Eaton Corporation plc

Third Quarter 2014 Report on Form 10-Q

Item 6

Exhibit 12

Ratio of Earnings to Fixed Charges

	Nine months ended September 30			Year ended December 31
(Millions of dollars)	2014			2013		2012			2011			2010			2009
Income from continuing operations before income taxes    and noncontrolling interests in consolidated subsidiaries	$	1,152		$	1,884	$	1,251		$	1,553		$	1,036		$	303
Adjustments
(Income) losses of equity investees	(5		)	2		(2		)	(2		)	(14		)	(6		)
Distributed income of equity investees	3			77		19			3			15			9
Interest expensed	191			290		165			154			162			170
Amortization of premiums, discounts and capitalized    expenses related to indebtedness	7			10		74			4			4			5
Estimated portion of rent expense representing interest	62			80		66			65			57			59
Amortization of capitalized interest	11			13		12			10			10			13
Adjusted income from continuing operations before    income taxes	$	1,421		$	2,356	$	1,585		$	1,787		$	1,270		$	553
Fixed charges
Interest expensed	$	191		$	290	$	165		$	154		$	162		$	170
Interest capitalized	10			11		23			18			8			7
Amortization of premiums, discounts and capitalized    expenses related to indebtedness	7			10		74			4			4			5
Estimated portion of rent expense representing interest	62			80		66			65			57			59
Total fixed charges	$	270		$	391	$	328		$	241		$	231		$	241
Ratio of earnings to fixed charges	5.26			6.03		4.83			7.41			5.50			2.29