EXHIBIT 12
EMERSON ELECTRIC CO. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN MILLIONS)
NINE MONTHS
ENDED
YEAR ENDED SEPTEMBER 30, JUNE 30,
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1990 1991 1992 1993 1994 1995
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Earnings:
Income before income taxes and cumulative
effects of changes in accounting principles.. $ 990.2 1,010.7 1,046.4 1,108.8 1,423.4 1,080.1
Fixed charges................................. 165.8 165.8 137.1 171.9 141.8 119.4
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Earnings, as defined........................ $1,156.0 1,176.5 1,183.5 1,280.7 1,565.2 1,199.5
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Fixed Charges:
Interest expense.............................. $ 132.7 131.3 101.9 133.5 101.9 89.5
One-third of all rents........................ 33.1 34.5 35.2 38.4 39.9 29.9
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Total fixed charges......................... $ 165.8 165.8 137.1 171.9 141.8 119.4
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Ratio of Earnings to Fixed Charges.............. 7.0x 7.1x 8.6x 7.5x 11.0x 10.0x
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Includes proportionate share of earnings and fixed charges of
50%-owned equity investees and the distributed earnings of less-
than-50%-owned equity investees.
Includes non-recurring items of $192.0 million and $34.3 million in
1994 and 1995, respectively. Excluding these items, the ratio of
earnings to fixed charges would have been 9.7x and 9.8x in 1994 and
1995, respectively.