**                                                                                                                                                                                                EXHIBIT 12**

**CATERPILLAR        FINANCIAL SERVICES CORPORATION**

**COMPUTATION        OF RATIO OF PROFIT TO FIXED CHARGES**

|                                                                                               | **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  |