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- 10-Q Quarterly report
- 12 Statement Re: Computation of Ratio of Earnings to Fixed Charges
- 15 Letter Re: Unaudited Interim Financial Information
- 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
- 31.4 Rule 13A-14(A)/15D-14(A) Certifications
- 31.5 Rule 13A-14(A)/15D-14(A) Certifications
- 32 Section 1350 Certifications
Exhibit 12
UNITED TECHNOLOGIES CORPORATION
AND SUBSIDIARIES
STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions of dollars) | Three Months Ended March 31, | |||||||
2008 | 2007 | |||||||
Fixed Charges: | ||||||||
Interest expense1 | $ | 165 | $ | 150 | ||||
Interest capitalized | 5 | 4 | ||||||
One-third of rents2 | 33 | 26 | ||||||
Total fixed charges | $ | 203 | $ | 180 | ||||
Earnings: | ||||||||
Income before income taxes and minority interests | $ | 1,509 | $ | 1,354 | ||||
Fixed charges per above | 203 | 180 | ||||||
Less: interest capitalized | (5 | ) | (4 | ) | ||||
198 | 176 | |||||||
Amortization of interest capitalized | 2 | 2 | ||||||
Total earnings | $ | 1,709 | $ | 1,532 | ||||
Ratio of earnings to fixed charges | 8.42 | 8.51 | ||||||
1 | Effective January 1, 2007, we adopted the provisions of Financial Accounting Standards Board Interpretation No. 48, “Accounting for Uncertainty in Income Taxes.” Interest related to unrecognized tax benefits was approximately $12 million and $20 million for the three months ended March 31, 2008 and 2007, respectively. The ratio of earnings to fixed charges would have been 8.95 and 9.58 for the three months ended March 31, 2008 and 2007, respectively, if such interest were excluded from the calculation. |
2 | Reasonable approximation of the interest factor. |