EXHIBIT 12
CASE CREDIT CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN MILLIONS)
(UNAUDITED)
NINE MONTHS
-----------
ENDED
-----
SEPTEMBER 30,
-------------
1996
----
Net Income................................................ $ 65
Add:
Interest expense........................................ 53
Amortization of capitalized debt expense................ 2
Portion of rentals representative of interest factor.... -
Income tax expense and other taxes on income............ 37
Fixed charges of unconsolidated subsidiaries............ -
Extraordinary loss...................................... 3
----
Earnings as defined.................................. $160
----
Interest expense.......................................... $ 53
Amortization of capitalized debt expense.................. 2
Portion of rentals representative of interest factor...... -
Fixed charges of unconsolidated subsidiaries.............. -
----
Fixed charges as defined............................. $ 55
----
Ratio of earnings to fixed charges........................ 2.91