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7th grade Avg
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New words:
Beginning, Brice, Bulletin, criteria, deferred, entity, existing, expect, expected, FASB, favorable, FIN, interpretation, noncontrolled, ownership, Poplawski, position, Research, type, unable, utilized, Variable, VIE
Removed:
Barry, industry, issuance, local, national, political, Prather
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EXHIBIT 12.2
FORM 10-Q
PACCAR FINANCIAL CORP.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
PURSUANT TO THE SUPPORT AGREEMENT
BETWEEN THE COMPANY AND PACCAR
(Millions of Dollars)
|
| Nine Months Ended |
| ||||
|
| 2003 |
| 2002 |
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FIXED CHARGES |
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Interest expense |
| $ | 61.8 |
| $ | 89.1 |
|
Facility and equipment rental |
| 1.3 |
| 1.2 |
| ||
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TOTAL FIXED CHARGES |
| $ | 63.1 |
| $ | 90.3 |
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EARNINGS |
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Income before income taxes |
| $ | 55.7 |
| $ | 27.1 |
|
Depreciation | 20.1 | 10.8 | |||||
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|
| 75.8 |
| 37.9 |
| ||
Fixed charges |
| 63.1 |
| 90.3 |
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EARNINGS AS DEFINED |
| $ | 138.9 |
| $ | 128.2 |
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RATIO OF EARNINGS TO FIXED CHARGES |
| 2.20 | x | 1.42 | x | ||
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