EX-12 2 y99884exv12.htm CONS COMP OF RATIO OF EARNINGS TO FIXED CHARGES CONS COMP OF RATIO OF EARNINGS TO FIXED CHARGES
 

EXHIBIT 12

THE HERTZ CORPORATION AND SUBSIDIARIES
CONSOLIDATED COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In Thousands of Dollars Except Ratios)
Unaudited

                 
    Six Months Ended
    June 30,
    2004
   2003
Income before income taxes
   $ 141,720     $ 2,788  
Interest expense
     191,716       187,132  
Portion of rent estimated to represent the interest factor
     63,282       58,547  
 
    
 		      
 		  
Earnings before income taxes and fixed charges
   $ 396,718     $ 248,467  
 
    
 		      
 		  
Interest expense (including capitalized interest)
   $ 192,079     $ 187,407  
Portion of rent estimated to represent the interest factor
     63,282       58,547  
 
    
 		      
 		  
Fixed charges
   $ 255,361     $ 245,954  
 
    
 		      
 		  
Ratio of earnings to fixed charges
     1.6       1.0