EXHIBIT 12

 UNITED TECHNOLOGIES CORPORATION AND SUBSIDIARIES
Statement Re: Computation of Ratios

(Millions of Dollars)

		2001		2000		1999		1998		1997
Fixed Charges:
Interest expense	$	426	$	382	$	260	$	197	$	188
Interest capitalized		22		18		15		12		10
One-third rents*		68		65		65		77		80
	$	516	$	465	$	340	$	286	$	278
		====		=====		=====		=====		=====
Earnings:
Income from continuing operations       before minority interests	$	2,807	$	2,758	$	1,257	$	1,810	$	1,574
Fixed charges per above		516		465		340		286		278
Less:  interest capitalized		(22)		(18)		(15)		(12)		(10)
		494		447		325		274		268
Amortization of interest capitalized		18		21		25		31		34
Total Earnings	$	3,319	$	3,226	$	1,607	$	2,115	$	1,876
		=====		=====		=====		=====		=====
Ratio of Earnings to Fixed Charges		6.43		6.94		4.73		7.40		6.75
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* Reasonable approximation of the interest factor.