EX-12 2 fmcc12312012ex12.htm EXHIBIT FMCC 12.31.2012 EX 12


Exhibit 12

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

 
 
2012
 
2011
 
2010
 
2009
 
2008
Earnings
 
 
 
 
 
 
 
 
 
 
Income/(Loss) before income taxes
 
$
1,697

 
$
2,404

 
$
3,054

 
$
2,001

 
$
(2,559
)
Add/(Deduct):
 
 
 
 
 
 
 
 
 
 
Equity in net income of affiliated companies
 
(33
)
 
(21
)
 
(12
)
 
(1
)
 
(8
)
Dividends from affiliated companies
 
36

 
—

 
—

 
—

 
—

Fixed charges
 
3,036

 
3,518

 
4,233

 
5,174

 
7,648

Earnings
 
$
4,736

 
$
5,901

 
$
7,275

 
$
7,174

 
$
5,081

 
 
 
 
 
 
 
 
 
 
 
Fixed charges
 
 
 
 
 
 
 
 
 
 
Interest expense
 
$
3,027

 
$
3,507

 
$
4,222

 
$
5,162

 
$
7,634

Interest portion of rental expense (a)
 
9

 
11

 
11

 
12

 
14

Total fixed charges
 
$
3,036

 
$
3,518

 
$
4,233

 
$
5,174

 
$
7,648

 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
1.56

 
1.68

 
1.72

 
1.39

 
(b)
__________
 
 
 
 
 
 
 
 
 
 
(a) One-third of all rental expense is deemed to be interest.
(b) Earnings were inadequate to cover fixed interest charges by $2,567 million.