EX-12 2 etn06302012ex12.htm EX-12 ETN 06.30.2012 EX 12


Eaton Corporation
Second Quarter 2012 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)
 
2012
 
2011
 
2010
 
2009
 
2008
 
2007
Income from continuing operations before income taxes and
   noncontrolling interests in consolidated subsidiaries
 
$
787

 
$
1,553

 
$
1,036

 
$
303

 
$
1,140

 
$
1,055


Adjustments
 
 
 
 
 
 
 
 
 
 
 
 
(Income) losses of equity investees
 
4

 
(2
)
 
(14
)
 
(6
)
 
(11
)
 
(6
)
Distributed income of equity investees
 
2

 
3

 
15

 
9

 
1

 
1

Interest expensed
 
71

 
154

 
162

 
170

 
192

 
193

Amortization of debt issue costs
 
2

 
4

 
4

 
5

 
2

 
1

Estimated portion of rent expense representing interest
 
32

 
65

 
57

 
59

 
58

 
44

Amortization of capitalized interest
 
6

 
10

 
10

 
13

 
13

 
12

Adjusted income from continuing operations before
   income taxes
 
$
904

 
$
1,787

 
$
1,270

 
$
553

 
$
1,395

 
$
1,300


Fixed charges
 
 
 
 
 
 
 
 
 
 
 
 
Interest expensed
 
$
71

 
$
154

 
$
162

 
$
170

 
$
192

 
$
193

Interest capitalized
 
12

 
18

 
8

 
7

 
13

 
14

Amortization of debt issue costs
 
2

 
4

 
4

 
5

 
2

 
1

Estimated portion of rent expense representing interest
 
32

 
65

 
57

 
59

 
58

 
44

Total fixed charges
 
$
117

 
$
241

 
$
231

 
$
241

 
$
265

 
$
252

 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
7.73

 
7.41

 
5.50

 
2.29

 
5.26

 
5.16