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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
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.