EX-12 12 f12312012exhibit12.htm EXHIBIT F 12.31.2012 Exhibit 12


Exhibit 12


FORD MOTOR COMPANY AND SUBSIDIARIES
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions)

 

2012
 
2011
 
2010
 
2009
 
2008
Earnings
 
 
 
 
 
 
 
 
 
Income/(Loss) before income taxes
$
7,720

 
$
8,681

 
$
7,149

 
$
2,599

 
$
(14,895
)
Add/(Deduct):
 
 
 
 
 
 
 
 
 
Equity in net income of affiliated companies
(588
)
 
(500
)
 
(538
)
 
(195
)
 
(382
)
Dividends from affiliated companies
593

 
316

 
337

 
299

 
411

Fixed charges excluding capitalized interest
3,998

 
4,611

 
6,356

 
7,048

 
10,059

Amortization of capitalized interest
44

 
46

 
48

 
49

 
48

Earnings/(Losses)
$
11,767

 
$
13,154

 
$
13,352

 
$
9,800

 
$
(4,759
)
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
Interest expense
$
3,828

 
$
4,431

 
$
6,152

 
$
6,790

 
$
9,737

Interest portion of rental expense (a)
170

 
180

 
204

 
258

 
322

Capitalized interest
4

 
31

 
21

 
28

 
50

Total fixed charges
$
4,002

 
$
4,642

 
$
6,377

 
$
7,076

 
$
10,109

 
 
 
 
 
 
 
 
 
 
Ratios
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
2.9

 
2.8

 
2.1

 
1.4

 
(b)
__________
(a) One-third of all rental expense is deemed to be interest.
(b) Earnings/(Losses) were inadequate to cover fixed interest charges in 2008 by $14.9 billion.