Exhibit 99.5
UNITED TECHNOLOGIES CORPORATION AND SUBSIDIARIES
Statement Re: Computations of Per Share Earnings
For the Five Years Ended December 31, 2004
(Millions of Dollars, except per share amounts)
2004 | 2003 | 2002 | 2001 | 2000 | |||||||||||||||
Net Income | $ | 2,673 | $ | 2,236 | $ | 2,118 | $ | 1,836 | $ | 1,734 | |||||||||
ESOP Convertible Preferred Stock dividend | — | (24 | ) | (31 | ) | (31 | ) | (32 | ) | ||||||||||
Basic earnings for period | $ | 2,673 | $ | 2,212 | $ | 2,087 | $ | 1,805 | $ | 1,702 | |||||||||
ESOP Convertible Preferred Stock adjustment | — | 23 | 29 | 28 | 28 | ||||||||||||||
Diluted earnings for period | $ | 2,673 | $ | 2,235 | $ | 2,116 | $ | 1,833 | $ | 1,730 | |||||||||
Basic average number of shares outstanding during the period (thousands) | 496,449 | 473,775 | 472,441 | 470,252 | 470,124 | ||||||||||||||
Stock awards (thousands) | 8,970 | 7,017 | 7,067 | 9,156 | 11,256 | ||||||||||||||
ESOP Convertible Preferred Stock (thousands) | — | 22,115 | 26,071 | 25,978 | 26,630 | ||||||||||||||
Diluted average number of shares outstanding during the period (thousands) | 505,419 | 502,907 | 505,579 | 505,386 | 508,010 | ||||||||||||||
Basic earnings per common share | $ | 5.39 | $ | 4.67 | $ | 4.42 | $ | 3.84 | $ | 3.62 | |||||||||
Diluted earnings per common share | $ | 5.29 | $ | 4.44 | $ | 4.19 | $ | 3.64 | $ | 3.41 |