Paccar Financial 10-Q2010 Q1 Quarterly report

Filed: 5 May 10, 12:00am

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New words: AA, achieved, aged, approach, April, attributable, challenge, DAF, excellent, favorable, forward, immaterial, impaired, impairment, Improving, intend, inventory, Kenworth, larger, matrix, million, outlined, outlook, Peterbilt, position, quality, settled, settlement, spot, stability, substantial, Substantially, term

Removed: annually, approved, Bank, cap, damage, dependent, discontinued, existing, extent, February, federal, file, generation, integral, manage, mature, maturity, maximum, note, October, parent, participate, physical, program, qualify, remain, retained, spread, York

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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

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