PACCAR FINANCIAL CORP - FORM 10-Q - EX-12.B - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - August 8, 2011

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EXCEL - IDEA: XBRL DOCUMENT - PACCAR FINANCIAL CORPFinancial_Report.xls
10-Q - FORM 10-Q - PACCAR FINANCIAL CORPd10q.htm
EX-12.A - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - PACCAR FINANCIAL CORPdex12a.htm
EX-31.B - SECTION 302 CFO CERTIFICATION - PACCAR FINANCIAL CORPdex31b.htm
EX-31.A - SECTION 302 CEO CERTIFICATION - PACCAR FINANCIAL CORPdex31a.htm
EX-32.A - SECTION 906 CERTIFICATIONS - PACCAR FINANCIAL CORPdex32a.htm

PACCAR FINANCIAL CORP. - FORM 10-Q

EXHIBIT 12(b)

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

PURSUANT TO THE SUPPORT AGREEMENT

BETWEEN THE COMPANY AND PACCAR

(Millions of Dollars)

 

     Six months ended
June 30		  
     2011      2010  

FIXED CHARGES

      

Interest expense

    $ 32.2       $ 48.5   

Facility and equipment rental

      1.0         1.1   
  

 

 

     

 

 

  
     

TOTAL FIXED CHARGES

    $ 33.2       $ 49.6   
  

 

 

     

 

 

  
     

EARNINGS

      

Income before taxes

    $ 49.8       $ 23.2   

Depreciation

      68.5         68.1   
  

 

 

     

 

 

  
     118.3         91.3   
     

FIXED CHARGES

      33.2         49.6   
  

 

 

     

 

 

  
     

EARNINGS AS DEFINED

    $ 151.5       $ 140.9   
  

 

 

     

 

 

  
     

RATIO OF EARNINGS TO FIXED CHARGES

      4.56X         2.84X   
  

 

 

     

 

 

  

PACCAR FINANCIAL CORP Reports