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Exhibit 12
UNITED TECHNOLOGIES CORPORATION
AND SUBSIDIARIES
STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Six Months Ended | ||||
In Millions of Dollars | 2001 | 2000 | ||
Fixed Charges: | ||||
Interest expense | $ | 216 | $ | 179 |
Interest capitalized | 13 | 8 | ||
One-third of rents* | 32 | 32 | ||
Total Fixed Charges | $ | 261 | $ | 219 |
====== | ====== | |||
Earnings: | ||||
Income before income taxes and minority interests | $ | 1,550 | $ | 1,366 |
Fixed charges per above | 261 | 219 | ||
Less: interest capitalized | (13) | (8) | ||
248 | 211 | |||
Amortization of interest capitalized | 8 | 8 | ||
Total Earnings | $ | 1,806 | $ | 1,585 |
====== | ====== | |||
Ratio of Earnings to Fixed Charges | 6.92 | 7.24 | ||
====== | ====== |
* Reasonable approximation of the interest factor.