Paccar Financial 10-Q2013 Q1 Quarterly report

Filed: 8 May 13, 12:00am

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New words: accrual, acquisition, AOCI, arrangement, capacity, deemed, diversified, enforceable, Equity, expanded, implementation, indirect, January, lending, matrix, nature, position, potential, reclassification, repurchase, Scope, Stockholder, TDR, weaker, Write

Removed: accounted, Achieve, amended, Corporation, criteria, declined, dissolved, evaluating, Excluding, fuel, grow, guidance, intended, making, merger, modeling, PFSC, pooling, previously, projected, reduced, reduction, referenced, runoff, September, subdivided, subdivision, Topic, transferred, vehicle

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PACCAR FINANCIAL CORP. - FORM 10-Q

EXHIBIT 12(b)

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
	2013		2012
FIXED CHARGES
Interest expense	$	14.9	$	14.7
Facility and equipment rental		.4		.4


TOTAL FIXED CHARGES		15.3	$	15.1


EARNINGS
Income before income taxes	$	36.6	$	31.8
Depreciation		48.9		40.6

		85.5		72.4

FIXED CHARGES		15.3		15.1


EARNINGS AS DEFINED	$	100.8	$	87.5


RATIO OF EARNINGS TO FIXED CHARGES		6.59X		5.79X

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