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Content analysis
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7th grade Avg
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EXHIBIT 12.2
TEXTRON INC. INCLUDING ALL MAJORITY-OWNED SUBSIDIARIES
COMPUTATION OF RATIO OF INCOME TO FIXED CHARGES
(Unaudited)
(In millions except ratios)
|
| Year |
| |||||||||||||
|
| 2015 |
| 2014 |
| 2013 |
| 2012 |
| 2011 |
| |||||
Fixed charges: |
|
|
|
|
|
|
|
|
|
|
| |||||
Interest expense* |
| $ | 169 |
| $ | 191 |
| $ | 171 |
| $ | 207 |
| $ | 247 |
|
Estimated interest portion of rents |
| 38 |
| 40 |
| 32 |
| 32 |
| 31 |
| |||||
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|
|
|
|
|
|
|
|
|
|
| |||||
Total fixed charges |
| $ | 207 |
| $ | 231 |
| $ | 203 |
| $ | 239 |
| $ | 278 |
|
|
|
|
|
|
|
|
|
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|
|
| |||||
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| |||||
Income: |
|
|
|
|
|
|
|
|
|
|
| |||||
Income from continuing operations before income taxes |
| $ | 971 |
| $ | 853 |
| $ | 674 |
| $ | 841 |
| $ | 337 |
|
Fixed charges |
| 207 |
| 231 |
| 203 |
| 239 |
| 278 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
Adjusted income |
| $ | 1,178 |
| $ | 1,084 |
| $ | 877 |
| $ | 1,080 |
| $ | 615 |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Ratio of income to fixed charges |
| 5.69 |
| 4.69 |
| 4.32 |
| 4.52 |
| 2.21 |
|
* Includes interest expense on all third-party indebtedness, except for interest related to unrecognized tax benefits which is included in income tax expense.