<DOCUMENT>
<TYPE>EX-12.1
<SEQUENCE>6
<FILENAME>y64752ex12-1.txt
<DESCRIPTION>COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
<TEXT>
<PAGE>   1

                                                                    Exhibit 12.1

              SPX COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

   The following table sets forth the ratio of earnings to fixed charges for
   SPX for the years ended December 31, 1996, 1997, 1998, 1999, and 2000 and
  for the six months ended June 30, 2000 and June 20, 2001. All dollar amounts
        presented in this exhibit are stated in millions, except ratios.


<TABLE>
<CAPTION>
                                                                                                              Six months ended
                                                               Year ended December 31                             June 30,
                                             ----------------------------------------------------------    ----------------------
                                             1996 (5)    1997 (6)    1998 (7)     1999 (8)     2000 (9)    2000 (10)    2001 (11)
                                             --------    --------    --------     --------     --------    ---------    ---------

<S>                                          <C>         <C>         <C>          <C>          <C>         <C>          <C>
Ratio of earnings to fixed charges (1)(2)         5.7         7.7        (0.3)         1.8          3.0          3.9          2.5

Earnings:
Pretax income from continuing operations     $  133.4    $  131.0    $  (41.7)    $  107.5     $  198.3     $  146.3     $   88.7
Fixed Charges                                    28.3        19.6        51.0        126.0        101.8         49.8         58.0
JV Earnings, net of distributions                 -           -         (24.7)        (3.2)         0.3         (0.6)        (0.3)
                                             --------    --------    --------     --------     --------     --------     --------
Total Earnings                               $  161.7    $  150.6    $  (15.4)    $  230.3     $  300.4     $  195.5     $  146.4

Fixed Charges:
Interest (3)                                 $   21.5    $   13.2    $   45.1     $  117.6     $   95.0     $   46.4     $   55.0
Rent expense interest factor (4)                  6.8         6.4         5.9          8.4          6.8          3.4          3.0
                                             --------    --------    --------     --------     --------     --------     --------
Total fixed charges                          $   28.3    $   19.6    $   51.0     $  126.0     $  101.8     $   49.8     $   58.0
</TABLE>

(1)   For the purpose of determining the ratio of earnings to fixed charges,
      earnings consists of income from continuing operations and fixed charges.

(2)   On October 6, 1998 (the "Merger Date"), General Signal Corporation ("GSX")
      was merged into a subsidiary of SPX Corporation (the "Merger"). The Merger
      was accounted for as a reverse acquisition whereby GSX was treated as the
      acquirer and SPX as the acquire.

(3)   Interest expense consists of net interest expense on indebtedness and
      amortization of deferred financing expenses.

(4)   One-third of net rental expense is deemed representative of the interest
      factor.

      EARNINGS FOR YEARS ENDED DECEMBER 31, 1996, 1997, 1998, 1999 AND 2000 AND
      THE SIX MONTHS ENDED JUNE 30, 2000 AND 2001 INCLUDE THE FOLLOWING SPECIAL
      CHARGES AND OTHER UNUSUAL ITEMS:

(5)   In 1996, we negotiated a royalty settlement related to a previously
      divested semiconductor business and received and recorded $4.0 of royalty
      income. We also recorded charges of $20.0 for asset write-downs, lease
      termination costs, severance, warranty repairs and environmental matters.

(6)   We recorded other charges of $17.9 in 1997. We also recorded a $63.7
      pre-tax gain on the sale of General Signal Power Group and a $9.0 pre-tax
      gain on the sale of an equity interest.
<PAGE>   2
                                                                    Exhibit 12.1

(7)   In 1998, earnings were not sufficient to cover fixed charges by
      approximately $42.0. We recorded special charges of $101.7 and other
      charges of $108.2 in 1998.

(8)   We recorded special charges of $38.4 in 1999 for merger and restructuring
      initiatives. We also recorded a $23.8 pre-tax gain on the divestiture of
      Best Power, a $29.0 pre-tax gain on the divestiture of Dual-Lite and an
      investment in a Japanese joint venture, and a $13.9 pre-tax gain on the
      sale of marketable securities.

(9)   We recorded special charges of $90.9 in 2000. These charges are primarily
      associated with restructuring initiatives and asset impairments to
      consolidate manufacturing and sales facilities and rationalize certain
      product lines. We also recorded a charge of $12.3 included in cost of
      products sold for discontinued product lines associated with restructuring
      and other product changes. Additionally, our business unit Inrange
      Technologies, issued 8,855,000 shares of its class B common stock for cash
      in an initial public offering. Accordingly, we recorded a $98.0 pre-tax
      gain. We also recorded a $23.2 pre-tax gain on the settlement of a patent
      infringement suit against American Power Conversion Corporation in 2000.

(10)  For the six months ended June 30, 2000, we recorded special charges of
      $21.7. These charges are primarily associated with work force reductions,
      asset write-downs, and other costs associated with plant consolidation,
      and other restructuring actions. Additionally, we recorded a $23.2 pre-tax
      gain on the settlement of a patent infringement suit against American
      Power Conversion Corporation.

(11)  For the six months ended June 30, 2001 we recorded special charges of
      $57.4 ($13.5 included as part of cost of products sold). These charges
      related primarily to work force reductions, asset write-downs, and other
      cash costs associated with plant consolidation, exiting certain product
      lines and facilities, and other restructuring actions. This charge also
      consisted of amounts of $4.1 and $14.9 primarily related to the
      abandonment of an internet-based software system and the costs associated
      with the announced move of our corporate headquarters, respectively. We
      recorded a $11.8 pre-tax loss associated with the divestiture of
      substantially all of the assets and liabilities of our GS Electric
      business.

</TEXT>
</DOCUMENT>
