United Technologies Corporation and Subsidiaries

Statement Re: Computation of Ratios

Exhibit 12

In Millions of Dollars	Full year
	2006			2005			2004			2003			2002
Fixed Charges:
Interest Expense	$	606		$	498		$	363		$	375		$	381
Interest Capitalized		19			16			11			10			16
One-third of rents*		96			100			107			87			71
Total Fixed Charges	$	721		$	614		$	481		$	472		$	468
Earnings:
Income before income taxes and minority interests	$	5,492		$	4,684		$	3,938		$	3,272		$	3,090
Fixed Charges per above		721			614			481			472			468
Less: interest capitalized		(19	)		(16	)		(11	)		(10	)		(16	)
		702			598			470			462			452
Amortization of interest capitalized		8			10			3			4			4
Total Earnings	$	6,202		$	5,292		$	4,411		$	3,738		$	3,546
Ratio of Earnings to Fixed Charges		8.60			8.62			9.17			7.92			7.58

* Reasonable approximation of the interest factor