1
EXHIBIT 12.4
PACCAR Financial Corp.
COMPUTATION OF RATIOS FOR ALLOWANCE FOR LOSSES
ON RECEIVABLES AND PAST DUE LEVELS
(Thousands of Dollars)
Nine Months Ended
September 30
1994 1993
--------------------------------
Net credit losses (recoveries) $ (2,012) $ 3,505
Allowance for losses at end of period 27,260 22,660
Average finance receivables and
equipment on operating leases 1,571,868 1,269,899
Period end finance receivables and equipment
on operating leases 1,661,010 1,398,223
Period end gross retail contracts and operating
lease receivables past due over 60 days (1) 4,451 6,714
Period end gross retail contracts and operating
lease receivables (1) 1,433,668 1,173,086
Ratios:
Net credit losses (recoveries) to
average finance receivables and
equipment on operating leases (2) (.17%) .37%
Allowance for losses to period end
finance receivables and equipment on
operating leases 1.64% 1.62%
Period end gross retail contracts and operating
lease receivables past due over 60 days to period end
gross retail contracts and operating lease receivables .31% .57%
(1) Retail contracts are exclusive of Pledge Line receivables. Operating
lease receivables are the future miniumum rental payments on equipment
under operating leases.
(2) Annualized.
-13-