EX-12 2 fmcc06302011ex12.htm EXHIBIT 12 FMCC 06.30.2011 EX 12


Exhibit 12

FORD MOTOR CREDIT COMPANY LLC AND SUBSIDIARIES
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES

 
First Half
 
For the Years Ended December 31,
 
2011
 
2010
 
2009
 
2008
 
(in millions)
Earnings
 
 
 
 
 
 
 
Income/(Loss) before income taxes
$
1,317

 
$
3,054

 
$
2,001

 
$
(2,559
)
Less: Equity in net income of
 
 
 
 
 
 
 
affiliated companies
11

 
12

 
1

 
8

Fixed charges
1,794

 
4,233

 
5,174

 
7,648

Earnings before fixed charges
$
3,100

 
$
7,275

 
$
7,174

 
$
5,081

 
 
 
 
 
 
 
 
Fixed charges (a)
 
 
 
 
 
 
 
Interest expense
$
1,788

 
$
4,222

 
$
5,162

 
$
7,634

Rents
6

 
11

 
12

 
14

Total fixed charges
$
1,794

 
$
4,233

 
$
5,174

 
$
7,648

 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
1.73

 
1.72

 
1.39

 
(b)

 
 
 
 
 
 
 
 
(a) Consists of interest on borrowed funds, amortization of debt discount, premium, and issuance expense, and one-third of all rental expense (the proportion deemed representative of the interest factor).
(b) Earnings inadequate to cover fixed charges by $2,567 million.