Eaton Corp plc - FORM 10-Q - EX-12 - EXHIBIT 12 - August 2, 2016

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10-Q - 10-Q - Eaton Corp plcetn0630201610-q.htm


Eaton Corporation plc
Second Quarter 2016 Report on Form 10-Q
Item 6
Exhibit 12
Ratio of Earnings to Fixed Charges

 
 
Six months ended
June 30
 
Year ended December 31
(Millions of dollars)
 
2016
 
2015
 
2014
 
2013
 
2012
 
2011
Income from continuing operations before income taxes
   and noncontrolling interests in consolidated subsidiaries
 
$
995

 
$
2,145

 
$
1,761

 
$
1,884

 
$
1,251

 
$
1,553


Adjustments
 
 
 
 
 
 
 
 
 
 
 
 
(Income) losses of equity investees
 
(7
)
 
(11
)
 
(6
)
 
2

 
(2
)
 
(2
)
Distributed income of equity investees
 
5

 
9

 
4

 
77

 
19

 
3

Interest expensed
 
118

 
237

 
250

 
290

 
165

 
154

Amortization of debt issue costs
 
4

 
8

 
9

 
10

 
74

 
4

Estimated portion of rent expense representing interest
 
37

 
75

 
81

 
80

 
66

 
65

Amortization of capitalized interest
 
7

 
10

 
14

 
13

 
12

 
10

Adjusted income from continuing operations before
   income taxes
 
$
1,159

 
$
2,473

 
$
2,113

 
$
2,356

 
$
1,585

 
$
1,787


Fixed charges
 
 
 
 
 
 
 
 
 
 
 
 
Interest expensed
 
$
118

 
$
237

 
$
250

 
$
290

 
$
165

 
$
154

Interest capitalized
 
6

 
13

 
13

 
11

 
23

 
18

Amortization of debt issue costs
 
4

 
8

 
9

 
10

 
74

 
4

Estimated portion of rent expense representing interest
 
37

 
75

 
81

 
80

 
66

 
65

Total fixed charges
 
$
165

 
$
333

 
$
353

 
$
391

 
$
328

 
$
241

 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
7.02

 
7.43

 
5.99

 
6.03

 
4.83

 
7.41






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