RTX (RTX) 10-Q 2013 Q3 Quarterly report

Exhibit 12

UNITED TECHNOLOGIES CORPORATION

AND SUBSIDIARIES

STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	Nine Months Ended September 30,
(Dollars in millions)	2013			2012
Fixed Charges:
Interest expense1	$	775		$	614
Interest capitalized	17			15
One-third of rents2	108			117
Total fixed charges	$	900		$	746
Earnings:
Income from continuing operations before income taxes	$	6,200		$	5,420
Fixed charges per above	900			746
Less: capitalized interest	(17		)	(15		)
	883			731
Amortization of interest capitalized	9			10
Total earnings	$	7,092		$	6,161
Ratio of earnings to fixed charges	7.88			8.26

¹  Pursuant to the guidance in the Income Taxes Topic of the FASB ASC, interest related to unrecognized tax benefits recorded was approximately $29 million and $31 million for the each of the nine months ended September 30, 2013 and 2012, respectively. The ratio of earnings to fixed charges would have been 8.14 and 8.62 for the nine months ended September 30, 2013 and 2012, respectively, if such interest were excluded from the calculation.

²  Reasonable approximation of the interest factor.