Exhibit 12.1
Hanover Compressor Company Computation of Ratio of Earnings to Fixed Charges
(Amounts in thousands of dollars, except ratio amounts)
Year Ended December 31,
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2001 2000 1999 1998 1997
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Earnings:
Income before income taxes............................... $117,047 $ 79,010 $60,463 $49,636 $28,685
Add:
Interest on indebtedness and amortization of debt expense
and discount(1)........................................ 24,173 15,116 9,115 11,716 10,728
Leasing expense and the estimated interest factor
attributable to rents.................................. 71,637 46,132 22,486 6,310 113
Equity in losses of joint ventures....................... (9,350) (3,518) (1,188) (1,369) 342
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Earnings as adjusted.................................... $203,507 $136,740 $90,876 $66,293 $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.................................. 71,637 46,132 22,486 6,310 113
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Total fixed charges..................................... $ 98,300 $ 62,721 $33,083 $18,026 $10,841
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Ratio of earnings to fixed charges....................... 2.07 2.18 2.75 3.68 3.68
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(1) Includes distributions on mandatorily redeemable convertible preferred
securities.
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