EXHIBIT 12.2
PACCAR Financial Corp.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
PURSUANT TO THE SUPPORT AGREEMENT
BETWEEN THE COMPANY AND PACCAR INC
(Thousands of Dollars)
Three Months Ended
March 31
1997 1996
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FIXED CHARGES
Interest expense $24,608 $24,675
Facility and equipment rental 178 177
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TOTAL FIXED CHARGES $24,786 $24,852
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EARNINGS
Income before taxes $12,744 $13,152
Depreciation 2,080 2,522
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14,824 15,674
Fixed charges 24,786 24,852
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EARNINGS AS DEFINED $39,610 $40,526
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RATIO OF EARNINGS TO FIXED CHARGES 1.60X 1.63X
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