PACCAR FINANCIAL CORP - FORM 10-Q - EX-12.(A) - STATEMENTS RE COMPUTATION OF RATIOS: SEC REPORTING REQUIREMENTS - November 8, 2010

Attached files

file filename
10-Q - QUARTERLY REPORT ON FORM 10-Q - PACCAR FINANCIAL CORPd10q.htm
EX-32 - SECTION 906 CEO AND CFO CERTIFICATION - PACCAR FINANCIAL CORPdex32.htm
EX-31.(A) - SECTION 302 CEO CERTIFICATION - PACCAR FINANCIAL CORPdex31a.htm
EX-12.(B) - STATEMENTS RE COMPUTATION OF RATIOS: SUPPORT AGREEMENT - PACCAR FINANCIAL CORPdex12b.htm
EX-31.(B) - SECTION 302 CFO CERTIFICATION - PACCAR FINANCIAL CORPdex31b.htm

 

EXHIBIT 12(a)

FORM 10-Q

PACCAR FINANCIAL CORP.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

PURSUANT TO SEC REPORTING REQUIREMENTS (1)

(Millions of Dollars)

 

     Nine months ended
September 30		  
     2010        2009  

FIXED CHARGES

        

Interest expense

    $ 70.6         $ 99.0   

Portion of rentals deemed interest

      1.2           1.3   
                   
       

TOTAL FIXED CHARGES

    $ 71.8         $ 100.3   
                   
       

EARNINGS

        

Income before income taxes

    $ 39.3         $ 30.1   

Fixed charges

      71.8           100.3   
                   
       

EARNINGS AS DEFINED

    $ 111.1         $ 130.4   
                   
       

RATIO OF EARNINGS TO FIXED CHARGES

      1.55X           1.30X   
                   

 

(1) The method of computing the ratio of earnings to fixed charges shown above complies with SEC reporting requirements but differs from the method called for in the Support Agreement between the Company and PACCAR as shown in Exhibit 12(b).

PACCAR FINANCIAL CORP Reports