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- S-4 Registration of securities issued in business combination transactions
- 3.36 EX-3.36
- 3.37 EX-3.37
- 3.38 EX-3.38
- 3.39 EX-3.39
- 3.40 EX-3.40
- 3.41 EX-3.41
- 3.42 EX-3.42
- 3.43 EX-3.43
- 3.44 EX-3.44
- 3.45 EX-3.45
- 3.46 EX-3.46
- 3.47 EX-3.47
- 3.48 EX-3.48
- 3.49 EX-3.49
- 3.50 EX-3.50
- 3.52 EX-3.52
- 3.53 EX-3.53
- 4.6.3 EX-4.6.3
- 5.1 EX-5.1
- 5.2 EX-5.2
- 5.3 EX-5.3
- 5.4 EX-5.4
- 5.5 EX-5.5
- 12.1 EX-12.1
- 15.1 EX-15.1
- 15.2 EX-15.2
- 21.1 EX-21.1
- 23.1 EX-23.1
- 23.2 EX-23.2
- 23.3 EX-23.3
- 25.1 EX-25.1
- 99.1 EX-99.1
- 99.2 EX-99.2
- 99.3 EX-99.3
- 99.4 EX-99.4
- 16 Oct 13 Registration of securities issued in business combination transactions (amended)
- 27 Aug 13 Registration of securities issued in business combination transactions (amended)
- 26 Jun 13 Registration of securities issued in business combination transactions
- 31 Jan 13 Registration of securities issued in business combination transactions
Exhibit 12.1
THE HERTZ CORPORATION
COMPUTATION OF CONSOLIDATED RATIO OF EARNINGS
TO FIXED CHARGES (UNAUDITED)
(In Millions of Dollars Except Ratios)
|
| Three |
| Years ended December 31, |
| ||||||||||||||
|
| 2013 |
| 2012 |
| 2011 |
| 2010 |
| 2009 |
| 2008 |
| ||||||
Income (loss) before income taxes |
| $ | 86.0 |
| $ | 502.9 |
| $ | 373.9 |
| $ | 32.3 |
| $ | (150.1 | ) | $ | (1,416.6 | ) |
Interest expense |
| 163.2 |
| 597.8 |
| 650.3 |
| 726.5 |
| 653.7 |
| 870.5 |
| ||||||
Portion of rent estimated to represent the interest factor |
| 49.4 |
| 146.1 |
| 146.1 |
| 141.9 |
| 149.9 |
| 155.7 |
| ||||||
Earnings (loss) before income taxes and fixed charges |
| $ | 298.6 |
| $ | 1,246.8 |
| $ | 1,170.3 |
| $ | 900.7 |
| $ | 653.5 |
| $ | (390.4 | ) |
Interest expense (including capitalized interest) |
| $ | 164.4 |
| $ | 604.4 |
| $ | 652.4 |
| $ | 727.4 |
| $ | 654.9 |
| $ | 873.3 |
|
Portion of rent estimated to represent the interest factor |
| 49.4 |
| 146.1 |
| 146.1 |
| 141.9 |
| 149.9 |
| 155.7 |
| ||||||
Fixed charges |
| $ | 213.8 |
| $ | 750.5 |
| $ | 798.5 |
| $ | 869.3 |
| $ | 804.8 |
| $ | 1,029.0 |
|
Ratio of earnings to fixed charges |
| 1.4 |
| 1.7 |
| 1.5 |
| 1.0 |
| (a | ) | (a | ) |
(a) Earnings (loss) before income taxes and fixed charges for the years ended December 31, 2009 and 2008 were inadequate to cover fixed charges for the period by $151.3 million and $1,419.4 million, respectively.