1 EXHIBIT 12.1 The J. H. Heafner Company, Inc. Statement regarding: Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends: SIX MONTHS ENDED PRO FORMA PRO FORMA JUNE 30, SIX MONTHS ENDED YEAR ENDED ------------------ JUNE 30,1998 DECEMBER 31,1997 1998 1997 ----------------- ---------------- ------------------ Consolidated pretax income (loss) from continuing operations (126) (3,668) (2,113) (115) Interest 8,292 14,767 4,286 1,672 Increase in value of warrants -- -- 9,906 -- Interest portion of rent expense -- -- 2,240 926 Preferred stock dividend requirements of majority-owned subsidiaries -- -- -- -- ------- ------- ------- ----- EARNINGS 8,166 11,099 14,318 2,483 ======= ======= ======= ===== Interest 8,292 14,767 4,286 1,672 Increase in value of warrants -- -- 9,906 -- Interest capitalized -- -- -- -- Interest portion of rent expense -- -- 2,240 926 Preferred stock dividend requirements of majority-owned subsidiaries -- -- -- -- ------- ------- ------- ----- FIXED CHARGES 8,292 14,767 16,431 2,598 ======= ======= ======= ===== RATIO OF EARNINGS TO FIXED CHARGES -- -- -- -- ======= ======= ======= ===== Years Ended December 31, ----------------------------------------------------- 1997 1996 1995 1994 1993 ----- ----- ----- ----- ----- Consolidated pretax income (loss) from continuing operations (253) 1051 690 1221 1155 Interest 4842 1465 1308 899 781 Increase in value of warrants 0 0 0 0 0 Interest portion of rent expense 2985 795 661 520 450 Preferred stock dividend requirements of majority-owned subsidiaries 0 0 0 0 0 ----- ----- ----- ----- ----- EARNINGS 7,574 3,311 2,659 2,640 2,386 ===== ===== ===== ===== ===== Interest 4842 1465 1308 899 781 Increase in value of warrants 0 0 0 0 0 Interest capitalized Interest portion of rent expense 2985 795 661 520 450 Preferred stock dividend requirements of majority-owned subsidiaries 0 0 0 0 0 ----- ----- ----- ----- ----- FIXED CHARGES 7827 2260 1969 1419 1231 ===== ===== ===== ===== ===== RATIO OF EARNINGS TO FIXED CHARGES -- 1.5 1.4 1.9 1.9 ===== ===== ===== ===== =====