EX-12 8 ex12.txt EXHIBIT 12 Exhibit 12 HONEYWELL INTERNATIONAL INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Six Months Ended June 30, 2003 (Dollars in millions) Determination of Earnings: Income before taxes ..................................................... $ 820 Add (Deduct): Amortization of capitalized interest ................................. 12 Fixed charges ........................................................ 217 Equity income, net of distributions .................................. (4) ------ Total earnings, as defined ........................................ $1,045 ====== Fixed Charges: Rents(a) ................................................................ $ 46 Interest and other financial charges .................................... 171 ------ 217 Capitalized interest .................................................... 5 ------ Total fixed charges ............................................... $ 222 ====== Ratio of earnings to fixed charges ...................................... 4.71 ======
---------- (a) Denotes the equivalent of an appropriate portion of rentals representative of the interest factor on all rentals other than for capitalized leases.