SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
__________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): November 3, 1995
XEROX CREDIT CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 1-8133 06-1024525
(State or other jurisdiction (Commission (IRS Employer
of incorporation or organization) File Number) Identification No.)
100 First Stamford Place, Stamford, Connecticut 06904
(Address of principal executive offices) (Zip Code)
Registrant's telephone number,including area code: (203) 325-6600
THIS DOCUMENT CONSISTS OF 3 PAGES.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits.
Exhibit 12(a) -- Computation of ratio of earnings to fixed charges of
Xerox Credit Corporation.
(1)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
(REGISTRANT) XEROX CREDIT CORPORATION
BY GEORGE R. ROTH
(NAME AND TITLE) George R. Roth
Vice President, Treasurer and
Chief Financial Officer
(DATE) November 3, 1995
(2)
Exhibit 12 (a)
XEROX CREDIT CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In Millions)
Six Months Ended
June 30, Year Ended December 31,
1995 1994 1994 1993 1992 1991 1990
Income before income taxes $ 65 $ 71 $147 $ 154 $ 158 $ 164 $ 182
Fixed Charges:
Interest expense
Xerox debt 3 2 5 4 2 - 2
Other debt 105 100 197 205 210 200 205
Total fixed charges 108 102 202 209 212 200 207
Earnings available for
fixed charges $ 173 $ 173 $ 349 $ 363 $ 370 $ 364 $ 389
Ratio of earnings to
fixed charges (1) 1.60 1.70 1.73 1.74 1.75 1.82 1.88
(1) The ratio of earnings to fixed charges has been computed based on the
Company's continuing operations by dividing total earnings available
for fixed charges by total fixed charges. Debt has been assigned to
discontinued operations based on the net assets of the discontinued
operations and debt to equity ratios that existed at the time the assets
were acquired. Management believes that this allocation method is
reasonable. For 1995, the amount of interest expense that would have
been allocated to discontinued operations is insignificant and therefore
is now reported within continuing operations. The discontinued
operations consist of the Company's real estate development and related
financing operations and its third-party financing and leasing
businesses.
(3)
