EX-12 2 d386585dex12.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
Ended June  30,		  

(Dollars in millions)

   2012     2011  

Fixed Charges:

    

Interest expense1 

    $ 354     $ 330  

Interest capitalized

     10       11  

One-third of rents2 

      75       75  
  

 

 

    

 

 

  

Total fixed charges

   $ 439     $ 416  
  

 

 

    

 

 

  

Earnings:

    

Income from continuing operations before income taxes

   $ 3,595     $ 3,560  
  

 

 

    

 

 

  

Fixed charges per above

     439       416  

Less: capitalized interest

     (10 )      (11 ) 
  

 

 

    

 

 

  
     429       405  
  

 

 

    

 

 

  

Amortization of interest capitalized

     6       8  
  

 

 

    

 

 

  

Total earnings

   $ 4,030     $ 3,973  
  

 

 

    

 

 

  

Ratio of earnings to fixed charges

     9.18       9.55  
  

 

 

    

 

 

  

 

1 

Pursuant to the guidance in the Income Taxes Topic of the FASB ASC, interest related to unrecognized tax benefits recorded was approximately $17 million and $10 million for the six months ended June 30, 2012 and 2011, respectively. The ratio of earnings to fixed charges would have been 9.55 and 9.79 for the six months ended June 30, 2012 and 2011, respectively, if such interest were excluded from the calculation.

2 

Reasonable approximation of the interest factor.