EX-12 4 v112540_ex12.htm
Exhibit 12
 
EMERSON ELECTRIC CO. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in Millions)
 
 
 
  
 
 
     YEAR ENDED SEPTEMBER 30,               
  
SIX MONTHS
ENDED
MARCH 31,
  
  
  
 2003  
 
 2004  
 
 2005 
 
 2006 
 
 2007 
 
2008   
  
Earnings:
                          
 Earnings before income taxes (a)
 
$
1,452
    
1,893
   
2,200
   
2,749
   
3,178
   
1,682
 
 Fixed charges
    
322
    
311
    
323
    
313
    
361
    
177
  
                                       
    Earnings, as defined
  
$
1,774
    
2,204
    
2,523
    
3,062
    
3,539
    
1,859
  
 
                            
Fixed Charges:
                                      
 Interest expense
  
$
246
    
234
   
243
   
225
   
261
   
127
 
One-third of all rents
    
76
    
77
    
80
    
88
    
100
    
50
  
                                       
    Total fixed charges
  
$
322
    
311
    
323
    
313
    
361
    
177
  
 
                          
Ratio of Earnings to Fixed Charges
    
5.5x
   
7.1x
   
7.8x
   
9.8x
   
9.8x
   
10.5x
 
 
(a)
Represents earnings from continuing operations before income taxes, cumulative effect of change in accounting principle and minority interests in the income of consolidated subsidiaries with fixed charges.