PACCAR FINANCIAL CORP - FORM 10-Q - EX-12.(B) - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - May 6, 2011

Attached files

file filename
10-Q - QUARTERLY REPORT ON 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-32.(A) - SECTION 906 CERTIFICATIONS - PACCAR FINANCIAL CORPdex32a.htm
EX-31.(A) - SECTION 302 CEO CERTIFICATION - PACCAR FINANCIAL CORPdex31a.htm

EXHIBIT 12(b)

PACCAR FINANCIAL CORP. - FORM 10-Q

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

PURSUANT TO THE SUPPORT AGREEMENT

BETWEEN THE COMPANY AND PACCAR

(Millions of Dollars)

 

     Three months ended
March 31		  
     2011      2010  

FIXED CHARGES

      

Interest expense

    $ 16.8       $ 24.9   

Facility and equipment rental

      .5         .5   
                 
     

TOTAL FIXED CHARGES

    $ 17.3       $ 25.4   
                 
     

EARNINGS

      

Income before taxes

    $ 23.5       $ 8.0   

Depreciation

      32.5         37.7   
                 
     56.0         45.7   
     

FIXED CHARGES

      17.3         25.4   
                 
     

EARNINGS AS DEFINED

    $ 73.3       $ 71.1   
                 
     

RATIO OF EARNINGS TO FIXED CHARGES

      4.24X         2.80X   
                 

PACCAR FINANCIAL CORP Reports