EX-12 21 dex12.htm COMPUTATIONS OF RATIOS OF EARNINGS TO FIXED CHARGES Computations of Ratios of Earnings to Fixed Charges

Exhibit 12

INGERSOLL-RAND COMPANY LIMITED

COMPUTATIONS OF RATIOS OF EARNINGS TO FIXED CHARGES

(Dollar Amounts in Millions)

 

     Years Ended December 31,  
     2008     2007     2006     2005     2004  

Earnings (loss) from continuing operations before income taxes

   $ (2,776.0 )   $ 937.5     $ 857.6     $ 792.8     $ 557.4  

Minority Interest

     20.0       14.3       14.9       12.7       16.0  

(Earnings) losses from equity method investees

     (3.4 )     (1.0 )     —         (2.1 )     (5.7 )
                                        

Sub-total

     (2,759.4 )     950.8       872.5       803.4       567.7  

Fixed charges

     294.6       160.9       159.6       165.4       171.8  

Dividend from equity method investees

     13.2       —         —         4.4       —    

Capitalized interest

     (1.0 )     (0.6 )     (3.2 )     (1.1 )     (1.4 )
                                        

Total earnings (loss)

   $ (2,452.6 )   $ 1,111.1     $ 1,028.9     $ 972.1     $ 738.1  
                                        

Fixed charges:

          

Interest expense

   $ 245.4     $ 136.2     $ 133.6     $ 145.1     $ 152.1  

Capitalized interest

     1.0       0.6       3.2       1.1       1.4  

Rentals (one-third of rentals)

     48.3       24.1       22.8       19.2       18.3  
                                        

Total fixed charges

   $ 294.6     $ 160.9     $ 159.6     $ 165.4     $ 171.8  
                                        

Ratio of earnings to fixed charges

     —         6.9       6.4       5.9       4.3  
                                        

Deficiency in the coverage of fixed charges by earnings before fixed charges

   $ (2,747.1 )