<PAGE> Exhibit 12
EMERSON ELECTRIC CO. AND SUBSIDIARIES
COMPUTATION OFRATIO OF EARNINGS TO FIXED CHARGES
(Dollars in Millions)
YEAR ENDED SEPTEMBER 30,
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| 1999 | 2000 | 2001 | 2002 | 2003 |
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Fixed Charges: |
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Total fixed charges |
| $ 258 | 359 | 376 | 321 | 322 |
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Ratio of Earnings to Fixed Charges | 9.0x | 7.1x | 5.4x | 6.1x | 5.5x |
(a) | Represents earnings from continuing operations before income taxes and cumulative effect of change in accounting principle and minority interests in the income of consolidated subsidiaries with fixed charges. |
(b) | The operating results of Dura-Line have been reclassified to discontinued operations for all years presented. |