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Previous: PACCAR FINANCIAL CORP, 10-Q, EX-12.2, 2000-08-11 |
Next: PACCAR FINANCIAL CORP, 10-Q, EX-27.1, 2000-08-11 |
<PAGE>
EXHIBIT 12.3
PACCAR AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Thousands of Dollars)
<TABLE>
<CAPTION>
Six Months Ended
June 30
2000 1999
-----------------------------
<S> <C> <C>
FIXED CHARGES
Interest expense -
PACCAR and subsidiaries (1) $ 116,892 $ 87,004
Portion of rentals deemed interest 9,930 8,874
----------------------------
TOTAL FIXED CHARGES $ 126,822 $ 95,878
============================
EARNINGS
Income before taxes -
PACCAR and subsidiaries $ 447,028 $ 406,577
Fixed charges 126,822 95,878
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EARNINGS AS DEFINED $ 573,850 $ 502,455
============================
RATIO OF EARNINGS TO FIXED CHARGES 4.52x 5.24x
</TABLE>
(1) Exclusive of interest, if any, paid to PACCAR.
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