Exhibit 12.1
Hanover Compressor Company Computation of Ratio of Earnings to Fixed Charges
(Amounts in thousands of dollars)
Year Ended December 31,
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2001 2000 1999 1998 1997
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Earnings:
Income before taxes...................................... $117,410 $ 81,471 $63,586 $49,636 $28,685
Add:
Interest on indebtedness and amortization of debt expense
and discount(1)........................................ 23,913 15,054 9,064 11,716 10,728
Leasing expense and the estimated interest factor
attributable to rents.................................. 71,384 46,132 22,486 6,310 113
Equity in losses of joint ventures....................... -- -- -- 137 342
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Earnings as adjusted.................................... $212,707 $142,657 $95,136 $67,799 $39,868
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Fixed charges:
Interest on indebtedness, amortization of debt expense
and discount and capitalized interest(1)............... $ 26,663 $ 16,589 $10,597 $11,716 $10,728
Leasing expense and the estimated interest factor
attributable to rents.................................. 71,384 46,132 22,486 6,310 113
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Fixed charges........................................... $ 98,047 $ 62,721 $33,083 $18,026 $10,841
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Ratio of earnings to fixed charges....................... 2.17 2.27 2.88 3.76 3.68
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(1) Includes distributions on mandatorily redeemable convertible preferred
securities.
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