Eaton Corporation
Third Quarter 2010 Report on Form 10-Q
Item 6
Exhibit 12
Ratio of Earnings to Fixed Charges

	Nine
	months
	ended
	Sept. 30,			Year ended December 31
	2010			2009			2008			2007			2006		2005
Income from continuing operations before income taxes & noncontrolling interests in consolidated subsidiaries	$	743		$	303		$	1,140		$	1,055		$	979	$	969
Adjustments
(Income) losses of equity investees		(8	)		(6	)		(11	)		(6	)		1		1
Distributed income of equity investees		8			9			1			1			1		4
Interest expensed		120			170			192			193			139		109
Amortization of debt issue costs		3			5			2			1			1		1
Estimated portion of rent expense representing interest		44			59			58			44			41		38
Amortization of capitalized interest		8			13			13			12			12		12
Adjusted income from continuing operations before income taxes	$	918		$	553		$	1,395		$	1,300		$	1,174	$	1,134
Fixed charges
Interest expensed	$	120		$	170		$	192		$	193		$	139	$	109
Interest capitalized		5			7			13			14			14		13
Amortization of debt issue costs		3			5			2			1			1		1
Estimated portion of rent expense representing interest		44			59			58			44			41		38
Total fixed charges	$	172		$	241		$	265		$	252		$	195	$	161
Ratio of earnings to fixed charges		5.34			2.29			5.26			5.16			6.02		7.04