EX-12 4 tweone.htm EXHIBIT 12

EXHIBIT 12.1

TEXTRON MANUFACTURING

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

(unaudited)

(In millions except ratio)

 

Six Months
Ended
June 29,
2002

  

Fixed charges:

      

     Interest expense

$

69

  

     Distributions on preferred securities of manufacturing subsidiary trust, net
          of income taxes

  


13

  

     Estimated interest portion of rents

  

16

  


          Total fixed charges


$


98

  
   

 

  
   

 

  

Income:

  

 

  

     Income before income taxes and distributions on preferred
          securities of subsidiary trusts


$


267

  

     Eliminate equity in undistributed pre-tax income of Textron Finance

  

1

  

     Fixed charges *

  

85

  


          Adjusted income


$


353

  
   

 

  


 

 

  

Ratio of income to fixed charges

  

3.6

  
   

 

  

 

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