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Filing tables
Filing exhibits
- 10-K Annual report
- 11 Statement Re: Computation of Per Share Earnings
- 12 Statement Re: Computation of Ratios
- 13 Excerpt from Utc's 2013 Annual Report to Shareowners for the Year Ended December
- 21 Subsidiaires of the Registrant
- 23 Consent of Pricewaterhousecoopers LLP
- 24 Powers of Attorney of John V. Faraci, Jean-pierre Garnier, Jamie S. Gorelick, Ed
- 31.1 Rule 13A-14(A)/15D-14(A) Certifications
- 31.2 Rule 13A-14(A)/15D-14(A) Certifications
- 31.3 Rule 13A-14(A)/15D-14(A) Certifications
- 32 Section 1350 Certifications
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Exhibit 12
UNITED TECHNOLOGIES CORPORATION
AND SUBSIDIARIES
STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Full year | |||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||
Fixed Charges: | |||||||||||||||||||
Interest expense1 | $ | 1,034 | $ | 893 | $ | 673 | $ | 751 | $ | 705 | |||||||||
Interest capitalized | 22 | 19 | 20 | 17 | 18 | ||||||||||||||
One-third of rents2 | 152 | 152 | 151 | 148 | 154 | ||||||||||||||
Total fixed charges | $ | 1,208 | $ | 1,064 | $ | 844 | $ | 916 | $ | 877 | |||||||||
Earnings: | |||||||||||||||||||
Income from continuing operations before income taxes | $ | 8,312 | $ | 6,911 | $ | 7,350 | $ | 6,248 | $ | 5,575 | |||||||||
Fixed charges per above | 1,208 | 1,064 | 844 | 916 | 877 | ||||||||||||||
Less: capitalized interest | (22 | ) | (19 | ) | (20 | ) | (17 | ) | (18 | ) | |||||||||
1,186 | 1,045 | 824 | 899 | 859 | |||||||||||||||
Amortization of interest capitalized | 11 | 13 | 17 | 17 | 17 | ||||||||||||||
Total earnings | $ | 9,509 | $ | 7,969 | $ | 8,191 | $ | 7,164 | $ | 6,451 | |||||||||
Ratio of earnings to fixed charges | 7.87 | 7.49 | 9.70 | 7.82 | 7.36 |
1 | Pursuant to the guidance in the Income Taxes Topic of the FASB ASC, interest related to unrecognized tax benefits recorded was approximately $51 million, $40 million, $23 million, $27 million and $21 million for the years 2013, 2012, 2011, 2010 and 2009, respectively. The ratio of earnings to fixed charges would have been 8.22, 7.78, 9.98, 8.06 and 7.54 for the years 2013, 2012, 2011, 2010 and 2009, respectively, if such interest were excluded from the calculation. |
2 | Reasonable approximation of the interest factor. |