Harley-Davidson (HOG) 8-K Other Events

Exhibit 12

Harley-Davidson, Inc.

Computation of Ratio of

Earnings to Fixed Charges

In millions

	Three months ended March 29, 2015
Income from continuing operations before provision for income taxes	$	411.4
Add: Fixed charges		48.2
Add: Amortization of capitalized interest		0.2
Less: Capitalized interest		0.5
Earnings	$	459.3
Fixed charges:
Interest incurred and amortization of debt issue costs	$	47.8
Estimate of interest within rental expense		0.4
	$	48.2
Ratio		9.5