EXHIBIT 12
CASE CREDIT CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN MILLIONS)
THREE MONTHS
ENDED MARCH 31,
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1997 1996
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Net Income.................................................... $ 22 $ 26
Add:
Interest expense............................................ 22 17
Amortization of capitalized debt expense.................... -- --
Portion of rentals representative of interest factor........ -- --
Income tax expense and other taxes on income................ 10 16
Fixed charges of unconsolidated subsidiaries................ -- --
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Earnings as defined....................................... $ 54 $ 59
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Interest expense.............................................. $ 22 $ 17
Amortization of capitalized debt expense...................... -- --
Portion of rentals representative of interest factor.......... -- --
Fixed charges of unconsolidated subsidiaries.................. -- --
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Fixed charges as defined.................................. $ 22 $ 17
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Ratio of earnings to fixed charges............................ 2.45x 3.47x
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