Eaton Corporation plc

2016 Annual Report on Form 10-K

Item 15(b)

Exhibit 12

Ratio of Earnings to Fixed Charges

	Year ended December 31
(In millions)	2016			2015			2014			2013		2012
Income from continuing operations before income taxes and   noncontrolling interests in consolidated subsidiaries	$	2,127		$	2,145		$	1,761		$	1,884	$	1,251
Adjustments
(Income) loss of equity investees	(14		)	(11		)	(6		)	2		(2		)
Distributed income of equity investees	9			9			4			77		19
Interest expensed	240			237			250			290		165
Amortization of debt issue costs	7			8			9			10		74
Estimated portion of rent expense representing interest	73			75			81			80		66
Amortization of capitalized interest	12			10			14			13		12
Adjusted income from continuing operations before   income taxes	$	2,454		$	2,473		$	2,113		$	2,356	$	1,585
Fixed charges
Interest expensed	$	240		$	237		$	250		$	290	$	165
Interest capitalized	12			13			13			11		23
Amortization of debt issue costs	7			8			9			10		74
Estimated portion of rent expense representing interest	73			75			81			80		66
Total fixed charges	$	332		$	333		$	353		$	391	$	328
Ratio of earnings to fixed charges	7.39			7.43			5.99			6.03		4.83