Exhibit 12.1
H&EEquipment Services, Inc.
Computation of Ratio of Earnings to Fixed Charges
(Amounts in thousands, except ratios)
| For the Six Months | ||||||||||||||||||||||||||||||||||||||||
| For the Year Ended December 31, | Ended June 30, | |||||||||||||||||||||||||||||||||||||||
| 2005 As | 2005 Pro | 2006 As | 2006 Pro | |||||||||||||||||||||||||||||||||||||
| 2001 | 2002 | 2003 | 2004 | 2005 | Adjusted(1) | Forma(2) | 2006 | Adjusted(1) | Forma(2) | |||||||||||||||||||||||||||||||
Earnings (loss) | ||||||||||||||||||||||||||||||||||||||||
| Income (loss) from continuing operations | $ | 4,723 | $ | (14,508 | ) | $ | (51,745 | ) | $ | (13,737 | ) | $ | 28,833 | $ | 35,131 | $ | 53,279 | $ | 30,198 | $ | 33,593 | $ | 41,612 | |||||||||||||||||
| Add back: fixed charges as disclosed below | 24,578 | 37,670 | 48,365 | 49,061 | 49,769 | 43,471 | 33,495 | 22,554 | 19,016 | 17,699 | ||||||||||||||||||||||||||||||
| Earnings (loss) as adjusted | $ | 29,321 | $ | 23,162 | $ | (3,380 | ) | $ | 35,324 | $ | 78,602 | $ | 78,602 | $ | 86,774 | $ | 52,752 | $ | 52,609 | $ | 59,311 | |||||||||||||||||||
Computation of fixed charges | ||||||||||||||||||||||||||||||||||||||||
| Interest expense | $ | 17,995 | $ | 28,955 | $ | 39,394 | $ | 39,856 | $ | 41,822 | $ | 35,524 | $ | 29,668 | $ | 20,425 | $ | 16,887 | $ | 15,888 | ||||||||||||||||||||
| Estimated interest portion of rentals charged to expense | 6,583 | 8,715 | 8,971 | 9,205 | 7,947 | 7,947 | 3,828 | 2,129 | 2,129 | 1,811 | ||||||||||||||||||||||||||||||
| Total fixed charges | $ | 24,578 | $ | 37,670 | $ | 48,365 | $ | 49,061 | $ | 49,769 | $ | 43,471 | $ | 33,495 | $ | 22,554 | $ | 19,016 | $ | 17,699 | ||||||||||||||||||||
Earnings (deficiency) to fixed charges | $ | 4,743 | $ | (14,508 | ) | $ | (51,745 | ) | $ | (13,737 | ) | $ | 28,833 | $ | 35,131 | $ | 53,279 | $ | 30,198 | $ | 33,593 | $ | 41,612 | |||||||||||||||||
Ratio of earnings to fixed charges | 1.2 | x | — | — | — | 1.6 | x | 1.8 | x | 2.6 | x | 2.3x | 2.8 | x | 3.4 | x | ||||||||||||||||||||||||
| (1) | The as adjusted data for the year ended December 31, 2005 and six months ended June 30, 2006 have been prepared to give pro forma effect to the Refinancing as if it had occurred on January 1, 2005. | |
| (2) | The pro forma data for the year ended December 31, 2005 and six months ended June 30, 2006 have been prepared to give pro forma effect to (1) the Eagle acquisition, (2) the Reorganization Transactions and our initial public offering of our common stock, including the application of net proceeds from that offering, and (3) the Refinancing, in each case as if they had occurred on January 1, 2005. |