|                                                                                            |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |  |  |  |  |  |  |   |  | **Exhibit 12** |
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| **INGERSOLL-RAND COMPANY LIMITED**                                               |
| **COMPUTATIONS OF RATIOS OF EARNINGS TO FIXED CHARGES** |
| **(Dollar Amounts in Millions)**                                            |
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|                                                                                            |  | **Years Ended December 31,**   **2004 ** **2003 ** **2002 ** **  2001  ** **2000 **
 
**           Fixed Charges**  Interest expense$153.1 $175.6 $228.0 $247.5  $220.3 Amortization of debt discount and expense2.2 2.9 7.3 7.4  6.1 Rentals (one-third of rentals)20.9 21.4 22.1 28.5  20.5 Capitalized interest2.2 3.1 2.8 3.2  3.6 Equity-linked security charges0.0 0.0 0.0 8.3  25.6           
**     Total fixed charges** **$178.4 ****$203.0 ****$260.2 ****$294.9 ** **$276.1 **             width="169"Earnings from continuing operations before cumulative 
**                 Earnings from continuing operations before cumulative**
   **                 effect of change in accounting principle**
**$829.8 **** ****$532.8 **** ****$322.4 ** **$149.9** **$398.7 ****                 Add:**Minority income of majority-     owned subsidiaries16.0  14.9  
15.5  20.7  39.8 Taxes on income from continuing operations138.4  75.3  
     (7.9) (65.4) 214.8 Fixed charges178.4  203.0  
260.2  294.9  276.1 **                 Less:**Capitalized interest2.2 3.1 
2.8 3.2  3.6 Undistributed earnings (losses) from       less than 50% owned affiliates5.7 (2.1)
(0.1) 0.2  0.1      **                 Earnings available for fixed charges****$1,154.7 ****$825.0 ****$587.5 ****$396.7 ** **$925.7 **             **                 Ratio of earnings to fixed charges****6.47 ****4.06 ****2.26 ****1.35 ** **3.35 **  **                 Undistributed earnings (losses) from less** **                    than 50% owned affiliates:** Equity in earnings (losses)$5.7 ($1.8)$0.6 $0.9  $1.0 
Less:Amounts Distributed0.0 0.3 0.7 0.7  0.9 Undistributed earnings (losses) from   less than 50% owned affiliates**$5.7 ****($2.1)** **($0.1)****$0.2 ** **$0.1 **  **All amounts have been restated to reflect a reclassification of discontinued operations**  |