Eaton Corporation plc

2014 Annual Report on Form 10-K

Item 15(b)

Exhibit 12

Ratio of Earnings to Fixed Charges

	Year ended December 31
(In millions)	2014			2013		2012			2011			2010
Income from continuing operations before income taxes and   noncontrolling interests in consolidated subsidiaries	$	1,761		$	1,884	$	1,251		$	1,553		$	1,036
Adjustments
(Income) loss of equity investees	(6		)	2		(2		)	(2		)	(14		)
Distributed income of equity investees	4			77		19			3			15
Interest expensed	250			290		165			154			162
Amortization of debt issue costs	9			10		74			4			4
Estimated portion of rent expense representing interest	81			80		66			65			57
Amortization of capitalized interest	14			13		12			10			10
Adjusted income from continuing operations before   income taxes	$	2,113		$	2,356	$	1,585		$	1,787		$	1,270
Fixed charges
Interest expensed	$	250		$	290	$	165		$	154		$	162
Interest capitalized	13			11		23			18			8
Amortization of debt issue costs	9			10		74			4			4
Estimated portion of rent expense representing interest	81			80		66			65			57
Total fixed charges	$	353		$	391	$	328		$	241		$	231
Ratio of earnings to fixed charges	5.99			6.03		4.83			7.41			5.50