Exhibit 12
COOPER INDUSTRIES, LTD.
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(Dollar Amounts in Thousands)
(Unaudited)
Nine Months Ended
September 30,
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2003 2002
---------------- ----------------
Interest Expense $ 57,900 $ 53,900
Capitalized Interest - -
Estimated Interest Portion of
Rent Expense 9,164 10,476
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Fixed Charges $ 67,064 $ 64,376
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Income From Continuing
Operations Before Income Taxes $ 253,100 $ 243,800
Add: Fixed Charges 67,064 64,373
Less: Equity in (Earnings) / Losses
of Less Than 50% Owned
Companies (1,579) (2,577)
---------------- ----------------
Earnings Before Fixed Charges $ 318,585 $ 305,599
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Ratio of Earnings to Fixed Charges 4.8x 4.7x
Year Ended December 31,
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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