EX-12.3 7 dex123.txt HANOVER COMPRESSION - RATIO COMPUTATION Exhibit 12.3 Hanover Compression Limited Partnership Computation of Ratio of Earnings to Fixed Charges (amounts in thousands of dollars) (unaudited)
March 31, March 31, Pro forma 2002 2001 2001 2001 2000 1999 ---- ---- ---- ---- ---- ---- Earnings: Income before taxes $ 12,496 $ 34,058 $ 133,426 $ 131,590 $ 87,840 $ 63,864 Add: Interest on indebtedness and amortization of capitalized interest, debt expense and discount 8,333 3,040 19,207 17,800 8,747 8,837 Leasing expense and the estimated interest factor attributable to rents 23,342 15,524 94,511 71,637 46,132 22,486 Subtract: Equity in income of non-consolidated affiliates in excess of distributions of income (4,932) (750) (5,615) (9,350) (3,518) (1,188) --------- --------- --------- --------- --------- --------- Earnings 39,239 51,872 241,529 211,677 139,201 93,999 --------- --------- --------- --------- --------- --------- Fixed charges: Interest on indebtedness and amortization of debt expense and discount 9,068 3,341 21,697 20,290 10,220 10,319 Leasing expense and the estimated interest factor attributable to rents 23,342 15,524 94,511 71,637 46,132 22,486 --------- --------- --------- --------- --------- --------- Fixed charges 32,410 18,865 116,208 91,927 $ 56,352 32,805 --------- --------- --------- --------- --------- --------- Ratio of earnings to fixed charges 1.21 2.75 2.08 2.30 2.47 2.87 ========= ========= ========= ========= ========= ========= 1998 1997 ---- ---- Earnings: Income before taxes $ 49,636 $ 28,685 Add: Interest on indebtedness and amortization of capitalized interest, debt expense and discount 11,716 10,728 Leasing expense and the estimated interest factor attributable to rents 6,310 113 Subtract: Equity in income of non-consolidated affiliates in excess of distributions of income (1,369) --------- --------- Earnings 66,263 39,526 --------- --------- Fixed charges: Interest on indebtedness and amortization of debt expense and discount 11,716 10,728 Leasing expense and the estimated interest factor attributable to rents 6,310 113 --------- --------- Fixed charges 18,026 10,841 --------- --------- Ratio of earnings to fixed charges 3.68 3.65 ========= =========