EX-12 2 f09302015exhibit12.htm EXHIBIT 12 Exhibit


Exhibit 12


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

 
First Nine Months
2015
Earnings
 
Income before income taxes
$
7,132

Add/(Deduct):
 
Equity in net income of affiliated companies
(1,237
)
Dividends from affiliated companies
745

Fixed charges excluding capitalized interest
2,522

Amortization of capitalized interest
29

Earnings
$
9,191

 
 
Fixed Charges
 
Interest expense
$
2,407

Interest portion of rental expense (a)
115

Capitalized interest
7

Total fixed charges
$
2,529

 
 
Ratios
 
Ratio of earnings to fixed charges
3.6

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