Paccar Financial 10-Q 2017 Q3 Quarterly report

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)

	Nine Months Ended
	September 30
		2017		2016
FIXED CHARGES
Interest expense	$	66.8	$	56.2
Facility and equipment rental		1.2		1.2
TOTAL FIXED CHARGES	$	68.0	$	57.4
EARNINGS
Income before income taxes	$	67.5	$	103.6
Depreciation		252.7		205.5
		320.2		309.1
FIXED CHARGES		68.0		57.4
EARNINGS AS DEFINED	$	388.2	$	366.5
RATIO OF EARNINGS TO FIXED CHARGES	5.71X		6.39X