NAVISTAR INTERNATIONAL CORP - FORM 10-K - EX-12 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - December 21, 2009

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10-K - FORM 10-K - NAVISTAR INTERNATIONAL CORPd10k.htm
EX-3 - ARTICLES OF INCORPORATION AND BY-LAWS - NAVISTAR INTERNATIONAL CORPdex3.htm
EX-4 - INSTRUMENTS DEFINING THE RIGHTS OF SECURITY HOLDERS, INCLUDING INDENTURES - NAVISTAR INTERNATIONAL CORPdex4.htm
EX-1 - UNDERWRITING AGREEMENT - NAVISTAR INTERNATIONAL CORPdex1.htm
EX-10 - MATERIAL CONTRACTS - NAVISTAR INTERNATIONAL CORPdex10.htm
EX-23 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - NAVISTAR INTERNATIONAL CORPdex23.htm
EX-21 - SUBSIDIARIES OF THE REGISTRANT - NAVISTAR INTERNATIONAL CORPdex21.htm
EX-24 - POWER OF ATTORNEY - NAVISTAR INTERNATIONAL CORPdex24.htm
EX-31.1 - CEO CERTIFICATION PURSUANT TO SECTION 302 - NAVISTAR INTERNATIONAL CORPdex311.htm
EX-31.2 - CFO CERTIFICATION PURSUANT TO SECTION 302 - NAVISTAR INTERNATIONAL CORPdex312.htm
EX-32.1 - CEO CERTIFICATION PURSUANT TO SECTION 906 - NAVISTAR INTERNATIONAL CORPdex321.htm
EX-32.2 - CFO CERTIFICATION PURSUANT TO SECTION 906 - NAVISTAR INTERNATIONAL CORPdex322.htm
EX-99.1 - ADDITIONAL FINANCIAL INFORMATION - NAVISTAR INTERNATIONAL CORPdex991.htm
EX-10.103 - LETTER DATED OCTOBER 20, 2009 TO WILLIAM A. CATON - NAVISTAR INTERNATIONAL CORPdex10103.htm
EX-10.104 - COMPENSATION COMMITTEE AND BOARD OF DIRECTORS - NAVISTAR INTERNATIONAL CORPdex10104.htm

EXHIBIT 12

Computation of Ratio of Earnings to Fixed Charges

The computation of Ratio of Earnings to Fixed Charges as shown on this Exhibit 12 is provided pursuant to Items 503(d) and 601(12) of Regulation S-K.

 

     2009    2008    2007     2006    2005
(in millions)                          

Income (loss) before income tax (expense) benefit(A)

    $ 288    $ 120    $     (147 )    $     296    $ 55

Dividends from non-consolidated affiliates

      59      85      111        83      83

Interest expense(B)

      235      456      493        418          300

Debt amortization expense

      16      13      9        13      8

Interest portion of rent expense(C)

      18      17      17        15      15
                                   

Total earnings

      616      691      483        825      461

Capitalized interest

      1      5      7        6      1

Interest expense(B)

      253      473      510        433      315

Debt amortization expense

      16      13      9        13      8
                                   

Total fixed charges

      270      491      526        452      324
                                   

Ratio of earnings to fixed charges

          2.28          1.41      —          1.83      1.42

Earnings shortfall

      —        —        (43 )      —        —  

 

(A) Excludes equity in income of non-consolidated affiliates and minority interest.
(B) Excludes interest expense on income tax contingencies.
(C) Represents an estimated amount of rental expense (33%) that is deemed to be representative of the interest factor.

 

E-20

NAVISTAR INTERNATIONAL CORP Reports

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