Exhibit 12 COOPER INDUSTRIES, LTD. COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES (Dollar Amounts in Thousands) (Unaudited) Six Months Ended June 30, ------------------------- 2003 2002 ---------- ---------- Interest Expense $ 39,600 $ 34,300 Capitalized Interest - - Estimated Interest Portion of Rent Expense 6,033 6,998 ---------- ---------- Fixed Charges $ 45,633 $ 41,298 ========== ========== Income From Continuing Operations Before Income Taxes $ 164,800 $ 160,900 Add: Fixed Charges 45,633 41,298 Less: Equity in (Earnings) / Losses of Less Than 50% Owned Companies (1,363) (1,798) ---------- ---------- Earnings Before Fixed Charges $ 209,070 $ 200,400 ========== ========== Ratio of Earnings to Fixed Charges 4.6x 4.9x Year Ended December 31, Year Ended December 31, ---------------------------------------- ------------------------- 2002 2001 2000 1999 1998 ---------- ---------- ---------- ---------- ---------- Interest Expense $ 74,500 $ 84,700 $ 100,300 $ 55,200 $ 101,900 Capitalized Interest - 1,462 3,946 - - Estimated Interest Portion of Rent Expense 14,679 13,369 15,614 13,948 12,352 ---------- ---------- ---------- ---------- ---------- Fixed Charges $ 89,179 $ 99,531 $ 119,860 $ 69,148 $ 114,252 ========== ========== ========== ========== ========== Income From Continuing Operations Before Income Taxes $ 280,200 $ 316,400 $ 549,900 $ 518,600 $ 523,600 Add: Fixed Charges 89,179 98,069 115,914 69,148 114,252 Less: Equity in (Earnings) / Losses of Less Than 50% Owned Companies (2,969) (2,922) (3,367) (1,069) 595 ---------- ---------- ---------- ---------- ---------- Earnings Before Fixed Charges $ 366,410 $ 411,547 $ 662,447 $ 586,679 $ 638,447 ========== ========== ========== ========== ========== Ratio of Earnings to Fixed Charges 4.1x 4.1x 5.5x 8.5x 5.6x