EXHIBIT 12.1

TEXTRON MANUFACTURING

COMPUTATION OF RATIO OF INCOME TO
COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

(unaudited)

(In millions except ratio)

	Three Months Ended March 30, 2002
Fixed charges:
Interest expense	$	34
Distributions on preferred securities of manufacturing subsidiary trust,           net of income taxes		6
Estimated interest portion of rents		8
Total fixed charges		48
Income:
Income before income taxes and distributions on preferred           securities of subsidiary trusts	$	92
Eliminate equity in undistributed pre-tax income of Textron Finance		33
Fixed charges *		42
Adjusted income	$	167
Ratio of income to fixed charges		3.48

*Adjusted to exclude distributions on preferred securities of manufacturing subsidiary trust, net of income taxes.