Eaton Corporation plc

First Quarter 2014 Report on Form 10-Q

Item 6

Exhibit 12

Ratio of Earnings to Fixed Charges

	Three months ended March 31			Year ended December 31
(Millions of dollars)	2014			2013		2012			2011			2010			2009
Income from continuing operations before income taxes    and noncontrolling interests in consolidated subsidiaries	$	453		$	1,884	$	1,251		$	1,553		$	1,036		$	303
Adjustments
(Income) loss of equity investees	(2		)	2		(2		)	(2		)	(14		)	(6		)
Distributed income of equity investees	—			77		19			3			15			9
Interest expensed	67			290		165			154			162			170
Amortization of debt issue costs	2			10		74			4			4			5
Estimated portion of rent expense representing interest	21			80		66			65			57			59
Amortization of capitalized interest	3			13		12			10			10			13
Adjusted income from continuing operations before    income taxes	$	544		$	2,356	$	1,585		$	1,787		$	1,270		$	553
Fixed charges
Interest expensed	$	67		$	290	$	165		$	154		$	162		$	170
Interest capitalized	3			11		23			18			8			7
Amortization of debt issue costs	2			10		74			4			4			5
Estimated portion of rent expense representing interest	21			80		66			65			57			59
Total fixed charges	$	93		$	391	$	328		$	241		$	231		$	241
Ratio of earnings to fixed charges	5.85			6.03		4.83			7.41			5.50			2.29