EX-12.1 12 dex121.txt COMPUTATION OF RATIO OF EARNIGS TO FIXED CHARGES Exhibit 12.1 Computation of Ratio of Earnings to Fixed Charges for Hanover Compressor Company (Amounts in thousands of dollars) (unaudited)
Nine Months Ended September 30, -------------------------------------------- Pro forma 2001 2001 2000 ---- ---- ---- Earnings: Income before taxes $105,813 $104,281 $ 62,653 Add: Interest on indebtedness and amortization of debt expense and discount 23,598 15,098 10,336 Leasing expense and the estimated interest factor attributable to rents 71,709 48,291 30,032 ------- ------- ------- Earnings 201,120 167,670 103,021 ------- ------- ------- Fixed charges: Interest on indebtedness and amortization of debt expense and discount 24,618 16,118 11,606 Leasing expense and the estimated interest factor attributable to rents 71,709 48,291 30,032 ------- ------- ------- Fixed charges 96,327 64,409 41,638 ------- ------- ------- Ratio of earnings to fixed charges 2.09 2.60 2.47 ======= ======= =======
Year Ended December 31, ------------------------------------------------------------------ Pro forma 2000 2000 1999 1998 1997 1996 ---- ---- ---- ---- ---- ---- Earnings: Income before taxes $88,454 $93,470 $63,586 $49,636 $28,685 $16,953 Add: Interest on indebtedness and amortization of debt expense and discount 33,322 14,842 9,064 11,716 10,728 6,594 Leasing expense and the estimated interest factor attributable to rents 82,007 46,132 22,486 6,310 113 132 Equity in losses of joint ventures 137 342 ------- ------- ------ ------ ------ ------- Earnings 203,783 154,444 95,136 67,799 39,868 23,679 ------- ------- ------ ------ ------ ------- Fixed charges: Interest on indebtedness and amortization of debt expense and discount 34,857 16,377 10,597 11,716 10,728 6,594 Leasing expense and the estimated interest factor attributable to rents 82,007 46,132 22,486 6,310 113 132 ------- ------- ------ ------ ------ ------- Fixed charges 116,864 62,509 33,083 18,026 10,841 6,726 ------- ------- ------ ------ ------ ------- Ratio of earnings to fixed charges 1.74 2.47 2.88 3.76 3.68 3.52 ======= ======= ====== ====== ====== ======