EX-12 2 cfsc-09302014x10qxex12.htm EXHIBIT 12 CFSC-09.30.2014-10Q-Ex 12


EXHIBIT 12

Caterpillar Financial Services Corporation
 COMPUTATION OF RATIO OF PROFIT TO FIXED CHARGES
(Unaudited)
(Dollars in Millions)

 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2014
 
2013
 
2014
 
2013
 
 
 
 
 
 
 
 
Profit
$
148

 
$
117

 
$
427

 
$
355

 
 
 
 
 
 
 
 
Add:
 
 
 
 
 
 
 
Provision for income taxes
47

 
44

 
153

 
126

 
 
 
 
 
 
 
 
Profit before income taxes
$
195

 
$
161

 
$
580

 
$
481

 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
Interest expense
$
158

 
$
179

 
$
475

 
$
557

Rentals at computed interest*
1

 
1

 
4

 
4

 
 
 
 
 
 
 
 
Total fixed charges
$
159

 
$
180

 
$
479

 
$
561

 
 
 
 
 
 
 
 
Profit before income taxes plus fixed charges
$
354

 
$
341

 
$
1,059

 
$
1,042

 
 
 
 
 
 
 
 
Ratio of profit before income taxes plus fixed charges to fixed charges
2.23

 
1.89

 
2.21

 
1.86

 
 
 
 
 
 
 
 
*Those portions of rent expense that are representative of interest cost.