EXHIBIT 12

Caterpillar Financial Services Corporation

COMPUTATION OF RATIO OF PROFIT TO FIXED CHARGES

(Unaudited)

(Dollars in Millions)

	Three Months Ended March 31,
	2015		2014
Profit	$	133	$	131
Add:
Provision for income taxes	52		48
Profit before income taxes	$	185	$	179
Fixed charges:
Interest expense	$	151	$	162
Rentals at computed interest*	1		1
Total fixed charges	$	152	$	163
Profit before income taxes plus fixed charges	$	337	$	342
Ratio of profit before income taxes plus fixed charges to fixed charges	2.22		2.10

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