EX-12.1 3 0003.txt COMPUTATION RATIOS OF EARNINGS TO FIXED CHARGES Exhibit 12.1 Hanover Compressor Company Computation of Ratio of Earnings to Fixed Charges (Amounts in thousands of dollars)
YEAR ENDED DECEMBER 31, 2000 1999 1998 1997 1996 -------- ------- ------- ------- ------- Earnings: Pretax income from continuing operations............... $ 93,470 $63,586 $49,636 $28,685 $16,953 Add: Interest on indebtedness and amortization of debt expense and discount(1)......................... 14,842 9,064 11,716 10,728 6,594 Interest component of leasing and rent expense......... 46,132 22,486 6,310 113 132 Equity in losses of joint ventures..................... - - 137 342 - -------- ------- ------- ------- ------- Earnings as adjusted 154,444 95,136 67,799 39,868 23,679 -------- ------- ------- ------- ------- Fixed charges: Interest on indebtedness, amortization of debt expense and discount and capitalized interest(1)...... 16,377 10,597 11,716 10,728 6,594 Interest component of leasing and rent expense.......... 46,132 22,486 6,310 113 132 -------- ------- ------- ------- ------- Fixed charges........................................ 62,509 33,083 18,026 10,841 6,726 -------- ------- ------- ------- ------- Ratio of earnings to fixed charges........................ 2.47 2.88 3.76 3.68 3.52 ======== ======= ======= ======= ======= ------------- (1) Includes distributions on mandatorily redeemable convertible preferred securities.
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Dividends
YEAR ENDED DECEMBER 31, 2000 1999 1998 1997 1996 -------- ------- ------- ------- ------- Earnings: Pretax income from continuing operations............ $ 93,470 $63,586 $49,636 $28,685 $16,953 Add: Interest on indebtedness and amortization of debt expense and discount(1)......................... 14,842 9,064 11,716 10,728 6,594 Interest component of leasing and rent expense......... 46,132 22,486 6,310 113 132 Equity in losses of joint ventures..................... - - 137 342 - -------- ------- ------- ------- ------- Earnings as adjusted 154,444 95,136 67,799 39,868 23,679 -------- ------- ------- ------- ------- Fixed charges: Interest on indebtedness, amortization of debt expense and discount and capitalized interest(1)..... 16,377 10,597 11,716 10,728 6,594 Interest component of leasing and rent expense......... 46,132 22,486 6,310 113 132 Preferred dividend requirements........................ - - - - 11,560 -------- ------- ------- ------- ------- Fixed charges and preferred dividends................ 62,509 33,083 18,026 10,841 18,286 -------- ------- ------- ------- ------- Ratio of earnings to combined fixed charges and preferred dividends.................................. 2.47 2.88 3.76 3.68 1.29 ======== ======= ======= ======= ======= ------------- (1) Includes distributions on mandatorily redeemable convertible preferred securities.