Form: 10-K

Annual report [Section 13 and 15(d), not S-K Item 405]

December 23, 2002

Documents

<PAGE>                                                             Exhibit 12

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

 

              YEAR ENDED SEPTEMBER 30,           

 

  

  1998 

 

  1999 

 

  2000 

 

 2001 

  

  2002   


Earnings:
 Income before income taxes (a)
 Fixed charges



$ 2,002 
    218 



2,064 
    258 



2,213 
    359 



1,625  
   377  



1,597  
   322  


    Earnings, as defined

 


$ 2,220

 


  2,322

 


  2,572

 


 2,002

  


 1,919

  

 

 

 

 

 

 

 

Fixed Charges:
 Interest expense
 One-third of all rents
  


$   161 
     57 


199 
     59 


292 
     67 


304  
    73  


250  
    72  

    Total fixed charges

 

$   218

 

    258

 

    359

 

   377

  

   322

  

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

   10.2

x

    9.0

x

    7.2

x

   5.3

x 

   6.0

x 

 

  (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.