EXHIBIT 12.1 RENTAL SERVICE CORPORATION COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Year Ended December 31, Three Months Ended March 31, ----------------------------------------------------- -------------------------------- 1995 1996 1997 1997 1998 ----------------------------------------------------- ------------ ------------ Earnings: Income from continuing operations before provision for income taxes................ $ 6,116,000 $ 6,711,000 $23,479,000 $3,905,000 $ 9,585,000 Total fixed charges.............. 4,033,000 7,987,000 16,483,000 1,915,000 8,259,000 ----------- ----------- ----------- ---------- ----------- Total earnings.................. $10,149,000 $14,698,000 $39,962,000 $5,820,000 $17,844,000 =========== =========== =========== ========== =========== Fixed charges: Interest expense................. $ 3,314,000 $ 7,063,000 $14,877,000 $1,597,000 $ 7,583,000 Implicit interest in rent expense......................... 719,000 924,000 1,606,000 318,000 676,000 ----------- ----------- ----------- ---------- ----------- Total fixed charges............. $ 4,033,000 $ 7,987,000 $16,483,000 $1,915,000 $ 8,259,000 =========== =========== =========== ========== =========== Ratio of earnings to fixed charges......................... 2.5x 1.8x 2.4x 3.0x 2.2x =========== =========== =========== ========== ===========