EX-12.(A) 6 dex12a.htm STATEMENT RE-COMPUTATION OF RATIOS OF EARNINGS TO Statement Re-computation of Ratios of Earnings to

 

 

EXHIBIT 12(a)

 

 

UNITED RENTALS, INC.

STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

 

   

Year Ended December 31

       
   

1997

  

1998

  

1999

  

2000

   

        2001        

     

Nine Months Ended September 30, 2002

   

(dollars in thousands)

       

Earnings:

                                    

Income before provision for income taxes and extraordinary items

  

$

34,917

  

$

78,297

  

$

241,807

  

$

301,496

   

$214,550

     

$163,014

Interest expense

  

 

11,847

  

 

64,157

  

 

139,828

  

 

228,779

   

221,563

     

146,206

Amortization of debt issuance costs

  

 

124

  

 

1,423

  

 

4,154

  

 

6,880

   

9,468

     

7,489

Interest portion of rent expense (1)

  

 

2,305

  

 

6,834

  

 

21,833

  

 

45,224

   

55,739

     

44,903

   
 
 
 
  
    

Earnings as adjusted

  

$

49,193

  

$

150,711

  

$

407,622

  

$

582,379

   

$501,320

     

$361,612

   
 
 
 
  
    

Fixed charges:

                                    

Interest expense

  

$

11,847

  

$

64,157

  

$

139,828

  

$

228,779

   

$221,563

     

$146,206

Amortization of debt issuance costs

  

 

124

  

 

1,423

  

 

4,154

  

 

6,880

   

9,468

     

7,489

Interest portion of rent expense (1)

  

 

2,305

  

 

6,834

  

 

21,833

  

 

45,224

   

55,739

     

44,903

   
 
 
 
  
    

Fixed charges

  

$

14,276

  

$

72,414

  

$

165,815

  

$

280,883

   

$286,770

     

$198,598

   
 
 
 
  
    

Ratio of earnings to fixed charges

  

 

3.4x

  

 

2.1x

  

 

2.5x

  

 

2.1x

   

1.7x

     

1.8x

 

 

(1)    The interest portion of rent expense is estimated to be one-third of rent expense.