EX-12 2 etn06302011ex12.htm EX-12 ETN 06.30.2011 EX 12


Eaton Corporation
Second Quarter 2011 Report on Form 10-Q
Item 6
Exhibit 12
Ratio of Earnings to Fixed Charges

 
 
Six months ended
June 30
 
Year ended December 31
(Millions of dollars)
 
2011
 
2010
 
2009
 
2008
 
2007
 
2006
Income from continuing operations
  before income taxes and noncontrolling interests in
  consolidated subsidiaries
 
$
731

 
$
1,036

 
$
303

 
$
1,140

 
$
1,055

 
$
979


Adjustments
 
 
 
 
 
 
 
 
 
 
 
 
(Income) losses of equity investees
 
(2
)
 
(14
)
 
(6
)
 
(11
)
 
(6
)
 
1

Distributed income of equity investees
 
2

 
15

 
9

 
1

 
1

 
1

Interest expensed
 
78

 
162

 
170

 
192

 
193

 
139

Amortization of debt issue costs
 
2

 
4

 
5

 
2

 
1

 
1

Estimated portion of rent expense representing interest
 
28

 
57

 
59

 
58

 
44

 
41

Amortization of capitalized interest
 
5

 
10

 
13

 
13

 
12

 
12

Adjusted income from continuing operations before
  income taxes
 
$
844

 
$
1,270

 
$
553

 
$
1,395

 
$
1,300

 
$
1,174


Fixed charges
 
 
 
 
 
 
 
 
 
 
 
 
Interest expensed
 
$
78

 
$
162

 
$
170

 
$
192

 
$
193

 
$
139

Interest capitalized
 
8

 
8

 
7

 
13

 
14

 
14

Amortization of debt issue costs
 
2

 
4

 
5

 
2

 
1

 
1

Estimated portion of rent expense representing interest
 
28

 
57

 
59

 
58

 
44

 
41

Total fixed charges
 
$
116

 
$
231

 
$
241

 
$
265

 
$
252

 
$
195

 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
7.28

 
5.50

 
2.29

 
5.26

 
5.16

 
6.02