EX-12.2 3 a05-17907_1ex12d2.htm STATEMENTS REGARDING COMPUTATION OF RATIOS

EXHIBIT 12.2

 

FORM 10-Q

PACCAR FINANCIAL CORP.

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

PURSUANT TO THE SUPPORT AGREEMENT

BETWEEN THE COMPANY AND PACCAR

(Millions of Dollars)

 

 

 

Nine Months Ended
September 30

 

 

 

2005

 

2004

 

 

 

 

 

 

 

FIXED CHARGES

 

 

 

 

 

Interest expense

 

$

70.2

 

$

48.9

 

Facility and equipment rental

 

1.5

 

1.4

 

 

 

 

 

 

 

TOTAL FIXED CHARGES

 

$

71.7

 

$

50.3

 

 

 

 

 

 

 

EARNINGS

 

 

 

 

 

Income before taxes

 

$

89.0

 

$

81.5

 

Depreciation

 

49.6

 

31.9

 

 

 

 

 

 

 

 

 

138.6

 

113.4

 

Fixed charges

 

71.7

 

50.3

 

 

 

 

 

 

 

EARNINGS AS DEFINED

 

$

210.3

 

$

163.7

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES

 

2.93

X

3.25

X

 

1