|                                                                                                                                   |                                            |        |        |        |          |        |        |        |        | Exhibit 12
|---------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------ | ------ | ------ | ------ | -------- | ------ | ------ | ------ | ------ | ----------
|                                                                                                                                   |                                            |        |       
|INGERSOLL-RAND COMPANY
      LIMITED                                                                                               |                                            |       
|COMPUTATIONS OF RATIOS
      OF EARNINGS TO FIXED CHARGES                                                                          |                                            |       
|(Dollar Amounts in
      Millions)                                                                                                 |                                            |       
|                                                                                                                                   |                                            |       
|                                                                                                                                   |                                            |        |        |       
|                                                                                                                                   | Years Ended December 31,                   |        |       
|                                                                                                                                   |                                            |        |        |        |          |        |        |        |        |           
|                                                                                                                                   | 2002                                       |        | 2001   |        | 2000     |        | 1999   |        | 1998   |           
|Fixed charges:                                                                                                                     |                                            |        |       
|                                                                                                                                   | Interest expense                           | $230.3 |        | $249.7 |          | $251.7 |        | $182.5 |        | $220.6    
|                                                                                                                                   | Amortization of debt discount and expense  | 6.6    |        | 7.4    |          | 6.1    |        | 6.7    |        | 7.0       
|                                                                                                                                   | Rentals (one-third of rentals)             | 27.3   |        | 33.6   |          | 25.6   |        | 22.8   |        | 22.4      
|                                                                                                                                   | Capitalized interest                       | 2.8    |        | 3.2    |          | 3.6    |        | 3.0    |        | 2.9       
|                                                                                                                                   | Equity-linked security charges             | 0.0    |        | 8.3    |          | 25.6   |        | 25.6   |        | 19.7      
|                                                                                                                                   |                                            |        |        |        |          |        |        |        |        |           
|Total fixed charges                                                                                                                | $267.0                                     |        | $302.2 |        | $312.6   |        | $240.6 |        | $272.6 |           
|                                                                                                                                   |                                            |        |        |        |          |        |        |        |        |           
|                                                                                                                                   |                                            |        |       
|                                                                                                                                   |                                            |        |       
|Earnings from continuing operations
      before                                                                                   |                                            |        |       
|cumulative effect of change in
      accounting principle                                                                          | $367.4                                     |        | $182.1 |        | $437.3   |        | $460.8 |        | $376.4 |           
|Add:                                                                                                                               | Minority income of majority-owned          |        |        |        |         
|                                                                                                                                   | subsidiaries                               | 14.5   |        | 20.7   |          | 39.8   |        | 29.1   |        | 23.5      
|                                                                                                                                   | Taxes on income from continuing operations | 20.3   |        | (48.1) |          | 226.5  |        | 239.4  |        | 208.9     
|                                                                                                                                   | Fixed charges                              | 267.0  |        | 302.2  |          | 312.6  |        | 240.6  |        | 272.6     
|Less:                                                                                                                              | Capitalized interest                       | 2.8    |        | 3.2    |          | 3.6    |        | 3.0    |        | 2.9       
|                                                                                                                                   | Undistributed earnings (losses) from       |        |        |        |         
|                                                                                                                                   | less than 50% owned affiliates             | (0.1)  |        | 0.2    |          | 0.1    |        | (0.5)  |        | (0.3)     
|                                                                                                                                   |                                            |        |        |        |          |        |        |        |        |           
|Earnings available for fixed
      charges                                                                                         | $666.5                                     |        | $453.5 |        | $1,012.5 |        | $967.4 |        | $878.8 |           
|                                                                                                                                   |                                            |        |        |        |          |        |        |        |        |           
|                                                                                                                                   |                                            |        |        |        |          |        |        |        |        |           
|Ratio of earnings to fixed
    charges                                                                                             | 2.50                                       |        | 1.50   |        | 3.24     |        | 4.02   |        | 3.22   |           
|                                                                                                                                   |                                            |        |        |        |          |        |        |       
|                                                                                                                                   |                                            |        |       
|Undistributed earnings (losses)
      from                                                                                         |                                            |        |       
|less than 50% owned
      affiliates:                                                                                              |                                            |        |       
|                                                                                                                                   | Equity in earnings (losses)                | $0.6   |        | $0.9   |          | $1.0   |        | $0.2   |        | $0.1      
|Less:                                                                                                                              | Amounts Distributed                        | 0.7    |        | 0.7    |          | 0.9    |        | 0.7    |        | 0.4       
|                                                                                                                                   |                                            |        |        |        |          |        |        |        |        |           
|                                                                                                                                   | Undistributed earnings (losses)            |        |        |        |          |        |       
|                                                                                                                                   | from less than 50% owned affiliates        | ($0.1) |        | $0.2   |          | $0.1   |        | ($0.5) |        | ($0.3)    
|                                                                                                                                   |                                            |        |        |        |          |        |        |        |        |           
|                                                                                                                                   |                                            |        |        |        |          |        |        |        |        |           
|                                                                                                                                   |                                            |        |        |        |          |        |        |        |        |           
|All amounts have been restated to reflect
    a reclassification of discontinued operations  for the Engineered Solutions Business