EXHIBIT 12
THE HERTZ CORPORATION AND SUBSIDIARIES
CONSOLIDATED COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN THOUSANDS OF DOLLARS EXCEPT RATIOS)
UNAUDITED
Six Months Ended
June 30,
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2002 2001
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Income before income taxes $ 24,794 $ 80,001
Interest expense 178,118 209,799
Portion of rent estimated to represent the
interest factor 57,261 54,452
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Earnings before income taxes and fixed charges $ 260,173 $ 344,252
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Interest expense (including capitalized interest) $ 178,822 $ 210,519
Portion of rent estimated to represent the
interest factor 57,261 54,452
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Fixed charges $ 236,083 $ 264,971
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Ratio of earnings to fixed charges 1.1 1.3
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