EX-12 2 f09302016exhibit12.htm EXHIBIT 12 Exhibit


Exhibit 12


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

 
First Nine Months
2016
Earnings
 
Income before income taxes
$
7,913

Add/(Deduct):
 
Equity in net income of affiliated companies
(1,342
)
Dividends from affiliated companies
852

Fixed charges excluding capitalized interest
2,836

Amortization of capitalized interest
28

Earnings
$
10,287

 
 
Fixed Charges
 
Interest expense
$
2,719

Interest portion of rental expense (a)
117

Capitalized interest
21

Total fixed charges
$
2,857

 
 
Ratios
 
Ratio of earnings to fixed charges
3.6

__________
(a) One-third of all rental expense is deemed to be interest.