Exhibit 12
UNITED TECHNOLOGIES CORPORATION
AND SUBSIDIARIES
STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Nine Months Ended | ||||
In Millions of Dollars | 2001 | 2000 | ||
Fixed Charges: | ||||
Interest expense | $ | 316 | $ | 276 |
Interest capitalized | 19 | 12 | ||
One-third of rents* | 50 | 50 | ||
Total Fixed Charges | $ | 385 | $ | 338 |
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Earnings: | ||||
Income before income taxes and minority interests | $ | 2,272 | $ | 2,119 |
Fixed charges per above | 385 | 338 | ||
Less: interest capitalized | (19) | (12) | ||
366 | 326 | |||
Amortization of interest capitalized | 9 | 12 | ||
Total Earnings | $ | 2,647 | $ | 2,457 |
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Ratio of Earnings to Fixed Charges | 6.88 | 7.27 | ||
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* Reasonable approximation of the interest factor.