Emerson Electric (EMR) 10-Q 2008 Q2 Quarterly report

Exhibit 12

EMERSON ELECTRIC CO. AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in Millions)

	YEAR ENDED SEPTEMBER 30,										SIX MONTHS ENDED MARCH 31,
	2003		2004		2005		2006		2007		2008
Earnings:
Earnings before income taxes (a)	$	1,452		1,893		2,200		2,749		3,178		1,682
Fixed charges		322		311		323		313		361		177
Earnings, as defined	$	1,774		2,204		2,523		3,062		3,539		1,859
Fixed Charges:
Interest expense	$	246		234		243		225		261		127
One-third of all rents		76		77		80		88		100		50
Total fixed charges	$	322		311		323		313		361		177
Ratio of Earnings to Fixed Charges		5.5x		7.1x		7.8x		9.8x		9.8x		10.5x

(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.