EX-12.1 7 h92603ex12-1.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12.1 UNIVERSAL COMPRESSION HOLDINGS, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (DOLLARS IN THOUSANDS)
PERIOD FROM PERIOD FROM APRIL 1, DECEMBER 12, 1997 1997 YEAR YEAR YEAR YEAR ENDED THROUGH THROUGH ENDED ENDED ENDED MARCH 31, FEBRUARY 20, MARCH 31, MARCH 31, MARCH 31, MARCH 31, 1997 1998 1998 1999 2000 2001 ---------- ------------ ------------ --------- --------- --------- Fixed Charges as Defined: Interest expense, including amortization of deferred financing charges $ -- $ -- $ 3,203 $ 29,313 $ 34,327 $ 23,220 Interest component of rental expense on operating leases 143 130 14 142 138 4,888 Operating lease expense -- -- -- -- -- 14,443 -------- -------- -------- -------- -------- -------- Total Fixed Charges $ 143 $ 130 $ 3,217 $ 29,455 $ 34,465 $ 42,551 ======== ======== ======== ======== ======== ======== Earnings as Defined: Income (loss) before extraordinary items $ 7,842 $ 10,759 $ 430 $ (2,361) $ (5,982) $ 5,112 Income taxes (benefit) 4,724 6,271 409 (1,031) (1,994) 3,645 Total Fixed Charges 143 130 3,217 29,455 34,465 42,551 -------- -------- -------- -------- -------- -------- Total Earnings as Defined $ 12,709 $ 17,160 $ 4,056 $ 26,063 $ 26,489 $ 51,308 ======== ======== ======== ======== ======== ======== Ratio of Earnings to Fixed Charges 88.9 132.0 1.3 0.9 0.8 1.2 SIX MONTHS PRO FORMA SIX PRO FORMA ENDED MONTHS ENDED YEAR ENDED SEPTEMBER 30, SEPTEMBER 30, MARCH 31, 2001 2000 2001 ------------ -------------- ---------- Fixed Charges as Defined: Interest expense, including amortization of deferred financing charges $ 12,105 $ 11,746 $ 20,404 Interest component of rental expense on operating leases 2,444 3,174 4,888 Operating lease expense 25,566 16,668 39,024 -------- -------- -------- Total Fixed Charges $ 40,115 $ 31,588 $ 64,316 ======== ======== ======== Earnings as Defined: Income (loss) before extraordinary items $ 38,162 $ 3,785 $ 15,258 Income taxes (benefit) 14,824 2,471 10,041 Total Fixed Charges 40,115 31,588 64,316 -------- -------- -------- Total Earnings as Defined $ 93,101 $ 37,844 $ 89,615 ======== ======== ======== Ratio of Earnings to Fixed Charges 2.3 1.2 1.4