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?Positive | ||
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Constraining | ||
Legalese | ||
Litigous | ||
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7th grade Avg
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New words:
AOCL, improved, improvement, incidental, party, reduced, refinancing, repaid, routine
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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 | ||||||||
2014 | 2013 | |||||||
FIXED CHARGES | ||||||||
Interest expense | $ | 13.9 | $ | 14.9 | ||||
Facility and equipment rental | .4 | .4 | ||||||
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TOTAL FIXED CHARGES | 14.3 | $ | 15.3 | |||||
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EARNINGS | ||||||||
Income before income taxes | $ | 39.9 | $ | 36.6 | ||||
Depreciation | 55.2 | 48.9 | ||||||
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95.1 | 85.5 | |||||||
FIXED CHARGES | 14.3 | 15.3 | ||||||
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EARNINGS AS DEFINED | $ | 109.4 | $ | 100.8 | ||||
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RATIO OF EARNINGS TO FIXED CHARGES | 7.65X | 6.59X | ||||||
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