 4 dex12a.htm STATEMENT RE COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Statement re computation of ratios of earnings to fixed charges

EXHIBIT 12(a)

 

United Rentals, Inc.

Statement of Computation of Ratios of Earnings to Fixed Charges

 

     Year Ended December 31,

    Nine Months Ended
September 30,


 
     1998

    1999

    2000

    2001

    2002

    2002

    2003

 
     (dollars in thousands)              

Pre-tax income

   $ 78,297     $ 241,807     $ 301,496     $ 214,550     $ (101,384 )   $ 163,014     $ 80,336  

Interest expense

     64,157       139,828       228,779       221,563       195,961       146,206       158,796  

Amortization of debt issue costs

     1,423       4,154       6,880       9,468       10,080       7,489       9,295  

Interest portion of rent expense

     6,834       21,833       67,836       83,609       92,614       44,903       67,888  
    


 


 


 


 


 


 


“Earnings”

   $ 150,711     $ 407,622     $ 604,991     $ 529,190     $ 197,271     $ 361,612     $ 316,315  

Interest expense

   $ 64,157     $ 139,828     $ 228,779     $ 221,563     $ 195,961     $ 146,206     $ 158,796  

Amortization of debt issue costs

     1,423       4,154       6,880       9,468       10,080       7,489       9,295  

Interest portion of rent expense

     6,834       21,833       67,836       83,609       92,614       44,903       67,888  
    


 


 


 


 


 


 


“Fixed Charges”

   $ 72,414     $ 165,815     $ 303,495     $ 314,640     $ 298,655     $ 198,598     $ 235,979  

Ratio

     2.1 x     2.5 x     2.0 x     1.7 x     0.7 x     1.8 x     1.3 x