EATON CORPORATION
SECOND QUARTER 2008 REPORT ON FORM 10-Q
ITEM 6
EXHIBIT 12
RATIO OF EARNINGS TO FIXED CHARGES

	Six months
	ended
	June 30,			Year ended December 31
	2008			2007			2006		2005		2004		2003
Income from continuing operations before income taxes	$	640		$	1,041		$	969	$	964	$	749	$	463
Adjustments
Minority interest in consolidated subsidiaries		7			14			10		5		7		12
(Income) losses of equity investees		(5	)		(6	)		1		1				(3	)
Interest expensed		99			193			139		109		88		93
Amortization of debt issue costs		2			1			1		1		1		2
Estimated portion of rent expense representing interest		26			44			41		38		37		38
Amortization of capitalized interest		6			12			12		12		17		13
Distributed income of equity investees					1			1		4		3
Adjusted income from continuing operations before income taxes	$	775		$	1,300		$	1,174	$	1,134	$	902	$	618
Fixed charges
Interest expensed	$	99		$	193		$	139	$	109	$	88	$	93
Interest capitalized		7			14			14		13		7		7
Amortization of debt issue costs		2			1			1		1		1		2
Estimated portion of rent expense representing interest		26			44			41		38		37		38
Total fixed charges	$	134		$	252		$	195	$	161	$	133	$	140
Ratio of earnings to fixed charges		5.78			5.16			6.02		7.04		6.78		4.41