EX-12.2 4 b77277exv12w2.htm EX-12.2 COMPUTATION OF RATIO OF INCOME TO FIXED CHARGES OF TEXTRON INC., INCLUDING ALL MAJORITY-OWNED SUBSIDIARIES exv12w2
EXHIBIT 12.2
TEXTRON INC. INCLUDING ALL MAJORITY-OWNED SUBSIDIARIES
COMPUTATION OF RATIO OF INCOME TO FIXED CHARGES
(Unaudited)
(In millions except ratios)
                                         
    Year  
    2009     2008     2007     2006     2005  
Fixed charges:
                                        
Interest expense*
   $ 309     $ 448     $ 507     $ 451     $ 313  
Estimated interest portion of rents
     33       35       28       28       28  
 
                              
 
                                        
Total fixed charges
   $ 342     $ 483     $ 535     $ 479     $ 341  
 
                              
 
                                        
Income:
                                        
Income (loss) from continuing operations before income taxes
   $ (149 )   $ 629     $ 1,234     $ 907     $ 656  
Fixed charges
     342       483       535       479       341  
 
                              
 
                                        
Adjusted income
   $ 193     $ 1,112     $ 1,769     $ 1,386     $ 997  
 
                              
 
                                        
Ratio of income to fixed charges
     0.56       2.30       3.31       2.89       2.92  
 
                              
 
*   Includes interest expense on all third-party indebtedness, except for interest related to unrecognized tax benefits which is included in income tax expense.
Earnings for the year ended January 2, 2010 were inadequate to cover fixed charges. Additional earnings of $149 million would have been necessary to bring the ratio of income to fixed charges to 1.0.