EX-12 9 v036517_ex12.htm Unassociated Document
Exhibit 12
 
INGERSOLL-RAND COMPANY LIMITED
COMPUTATIONS OF RATIOS OF EARNINGS TO FIXED CHARGES
(Dollar Amounts in Millions) 
 
       
Years Ended December 31,
  
       
2005
 
2004
 
2003
 
2002
 
2001
  
Fixed charges:
                  
 
      
Interest expense
    
 
  
$144.3
  
$153.1
  
$175.6
  
$228.0
  
$247.5
  
Amortization of debt discount and expense
  
 
  
1.4
   
2.2
   
2.9
   
7.3
   
7.4
 
Rentals (one-third of rentals)
    
 
    
20.6
    
20.9
   
21.4
   
22.1
   
28.5
 
Capitalized interest
    
 
    
2.9
   
2.2
   
3.1
   
2.8
   
3.2
 
Equity-linked security charges
          
0.0
   
0.0
   
0.0
   
0.0
   
8.3
 
Total fixed charges
        
$169.2
  
$178.4
  
$203.0
  
$260.2
  
$294.9
  
                                       
Earnings from continuing operations before cumulative
effect of change in accounting principle
  
$1,053.1
  
$829.8
  
$532.8
  
$322.4
  
$149.9
  
 
                                      
Add:  Minority income of majority-owned subsidiaries
    
12.7
   
16.0
   
14.9
   
15.5
   
20.7
 
           Taxes on income from continuing operations
    
204.7
   
138.4
   
75.3
   
(7.9
)
  
(65.4
)
           Fixed charges
          
169.2
   
178.4
   
203.0
   
260.2
   
294.9
 
Less:Capitalized interest
    
 
    
2.9
   
2.2
   
3.1
   
2.8
   
3.2
 
   Undistributed earnings (losses) from 
less than 50% owned affiliates
    
 
    
(2.3
)
  
5.7
   
(2.1
)
  
(0.1
)
  
0.2
 
Earnings available for fixed charges
        
$1,439.1
  
$1,154.7
  
$825.0
  
$587.5
  
$396.7
  
                                       
Ratio of earnings to fixed charges
          
8.51
   
6.47
   
4.06
   
2.26
   
1.35
 
                                       
Undistributed earnings (losses) from less
                                      
than 50% owned affiliates:
                                      
Equity in earnings (losses)
    
 
  
$2.1
  
$5.7
    
$(1.8
)
$0.6
  
$0.9
  
Less:  Amounts Distributed
    
 
    
4.4
   
0.0
   
0.3
   
0.7
   
0.7
 
Undistributed earnings (losses) from
                                      
less than 50% owned affiliates
          
$(2.3
)
$
5.7
    
$(2.1
)
  
$(0.1
)
$0.2
  
 
All amounts have been restated to reflect a reclassification of discontinued operations