EX-12 2 k99500exv12.htm EX-12: CONSOLIDATED COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12
 

EXHIBIT 12
THE HERTZ CORPORATION AND SUBSIDIARIES
CONSOLIDATED COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In Thousands of Dollars Except Ratios)
Unaudited
                 
    Nine Months Ended  
    September 30,  
    2005     2004  
Income before income taxes and minority interest
   $ 454,329     $ 392,584  
Interest expense
     379,383       300,829  
Portion of rent estimated to represent the interest factor
     99,678       97,896  
 
            
Earnings before income taxes, minority interest and fixed charges
   $ 933,390     $ 791,309  
 
            
Interest expense (including capitalized interest)
   $ 381,301     $ 301,404  
Portion of rent estimated to represent the interest factor
     99,678       97,896  
 
            
Fixed charges
   $ 480,979     $ 399,300  
 
            
Ratio of earnings to fixed charges
     1.9       2.0