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Previous: TEXTRON INC, 10-Q, 1999-08-12 |
Next: TEXTRON INC, 10-Q, 1999-08-12 |
EXHIBIT 12.1
TEXTRON MANUFACTURING
COMPUTATION OF RATIO OF INCOME TO
COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(unaudited)
(In millions except ratio)
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Six Months |
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Fixed charges: |
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Interest expense |
$16 |
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Distributions on preferred securities of subsidiary trust, net of income taxes |
13 |
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Estimated interest portion of rents |
13 |
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Total fixed charges |
$42 |
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Income: |
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Income before income taxes and distributions on preferred securities of subsidiary trust |
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Eliminate equity in undistributed pretax income of Finance Group |
(37) |
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Fixed charges * |
29 |
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Adjusted income |
$500 |
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Ratio of income to fixed charges |
11.91 |
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* Adjusted to exclude distributions on preferred securities of subsidiary trust, net of income taxes
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