<PAGE>                                                             Exhibit 12

EMERSON ELECTRIC CO. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in Millions)

	YEAR ENDED SEPTEMBER 30,					THREE MONTHS ENDED DECEMBER 31,
	1998	1999	2000	2001	2002	2002
Earnings:  Income before income taxes (a)  Fixed charges	$ 2,002      218	2,064     258	2,213     359	1,625     377	1,597     322	330        80
Earnings, as defined	$ 2,220	2,322	2,572	2,002	1,919	410
Fixed Charges:  Interest expense  One-third of all rents	$   161       57	199      59	292      67	304      73	250      72	62        18
Total fixed charges	$   218	258	359	377	322	80
Ratio of Earnings to Fixed Charges	10.2x	9.0x	7.2x	5.3x	6.0x	5.1x

  (a) Represents income before income taxes and cumulative effect of change in accounting principle and minority interests in the income of consolidated subsidiaries with fixed charges.