Eaton Corp plc - FORM 10-Q - EX-12 - EXHIBIT 12 - April 29, 2015

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10-Q - FORM 10-Q - Eaton Corp plcetn0331201510-q.htm


Eaton Corporation plc
First Quarter 2015 Report on Form 10-Q
Item 6
Exhibit 12
Ratio of Earnings to Fixed Charges

 
 
Three months ended
March 31
 
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
 
$
505

 
$
1,761

 
$
1,884

 
$
1,251

 
$
1,553

 
$
1,036


Adjustments
 
 
 
 
 
 
 
 
 
 
 
 
(Income) losses of equity investees
 
(3
)
 
(6
)
 
2

 
(2
)
 
(2
)
 
(14
)
Distributed income of equity investees
 
3

 
4

 
77

 
19

 
3

 
15

Interest expensed
 
59

 
250

 
290

 
165

 
154

 
162

Amortization of debt issue costs
 
2

 
9

 
10

 
74

 
4

 
4

Estimated portion of rent expense representing interest
 
19

 
81

 
80

 
66

 
65

 
57

Amortization of capitalized interest
 
—

 
14

 
13

 
12

 
10

 
10

Adjusted income from continuing operations before
   income taxes
 
$
585

 
$
2,113

 
$
2,356

 
$
1,585

 
$
1,787

 
$
1,270


Fixed charges
 
 
 
 
 
 
 
 
 
 
 
 
Interest expensed
 
$
59

 
$
250

 
$
290

 
$
165

 
$
154

 
$
162

Interest capitalized
 
4

 
13

 
11

 
23

 
18

 
8

Amortization of debt issue costs
 
2

 
9

 
10

 
74

 
4

 
4

Estimated portion of rent expense representing interest
 
19

 
81

 
80

 
66

 
65

 
57

Total fixed charges
 
$
84

 
$
353

 
$
391

 
$
328

 
$
241

 
$
231

 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
6.96

 
5.99

 
6.03

 
4.83

 
7.41

 
5.50






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