Attached files
Exhibit 12(b)
PACCAR Financial Corp.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
PURSUANT TO THE SUPPORT AGREEMENT
BETWEEN THE COMPANY AND PACCAR
(Millions of Dollars)
Year ended December 31 | ||||||||||||||||||||
2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||
FIXED CHARGES |
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Interest expense |
$ | 90.5 | $ | 126.2 | $ | 160.1 | $ | 199.0 | $ | 163.9 | ||||||||||
Facility and equipment rental |
2.1 | 2.1 | 2.3 | 2.1 | 2.0 | |||||||||||||||
TOTAL FIXED CHARGES |
$ | 92.6 | $ | 128.3 | $ | 162.4 | $ | 201.1 | $ | 165.9 | ||||||||||
EARNINGS |
||||||||||||||||||||
Income before taxes |
$ | 63.2 | $ | 44.8 | $ | 71.6 | $ | 133.4 | $ | 136.3 | ||||||||||
Depreciation |
132.4 | 122.3 | 107.8 | 90.3 | 79.2 | |||||||||||||||
195.6 | 167.1 | 179.4 | 223.7 | 215.5 | ||||||||||||||||
FIXED CHARGES |
92.6 | 128.3 | 162.4 | 201.1 | 165.9 | |||||||||||||||
EARNINGS AS DEFINED |
$ | 288.2 | $ | 295.4 | $ | 341.8 | $ | 424.8 | $ | 381.4 | ||||||||||
RATIO OF EARNINGS TO FIXED CHARGES |
3.11x | 2.30x | 2.10x | 2.11x | 2.30x | |||||||||||||||