Exhibit 12
EMERSON ELECTRIC CO. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in Millions)
YEAR ENDED SEPTEMBER 30, | THREE MONTHS ENDED DECEMBER 31, | ||||||||||||||||||
2002 | 2003 | 2004 | 2005 | 2006 | 2006 | ||||||||||||||
Earnings: | |||||||||||||||||||
Earnings before income taxes (a) | $ | 1,622 | 1,452 | 1,893 | 2,200 | 2,749 | 654 | ||||||||||||
Fixed charges | 321 | 322 | 311 | 323 | 313 | 87 | |||||||||||||
Earnings, as defined | $ | 1,943 | 1,774 | 2,204 | 2,523 | 3,062 | 741 | ||||||||||||
Fixed Charges: | |||||||||||||||||||
Interest expense | $ | 250 | 246 | 234 | 243 | 225 | 65 | ||||||||||||
One-third of all rents | 71 | 76 | 77 | 80 | 88 | 22 | |||||||||||||
Total fixed charges | $ | 321 | 322 | 311 | 323 | 313 | 87 | ||||||||||||
Ratio of Earnings to Fixed Charges | 6.1x | 5.5x | 7.1x | 7.8x | 9.8x | 8.5x |
(a) | Represents earnings from continuing operations before income taxes, cumulative effect of change in accounting principle and minority interests in the income of consolidated subsidiaries with fixed charges. |