Caterpillar Financial Services 10-Q 2005 Q3 Quarterly report

                                                                                                                                       & #160;                                                 EXHIBIT 12

CATERPILLAR FINANCIAL SERVICES CORPORATION

COMPUTATION OF RATIO OF PROFIT TO FIXED CHARGES

(Unaudited)

(Millions of Dollars)

	Three Month Ended		Nine Months Ended
	Sept. 30,	Sept. 30,	Sept. 30,	Sept. 30,
	2005	2004	2005	2004
Net Income	$87	$82	$260	$217
Add:
Provision for income taxes	43	31	132	100
Deduct:
Equity in profit of partnerships	(2)	(1)	(5)	(2)
Profit before taxes	$128	$112	$387	$315
Fixed charges:
Interest on borrowed funds	$202	$132	$563	$374
Rentals at computed interest*	1	1	4	4
Total fixed charges	$203	$133	$567	$378
Profit before taxes plus fixed charges	$331	$245	$954	$693
Ratio of profit before taxes plus fixed charges to fixed charges	1.63	1.84	1.68	1.83

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