EX-12 2 cfsc-06302015x10qxex12.htm EXHIBIT 12 CFSC-06.30.2015-10Q-Ex 12


EXHIBIT 12

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

 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2015
 
2014
 
2015
 
2014
 
 
 
 
 
 
 
 
Profit
$
104

 
$
148

 
$
237

 
$
279

 
 
 
 
 
 
 
 
Add:
 
 
 
 
 
 
 
Provision for income taxes
46

 
58

 
98

 
106

 
 
 
 
 
 
 
 
Profit before income taxes
$
150

 
$
206

 
$
335

 
$
385

 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
Interest expense
$
150

 
$
155

 
$
301

 
$
317

Rentals at computed interest*
2

 
2

 
3

 
3

 
 
 
 
 
 
 
 
Total fixed charges
$
152

 
$
157

 
$
304

 
$
320

 
 
 
 
 
 
 
 
Profit before income taxes plus fixed charges
$
302

 
$
363

 
$
639

 
$
705

 
 
 
 
 
 
 
 
Ratio of profit before income taxes plus fixed charges to fixed charges
1.99

 
2.31

 
2.10

 
2.20

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