EX-12 2 fmcc12312017ex12.htm EXHIBIT 12 Exhibit


Exhibit 12

FORD MOTOR CREDIT COMPANY LLC AND SUBSIDIARIES
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions)

 
2013
 
2014
 
2015
 
2016
 
2017
Earnings
 
 
 
 
 
 
 
 
 
Income before income taxes
$
1,756

 
$
1,854

 
$
2,086

 
$
1,879

 
$
2,310

Add/(Deduct):
 
 
 
 
 
 
 
 
 
Equity in net income of affiliated companies
(23
)
 
(29
)
 
(32
)
 
(33
)
 
(32
)
Dividends from affiliated companies
9

 
1

 
1

 
3

 
4

Fixed charges excluding capitalized interest
2,739

 
2,665

 
2,425

 
2,764

 
3,184

Earnings
$
4,481

 
$
4,491

 
$
4,480

 
$
4,613

 
$
5,466

 
 
 
 
 
 
 
 
 
 
Fixed charges
 
 
 
 
 
 
 
 
 
Interest expense
$
2,730

 
$
2,656

 
$
2,416

 
$
2,755

 
$
3,175

Interest portion of rental expense
9

 
9

 
9

 
9

 
9

Capitalized interest
1

 
1

 
1

 
1

 
1

Total fixed charges
$
2,740

 
$
2,666

 
$
2,426

 
$
2,765

 
$
3,185

 
 
 
 
 
 
 
 
 
 
Ratios
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
1.6

 
1.7

 
1.8

 
1.7

 
1.7