EX-12 3 ex12q3.txt EXHIBIT 12 INGERSOLL-RAND COMPANY COMPUTATIONS OF RATIOS OF EARNINGS TO FIXED CHARGES (Dollar Amounts in Millions) Nine Months Ended September 30, Years Ended December 31, Fixed charges: 2001 2000 1999 1998 1997 1996 Interest expense...........................$ 217.1 $ 286.6 $ 204.5 $ 225.9 $ 137.5 $ 120.9 Amortization of debt discount and expense.. 5.3 6.1 6.7 7.0 2.0 1.5 Rentals (one-third of rentals)............. 25.0 28.2 23.9 23.8 23.3 20.3 Capitalized interest....................... 3.3 4.4 4.0 4.0 3.2 4.6 Equity-linked security charges............. 8.3 25.6 25.6 19.7 0.0 0.0 Total fixed charges..........................$ 259.0 $ 350.9 $ 264.7 $ 280.4 $ 166.0 $ 147.3 Net earnings from continuing operations $ 146.1 $ 546.2 $ 563.1 $ 481.6 $ 367.6 $ 342.3 Add: Minority income of majority- owned subsidiaries.................. 16.6 39.3 29.1 23.5 3.6 1.5 Taxes on income from continuing operations.......................... 51.8 284.4 307.1 257.6 220.2 196.2 Fixed charges......................... 259.0 350.9 264.7 280.4 166.0 147.3 Less: Capitalized interest.................. 3.3 4.4 4.0 4.0 3.2 4.6 Undistributed earnings (losses) from less than 50% owned affiliates..... 0.6 9.2 27.1 33.8 16.6 (23.6) Earnings available for fixed charges ........$ 469.6 $1,207.2 $1,132.9 $1,005.3 $ 737.6 $ 706.3 Ratio of earnings to fixed charges .......... 1.81 3.44 4.28 3.59 4.44 4.79 Undistributed earnings (losses) from less than 50% owned affiliates: Equity in earnings (losses)................$ 1.9 $ 11.7 $ 29.3 $ 37.0 $ 18.7 $ 35.2 Less: Amounts distributed............... 1.3 2.5 2.2 3.2 2.1 58.8 Undistributed earnings (losses) from less-than 50% owned affiliates...........$ 0.6 $ 9.2 $ 27.1 $ 33.8 $ 16.6 $ (23.6)