Textron (TXT) 10-Q 2013 Q1 Quarterly report

EXHIBIT 12.1

TEXTRON INC.

MANUFACTURING GROUP
COMPUTATION OF RATIO OF INCOME TO FIXED CHARGES
(unaudited)
(In millions, except ratio)

	Three Months Ended March 30, 2013
Fixed charges:
Interest expense*	$	37
Estimated interest portion of rents	8
Total fixed charges	$	45
Income:
Income from continuing operations before income taxes	$	143
Fixed charges	45
Dividends received from TFC	20
Eliminate pretax income of Finance group	(19		)
Adjusted income	$	189
Ratio of income to fixed charges	4.20

*Includes interest expense on all third-party indebtedness, except for interest related to unrecognized tax benefits, which is included in income tax expense.