EX-12 8 y65666exv12.htm EX-12: COMPUTATION OF RATIO OF EARNINGS EX-12: COMPUTATION OF RATIO OF EARNINGS
 

EXHIBIT 12

ROCKWELL AUTOMATION, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

                                             
        FISCAL YEAR ENDED SEPTEMBER 30,
       
        2002   2001   2000   1999   1998
       
 
 
 
 
Earnings Available for Fixed Charges:
                                       
 
Income from continuing operations before income taxes
  $ 233     $ 168     $ 507     $ 438     $ (67 )  
Adjustments:
                                       
 
Undistributed loss (income) of affiliates
    (1 )     1       5       (2 )     (3 )  
 
Minority interest in loss of subsidiaries
    1       (1 )     2       2        
 
   
     
     
     
     
 
 
    233       168       514       438       (70 )  
 
           
     
     
     
 
Add fixed charges included in earnings:
                                       
 
Interest expense
    66       83       73       84       58  
 
Interest element of rentals
    41       41       46       43       43  
 
   
     
     
     
     
 
   
Total
    107       124       119       127       101  
 
   
     
     
     
     
 
 
Total earnings available for fixed charges
  $ 340     $ 292     $ 633     $ 565     $ 31  
 
   
     
     
     
     
 
Fixed charges:
                                       
 
Fixed charges included in earnings
  $ 107     $ 124     $ 119     $ 127     $ 101  
 
Capitalized interest
                1       1       9  
 
   
     
     
     
     
 
 
Total fixed charges
  $ 107     $ 124     $ 120     $ 128     $ 110  
 
   
     
     
     
     
 
Ratio of earnings to Fixed Charges(1)
    3.2       2.4       5.3       4.4       0.3  
 
   
     
     
     
     
 


(1)   In computing the ratio of earnings to fixed charges, earnings are defined as income from continuing operations before income taxes, adjusted for minority interest in income or loss of subsidiaries, undistributed earnings of affiliates, and fixed charges exclusive of capitalized interest. Fixed charges consist of interest on borrowings and that portion of rentals deemed representative of the interest factor.