EXHIBIT 12
EMERSON ELECTRIC CO. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
YEAR ENDED SEPTEMBER 30,
------------------------------------------------------------------------
1996 1997 1998 1999 2000
------------ ----------- ---------- ------------ ------------
Earnings:
Income before income taxes $ 1,611.3 1,821.7 2,002.3 2,064.0 2,212.9
Fixed charges 182.2 176.5 218.2 258.1 359.5
------------- ------------ ---------- ------------ ------------
Earnings, as defined $ 1,793.5 1,998.2 2,220.5 2,322.1 2,572.4
============= ============ ========== ============ ============
Fixed charges:
Interest expense $ 132.3 124.2 161.4 199.0 292.4
One-third of all rents 49.9 52.3 56.8 59.1 67.1
------------- ------------ ---------- ------------ ------------
Total fixed charges $ 182.2 176.5 218.2 258.1 359.5
============= ============ ========== ============ ============
Ratio of Earnings to Fixed Charges 9.8x 11.3x 10.2x 9.0x 7.2x
============= ============ ========== ============ ============
Represents income before income taxes and minority interests in the income of
consolidated subsidiaries with fixed charges.