EX-12 8 f03312017exhibit12.htm EXHIBIT 12 Exhibit


Exhibit 12


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

 
First Quarter
2017
Earnings
 
Income before income taxes
$
2,243

Add/(Deduct):
 
Equity in net income of affiliated companies
(346
)
Dividends from affiliated companies
54

Fixed charges excluding capitalized interest
1,065

Amortization of capitalized interest
10

Earnings
$
3,026

 
 
Fixed Charges
 
Interest expense
$
1,023

Interest portion of rental expense (a)
42

Capitalized interest
6

Total fixed charges
$
1,071

 
 
Ratios
 
Ratio of earnings to fixed charges
2.8

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