Emerson Electric (EMR) 10-Q 2008 Q3 Quarterly report

Exhibit 12

EMERSON ELECTRIC CO. AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in Millions)

	YEAR ENDED SEPTEMBER 30,										NINE MONTHS ENDED JUNE 30,
	2003		2004		2005		2006		2007		2008
Earnings:
Earnings before income taxes (a)	$	1,452		1,893		2,200		2,749		3,178		2,646
Fixed charges		322		311		323		313		361		263
Earnings, as defined	$	1,774		2,204		2,523		3,062		3,539		2,909
Fixed Charges:
Interest expense	$	246		234		243		225		261		188
One-third of all rents		76		77		80		88		100		75
Total fixed charges	$	322		311		323		313		361		263
Ratio of Earnings to Fixed Charges		5.5x		7.1x		7.8x		9.8x		9.8x		11.0x

(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.