EX-12 6 ex12.htm EXHIBIT 12 ex12.htm
 
 
 

EXHIBIT 12
CATERPILLAR FINANCIAL SERVICES CORPORATION

COMPUTATION OF RATIO OF PROFIT TO FIXED CHARGES
(Unaudited)
(Dollars in Millions)

   
Three Months Ended
    
Nine Months Ended
  
   
September 30,
    
September 30,
    
September 30,
    
September 30,
  
   
2008
    
2007
    
2008
    
2007
  
                         
Profit
   $ 118     $ 133     $ 372     $ 381  
                                 
Add:
                                
  Provision for income taxes
     38       54       143       175  
                                 
Deduct:
                                
  Partnership income
     -       (2 )     (3 )     (5 )
                                 
Profit before income taxes and partnership income
   $ 156     $ 185     $ 512     $ 551  
                                 
Fixed charges:
                                
  Interest expense
   $ 292     $ 289     $ 855     $ 838  
  Rentals at computed interest*
     1       1       4       4  
                                 
Total fixed charges
   $ 293     $ 290     $ 859     $ 842  
                                 
Profit before income taxes plus fixed charges
   $ 449     $ 475     $ 1,371     $ 1,393  
                                 
Ratio of profit before income taxes plus
  fixed charges to fixed charges
     1.53       1.64       1.60       1.65  
                                 
    *Those portions of rent expense that are representative of interest cost.