EXHIBIT 12(a)
United Rentals, Inc.
Statement of Computation of Ratios of Earnings to Fixed Charges
Year Ended December 31, | ||||||||||||||||||||
1999 | 2000 | 2001 | 2002 | 2003 | ||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Pre-tax income | $ | 241,807 | $ | 301,496 | $ | 196,474 | $ | (101,384 | ) | $ | (326,521 | ) | ||||||||
Interest expense | 139,828 | 228,779 | 221,563 | 195,961 | 209,328 | |||||||||||||||
Amortization of debt issue costs | 4,154 | 6,880 | 9,468 | 10,080 | 12,387 | |||||||||||||||
Interest portion of rent expense | 21,833 | 67,836 | 83,609 | 92,614 | 88,098 | |||||||||||||||
“Earnings” | $ | 407,622 | $ | 604,991 | $ | 511,114 | $ | 197,271 | $ | (16,708 | ) | |||||||||
Interest expense | $ | 139,828 | $ | 228,779 | $ | 221,563 | $ | 195,961 | $ | 209,328 | ||||||||||
Amortization of debt issue costs | 4,154 | 6,880 | 9,468 | 10,080 | 12,387 | |||||||||||||||
Interest portion of rent expense | 21,833 | 67,836 | 83,609 | 92,614 | 88,098 | |||||||||||||||
“Fixed Charges” | $ | 165,815 | $ | 303,495 | $ | 314,640 | $ | 298,655 | $ | 309,813 | ||||||||||
Ratio | 2.5 | x | 2.0 | x | 1.6 | x | 0.7 | x | (0.1 | )x |