EX-12.2 6 a08-2392_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

 

 

 

2007

 

2006

 

2005

 

2004

 

2003

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

506

 

$

452

 

$

314

 

$

253

 

$

273

 

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

 

—

 

—

 

—

 

—

 

13

 

Estimated interest portion of rents

 

30

 

30

 

30

 

30

 

29

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges

 

$

536

 

$

482

 

$

344

 

$

283

 

$

315

 

 

 

 

 

 

 

 

 

 

 

 

 

Income:

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before incometaxes and distributions on preferredsecurities of subsidiary trusts

 

$

1,300

 

$

975

 

$

739

 

$

540

 

$

424

 

Fixed charges*

 

536

 

482

 

344

 

283

 

302

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted income

 

$

1,836

 

$

1,457

 

$

1,083

 

$

823

 

$

726

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of income to fixed charges

 

3.43

 

3.02

 

3.15

 

2.91

 

2.30

 

 

*                 Includes interest expense on all third-party indebtedness, except for interest related to unrecognized tax benefits which is included in income tax expense.

 

**          Adjusted to exclude distributions on preferred securities of subsidiary trusts, net of income taxes, in 2003.