FORD MOTOR CREDIT CO LLC - FORM 10-K - EX-12 - EXHIBIT 12 - February 11, 2016

Attached files

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10-K - 10-K - FORD MOTOR CREDIT CO LLCfmcc1231201510-k.htm
EX-23 - EXHIBIT 23 - FORD MOTOR CREDIT CO LLCfmcc12312015ex23.htm
EX-24 - EXHIBIT 24 - FORD MOTOR CREDIT CO LLCfmcc12312015ex24.htm
EX-24.2 - EXHIBIT 24.2 - FORD MOTOR CREDIT CO LLCfmcc12312015ex242.htm
EX-24.3 - EXHIBIT 24.3 - FORD MOTOR CREDIT CO LLCfmcc12312015ex243.htm
EX-31.1 - EXHIBIT 31.1 - FORD MOTOR CREDIT CO LLCfmcc12312015ex311.htm
EX-31.2 - EXHIBIT 31.2 - FORD MOTOR CREDIT CO LLCfmcc12312015ex312.htm
EX-32.1 - EXHIBIT 32.1 - FORD MOTOR CREDIT CO LLCfmcc12312015ex321.htm
EX-32.2 - EXHIBIT 32.2 - FORD MOTOR CREDIT CO LLCfmcc12312015ex322.htm
10-K - PRINTABLE PDF OF FORM 10-K - FORD MOTOR CREDIT CO LLCfmcc1231201510k.pdf


Exhibit 12

FORD MOTOR CREDIT COMPANY LLC AND SUBSIDIARIES
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions)

 
 
2015
 
2014
 
2013
 
2012
 
2011
Earnings
 
 
 
 
 
 
 
 
 
 
Income before income taxes
 
$
2,086

 
$
1,854

 
$
1,756

 
$
1,697

 
$
2,404

Add/(Deduct):
 
 
 
 
 
 
 
 
 
 
Equity in net income of affiliated companies
 
(32
)
 
(29
)
 
(23
)
 
(33
)
 
(21
)
Dividends from affiliated companies
 
1

 
1

 
9

 
36

 
—

Fixed charges excluding capitalized interest
 
2,425

 
2,665

 
2,739

 
3,036

 
3,518

Earnings
 
$
4,480

 
$
4,491

 
$
4,481

 
$
4,736

 
$
5,901

 
 
 
 
 
 
 
 
 
 
 
Fixed charges
 
 
 
 
 
 
 
 
 
 
Interest expense
 
$
2,416

 
$
2,656

 
$
2,730

 
$
3,027

 
$
3,507

Interest portion of rental expense (a)
 
9

 
9

 
9

 
9

 
11

Capitalized interest
 
1

 
1

 
1

 
—

 
—

Total fixed charges
 
$
2,426

 
$
2,666

 
$
2,740

 
$
3,036

 
$
3,518

 
 
 
 
 
 
 
 
 
 
 
Ratios
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
1.8

 
1.7

 
1.6

 
1.6

 
1.7

__________
(a)
One-third of rental expense is deemed to be interest.


FORD MOTOR CREDIT CO LLC Reports