1
EXHIBIT 12
COOPER INDUSTRIES, INC.
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(Dollar Amounts in Thousands)
(Unaudited)
Nine Months Ended
September 30, Year Ended December 31,
---------------------- ---------------------------------------------------------------
2000 1999 1999 1998 1997 1996 1995
-------- -------- -------- -------- -------- -------- --------
Interest Expense $ 73,500 $ 39,100 $ 55,200 $101,900 $ 90,400 $142,100 $151,000
Capitalized Interest 2,918 -- -- -- -- -- --
Estimated Interest Portion of
Rent Expense 11,583 10,736 13,948 12,352 10,864 10,035 10,064
-------- -------- -------- -------- -------- -------- --------
Fixed Charges $ 88,001 $ 49,836 $ 69,148 $114,252 $101,264 $152,135 $161,064
======== ======== ======== ======== ======== ======== ========
Income Before Income Taxes $412,600 $387,400 $518,600 $523,600 $483,200 $470,700 $297,300
Add: Fixed Charges 85,083 49,836 69,148 114,252 101,264 152,135 161,064
Dividends From Less Than
50% Owned Companies -- -- -- -- -- 287 968
Less: Equity in (Earnings) / Losses
of Less Than 50% Owned
Companies (2,703) (240) (1,069) 595 (320) (1,609) (996)
-------- -------- -------- -------- -------- -------- --------
Earnings Before Fixed Charges $494,980 $436,996 $586,679 $638,447 $584,144 $621,513 $458,336
======== ======== ======== ======== ======== ======== ========
Ratio of Earnings to Fixed Charges 5.6x 8.8x 8.5x 5.6x 5.8x 4.1x 2.8x
-18-