Attached files
| file | filename |
|---|---|
| 10-K - 10-K - AMERICAN HONDA FINANCE CORP | ahfc-10k_20150331.htm |
| EX-32 - EX-32.1 - AMERICAN HONDA FINANCE CORP | ahfc-ex32_201503316.htm |
| EX-23 - EX-23.1 - AMERICAN HONDA FINANCE CORP | ahfc-ex23_201503319.htm |
| EX-31 - EX-31.1 - AMERICAN HONDA FINANCE CORP | ahfc-ex31_201503318.htm |
| EX-31 - EX-31.2 - AMERICAN HONDA FINANCE CORP | ahfc-ex31_2015033110.htm |
| EX-32 - EX-32.2 - AMERICAN HONDA FINANCE CORP | ahfc-ex32_2015033111.htm |
Exhibit 12.1
American Honda Finance Corporation and Subsidiaries
Calculation of Ratio of Earnings to Fixed Charges
(U.S. dollars in millions)
|
|
Years ended March 31, |
|
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|
2015 |
|
|
2014 |
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|
2013 |
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Earnings |
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated income before provision for income taxes |
$ |
1,552 |
|
|
$ |
1,445 |
|
|
$ |
1,652 |
|
|
Fixed Charges |
|
584 |
|
|
|
641 |
|
|
|
810 |
|
|
Earnings |
$ |
2,136 |
|
|
$ |
2,086 |
|
|
$ |
2,462 |
|
|
Fixed Charges |
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense |
$ |
580 |
|
|
$ |
637 |
|
|
$ |
806 |
|
|
Interest portion of rental expense (1) |
|
4 |
|
|
|
4 |
|
|
|
4 |
|
|
Total fixed charges |
$ |
584 |
|
|
$ |
641 |
|
|
$ |
810 |
|
|
Ratio of earnings to fixed charges |
3.66x |
|
|
3.25x |
|
|
3.04x |
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(1) |
One-third of all rental expense is deemed to be interest. |