Published on August 6, 2008
Exhibit
12
EMERSON
ELECTRIC CO. AND SUBSIDIARIES
COMPUTATION
OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars
in Millions)
|
|
YEAR
ENDED SEPTEMBER 30,
|
|
NINE MONTHS
ENDED
JUNE 30,
|
|
|||||||||||||||
|
|
|
2003
|
|
2004
|
|
2005
|
|
2006
|
|
2007
|
|
2008
|
|||||||
|
Earnings:
|
|||||||||||||||||||
|
Earnings
before income taxes (a)
|
$
|
1,452
|
1,893
|
2,200
|
2,749
|
3,178
|
2,646
|
||||||||||||
|
Fixed
charges
|
322
|
311
|
323
|
313
|
361
|
263
|
|||||||||||||
|
Earnings,
as defined
|
$
|
1,774
|
2,204
|
2,523
|
3,062
|
3,539
|
2,909
|
||||||||||||
|
Fixed
Charges:
|
|||||||||||||||||||
|
Interest
expense
|
$
|
246
|
234
|
243
|
225
|
261
|
188
|
||||||||||||
|
One-third
of all rents
|
76
|
77
|
80
|
88
|
100
|
75
|
|||||||||||||
|
Total
fixed charges
|
$
|
322
|
311
|
323
|
313
|
361
|
263
|
||||||||||||
|
Ratio
of Earnings to Fixed Charges
|
5.5x
|
7.1x
|
7.8x
|
9.8x
|
9.8x
|
11.0x
|
|||||||||||||
|
(a)
|
Represents
earnings from continuing operations before income taxes, cumulative
effect
of change in accounting principle and minority interests in the
income of
consolidated subsidiaries with fixed
charges.
|