3RD QUARTER 2004
Published on August 12, 2004
Exhibit 12
EMERSON ELECTRIC CO. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in Millions)
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YEAR ENDED SEPTEMBER 30, |
NINE MONTHS ENDED JUNE 30, |
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1999
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2000
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2001
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2002
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2003
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2004
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| Earnings: | ||||||||||||||||||||
| Earnings before income taxes (a) (b) | $ | 2,064 | 2,192 | 1,650 | 1,622 | 1,452 | 1,353 | |||||||||||||
| Fixed charges | 258 | 359 | 376 | 321 | 322 | 234 | ||||||||||||||
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| Earnings, as defined | $ | 2,322 | 2,551 | 2,026 | 1,943 | 1,774 | 1,587 | |||||||||||||
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| Fixed Charges: | ||||||||||||||||||||
| Interest expense | $ | 199 | 292 | 304 | 250 | 246 | 177 | |||||||||||||
| One-third of all rents (b) | 59 | 67 | 72 | 71 | 76 | 57 | ||||||||||||||
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| Total fixed charges | $ | 258 | 359 | 376 | 321 | 322 | 234 | |||||||||||||
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| Ratio of Earnings to Fixed Charges | 9.0x | 7.1x | 5.4x | 6.1x | 5.5x | 6.8x | ||||||||||||||
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(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. |