Textron (TXT) 10-Q 2014 Q2 Quarterly report

EXHIBIT 12.1

TEXTRON INC.

MANUFACTURING GROUP

COMPUTATION OF RATIO OF INCOME TO FIXED CHARGES

(unaudited)

(In millions, except ratio)

	Six Months Ended June 28, 2014
Fixed charges:
Interest expense*	$	71
Estimated interest portion of rents	16
Total fixed charges	$	87
Income:
Income from continuing operations before income taxes	$	335
Fixed charges	87
Eliminate pretax income of Finance group	(11		)
Adjusted income	$	411
Ratio of income to fixed charges	4.72

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