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Previous: PACCAR FINANCIAL CORP, 10-Q, EX-12.1, 2000-08-11 |
Next: PACCAR FINANCIAL CORP, 10-Q, EX-12.3, 2000-08-11 |
<PAGE>
EXHIBIT 12.2
PACCAR Financial Corp.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
PURSUANT TO THE SUPPORT AGREEMENT
BETWEEN THE COMPANY AND PACCAR
(Thousands of Dollars)
<TABLE>
<CAPTION>
Six Months Ended
June 30
2000 1999
-------------------------------
<S> <C> <C>
FIXED CHARGES
Interest expense $ 94,443 $ 69,313
Facility and equipment rental 478 498
-------------------------------
TOTAL FIXED CHARGES $ 94,921 $ 69,811
===============================
EARNINGS
Income before taxes $ 29,576 $ 29,312
Depreciation 4,550 4,562
-------------------------------
34,126 33,874
Fixed charges 94,921 69,811
-------------------------------
EARNINGS AS DEFINED $129,047 $103,685
===============================
RATIO OF EARNINGS TO FIXED CHARGES 1.36x 1.49x
</TABLE>
-13-
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