EX-12 3 ex12.htm RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12

 

EXHIBIT 12

EMERSON ELECTRIC CO. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in Millions)

 

 

 

                 YEAR ENDED SEPTEMBER 30,                

THREE MONTHS
   ENDED    
DECEMBER 31,

 

  1997   

  1998   

  1999   

  2000   

  2001   

    2001   

 

 

 

 

 

 

 

Earnings:
 Income before
  income taxes (a)
 Fixed charges



$1,821.7 
   176.5 

 

2,002.3 
   218.2 



2,064.0 
   258.1 



2,212.9 
   359.5 



1,624.3 
   377.3 



     375.1 
      88.3 

Earnings, as defined

$1,998.2 

 2,220.5 

 2,322.1 

 2,572.4 

 2,001.6 

     463.4 

 

 

 

 

 

 

 

Fixed Charges:
 Interest expense
 One-third of all
  rents


$  124.2 

    52.3 


161.4 
 
    56.8 


199.0 
 
    59.1 


292.4 
 
    67.1 


304.3 
 
    73.0 


      70.1 
 
      18.2 

  Total fixed charges

$  176.5 

   218.2 

   258.1 

   359.5 

   377.3 

      88.3 

 

 

 

 

 

 

 

Ratio of Earnings
  to Fixed Charges


    11.3x


    10.2x


     9.0x


     7.2x


     5.3x

  
     5.2x

 

(a) Represents income before income taxes and minority interests in the income of
    consolidated subsidiaries with fixed charges.