Eaton Corporation plc

Third Quarter 2015 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)	2015			2014			2013		2012			2011			2010
Income from continuing operations before income taxes    and noncontrolling interests in consolidated subsidiaries	$	1,590		$	1,761		$	1,884	$	1,251		$	1,553		$	1,036
Adjustments
(Income) losses of equity investees	(8		)	(6		)	2		(2		)	(2		)	(14		)
Distributed income of equity investees	7			4			77		19			3			15
Interest expensed	177			250			290		165			154			162
Amortization of debt issue costs	6			9			10		74			4			4
Estimated portion of rent expense representing interest	57			81			80		66			65			57
Amortization of capitalized interest	7			14			13		12			10			10
Adjusted income from continuing operations before    income taxes	$	1,836		$	2,113		$	2,356	$	1,585		$	1,787		$	1,270
Fixed charges
Interest expensed	$	177		$	250		$	290	$	165		$	154		$	162
Interest capitalized	10			13			11		23			18			8
Amortization of debt issue costs	6			9			10		74			4			4
Estimated portion of rent expense representing interest	57			81			80		66			65			57
Total fixed charges	$	250		$	353		$	391	$	328		$	241		$	231
Ratio of earnings to fixed charges	7.34			5.99			6.03		4.83			7.41			5.50