EX-12 4 f06302017exhibit12.htm EXHIBIT 12 Exhibit


Exhibit 12


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

 
First Half
2017
Earnings
 
Income before income taxes
$
4,502

Add/(Deduct):
 
Equity in net income of affiliated companies
(619
)
Dividends from affiliated companies
803

Fixed charges excluding capitalized interest
2,167

Amortization of capitalized interest
19

Earnings
$
6,872

 
 
Fixed Charges
 
Interest expense
$
2,082

Interest portion of rental expense (a)
85

Capitalized interest
15

Total fixed charges
$
2,182

 
 
Ratios
 
Ratio of earnings to fixed charges
3.1

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