Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - RAYTHEON TECHNOLOGIES CORP | a2015-03x3110xq.htm |
| EX-15 - LETTER RE: UNAUDITED INTERIM FINANCIAL INFORMATION - RAYTHEON TECHNOLOGIES CORP | a2015-03x3110xqexhibit15.htm |
| EXCEL - IDEA: XBRL DOCUMENT - RAYTHEON TECHNOLOGIES CORP | Financial_Report.xls |
| EX-31.3 - RULE 13A-14(A)/15D-14(A) CERTIFICATION - RAYTHEON TECHNOLOGIES CORP | a2015-03x3110xqexhibit313.htm |
| EX-31.1 - RULE 13A-14(A)/15D-14(A) CERTIFICATION - RAYTHEON TECHNOLOGIES CORP | a2015-03x3110xqexhibit311.htm |
| EX-32 - SECTION 1350 CERTIFICATIONS - RAYTHEON TECHNOLOGIES CORP | a2015-03x3110xqexhibit32.htm |
| EX-31.2 - RULE 13A-14(A)/15D-14(A) CERTIFICATION - RAYTHEON TECHNOLOGIES CORP | a2015-03x3110xqexhibit312.htm |
Exhibit 12
UNITED TECHNOLOGIES CORPORATION
AND SUBSIDIARIES
STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Quarter Ended March 31, | ||||||||
(Dollars in millions) | 2015 | 2014 | ||||||
Fixed Charges: | ||||||||
Interest expense 1 | $ | 240 | $ | 243 | ||||
Interest capitalized | 8 | 6 | ||||||
One-third of rents 2 | 35 | 38 | ||||||
Total fixed charges | $ | 283 | $ | 287 | ||||
Earnings: | ||||||||
Income before income taxes | $ | 2,056 | $ | 1,873 | ||||
Fixed charges per above | 283 | 287 | ||||||
Less: capitalized interest | (8 | ) | (6 | ) | ||||
275 | 281 | |||||||
Amortization of interest capitalized | 3 | 3 | ||||||
Total earnings | $ | 2,334 | $ | 2,157 | ||||
Ratio of earnings to fixed charges | 8.25 | 7.52 | ||||||
1 | Pursuant to the guidance in the Income Taxes Topic of the Financial Accounting Standards Board Accounting Standards Codification, interest related to unrecognized tax benefits recorded was approximately $11 million for each of the quarters ended March 31, 2015 and 2014. The ratio of earnings to fixed charges would have been 8.58 and 7.82 for the quarters ended March 31, 2015 and 2014, respectively, if such interest were excluded from the calculation. |
2 | Reasonable approximation of the interest factor. |