RATIO OF EARNINGS TO FIXED CHARGES

Praxair, Inc. and Subsidiaries

EXHIBIT 12.01

(Dollar amounts in millions, except ratios)	Year Ended December 31,
	2009			2008			2007			2006			2005
Pre-tax income from continuing operations before adjustment for noncontrolling interests in consolidated subsidiaries or income or loss from equity investees	$	1,442		$	1,685		$	1,613		$	1,364		$	1,130
Capitalized interest		(55	)		(44	)		(35	)		(21	)		(11	)
Depreciation of capitalized interest		17			17			15			14			14
Dividends from less than 50%-owned companies carried at equity		11			24			8			9			17
Adjusted pre-tax income from continuing operations before adjustment for noncontrolling interests in consolidated subsidiaries or income or loss from equity investees	$	1,415		$	1,682		$	1,601		$	1,366		$	1,150
Fixed charges
Interest on long-term and short-term debt	$	133		$	198		$	173		$	155		$	163
Capitalized interest		55			44			35			21			11
Rental expenses representative of an interest factor		37			37			34			32			32
Total fixed charges	$	225		$	279		$	242		$	208		$	206
Adjusted pre-tax income from continuing operations before adjustment for noncontrolling interests in consolidated subsidiaries or income or loss from equity investees plus total fixed charges	$	1,640		$	1,961		$	1,843		$	1,574		$	1,356
RATIO OF EARNINGS TO FIXED CHARGES		7.3			7.0			7.6			7.6			6.6