Exhibit 11

UNITED TECHNOLOGIES CORPORATION

AND SUBSIDIARIES

STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS

	Full year
(in millions of dollars, except per share amounts)	2008		2007		2006		2005		2004
Net income	$	4,689	$	4,224	$	3,732	$	3,069	$	2,673
Basic earnings for period	$	4,689	$	4,224	$	3,732	$	3,069	$	2,673
Diluted earnings for period	$	4,689	$	4,224	$	3,732	$	3,069	$	2,673
Basic average number of shares outstanding during the period (thousands)		937,800		963,900		980,000		991,200		992,800
Stock awards (thousands)		18,600		24,900		25,700		23,300		18,000
Diluted average number of shares outstanding during the period (thousands)		956,400		988,800		1,005,700		1,014,500		1,010,800
Basic earnings per common share	$	5.00	$	4.38	$	3.81	$	3.10	$	2.69
Diluted earnings per common share	$	4.90	$	4.27	$	3.71	$	3.03	$	2.64