EX-12 3 ex12-04.htm

Exhibit 12

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

 

YEAR ENDED SEPTEMBER 30,
2000
2001
2002
2003
2004
Earnings:                        
 Earnings before income taxes (a)     $ 2,192     1,650     1,622     1,452     1,893  
 Fixed charges       359     376     321     322     311  
    Earnings, as defined     $ 2,551     2,026     1,943     1,774     2,204  
Fixed Charges:    
 Interest expense     $ 292     304     250     246     234  
 One-third of all rents       67     72     71     76     77  
    Total fixed charges     $ 359     376     321     322     311  
Ratio of Earnings to Fixed Charges       7.1x     5.4x     6.1x     5.5x     7.1x  


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