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Exhibit 12
UNITED TECHNOLOGIES CORPORATION
AND SUBSIDIARIES
STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Quarter Ended | |||||
March 31, | |||||
In Millions of Dollars | 2002 | 2001 | |||
Fixed Charges: | |||||
Interest expense | $ | 99 | $ | 107 | |
Interest capitalized | 4 | 6 | |||
One-third of rents* | 16 | 16 | |||
Total Fixed Charges | $ | 119 | $ | 129 | |
Earnings: | |||||
Income before income taxes and minority interests | $ | 698 | $ | 670 | |
Fixed charges per above | 119 | 129 | |||
Less: interest capitalized | (4) | (6) | |||
115 | 123 | ||||
Amortization of interest capitalized | 1 | 5 | |||
Total Earnings | $ | 814 | $ | 798 | |
Ratio of Earnings to Fixed Charges | 6.84 | 6.19 |
* Reasonable approximation of the interest factor.