EX-12 3 ex12.txt EXHIBIT 12 Exhibit 12 HONEYWELL INTERNATIONAL INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Three Months Ended March 31, 2003 (Dollars in millions) Determination of Earnings: Income before taxes ..................................................... $ 373 Add (Deduct): Amortization of capitalized interest ................................. 6 Fixed charges ........................................................ 107 Equity income, net of distributions .................................. 2 ----- Total earnings, as defined ........................................ $ 488 ===== Fixed Charges: Rents(a) ................................................................ $ 23 Interest and other financial charges .................................... 84 ----- 107 Capitalized interest .................................................... 3 ----- Total fixed charges ............................................... $ 110 ----- Ratio of earnings to fixed charges ...................................... 4.44 =====
---------- (a) Denotes the equivalent of an appropriate portion of rentals representative of the interest factor on all rentals other than for capitalized leases.