Form: 10-Q

Quarterly report [Sections 13 or 15(d)]

May 7, 2004

Documents

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,

 

  

  1999 

  2000 

 2001 

 

 2002 

 

 2003 

 

   2004    


Earnings:
 Earnings before income taxes (a) (b)
 Fixed charges



$ 2,064 
    258 



2,192 
    359 



1,650  
   376  



1,622  
   321  



1,452  
   322  



841    
   160    


    Earnings, as defined

 


$ 2,322

 


  2,551

 


 2,026

  


 1,943

  


  1,774  


 1,001

    

 

 

 

 

 

 

 

 

Fixed Charges:
 Interest expense
 One-third of all rents (b)
  


$   199 
     59 


292 
     67 


304  
    72  


250  
    71  


246  
    76  


122    
    38    

    Total fixed charges

 

$   258

 

    359

 

   376

  

   321

  

  322

  

   160

    

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

   9.0

x

    7.1

x

   5.4

x 

   6.1

x 

   5.5

x 

   6.3

x   

 

 

 

 

 

 

 

 

(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.

(b)

The operating results of Dura-Line have been reclassified to discontinued operations for all years presented.