EX-12.1 5 a2076961zex-12_1.txt RATIO OF EARNINGS TO FIXED CHARGES NAVISTAR FINANCIAL CORPORATION RATIO OF EARNING TO FIXED CHARGES
JANUARY 31, OCTOBER 31, 2002 2001 2001 2000 1999 1998 1997 --------------- ------------------------------------------------ (in millions of dollars) Pretax income from continuing operations 27 21 72 92 96 79 69 Interest expense 14 30 93 104 89 81 66 Debt expense amortization 1 1 4 2 2 3 2 Portion of rental expense (25%) deemed representative of the interest factor -- -- 1 1 1 1 1 --------------------------------------------------------------------- Total earnings 42 52 170 199 188 164 138 Interest expense 14 30 93 104 89 81 66 Debt expense amortization 1 1 4 2 2 3 2 Portion of rental expense (25%) deemed representative of the interest factor -- -- 1 1 1 1 1 --------------------------------------------------------------------- Total fixed charges 15 31 98 107 92 85 69 Earnings to fixed charges ratio 2.8 1.7 1.7 1.9 2.0 1.9 2.0