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, | |||||||||||||||||||||||||||
2009 | 2008 | 2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||||||||
Earnings (loss) from continuing operations before income taxes | $ | 156.6 | $ | 601.0 | $ | (2,776.0 | ) | $ | 937.5 | $ | 857.6 | $ | 792.8 | $ | 557.4 | |||||||||||||
Minority Interest | 10.4 | 10.3 | 20.0 | 14.3 | 14.9 | 12.7 | 16.0 | |||||||||||||||||||||
(Earnings) losses from equity method investees | (3.5 | ) | (1.2 | ) | (3.4 | ) | (1.0 | ) | — | (2.1 | ) | (5.7 | ) | |||||||||||||||
Sub-total | 163.5 | 610.1 | (2,759.4 | ) | 950.8 | 872.5 | 803.4 | 567.7 | ||||||||||||||||||||
Fixed charges | 161.3 | 85.5 | 294.6 | 160.9 | 159.6 | 165.4 | 171.8 | |||||||||||||||||||||
Dividend from equity method investees | 2.3 | — | 13.2 | — | — | 4.4 | — | |||||||||||||||||||||
Capitalized interest | (0.6 | ) | (0.4 | ) | (1.0 | ) | (0.6 | ) | (3.2 | ) | (1.1 | ) | (1.4 | ) | ||||||||||||||
Total earnings (loss) | $ | 326.5 | $ | 695.2 | $ | (2,452.6 | ) | $ | 1,111.1 | $ | 1,028.9 | $ | 972.1 | $ | 738.1 | |||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||
Interest expense | $ | 149.3 | $ | 73.1 | $ | 245.4 | $ | 136.2 | $ | 133.6 | $ | 145.1 | $ | 152.1 | ||||||||||||||
Capitalized interest | 0.6 | 0.4 | 1.0 | 0.6 | 3.2 | 1.1 | 1.4 | |||||||||||||||||||||
Rentals (one-third of rentals) | 11.4 | 12.0 | 48.3 | 24.1 | 22.8 | 19.2 | 18.3 | |||||||||||||||||||||
Total fixed charges | $ | 161.3 | $ | 85.5 | $ | 294.6 | $ | 160.9 | $ | 159.6 | $ | 165.4 | $ | 171.8 | ||||||||||||||
Ratio of earnings to fixed charges | 2.0 | 8.1 | — | 6.9 | 6.4 | 5.9 | 4.3 | |||||||||||||||||||||
Deficiency in the coverage of fixed charges by earnings before fixed charges | $ | — | $ | — | $ | (2,747.1 | ) | $ | — | $ | — | $ | — | $ | — |