EX-12.(B) 3 a08-18611_1ex12db.htm EX-12.(B)

EXHIBIT 12(b)

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

PURSUANT TO THE SUPPORT AGREEMENT

BETWEEN THE COMPANY AND PACCAR

(Millions of Dollars)

 

 

 

Six Months Ended

 

 

 

June 30

 

 

 

2008

 

2007

 

 

 

 

 

 

 

FIXED CHARGES

 

 

 

 

 

Interest expense

 

$

84.4

 

$

99.7

 

Facility and equipment rental

 

1.1

 

1.1

 

 

 

 

 

 

 

TOTAL FIXED CHARGES

 

$

85.5

 

$

100.8

 

 

 

 

 

 

 

EARNINGS

 

 

 

 

 

Income before taxes

 

$

42.5

 

$

66.6

 

Depreciation

 

48.4

 

44.1

 

 

 

90.9

 

110.7

 

 

 

 

 

 

 

FIXED CHARGES

 

85.5

 

100.8

 

 

 

 

 

 

 

EARNINGS AS DEFINED

 

$

176.4

 

$

211.5

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES

 

2.06X

 

2.10X