Textron (TXT) 10-Q2016 Q2 Quarterly report

Filed: 28 Jul 16, 12:00am

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New words: Civil, Department, discontinued, Division, DOT, essentially, exclusive, FAA, final, GA, insurance, life, matter, McCauley, Notice, part, penalty, Propeller, Proposed, reached, resin, reversal, shipment, trade, Transportation, turboprop

Removed: amended, authorizing, deferred, equity, expiration, growth, incentive, registered

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EXHIBIT 12.1

TEXTRON INC.

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

	Six Months Ended July 2, 2016
Fixed charges:
Interest expense*	$	70
Estimated interest portion of rents	19
Total fixed charges	$	89


Income:
Income from continuing operations before income taxes	$	475
Fixed charges	89
Dividends received from Finance group	29
Eliminate pretax income of Finance group	(12)
Adjusted income	$	581

Ratio of income to fixed charges	6.53

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

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