EXHIBIT 12
ITT INDUSTRIES, INC. AND SUBSIDIARIES
CALCULATION OF RATIO OF EARNINGS TO TOTAL FIXED CHARGES
AND CALCULATION OF EARNINGS TO TOTAL FIXED CHARGES AND
PREFERRED DIVIDEND REQUIREMENTS
<Table>
<Caption>
Years Ended December 31,
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(In Millions) 2005 2004 2003 2002 2001
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Earnings:
Income (loss) from continuing operations $ 314.4 $ 420.1 $ 370.3 $ 350.6 $ 184.1
Add (deduct):
Adjustment for distributions in excess
of (less than) undistributed equity
earnings and losses(a) 0.8 (0.4) (0.8) (5.0) (1.6)
Income taxes (benefits) 133.7 164.7 130.3 115.1 108.3
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448.9 584.4 499.8 460.7 290.8
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Fixed Charges:
Interest and other financial charges 75.0 50.4 43.2 56.5 83.3
Interest factor attributable to
rentals(b) 28.9 27.0 21.5 19.1 15.6
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103.9 77.4 64.7 75.6 98.9
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Earnings, as adjusted, from continuing
operations $ 552.8 $ 661.8 $ 564.5 $ 536.3 $ 389.7
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Fixed Charges:
Fixed charges above $ 103.9 $ 77.4 $ 64.7 $ 75.6 $ 98.9
Interest capitalized -- -- -- -- --
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Total fixed charges 103.9 77.4 64.7 75.6 98.9
Dividends on preferred stock (pre-income
tax basis) -- -- -- -- --
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Total fixed charges and preferred
dividend requirements $ 103.9 $ 77.4 $ 64.7 $ 75.6 $ 98.9
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Ratios:
Earnings, as adjusted, from continuing
operations to total fixed charges 5.32 8.55 8.72 7.09 3.94
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Earnings, as adjusted, from continuing
operations to total fixed charges and
preferred dividend requirements 5.32 8.55 8.72 7.09 3.94
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</Table>
Notes:
a) The adjustment for distributions in excess of (less than) undistributed
equity earnings and losses represents the adjustment to income for companies
in which less than 50% equity is owned.
b) One-third of rental expense is deemed to be representative of the interest
factor in rental expense.
c) Prior years amounts have been adjusted to reflect the impact of FHS and NS&S
discontinued operations.