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EXHIBIT 12(b)
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)
| Three months ended March 31 | ||||||
| 2010 | 2009 | |||||
FIXED CHARGES | ||||||
Interest expense | $ | 24.9 | $ | 34.2 | ||
Facility and equipment rental | .5 | .5 | ||||
TOTAL FIXED CHARGES | $ | 25.4 | $ | 34.7 | ||
EARNINGS | ||||||
Income before taxes | $ | 8.0 | $ | 17.3 | ||
Depreciation | 37.1 | 29.4 | ||||
| 45.1 | 46.7 | |||||
FIXED CHARGES | 25.4 | 34.7 | ||||
EARNINGS AS DEFINED | $ | 70.5 | $ | 81.4 | ||
RATIO OF EARNINGS TO FIXED CHARGES | 2.78X | 2.35X | ||||