EX-12.2 8 b38194txex12-2.txt COMPUTATION OF RATIO OF FIXED CHARGES TO DIVIDENDS 1 EXHIBIT 12.2 TEXTRON INC. INCLUDING ALL MAJORITY-OWNED SUBSIDIARIES COMPUTATION OF RATIO OF INCOME TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (UNAUDITED) (In millions except ratios)
Year ----------------------------------------------------------------------------------- 2000 1999 1998 1997 1996 ------------- -------------- ------------- ------------- ------------- Fixed charges: Interest expense (1) $ 492 $ 245 $ 301 $ 270 $ 284 Distributions on preferred securities of subsidiary trust, net of income taxes 26 26 26 26 23 Estimated interest portion of rents 31 27 21 14 19 ------------- -------------- ------------- ------------- ------------- Total fixed charges $ 549 $ 298 $ 348 $ 310 $ 326 ============= ============== ============= ============= ============= Income: Income from continuing operations before income taxes and distributions on preferred securities of subsidiary trust $ 611 $ 1,030 $ 763 $ 648 $ 540 Fixed charges (2) 523 272 322 284 303 ------------- -------------- ------------- ------------- ------------- Adjusted income $ 1,134 $ 1,302 $ 1085 $ 932 $ 843 ============= ============== ============= ============= ============= Ratio of income to fixed charges 2.07 4.37 3.12 3.01 2.59 ============= ============== ============= ============= =============
------------------------ (1) Includes interest unrelated to borrowings of $3 million in 1999, $16 million in 1998, $12 million in 1997 and $11 million in 1996. (2) Adjusted to exclude distributions on preferred securities of subsidiary trust, net of income taxes in 2000, 1999, 1998, 1997 and 1996.