Exhibit 12.3
Computation of Ratio of Earnings to Fixed Charges
for Hanover Compression Limited Partnership
(Amounts in thousands of dollars) (unaudited)
Nine Months Ended September 30,
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Pro forma
2001 2001 2000
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Earnings:
Income before taxes $115,878 $114,346 $67,429
Add:
Interest on indebtedness and amortization of debt
expense and discount 14,005 5,505 5,560
Leasing expense and the estimated interest factor
attributable to rents 71,709 48,291 30,032
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Earnings 201,592 168,142 103,021
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Fixed charges:
Interest on indebtedness and amortization of
debt expense and discount 15,025 6,525 6,830
Leasing expense and the estimated interest factor
attributable to rents 71,709 48,291 30,032
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Fixed charges 86,734 54,816 36,862
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Ratio of earnings to fixed charges 2.32 3.07 2.79
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Year Ended December 31,
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Pro forma
2000 2000 1999 1998 1997 1996
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Earnings:
Income before taxes $94,823 $99,839 $63,864 $49,636 $28,685 $16,953
Add:
Interest on indebtedness and amortization of debt
expense and discount 26,953 8,473 8,786 11,716 10,728 6,594
Leasing expense and the estimated interest factor
attributable to rents 82,007 46,132 22,486 6,310 113 132
Equity in losses of joint ventures 137 342
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Earnings as adjusted 203,783 154,444 95,136 67,799 39,868 23,679
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Fixed charges:
Interest on indebtedness and amortization of
debt expense and discount 28,488 10,008 10,319 11,716 10,728 6,594
Leasing expense and the estimated interest factor
attributable to rents 82,007 46,132 22,486 6,310 113 132
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Fixed charges 110,495 56,140 32,805 18,026 10,841 6,726
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Ratio of earnings to fixed charges 1.84 2.75 2.90 3.76 3.68 3.52
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