Exhibit 12

Harley-Davidson, Inc.

Computation of Ratio of

Earnings to Fixed Charges

In millions	Nine Months
	2008		2007		2006		2005		2004		2003
Income before provision for income tax	$	910.7	$	1,447.8	$	1,624.2	$	1,487.8	$	1,379.5	$	1,166.0
Add: Fixed charges		93.4		84.3		62.2		38.0		24.5		19.8
Add: Amortization of capitalized interest		0.6		0.8		0.8		0.9		0.9		0.6
Less: Capitalized interest		1.6		1.3		0.3		—		—		3.9
Earnings	$	1,003.2	$	1,531.6	$	1,687.0	$	1,526.6	$	1,404.9	$	1,182.6
Fixed charges:
Interest incurred and amortization of debt issue costs	$	91.3	$	81.5	$	59.8	$	36.2	$	22.7	$	17.6
Estimate of interest within rental expense		2.1		2.8		2.4		1.8		1.8		2.2
	$	93.4	$	84.3	$	62.2	$	38.0	$	24.5	$	19.8
Ratio		10.7		18.2		27.1		40.2		57.3		59.6