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Content analysis
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- 10-K Annual report
- 3 Articles of Incorporation and By-laws
- 4 Instruments Defining the Rights of Security Holders
- 10 Material Contracts
- 10.79 Compensation Committee of the Board of Directors
- 10.80 Form of Premium Share Unit Certificate, As Amended.
- 10.81 Form of Premium Share Deferral Election Form
- 10.82 Navistar Inter. Corp. Amended and Restated Executive Stock Ownership Program
- 10.83 Navistar Inter. Corp. Non-employee Directors' Deferred Fee Plan
- 10.84 Navistar Inter. Corp. 2004 Performance Incentive Plan, As Amended.
- 10.85 Compensation Committee and Board of Directors Approval
- 10.86 First Amend. to the Navistar, Inc. Supplemental Retirement Accumulation Plan
- 12 Computation of Ratio of Earnings to Fixed Charges
- 21 Subsidiaries of the Registrant
- 23 Consent of Independent Registered Public Accounting Firm
- 24 Power of Attorney
- 31.1 CEO Certification Pursuant to Section 302
- 31.2 CFO Certification Pursuant to Section 302
- 32.1 CEO Certification Pursuant to Section 906
- 32.2 CFO Certification Pursuant to Section 906
- 99.1 Additional Financial Information (Unaudited)
EXHIBIT 12
Computation of Ratio of Earnings to Fixed Charges
The computation of Ratio of Earnings to Fixed Charges as shown on this Exhibit 12 is provided pursuant to Items 503(d) and 601(12) of Regulation S-K. The Ratio of Earnings to Fixed Charges is not calculated consistently with the fixed charge coverage ratios that may be required under certain covenants of the Company’s debt agreements. As of October 31, 2008, the Company was in compliance with its loan covenants. See Note 10,Debt, to the accompanying consolidated financial statements.
2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||||
(in millions) | |||||||||||||||||
Income (loss) before income tax (expense) benefit | $ | 191 | $ | (73 | ) | $ | 395 | $ | 145 | $ | (35 | ) | |||||
Interest expense(A) | 456 | 493 | 418 | 300 | 219 | ||||||||||||
Debt amortization expense | 13 | 9 | 13 | 8 | 18 | ||||||||||||
Interest portion of rent expense (33%) | 17 | 17 | 15 | 15 | 13 | ||||||||||||
Total earnings | 677 | 446 | 841 | 468 | 215 | ||||||||||||
Capitalized interest | 5 | 7 | 6 | 1 | 1 | ||||||||||||
Interest expense(A) | 473 | 510 | 433 | 315 | 232 | ||||||||||||
Debt amortization expense | 13 | 9 | 13 | 8 | 18 | ||||||||||||
Total fixed charges | 491 | 526 | 452 | 324 | 251 | ||||||||||||
Ratio of earnings to fixed charges | 1.38 | 0.85 | 1.86 | 1.45 | 0.86 | ||||||||||||
Earnings shortfall | — | (80 | ) | — | — | (36 | ) |
(A) | Excludes interest expense on income tax contingencies. |
E-47