Exhibit 12(a)

XEROX CREDIT CORPORATION

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(in millions)



|                                      |  |                             |      |                         |   |      |  |      |      |      |   |      |  |      |      |  |   |      |  |   |     
|------------------------------------- |  | --------------------------- | ---- | ----------------------- | - | ---- |  | ---- | ---- | ---- | - | ---- |  | ---- | ---- |  | - | ---- |  | - | ----
|                                      |  | Three Months EndedMarch 31, |      | Year Ended December 31,
|                                      |  | 2006                        |      | 2005                    |   | 2005 |  | 2004 |      | 2003 |   | 2002 |  | 2001
|Income before income taxes            |  | $                           | 16   |                         | $ | 21   |  | $    | 70   |      | $ | 71   |  | $    | 89   |  | $ | 142  |  | $ | 91  
|                                      |  |                             |      |                         |   |      |  |      |      |      |   |      |  |      |      |  |   |      |  |   |     
|Fixed Charges:                        |  |                             |      |                         |   |      |  |      |      |      |   |      |  |      |      |  |   |      |  |   |     
|Interest Expense                      |  |                             |      |                         |   |      |  |      |      |      |   |      |  |      |      |  |   |      |  |   |     
|Other debt                            |  |                             | 8    |                         |   | 15   |  |      | 49   |      |   | 54   |  |      | 63   |  |   | 127  |  |   | 298 
|                                      |  |                             |      |                         |   |      |  |      |      |      |   |      |  |      |      |  |   |      |  |   |     
|Total Fixed charges                   |  |                             | 8    |                         |   | 15   |  |      | 49   |      |   | 54   |  |      | 63   |  |   | 127  |  |   | 298 
|                                      |  |                             |      |                         |   |      |  |      |      |      |   |      |  |      |      |  |   |      |  |   |     
|Earnings available for fixed charges  |  | $                           | 24   |                         | $ | 36   |  | $    | 119  |      | $ | 125  |  | $    | 152  |  | $ | 269  |  | $ | 389 
|                                      |  |                             |      |                         |   |      |  |      |      |      |   |      |  |      |      |  |   |      |  |   |     
|Ratio of earnings to fixed charges(1) |  |                             | 3.00 |                         |   | 2.40 |  |      | 2.43 |      |   | 2.31 |  |      | 2.41 |  |   | 2.12 |  |   | 1.31
|                                      |  |                             |      |                         |   |      |  |      |      |      |   |      |  |      |      |  |   |      |  |   |     

---

|(1) | The ratio of earnings to fixed charges has been computed by dividing total earnings available for fixed charges by total fixed charges.
|--- | ---------------------------------------------------------------------------------------------------------------------------------------



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