EXHIBIT 12.1
TEXTRON INC.
MANUFACTURING GROUP
COMPUTATION OF RATIO OF INCOME TO FIXED CHARGES
(unaudited)
(In millions, except ratio)
|
| Six Months Ended |
| |
Fixed charges: |
|
|
| |
Interest expense* |
| $ | 68 |
|
Estimated interest portion of rents |
| 8 |
| |
Total fixed charges |
| $ | 76 |
|
|
|
|
| |
Income: |
|
|
| |
Income from continuing operations before income taxes |
| $ | 306 |
|
Fixed charges |
| 76 |
| |
Dividends received from TFC |
| 30 |
| |
Capital contributions paid to TFC |
| (1 | ) | |
Eliminate pretax income of Finance group |
| (34 | ) | |
Adjusted income |
| $ | 377 |
|
|
|
|
| |
Ratio of income to fixed charges |
| 4.96 |
| |
* Includes interest expense on all third-party indebtedness, except for interest related to unrecognized tax benefits, which is included in income tax expense.
