Attached files
| file | filename |
|---|---|
| 8-K - 8-K - CATERPILLAR INC | a11-13015_48k.htm |
| EX-4.1 - EX-4.1 - CATERPILLAR INC | a11-13015_4ex4d1.htm |
| EX-4.4 - EX-4.4 - CATERPILLAR INC | a11-13015_4ex4d4.htm |
| EX-1.1 - EX-1.1 - CATERPILLAR INC | a11-13015_4ex1d1.htm |
| EX-4.5 - EX-4.5 - CATERPILLAR INC | a11-13015_4ex4d5.htm |
| EX-4.3 - EX-4.3 - CATERPILLAR INC | a11-13015_4ex4d3.htm |
| EX-5.1 - EX-5 - CATERPILLAR INC | a11-13015_4ex5d1.htm |
| EX-4.2 - EX-4.2 - CATERPILLAR INC | a11-13015_4ex4d2.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, |
| |||||||||||||||||
|
|
|
2011 |
|
2010 |
|
2010 |
|
2009 |
|
2008 |
|
2007 |
|
2006 |
| |||||||
|
Earnings (1) |
|
$ |
1,763 |
|
$ |
469 |
|
$ |
3,750 |
|
$ |
569 |
|
$ |
4,501 |
|
$ |
4,990 |
|
$ |
4,890 |
|
|
Plus: Interest Expense |
|
290 |
|
335 |
|
1,257 |
|
1,434 |
|
1,427 |
|
1,420 |
|
1,297 |
| |||||||
|
One-third of rental expense (2) |
|
34 |
|
30 |
|
120 |
|
127 |
|
133 |
|
119 |
|
105 |
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|
Adjusted Earnings |
|
2,087 |
|
834 |
|
5,127 |
|
2,130 |
|
6,061 |
|
6,529 |
|
6,292 |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Fixed charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Interest expense (3) |
|
290 |
|
335 |
|
1,257 |
|
1,434 |
|
1,427 |
|
1,420 |
|
1,297 |
| |||||||
|
Capitalized interest |
|
— |
|
— |
|
26 |
|
25 |
|
27 |
|
15 |
|
10 |
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|
One-third of rental expense (2) |
|
34 |
|
30 |
|
120 |
|
127 |
|
133 |
|
119 |
|
105 |
| |||||||
|
Total fixed charges |
|
$ |
324 |
|
$ |
365 |
|
$ |
1,403 |
|
$ |
1,586 |
|
$ |
1,587 |
|
$ |
1,554 |
|
$ |
1,412 |
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
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|
Ratio of earnings to fixed charges |
|
6.4 |
|
2.3 |
|
3.7 |
|
1.3 |
|
3.8 |
|
4.2 |
|
4.5 |
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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