EX-12 2 d245197dex12.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

 

      Nine Months Ended September 30,  

(Dollars in millions)

   2011     2010  

Fixed Charges:

    

Interest expense1 

    $ 497     $ 560  

Interest capitalized

     15       13  

One-third of rents2 

      111       111  
  

 

 

    

 

 

  

Total fixed charges

   $ 623     $ 684  
  

 

 

    

 

 

  

Earnings:

    

Income before income taxes

   $ 5,773     $ 4,852  
  

 

 

    

 

 

  

Fixed charges per above

     623       684  

Less: capitalized interest

     (15 )      (13 ) 
  

 

 

    

 

 

  
     608       671  
  

 

 

    

 

 

  

Amortization of interest capitalized

     13       13  
  

 

 

    

 

 

  

Total earnings

   $ 6,394     $ 5,536  
  

 

 

    

 

 

  

Ratio of earnings to fixed charges

     10.26       8.09  
  

 

 

    

 

 

  

 

1 

Pursuant to the guidance in the Income Taxes Topic of the FASB ASC, interest related to unrecognized tax benefits recorded was approximately $14 million and $20 million for the nine months ended September 30, 2011 and 2010, respectively. The ratio of earnings to fixed charges would have been 10.50 and 8.34 for the nine months ended September 30, 2011 and 2010, respectively, if such interest were excluded from the calculation.

2 

Reasonable approximation of the interest factor.

 

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