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EXHIBIT 12.1
TEXTRON INC.
MANUFACTURING GROUP
COMPUTATION OF RATIO OF INCOME TO FIXED CHARGES
(unaudited)
(In millions, except ratio)
MANUFACTURING GROUP
COMPUTATION OF RATIO OF INCOME TO FIXED CHARGES
(unaudited)
(In millions, except ratio)
Six Months | ||||
Ended | ||||
July 2, 2011 | ||||
Fixed charges: | ||||
Interest expense* | $ | 88 | ||
Estimated interest portion of rents | 14 | |||
Total fixed charges | $ | 102 | ||
Income: | ||||
Income from continuing operations before income taxes | $ | 181 | ||
Fixed charges | 102 | |||
Dividends received from TFC | 179 | |||
Capital contributions paid to TFC under Support Agreement | (112 | ) | ||
Eliminate pretax loss of Finance group | 77 | |||
Adjusted income | $ | 427 | ||
Ratio of income to fixed charges | 4.19 | |||
* | Includes interest expense on all third-party indebtedness, except for interest related to unrecognized tax benefits, which is included in income tax expense. |