Textron (TXT) 10-Q 2003 Q3 Quarterly report

EXHIBIT 12.2

TEXTRON INC.
INCLUDING ALL MAJORITY-OWNED SUBSIDIARIES

COMPUTATION OF RATIO OF INCOME TO
COMBINED FIXED CHARGES AND PREFERRED SECURITIES DIVIDENDS

(unaudited)

(In millions except ratio)

	Nine Months Ended September 28, 2002
Fixed charges:
Interest expense	$	251
Distributions on preferred securities of subsidiary trusts, net of income taxes		19
Estimated interest portion of rents		26
Total fixed charges	$	296
Income:
Income before income taxes and distributions on preferred           securities of subsidiary trusts	$	363
Fixed charges *		277
Adjusted income	$	640
Ratio of income to fixed charges		2.16

*     Adjusted to exclude distributions on preferred securities of subsidiary trusts, net of income taxes.