EX-12.2 9 b49049tiexv12w2.txt EX-12.2 COMPUTATION OF INCOME TO FIXED CHARGES 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 ---- 2003 2002 2001 2000 1999 ---- ---- ---- ---- ---- Fixed charges: Interest expense (1) $ 277 $ 324 $ 445 $ 492 $ 245 Distributions on preferred securities of subsidiary trust, net of income taxes 13 26 26 26 26 Estimated interest portion of rents 37 30 34 33 27 ------ ------ ------ ------ ------ Total fixed charges $ 327 $ 380 $ 505 $ 551 $ 298 ====== ====== ====== ====== ====== Income: Income from continuing operations before income taxes and distributions on preferred securities of subsidiary trust $ 401 $ 566 $ 784 $ 597 $ 954 Fixed charges (2) 314 354 479 525 272 ------ ------ ------ ------ ------ Adjusted income $ 715 $ 920 $1,263 $1,122 $1,226 ====== ====== ====== ====== ====== Ratio of income to fixed charges 2.19 2.42 2.50 2.04 4.11 ====== ====== ====== ====== ======
------------- (1) Includes interest unrelated to borrowings of $3 million in 1999. (2) Adjusted to exclude distributions on preferred securities of subsidiary trust, net of income taxes.