EX-12 11 ex12tk2002.htm EXHIBIT 12 EXHIBIT 12

EXHIBIT 12

 UNITED TECHNOLOGIES CORPORATION AND SUBSIDIARIES
Statement Re: Computation of Ratios

(Millions of Dollars)

2002 2001 2000 1999 1998
Fixed Charges:
    Interest expense $ 381   $ 426   $ 382   $ 260   $ 197  
    Interest capitalized 16   22     18   15   12  
    One-third rents* 71         68         65          65         77  
$ 468   $ 516   $ 465   $ 340   $ 286  
Earnings:
    Income from continuing operations
      before minority interests		 $ 3,276   $   2,807   $   2,758   $   1,257   $ 1,810  
    Fixed charges per above 468   516  

    465  

   340   

   286  
    Less:  interest capitalized (16)         (22) 

     (18)  

    (15)  

     (12)  
452       494  

    447   

    325         274  
    Amortization of interest capitalized 4         18  

      21   

     25   

      31  

    Total Earnings $ 3,732   $ 3,319   $ 3,226    $ 1,607    $ 2,115  
Ratio of Earnings to Fixed Charges 7.97  

6.43  

6.94    4.73    7.40  

 

* Reasonable approximation of the interest factor.