EX-12 2 cfsc-09302016x10qxex12.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,
 
2016
 
2015
 
2016
 
2015
 
 
 
 
 
 
 
 
Profit of consolidated companies
$
98

 
$
109

 
$
303

 
$
348

 
 
 
 
 
 
 
 
Add:
 
 
 
 
 
 
 
Provision for income taxes
48

 
44

 
136

 
142

 
 
 
 
 
 
 
 
Profit before income taxes
$
146

 
$
153

 
$
439

 
$
490

 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
Interest expense
$
151

 
$
144

 
$
458

 
$
445

Rentals at computed interest*
1

 
1

 
4

 
4

 
 
 
 
 
 
 
 
Total fixed charges
$
152

 
$
145

 
$
462

 
$
449

 
 
 
 
 
 
 
 
Profit before income taxes plus fixed charges
$
298

 
$
298

 
$
901

 
$
939

 
 
 
 
 
 
 
 
Ratio of profit before income taxes plus fixed charges to fixed charges
1.96

 
2.06

 
1.95

 
2.09

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