EX-12 3 d341234dex12.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,		  

(Dollars in millions)

   2012     2011  

Fixed Charges:

    

Interest expense1 

    $ 164     $ 165  

Interest capitalized

     5       5  

One-third of rents2 

      38       39  
  

 

 

    

 

 

  

Total fixed charges

   $ 207     $ 209  
  

 

 

    

 

 

  

Earnings:

    

Income from continuing operations before income taxes

   $ 1,573     $ 1,540  
  

 

 

    

 

 

  

Fixed charges per above

     207       209  

Less: capitalized interest

     (5 )      (5 ) 
  

 

 

    

 

 

  
     202       204  
  

 

 

    

 

 

  

Amortization of interest capitalized

     3       4  
  

 

 

    

 

 

  

Total earnings

   $ 1,778     $ 1,748  
  

 

 

    

 

 

  

Ratio of earnings to fixed charges

     8.59       8.36  
  

 

 

    

 

 

  

 

1 

Pursuant to the guidance in the Income Taxes Topic of the FASB ASC, interest related to unrecognized tax benefits recorded was approximately $8 million and $4 million for the three months ended March 31, 2012 and 2011, respectively. The ratio of earnings to fixed charges would have been 8.93 and 8.53 for the three months ended March 31, 2012 and 2011, respectively, if such interest were excluded from the calculation.

2 

Reasonable approximation of the interest factor.