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EXHIBIT 12
HONEYWELL INTERNATIONAL INC.
STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
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2001 2000 1999 1998 1997
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(IN MILLIONS)
DETERMINATION OF EARNINGS:
Income (loss) before taxes............................. (422) 2,398 2,248 2,772 2,419
Add (Deduct):
Amortization of capitalized interest............... 25 25 25 25 24
Fixed charges...................................... 512 583 362 362 360
Equity income, net of distributions................ 199 132 (46) (44) (58)
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Total earnings, as defined..................... 314 3,138 2,589 3,115 2,745
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FIXED CHARGES:
Rents(a)............................................... 107 102 97 87 83
Interest and other financial charges................... 405 481 265 275 277
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512 583 362 362 360
Capitalized interest................................... 17 16 22 25 21
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Total fixed charges............................ 529 599 384 387 381
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Ratio of earnings to fixed charges..................... 0.59 5.24 6.74 8.05 7.20
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(a) Denotes the equivalent of an appropriate portion of rentals representative
of the interest factor on all rentals other than for capitalized leases.