EX-12 2 d430100dex12.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)

    2012     2011  

Fixed Charges:

     

Interest expense1 

    $ 614     $ 496  

Interest capitalized

      15       15  

One-third of rents2 

      117       111  
  

 

 

    

 

 

  

Total fixed charges

    $ 746     $ 622  
  

 

 

    

 

 

  

Earnings:

     

Income from continuing operations before income taxes

    $ 5,420     $ 5,572  
  

 

 

    

 

 

  

Fixed charges per above

      746       622  

Less: capitalized interest

      (15 )      (15 ) 
  

 

 

    

 

 

  
     731       607  
  

 

 

    

 

 

  

Amortization of interest capitalized

      10       13  
  

 

 

    

 

 

  

Total earnings

    $ 6,161     $ 6,192  
  

 

 

    

 

 

  

Ratio of earnings to fixed charges

      8.26       9.95  
  

 

 

    

 

 

  

 

1 

Pursuant to the guidance in the Income Taxes Topic of the FASB ASC, interest related to unrecognized tax benefits recorded was approximately $31 million and $14 million for the nine months ended September 30, 2012 and 2011, respectively. The ratio of earnings to fixed charges would have been 8.62 and 10.18 for the nine months ended September 30, 2012 and 2011, respectively, if such interest were excluded from the calculation.

2 

Reasonable approximation of the interest factor.

 

67