EX-12.1 3 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)

 

Nine Months
Ended
September 28,
2002

  

Fixed charges:

      

     Interest expense

$

106

  

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

  


19

  

     Estimated interest portion of rents

  

24

  


          Total fixed charges


$


149

  
       
       

Income:

      

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


$


363

  

     Eliminate equity in undistributed pre-tax income of Textron Finance

  

(19)

  

     Fixed charges *

  

130

  


          Adjusted income


$


474

  
   

 

  


 

 

  

Ratio of income to fixed charges

  

3.18

  
   

 

  

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