1 Exhibit 12 COOPER INDUSTRIES, INC. COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES (Dollar Amounts in Thousands) (Unaudited) SIX MONTHS ENDED JUNE 30, YEAR ENDED DECEMBER 31, -------------------- ----------------------------------------------------- 1999 1998 1998 1997 1996 1995 1994 --------- --------- --------- --------- --------- --------- --------- Interest Expense $ 25,400 $ 52,700 $ 101,900 $ 90,400 $ 142,100 $ 151,000 $ 73,300 Estimated Interest Portion of Rent Expense 7,092 5,810 12,352 10,864 10,035 10,064 10,321 --------- --------- --------- --------- --------- --------- --------- Fixed Charges $ 32,492 $ 58,510 $ 114,252 $ 101,264 $ 152,135 $ 161,064 $ 83,621 ========= ========= ========= ========= ========= ========= ========= Income From Continuing Operations Before Income Taxes $ 255,600 $ 218,200 $ 523,600 $ 483,200 $ 470,700 $ 297,300 $ 314,600 Add: Fixed Charges 32,492 58,510 114,252 101,264 152,135 161,064 83,621 Dividends From Less Than 50% Owned Companies -- -- -- -- 287 968 549 Less: Equity in (Earnings) / Losses of Less Than 50% Owned Companies (46) 332 595 (320) (1,609) (996) (1,776) --------- --------- --------- --------- --------- --------- --------- Earnings Before Fixed Charges $ 288,046 $ 277,042 $ 638,447 $ 584,144 $ 621,513 $ 458,336 $ 396,994 ========= ========= ========= ========= ========= ========= ========= Ratio of Earnings to Fixed Charges 8.9x 4.7x 5.6x 5.8x 4.1x 2.8x 4.7x