EX-12 5 f03312018exhibit12.htm EXHIBIT 12 Exhibit


Exhibit 12


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

 
First Quarter
2018
Earnings
 
Income before income taxes
$
1,919

Add/(Deduct):
 
Equity in net income of affiliated companies
(224
)
Dividends from affiliated companies
193

Fixed charges excluding capitalized interest
1,247

Amortization of capitalized interest
10

Earnings
$
3,145

 
 
Fixed Charges
 
Interest expense
$
1,201

Interest portion of rental expense (a)
46

Capitalized interest
11

Total fixed charges
$
1,258

 
 
Ratios
 
Ratio of earnings to fixed charges
2.5

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