EX-12.2 6 a05-3904_1ex12d2.htm EX-12.2

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

 

 

 

2004

 

2003

 

2002

 

2001

 

2000

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

256

 

$

277

 

$

324

 

$

445

 

$

492

 

Distributions on preferred securities of subsidiary trusts, net of income taxes

 

—

 

13

 

26

 

26

 

26

 

Estimated interest portion of rents

 

34

 

35

 

28

 

32

 

31

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges

 

$

290

 

$

325

 

$

378

 

$

503

 

$

549

 

 

 

 

 

 

 

 

 

 

 

 

 

Income:

 

 

 

 

 

 

 

 

 

 

 

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

 

$

528

 

$

417

 

$

576

 

$

800

 

$

589

 

Fixed charges*

 

290

 

312

 

352

 

477

 

523

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted income

 

$

818

 

$

729

 

$

928

 

$

1,277

 

$

1,112

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of income to fixed charges

 

2.82

 

2.24

 

2.46

 

2.54

 

2.03

 

 

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