Attached files
| file | filename |
|---|---|
| 8-K - 8-K - CATERPILLAR INC | a12-14982_48k.htm |
| EX-1.1 - EX-1.1 - CATERPILLAR INC | a12-14982_4ex1d1.htm |
| EX-5.1 - EX-5.1 - CATERPILLAR INC | a12-14982_4ex5d1.htm |
| EX-4.2 - EX-4.2 - CATERPILLAR INC | a12-14982_4ex4d2.htm |
| EX-4.1 - EX-4.1 - CATERPILLAR INC | a12-14982_4ex4d1.htm |
| EX-4.3 - EX-4.3 - CATERPILLAR INC | a12-14982_4ex4d3.htm |
EXHIBIT 12.1
CATERPILLAR INC.
AND CONSOLIDATED SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(Millions of dollars)
|
|
|
PERIODS ENDED |
|
YEARS ENDED DECEMBER 31, |
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|
|
|
2012 |
|
2011 |
|
2011 |
|
2010 |
|
2009 |
|
2008 |
|
2007 |
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|
Earnings (1) |
|
$ |
2,298 |
|
$ |
1,763 |
|
$ |
6,725 |
|
$ |
3,750 |
|
$ |
569 |
|
$ |
4,501 |
|
$ |
4,990 |
|
|
Plus: Interest Expense |
|
317 |
|
290 |
|
1,222 |
|
1,257 |
|
1,434 |
|
1,427 |
|
1,420 |
| |||||||
|
One-third of rental expense (2) |
|
39 |
|
34 |
|
143 |
|
120 |
|
127 |
|
133 |
|
119 |
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|
Adjusted Earnings |
|
2,654 |
|
2,087 |
|
8,090 |
|
5,127 |
|
2,130 |
|
6,061 |
|
6,529 |
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|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
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Fixed charges: |
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|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Interest expense (3) |
|
317 |
|
290 |
|
1,222 |
|
1,257 |
|
1,434 |
|
1,427 |
|
1,420 |
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|
Capitalized interest |
|
3 |
|
— |
|
18 |
|
26 |
|
25 |
|
27 |
|
15 |
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|
One-third of rental expense (2) |
|
39 |
|
34 |
|
143 |
|
120 |
|
127 |
|
133 |
|
119 |
| |||||||
|
Total fixed charges |
|
$ |
359 |
|
$ |
324 |
|
$ |
1,383 |
|
$ |
1,403 |
|
$ |
1,586 |
|
$ |
1,587 |
|
$ |
1,554 |
|
|
|
|
|
|
|
|
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|
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|
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|
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Ratio of earnings to fixed charges |
|
7.4 |
|
6.4 |
|
5.8 |
|
3.7 |
|
1.3 |
|
3.8 |
|
4.2 |
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(1) Consolidated profit before taxes
(2) Considered to be representative of interest factor in rental expense
(3) Does not include interest on income taxes and other non-third-party indebtedness