Attached files
file | filename |
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10-K - FORM 10-K - PACCAR FINANCIAL CORP | d45139d10k.htm |
EX-23 - EX-23 - PACCAR FINANCIAL CORP | d45139dex23.htm |
EX-32.A - EX-32.A - PACCAR FINANCIAL CORP | d45139dex32a.htm |
EX-31.A - EX-31.A - PACCAR FINANCIAL CORP | d45139dex31a.htm |
EX-31.B - EX-31.B - PACCAR FINANCIAL CORP | d45139dex31b.htm |
EX-12.A - EX-12.A - PACCAR FINANCIAL CORP | d45139dex12a.htm |
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 | ||||||||||||||||||||
2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||
FIXED CHARGES |
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Interest expense |
$ | 60.2 | $ | 53.4 | $ | 58.9 | $ | 59.2 | $ | 64.0 | ||||||||||
Facility and equipment rental |
1.6 | 1.6 | 1.5 | 1.5 | 1.9 | |||||||||||||||
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TOTAL FIXED CHARGES |
$ | 61.8 | $ | 55.0 | $ | 60.4 | $ | 60.7 | $ | 65.9 | ||||||||||
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EARNINGS |
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Income before income taxes |
$ | 182.2 | $ | 175.0 | $ | 159.4 | $ | 133.6 | $ | 112.4 | ||||||||||
Depreciation |
246.6 | 232.3 | 210.0 | 180.6 | 148.1 | |||||||||||||||
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428.8 | 407.3 | 369.4 | 314.2 | 260.5 | ||||||||||||||||
FIXED CHARGES |
61.8 | 55.0 | 60.4 | 60.7 | 65.9 | |||||||||||||||
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EARNINGS AS DEFINED |
$ | 490.6 | $ | 462.3 | $ | 429.8 | $ | 374.9 | $ | 326.4 | ||||||||||
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RATIO OF EARNINGS TO FIXED CHARGES |
7.94x | 8.41x | 7.12x | 6.18x | 4.95x | |||||||||||||||
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