Emerson Electric (EMR) 10-K 2002 FY Annual report

<PAGE>                                                             Exhibit 12

EMERSON ELECTRIC CO. AND SUBSIDIARIES
COMPUTATION OFRATIO OF EARNINGS TO FIXED CHARGES
(Dollars in Millions)

              YEAR ENDED SEPTEMBER 30,           

	1998	1999	2000	2001	2002
Earnings:  Income before income taxes (a)  Fixed charges	$ 2,002      218	2,064      258	2,213      359	1,625      377	1,597      322
Earnings, as defined	$ 2,220	2,322	2,572	2,002	1,919
Fixed Charges:  Interest expense  One-third of all rents	$   161       57	199       59	292       67	304       73	250       72
Total fixed charges	$   218	258	359	377	322
Ratio of Earnings to Fixed Charges	10.2x	9.0x	7.2x	5.3x	6.0x

  (a) Represents income before income taxes and cumulative effect of change in accounting principle and minority interests in the income of consolidated subsidiaries with fixed charges.