EX-12.(B) 4 a09-12456_1ex12db.htm EX-12(B)

Exhibit 12(b)

 

PACCAR Inc and Subsidiaries

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

PURSUANT TO SEC REPORTING REQUIREMENTS

(Millions of Dollars)

 

 

 

Year ended December 31

 

 

 

2008

 

2007

 

2006

 

2005

 

2004

 

 

 

 

 

 

 

 

 

 

 

 

 

FIXED CHARGES

 

 

 

 

 

 

 

 

 

 

 

Interest expense - PACCAR and subsidiaries (1)

 

$

391.1

 

$

387.0

 

$

303.6

 

$

187.8

 

$

134.3

 

Portion of rentals deemed interest

 

17.9

 

17.5

 

17.4

 

18.0

 

14.4

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL FIXED CHARGES

 

$

409.0

 

$

404.5

 

$

321.0

 

$

205.8

 

$

148.7

 

 

 

 

 

 

 

 

 

 

 

 

 

EARNINGS

 

 

 

 

 

 

 

 

 

 

 

Income before taxes - PACCAR and Subsidiaries (2)

 

$

1,464.0

 

$

1,764.3

 

$

2,175.3

 

$

1,773.6

 

$

1,368.2

 

FIXED CHARGES

 

409.0

 

404.5

 

321.0

 

205.8

 

148.7

 

 

 

 

 

 

 

 

 

 

 

 

 

EARNINGS AS DEFINED

 

$

1,873.0

 

$

2,168.8

 

$

2,496.3

 

$

1,979.4

 

$

1,516.9

 

 

 

 

 

 

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES

 

4.58

x

5.36

x

7.78

x

9.62

x

10.20

x

 

(1)        Exclusive of interest paid to PACCAR.

 

(2)        Includes before-tax earnings of wholly-owned subsidiaries.