Eaton Corporation plc

2015 Annual Report on Form 10-K

Item 15(b)

Exhibit 12

Ratio of Earnings to Fixed Charges

		Year ended December 31
(In millions)		2015				2014				2013				2012				2011
Income from continuing operations before income taxes and   noncontrolling interests in consolidated subsidiaries		$	2,145			$	1,761			$	1,884			$	1,251			$	1,553
Adjustments
(Income) loss of equity investees		(11		)		(6		)		2				(2		)		(2		)
Distributed income of equity investees		9				4				77				19				3
Interest expensed		237				250				290				165				154
Amortization of debt issue costs		8				9				10				74				4
Estimated portion of rent expense representing interest		75				81				80				66				65
Amortization of capitalized interest		10				14				13				12				10
Adjusted income from continuing operations before   income taxes		$	2,473			$	2,113			$	2,356			$	1,585			$	1,787
Fixed charges
Interest expensed		$	237			$	250			$	290			$	165			$	154
Interest capitalized		13				13				11				23				18
Amortization of debt issue costs		8				9				10				74				4
Estimated portion of rent expense representing interest		75				81				80				66				65
Total fixed charges		$	333			$	353			$	391			$	328			$	241
Ratio of earnings to fixed charges		7.43				5.99				6.03				4.83				7.41