EX-12 3 f06302018exhibit12.htm EXHIBIT 12 Exhibit


Exhibit 12


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

 
First Half
2018
Earnings
 
Income before income taxes
$
3,268

Add/(Deduct):
 
Equity in net income of affiliated companies
(284
)
Dividends from affiliated companies
228

Fixed charges excluding capitalized interest
2,591

Amortization of capitalized interest
19

Earnings
$
5,822

 
 
Fixed Charges
 
Interest expense
$
2,499

Interest portion of rental expense (a)
92

Capitalized interest
21

Total fixed charges
$
2,612

 
 
Ratios
 
Ratio of earnings to fixed charges
2.2

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