EX-12 3 dex12.htm STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES. Statement re: computation of ratio of earnings to fixed charges.

Exhibit 12

 

UNITED TECHNOLOGIES CORPORATION

AND SUBSIDIARIES

 

STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

    

Six Months Ending

June 30,

  
In Millions    2004
     2003
  

Fixed Charges:

                 

Interest expense

    $ 178     $ 184  

Interest capitalized

      6       5  

One-third of rents*

      51       40  
    
 

Total Fixed Charges

    $ 235     $ 229  
    
 

Earnings:

                 

Income before income taxes and minority interests

    $ 2,035     $ 1,686  

Fixed charges per above

      235       229  

Less: interest capitalized

      (6 )     (5 )
    
 
       229       224  
    
 

Amortization of interest capitalized

      4       2  
    
 

Total Earnings

    $ 2,268     $ 1,912  
    
 

Ratio of Earnings to Fixed Charges

      9.65       8.35  
    
 
* Reasonable approximation of the interest factor.