Attached files
| file | filename |
|---|---|
| 10-K - FORM 10-K - XEROX CREDIT CORP | d10k.htm |
| EX-31.B - SECTION 302 CFO CERTIFICATION - XEROX CREDIT CORP | dex31b.htm |
| EX-31.A - SECTION 302 CEO CERTIFICATION - XEROX CREDIT CORP | dex31a.htm |
| EX-32 - SECTION 906 CERTIFICATION - XEROX CREDIT CORP | dex32.htm |
Exhibit 12
XEROX CREDIT CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions)
| Year Ended December 31, | |||||||||||||||
| 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||
| Income before income taxes |
$ | 35 | $ | 47 | $ | 67 | $ | 71 | $ | 70 | |||||
| Fixed Charges (1) |
4 | 9 | 20 | 32 | 49 | ||||||||||
| Earnings available for fixed charges |
$ | 39 | $ | 56 | $ | 87 | $ | 103 | $ | 119 | |||||
| Ratio of earnings to fixed charges (2) |
9.75 | 6.23 | 4.35 | 3.22 | 2.43 | ||||||||||
| (1) | Fixed charges consist of interest expense and gains or losses associated with derivative instruments economically hedging the debt. |
| (2) | The ratio of earnings to fixed charges has been computed by dividing total earnings available for fixed charges by total fixed charges. |
Xerox Corporation Support Agreement: The terms of a Support Agreement with XC provide that we will receive income maintenance payments, to the extent necessary, so that our earnings shall not be less than 1.25 times our fixed charges. Refer to Note 6 – Xerox Corporation Support Agreement to the Financial Statements for further information.
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