Exhibit 12

FORD MOTOR COMPANY AND SUBSIDIARIES

CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES

(in millions)

	First Quarter 2015
Earnings
Income before income taxes	$	1,405
Add/(Deduct):
Equity in net income of affiliated companies	(437		)
Dividends from affiliated companies	80
Fixed charges excluding capitalized interest	851
Amortization of capitalized interest	10
Earnings	$	1,909
Fixed Charges
Interest expense	$	812
Interest portion of rental expense (a)	39
Capitalized interest	5
Total fixed charges	$	856
Ratios
Ratio of earnings to fixed charges	2.2

__________

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