EX-12.(A) 4 dex12a.htm COMPUTATION OF RATIO OF EANINGS TO FIXED CHARGES Computation of Ratio of Eanings to Fixed Charges

EXHIBIT 12(a)

PACCAR and Subsidiaries

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

PURSUANT TO SEC REPORTING REQUIREMENTS

(Millions of Dollars)

 

     Nine Months Ended
September 30
     2009    2008

FIXED CHARGES

      

Interest expense - PACCAR and Subsidiaries (1)

    $ 229.3    $ 299.5

Portion of rentals deemed interest

      14.8      13.1
             

TOTAL FIXED CHARGES

    $ 244.1    $ 312.6
             
     

EARNINGS

      

Income before taxes - PACCAR and Subsidiaries (2)

    $ 81.3    $ 1,298.2

Fixed charges

      244.1      312.6
             

EARNINGS AS DEFINED

    $ 325.4    $ 1,610.8
             
     

RATIO OF EARNINGS TO FIXED CHARGES

      1.33X      5.15X
             

 

(1) Exclusive of interest, if any, paid to PACCAR.

 

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