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Exhibit 12.1 Hanover Compressor Company
Computation of Ratio of Earnings to Fixed Charges
(Amounts in thousands of dollars, except ratio amounts) Year Ended December 31,2004 (1)
    
    
    2003 (2)
    
    
    2002 (3)
    
    
    2001
    
    
    2000Earnings:Income (loss) from continuing operations before income taxes
    
    $
    (29,324
    )
    
    $
    (113,859
    )
    
    $
    (97,325
    )
    
    $
    107,257
    
    
    $
    67,539Add:Interest on indebtedness and amortization of capitalized
interest, debt expense and discount
    
    
    147,991
    
    
    
    85,524
    
    
    
    40,453
    
    
    
    31,760
    
    
    
    15,110Leasing expense and the estimated interest factor attributable to rents
    
    
    3,450
    
    
    
    49,818
    
    
    
    95,362
    
    
    
    71,315
    
    
    
    45,972Equity in income of non-consolidated affiliates in excess of
distributions of income
    
    
    (10,112
    )
    
    
    (4,563
    )
    
    
    (1,966
    )
    
    
    (9,607
    )
    
    
    (2,568
    )Earnings as adjusted
    
    $
    112,005
    
    
    $
    16,920
    
    
    $
    36,524
    
    
    $
    200,725
    
    
    $
    126,053Fixed charges:Interest on indebtedness, amortization of debt expense and
discount and capitalized interest
    
    $
    147,252
    
    
    $
    86,033
    
    
    $
    42,577
    
    
    $
    34,250
    
    
    $
    16,871Leasing expense and the estimated interest factor attributable to rents
    
    
    3,450
    
    
    
    49,818
    
    
    
    95,362
    
    
    
    71,315
    
    
    
    45,972Total fixed charges
    
    $
    150,702
    
    
    $
    135,851
    
    
    $
    137,939
    
    
    $
    105,565
    
    
    $
    62,843Ratio of earnings to fixed charges
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1.90
    
    
    
    2.01
   (1)
    
    Due to Hanovers loss for the year ended December 31, 2004, the ratio
was less than 1:1. Hanover would have had to generate additional
pre-tax earnings of $38.7 million to achieve coverage of 1:1. During
the year, we recorded $0.4 million in pre-tax income. For a
description of these pre-tax charges, see Note 22 in the notes to the
consolidated financial statements included in Hanovers Annual Report
on Form 10-K for the year ended December 31, 2004.(2)
    
    Due to Hanovers loss for the year ended December 31, 2003, the ratio
was less than 1:1. Hanover would have had to generate additional
pre-tax earnings of $118.9 million to achieve coverage of 1:1. During
the year, we recorded $250.6 million in pre-tax charges. For a
description of these pre-tax charges, see Note 22 in the notes to the
consolidated financial statements included in Hanovers Annual Report
on Form 10-K for the year ended December 31, 2004.(3)
    
    Due to Hanovers loss for the year ended December 31, 2002, the ratio
was less than 1:1. Hanover would have had to generate additional
pre-tax earnings of $101.4 million to achieve coverage of 1:1. During
2002, we recorded $182.7 million in pre-tax charges. For a
description of these pre-tax charges, see Note 22 in the notes to the
consolidated financial statements included in Hanovers Annual Report
on Form 10-K for the year ended December 31, 2004.