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

Attached files

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


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