EXHIBIT 12.1
INGERSOLL-RAND COMPANY LIMITED
COMPUTATIONS OF RATIOS OF EARNINGS TO FIXED CHARGES
(Dollar Amounts in Millions)
Six Months Ended June 30, | Years Ended December 31, | |||||||||||||||||||||||||||
2008 | 2007 | 2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||||||||
Earnings from continuing operations before income taxes | $ | 601.0 | $ | 424.7 | $ | 937.5 | $ | 857.6 | $ | 792.8 | $ | 557.4 | $ | 345.1 | ||||||||||||||
Minority Interest | 10.3 | 7.1 | 14.3 | 14.9 | 12.7 | 16.0 | 14.9 | |||||||||||||||||||||
(Earnings) losses from equity method investees | (1.2 | ) | — | (1.2 | ) | — | (2.1 | ) | (5.7 | ) | 1.8 | |||||||||||||||||
Sub-total | 610.1 | 431.8 | 950.6 | 872.5 | 803.4 | 567.7 | 361.8 | |||||||||||||||||||||
Fixed charges | 85.5 | 78.9 | 160.9 | 159.6 | 165.4 | 171.8 | 196.4 | |||||||||||||||||||||
Dividend from equity method investees | — | — | — | — | 4.4 | — | 0.3 | |||||||||||||||||||||
Capitalized interest | (0.4 | ) | (0.4 | ) | (0.6 | ) | (3.2 | ) | (1.1 | ) | (1.4 | ) | (2.9 | ) | ||||||||||||||
Total Earnings | $ | 695.2 | $ | 510.3 | $ | 1,110.9 | $ | 1,028.9 | $ | 972.1 | $ | 738.1 | $ | 555.6 | ||||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||
Interest expense | $ | 73.1 | $ | 66.5 | $ | 136.2 | $ | 133.6 | $ | 145.1 | $ | 152.1 | $ | 175.5 | ||||||||||||||
Capitalized interest | 0.4 | 0.4 | 0.6 | 3.2 | 1.1 | 1.4 | 2.9 | |||||||||||||||||||||
Rentals (one-third of rentals) | 12.0 | 12.0 | 24.1 | 22.8 | 19.2 | 18.3 | 18.0 | |||||||||||||||||||||
Total fixed charges | $ | 85.5 | $ | 78.9 | $ | 160.9 | $ | 159.6 | $ | 165.4 | $ | 171.8 | $ | 196.4 | ||||||||||||||
Ratio of earnings to fixed charges | 8.1 | 6.5 | 6.9 | 6.4 | 5.9 | 4.3 | 2.8 | |||||||||||||||||||||
All amounts have been restated to reflect a reclassification of discontinued operations.