EX-12 3 f09302018exhibit12.htm EXHIBIT 12 Exhibit


Exhibit 12


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

 
First Nine
Months
2018
Earnings
 
Income before income taxes
$
4,362

Add/(Deduct):
 
Equity in net income of affiliated companies
(252
)
Dividends from affiliated companies
288

Fixed charges excluding capitalized interest
3,968

Amortization of capitalized interest
28

Earnings
$
8,394

 
 
Fixed Charges
 
Interest expense
$
3,829

Interest portion of rental expense (a)
139

Capitalized interest
30

Total fixed charges
$
3,998

 
 
Ratios
 
Ratio of earnings to fixed charges
2.1

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