EX-12 3 f09302017exhibit12.htm EXHIBIT 12 Exhibit


Exhibit 12


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

 
First Nine Months
2017
Earnings
 
Income before income taxes
$
6,259

Add/(Deduct):
 
Equity in net income of affiliated companies
(935
)
Dividends from affiliated companies
891

Fixed charges excluding capitalized interest
3,318

Amortization of capitalized interest
28

Earnings
$
9,561

 
 
Fixed Charges
 
Interest expense
$
3,189

Interest portion of rental expense (a)
129

Capitalized interest
24

Total fixed charges
$
3,342

 
 
Ratios
 
Ratio of earnings to fixed charges
2.9

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