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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) Three Months EndedMarch 31,
    
    Year Ended December 31,2004 (1)
    
    2003 (2)
    
    2003 (3)
    
    2002 (4)
    
    2001
    
    2000
    
    1999Earnings:Income (loss) from continuing operations before income taxes
    
    $
    (1,721
    )
    
    $
    (37,375
    )
    
    $
    (107,766
    )
    
    $
    (92,419
    )
    
    $
    112,000
    
    
    $
    74,948
    
    
    $
    60,463Add:Interest on indebtedness and amortization of capitalized
interest, debt expense and discount
    
    
    35,372
    
    
    
    10,306
    
    
    
    85,524
    
    
    
    40,453
    
    
    
    31,760
    
    
    
    15,110
    
    
    
    9,115Leasing expense and the estimated interest factor attributable to
rents
    
    
    920
    
    
    
    25,160
    
    
    
    49,881
    
    
    
    96,863
    
    
    
    71,347
    
    
    
    46,132
    
    
    
    22,486Equity in income of non-consolidated affiliates in excess of
distributions of income
    
    
    (4,288
    )
    
    
    (2,880
    )
    
    
    (4,637
    )
    
    
    (2,223
    )
    
    
    (9,350
    )
    
    
    (3,518
    )
    
    
    (1,188
    )Earnings (loss) as adjusted
    
    $
    30,283
    
    
    $
    (4,789
    )
    
    $
    23,002
    
    
    $
    42,674
    
    
    $
    205,757
    
    
    $
    132,672
    
    
    $
    90,876Fixed charges:Interest on indebtedness, amortization of debt expense and
discount and capitalized interest
    
    $
    35,524
    
    
    $
    10,362
    
    
    $
    86,033
    
    
    $
    42,577
    
    
    $
    34,250
    
    
    $
    16,871
    
    
    $
    10,597Leasing expense and the estimated interest factor attributable to
rents
    
    
    920
    
    
    
    25,160
    
    
    
    49,881
    
    
    
    96,863
    
    
    
    71,347
    
    
    
    46,132
    
    
    
    22,486Total fixed charges
    
    $
    36,444
    
    
    $
    35,522
    
    
    $
    135,914
    
    
    $
    139,440
    
    
    $
    105,597
    
    
    $
    63,003
    
    
    $
    33,083Ratio of earnings to fixed charges
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1.95
    
    
    
    2.11
    
    
    
    2.75
   (1)
    
    Due to Hanovers loss for the three months ended March 31, 2004, the ratio was less than 1:1. Hanover would have had to generate additional pre-tax earnings of $6.2
million to achieve coverage of 1:1.(2)
    
    Due to Hanovers loss for the three months ended March 31, 2003, the ratio was less than 1:1. Hanover would have had to generate additional pre-tax earnings of $40.3
million to achieve coverage of 1:1. During the first quarter 2003, we recorded $42.1 million in pre-tax charges related to the settlement of shareholder litigation.
For a description of these pre-tax charges, see footnote 7 in the notes to the consolidated financial statements included in Hanovers Quarterly Report on Form 10-Q/A
for the quarter ended March 31, 2003.(3)
    
    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 $112.9
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 footnote 21 in
the notes to the consolidated financial statements included in Hanovers Annual Report on Form 10-K for the year ended December 31, 2003.(4)
    
    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 $96.8
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 footnote 27 in the
notes to the consolidated financial statements included in Hanovers Annual Report on Form 10-K for the year ended December 31, 2002.