EX-12.2 3 a06-21515_1ex12d2.htm EX-12

EXHIBIT 12.2

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

 

 

 

2006

 

2005

 

 

 

 

 

 

 

FIXED CHARGES

 

 

 

 

 

Interest expense

 

$

116.6

 

$

70.2

 

Facility and equipment rental

 

1.5

 

1.5

 

 

 

 

 

 

 

TOTAL FIXED CHARGES

 

$

118.1

 

$

71.7

 

 

 

 

 

 

 

EARNINGS

 

 

 

 

 

Income before taxes

 

$

101.5

 

$

89.0

 

Depreciation

 

57.7

 

49.6

 

 

 

159.2

 

138.6

 

 

 

 

 

 

 

Fixed charges

 

118.1

 

71.7

 

EARNINGS AS DEFINED

 

$

277.3

 

$

210.3

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES

 

2.35X

 

2.93X