EX-12 2 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

 

      Three Months
Ended March 31,		  

(in millions of dollars)

    2009     2008  

Fixed Charges:

     

Interest expense1 

    $ 175     $ 165  

Interest capitalized

      5       5  

One-third of rents2 

      33       33  
                

Total fixed charges

    $ 213     $ 203  
                

Earnings:

     

Income before income taxes

    $ 1,075     $ 1,509  

Fixed charges per above

      213       203  

Less: capitalized interest

      (5 )     (5 )
                
     208       198  
                

Amortization of interest capitalized

      2       2  
                

Total earnings

    $ 1,285     $ 1,709  
                

Ratio of earnings to fixed charges

      6.03       8.42  
                

 

1

Interest related to unrecognized tax benefits recorded under Financial Accounting Standards Board Interpretation No. 48, “Accounting for Uncertainty in Income Taxes” was approximately $6 million and $12 million for the three months ended March 31, 2009 and 2008, respectively. The ratio of earnings to fixed charges would have been 6.21 and 8.95 for the three months ended March 31, 2009 and 2008, respectively, if such interest were excluded from the calculation.

2

Reasonable approximation of the interest factor.