Textron (TXT) 10-K 2015 FY Annual report

EXHIBIT 12.2

TEXTRON INC. INCLUDING ALL MAJORITY-OWNED SUBSIDIARIES

COMPUTATION OF RATIO OF INCOME TO FIXED CHARGES

(Unaudited)

(In millions except ratios)

	Year
	2015		2014		2013		2012		2011
Fixed charges:
Interest expense*	$	169	$	191	$	171	$	207	$	247
Estimated interest portion of rents	38		40		32		32		31
Total fixed charges	$	207	$	231	$	203	$	239	$	278
Income:
Income from continuing operations before income taxes	$	971	$	853	$	674	$	841	$	337
Fixed charges	207		231		203		239		278
Adjusted income	$	1,178	$	1,084	$	877	$	1,080	$	615
Ratio of income to fixed charges	5.69		4.69		4.32		4.52		2.21

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