EX-12.C 4 a07-10668_1ex12dc.htm EX-12.C

EXHIBIT 12(c)

PACCAR and Subsidiaries

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

PURSUANT TO SEC REPORTING REQUIREMENTS

(Millions of Dollars)

 

 

Three Months Ended

 

 

 

March 31

 

 

 

2007

 

2006

 

FIXED CHARGES

 

 

 

 

 

Interest expense - PACCAR and Subsidiaries (1)

 

$

89.3

 

$

65.0

 

Portion of rentals deemed interest

 

4.3

 

4.5

 

 

 

 

 

 

 

TOTAL FIXED CHARGES

 

$

93.6

 

$

69.5

 

 

 

 

 

 

 

EARNINGS

 

 

 

 

 

Income before taxes - PACCAR and Subsidiaries (2)

 

$

537.7

 

$

500.7

 

Fixed charges

 

93.6

 

69.5

 

 

 

 

 

 

 

EARNINGS AS DEFINED

 

$

631.3

 

$

570.2

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES

 

6.74X

 

8.20X

 

 

(1) Exclusive of interest, if any, paid to PACCAR.

(2) Includes before tax earnings of wholly owned subsidiaries.