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EXHIBIT 12
THE HERTZ CORPORATION AND SUBSIDIARIES
CONSOLIDATED COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In Thousands of Dollars Except Ratios)
Unaudited
| Successor |
|
|
| Predecessor |
| |||||
|
| Three Months Ended |
| ||||||||
|
| March 31, |
| ||||||||
|
| 2006 |
|
|
| 2005 |
| ||||
Income (loss) before income taxes and minority interest |
| $ | (63,300 | ) |
|
|
| $ | 35,479 |
|
|
Interest expense |
| 217,970 |
|
|
|
| 106,867 |
|
| ||
Portion of rent estimated to represent the interest factor |
| 34,730 |
|
|
|
| 31,969 |
|
| ||
Earnings before income taxes, minority interest and fixed charges |
| $ | 189,400 |
|
|
|
| $ | 174,315 |
|
|
Interest expense (including capitalized interest) |
| $ | 219,562 |
|
|
|
| $ | 107,323 |
|
|
Portion of rent estimated to represent the interest factor |
| 34,730 |
|
|
|
| 31,969 |
|
| ||
Fixed charges |
| $ | 254,292 |
|
|
|
| $ | 139,292 |
|
|
Ratio of earnings to fixed charges |
| (a) |
|
|
|
| 1.3 |
|
|
(a) Earnings before income taxes, minority interest and fixed charges for the three months ended March 31, 2006 were inadequate to cover fixed charges by $64.9 million.