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EXHIBIT 12
J.B. HUNT TRANSPORT SERVICES, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN THOUSANDS)
YEARS ENDED DECEMBER 31, SIX MONTHS
--------------------------------------------------------- ENDED
1993 1994 1995 1996 1997 JUNE 30, 1998
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Earnings (loss) before income taxes $64,826 65,148 (3,445) 35,669 18,332 39,465
Less: Joint Venture Earnings -- -- 1,460 (176) (806) (1,837)
Add: Fixed Charges 16,446 23,051 29,041 28,074 27,252 15,402
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Earnings as adjusted $81,272 88,199 27,056 63,567 44,778 53,030
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Fixed Charges -
Interest expense 14,634 20,819 26,556 25,488 24,950 14,184
Representative interest associated
with operating leases 1,812 2,232 2,485 2,586 2,302 1,218
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Total Fixed Charges $16,446 23,051 29,041 28,074 27,252 15,402
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Ratio of Earnings to Fixed Charges 4.94 3.83 (1) 2.26 1.64 3.44
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(1) Earnings for 1995 were inadequate to cover fixed charges by approximately
$2.0 million.
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J.B. HUNT TRANSPORT SERVICES, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN THOUSANDS)
PRO FORMA
---------------------------------------------------
SIX MONTHS TWELVE MONTHS
YEAR ENDED ENDED ENDED
DECEMBER 31, 1997 JUNE 30, 1998 JUNE 30, 1998
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Earnings before
income taxes $18,332 39,465 53,873
Less: Joint Venture
Earnings (806) (1,837) (2,643)
Add: Fixed Charges 27,252 15,402 28,670
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Earnings as adjusted $44,778 53,030 79,900
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Fixed Charges -
Interest expense 26,299 14,829 27,623
Representative interest
associated with
operating leases 2,302 1,218 2,347
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Total Fixed Charges $28,601 16,047 29,970
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Ratio of Earnings to
Fixed Charges 1.57 3.30 2.67
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