EX-12.1 6 tweone.htm EXHIBIT 12

EXHIBIT 12.1

TEXTRON MANUFACTURING

COMPUTATION OF RATIO OF INCOME TO
COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

(unaudited)

 (In millions except ratio)

 

Three Months
Ended
March 29, 2003

  

Fixed charges:

      

     Interest expense

$

26

  

     Distributions on preferred securities of manufacturing subsidiary trust,
          net of income taxes

  


6

  

     Estimated interest portion of rents

  

7

  

          Total fixed charges

 

39

 
   

 

  
   

 

  

Income:

  

 

  

     Income before income taxes and distributions on preferred
          securities of subsidiary trusts


$


104

  

Eliminate equity in undistributed pre-tax income of Textron Finance

  

12

  

Fixed charges *

  

33

  

          Adjusted income

$

149

  
   

 

  


 

 

  

Ratio of income to fixed charges

  

3.82

  
   

 

  

 

* Adjusted to exclude distributions on preferred securities of manufacturing subsidiary trust, net of income taxes.