Attached files
Exhibit 12(a)
PACCAR and Subsidiaries
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
PURSUANT TO SEC REPORTING REQUIREMENTS
(Millions of Dollars)
| Year ended December 31 | |||||||||||||||
| 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||
| FIXED CHARGES |
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| Interest expense - PACCAR and subsidiaries (1) |
$ | 291.3 | $ | 391.1 | $ | 387.0 | $ | 303.6 | $ | 187.8 | |||||
| Portion of rentals deemed interest |
16.8 | 17.9 | 17.5 | 17.4 | 18.0 | ||||||||||
| TOTAL FIXED CHARGES |
$ | 308.1 | $ | 409.0 | $ | 404.5 | $ | 321.0 | $ | 205.8 | |||||
| EARNINGS |
|||||||||||||||
| Income before taxes - PACCAR and Subsidiaries (2) |
$ | 175.0 | $ | 1,464.0 | $ | 1,764.3 | $ | 2,175.3 | $ | 1,773.6 | |||||
| FIXED CHARGES |
308.1 | 409.0 | 404.5 | 321.0 | 205.8 | ||||||||||
| EARNINGS AS DEFINED |
$ | 483.1 | $ | 1,873.0 | $ | 2,168.8 | $ | 2,496.3 | $ | 1,979.4 | |||||
| RATIO OF EARNINGS TO FIXED CHARGES |
1.57x | 4.58x | 5.36x | 7.78x | 9.62x | ||||||||||
| (1) | Exclusive of interest paid to PACCAR. |
| (2) | Includes before-tax earnings of wholly-owned subsidiaries. |