Attached files
| file | filename |
|---|---|
| EX-32.1 - EXHIBIT 32.1 - 906 CERTIFICATION - TOYOTA MOTOR CREDIT CORP | exhibit_32-1.htm |
| EX-32.2 - EXHIBIT 32.2 - 906 CERTIFICATION - TOYOTA MOTOR CREDIT CORP | exhibit_32-2.htm |
| EX-31.1 - EXHIBIT 31.1 - 302 CERTIFICATION - TOYOTA MOTOR CREDIT CORP | exhibit_31-1.htm |
| EX-31.2 - EXHIBIT 31.2 - 302 CERTIFICATION - TOYOTA MOTOR CREDIT CORP | exhibit_31-2.htm |
| 10-Q - FORM 10Q - DECEMBER 31, 2009 - TOYOTA MOTOR CREDIT CORP | form10q_122009.htm |
EXHIBIT
12.1
TOYOTA
MOTOR CREDIT CORPORATION
CALCULATION
OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars
in millions)
|
Three
months ended
December
31,
|
Nine
months ended
December
31,
|
|||||
|
2009
|
2008
|
2009
|
2008
|
|||
|
Consolidated
income (loss) before provision for (benefit from) income
taxes
|
$642
|
($1,339)
|
$1,435
|
($626)
|
||
|
Fixed
charges:
|
||||||
|
Interest1
|
$438
|
$1,830
|
$1,555
|
$2,514
|
||
|
Portion
of rent expense representative of the interest
factor (deemed to be one-third)
|
2
|
2
|
6
|
6
|
||
|
Total
fixed charges
|
440
|
1,832
|
1,561
|
2,520
|
||
|
Earnings
available for fixed charges
|
$1,082
|
$493
|
$2,996
|
$1,894
|
||
|
Ratio
of earnings to fixed charges
|
2.46
|
(A)
|
1.92
|
(A)
|
||
1
Components of interest expense are discussed under “Item 2. Management’s
Discussion and Analysis of Financial Condition and Results of
Operations,
Interest Expense.”
(A) Due
to our losses in the third quarter and first nine months of fiscal 2009, the
ratio coverage was less than one to one in both periods. We
must
generate additional earnings of $1,339 million and $626 million, respectively,
to achieve coverage of one to one in these
periods.