(Bloomberg) ? Ingersoll-Rand Co., the maker of Bobcat machinery and Thermo-King refrigerated trucks, said it will record $27 million of costs in the third quarter to add to its reserves for a tax audit. The charge equals 8 cents a share, Hamilton, Bermuda-based Ingersoll-Rand said in a regulatory filing. On October 6, the Internal Revenue Service proposed adjustments in connection with an audit of its tax filings from 1998 to 2000, the company said.

The adjustments, which Ingersoll-Rand said it plans to dispute, consist of the disallowance of some capital losses that would result in additional taxes and penalties of about $155 million, plus interest of about $62 million, the company said. Ingersoll-Rand said the IRS issues aren?t related to its incorporation to Bermuda from New Jersey in January 2002 to take advantage of lower tax rates. The company?s tax rate fell to 9.9 percent in 2002 from 22 percent the previous year.