Attached files
EXHIBIT 12(b)
FORM 10-Q
PACCAR FINANCIAL CORP.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
PURSUANT TO THE SUPPORT AGREEMENT
BETWEEN THE COMPANY AND PACCAR
(Millions of Dollars)
Three months
ended March 31 | ||||||
2010 | 2009 | |||||
FIXED CHARGES |
||||||
Interest expense |
$ | 24.9 | $ | 34.2 | ||
Facility and equipment rental |
.5 | .5 | ||||
TOTAL FIXED CHARGES |
$ | 25.4 | $ | 34.7 | ||
EARNINGS |
||||||
Income before taxes |
$ | 8.0 | $ | 17.3 | ||
Depreciation |
37.1 | 29.4 | ||||
45.1 | 46.7 | |||||
FIXED CHARGES |
25.4 | 34.7 | ||||
EARNINGS AS DEFINED |
$ | 70.5 | $ | 81.4 | ||
RATIO OF EARNINGS TO FIXED CHARGES |
2.78X | 2.35X | ||||