EX-12 6 extwelve.htm COMPUTATION OF RATIOS OF PROFIT TO FIXED CHARGES EXHIBIT 12

EXHIBIT 12

 

CATERPILLAR INC.,
CONSOLIDATED SUBSIDIARY COMPANIES,
AND 50%-OWNED UNCONSOLIDATED AFFILIATED COMPANIES

STATEMENT SETTING FORTH COMPUTATION
OF RATIOS OF PROFIT TO FIXED CHARGES
(Millions of dollars)

YEARS ENDED DECEMBER 31,
     

2000

 

1999

 

1998

Profit

$

1,053

$

946

$

1,513

Add:

                  

Provision for income taxes

$

439

$

448

680

Profit before taxes

  

$

1,492

  

$

1,394

  

$

2,193

Fixed charges:
 

Interest and other costs related to borrowed funds(1)

  

$

988

  

$

835

  

$

758

Rentals at computed interest factors(2)

90

83

76

Total fixed charges

  

$

1,078

  

$

918

  

$

834
     
 
 

Profit before provision for income taxes and fixed charges

$

2,570

$

2,312

$

3,027

Ratio of profit to fixed charges

    

2.4

    

2.5

    

3.6
     
 
 

___________

(1)  Interest expense as reported in the Consolidated Results of Operations plus the Company's proportionate 
       share of 50 percent-owned unconsolidated affiliated companies' interest expense.

(2)  Amounts represent those portions of rent expense that are reasonable approximations of interest costs.