EX-12.A 2 dex12a.htm STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement re: Computation of Ratio 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,

    Three
Months
Ended
March 31,
2004


 
     1999

    2000

    2001

    2002

    2003

   
           (dollars in thousands)              

Pre-tax income

   $ 241,807     $ 301,496     $ 196,474     $ (101,384 )   $ (326,521 )   $ (177,584 )

Interest expense

     139,828       228,779       221,563       195,961       209,328       49,569  

Amortization of debt issue costs

     4,154       6,880       9,468       10,080       12,387       2,141  

Interest portion of rent expense

     21,833       67,836       83,609       92,614       88,098       18,598  
    


 


 


 


 


 


“Earnings”

   $ 407,622     $ 604,991     $ 511,114     $ 197,271     $ (16,708 )   $ (107,276 )

Interest expense

   $ 139,828     $ 228,779     $ 221,563     $ 195,961     $ 209,328     $ 49,569  

Amortization of debt issue costs

     4,154       6,880       9,468       10,080       12,387       2,141  

Interest portion of rent expense

     21,833       67,836       83,609       92,614       88,098       18,598  
    


 


 


 


 


 


“Fixed Charges”

   $ 165,815     $ 303,495     $ 314,640     $ 298,655     $ 309,813     $ 70,308  

Ratio

     2.5 x     2.0 x     1.6 x     0.7 x     (0.1 )x     (1.5 )x