EX-12 3 a2078568zex-12.txt EXHIBIT 12 EXHIBIT 12 AVIS GROUP HOLDINGS, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (DOLLARS IN THOUSANDS)
PREDECESSOR COMPANIES MARCH 1, 2001 ----------------- THREE MONTHS (DATE OF ACQUISITION) TWO MONTHS ENDED TO ENDED MARCH 31, 2002 MARCH 31, 2001 FEBRUARY 28, 2001 -------------- --------------------- ----------------- EARNINGS AVAILABLE TO COVER FIXED CHARGES: Income (loss) before income taxes $ (4,153) $ 16,594 $(42,237) Plus: Fixed charges 72,062 28,958 59,419 Less: Capitalization of interest 3 3 4 -------- -------- -------- Earnings available to cover fixed charges $ 67,912 $ 45,555 $ 17,186 ======== ======== ======== FIXED CHARGES:(a) Interest, including amortization of deferred financing costs $ 62,106 $ 25,382 $ 52,134 Interest portion of rental payment 9,956 3,576 7,285 -------- -------- -------- Total fixed charges $ 72,062 $ 28,958 $ 59,419 ======== ======== ======== RATIO OF EARNINGS TO FIXED CHARGES $ 0.94x $ 1.57x $ 0.29x ======== ======== ========
----------- (a) Consists of interest expense on all indebtedness (including amortization of deferred financing costs) and the portion of operating lease rental expense that is representative of the interest factor.