EX-12 2 cfsc-09302018x10qxex12.htm EXHIBIT 12 Exhibit


EXHIBIT 12

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

 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2018
 
2017
 
2018
 
2017
 
 
 
 
 
 
 
 
Profit of consolidated companies
$
131

 
$
88

 
$
302

 
$
320

 
 
 
 
 
 
 
 
Add:
 
 
 
 
 
 
 
Provision for income taxes
32

 
38

 
85

 
137

 
 
 
 
 
 
 
 
Profit before income taxes
$
163

 
$
126

 
$
387

 
$
457

 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
Interest expense
$
194

 
$
169

 
$
558

 
$
499

Rentals at computed interest*
1

 
1

 
3

 
4

 
 
 
 
 
 
 
 
Total fixed charges
$
195

 
$
170

 
$
561

 
$
503

 
 
 
 
 
 
 
 
Profit before income taxes plus fixed charges
$
358

 
$
296

 
$
948

 
$
960

 
 
 
 
 
 
 
 
Ratio of profit before income taxes plus fixed charges to fixed charges
1.84

 
1.74

 
1.69

 
1.91

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