Exhibit 12

Ratio of Earnings to Fixed Charges

	Years Ended December 31,
(In Millions Except Ratios)	2012		2011(a)		2010(a)		2009(a)		2008(a)
Fixed Charges:
Interest Expense, Including Amortization of Deferred Finance Fees	$	55	$	17	$	—	$	—	$	2
Interest Portion of Rental Expense (b)	24		21		18		16		16
Total Fixed Charges	79		38		18		16		18
Earnings Before Income Taxes, Discontinued Operations and Fixed Charges:
Pre-tax income (before income or loss from equity investees)	388		379		387		277		313
Fixed Charges	79		38		18		16		18
Total Earnings Available For Fixed Charges	$	467	$	417	$	405	$	293	$	331
Ratio of Earnings to Fixed Charges:	5.9		10.9		22.7		18.9		18.9

(a)     For all comparative periods presented above, these periods are prior to the Spin-off from ITT and the issuance of $1.2 billion aggregate principal amount of senior notes which were issued in September 2011. Interest on the Senior Notes accrues from September 20, 2011.

(b) Calculated as 33% of rent expense, which is a reasonable approximation of the interest factor.