Attached files
| file | filename |
|---|---|
| 10-K - FORM 10-K - TEXTRON FINANCIAL CORP | b84109e10vk.htm |
| EX-23 - EX-23 - TEXTRON FINANCIAL CORP | b84109exv23.htm |
| EX-24 - EX-24 - TEXTRON FINANCIAL CORP | b84109exv24.htm |
| EX-31.1 - EX-31.1 - TEXTRON FINANCIAL CORP | b84109exv31w1.htm |
| EX-32.1 - EX-32.1 - TEXTRON FINANCIAL CORP | b84109exv32w1.htm |
| EX-32.2 - EX-32.2 - TEXTRON FINANCIAL CORP | b84109exv32w2.htm |
| EX-31.2 - EX-31.2 - TEXTRON FINANCIAL CORP | b84109exv31w2.htm |
Exhibit 12
TEXTRON FINANCIAL CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| 2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||
| (Dollars in millions) | ||||||||||||||||||||
(Loss) income from continuing operations before income
taxes and noncontrolling interest |
$ | (341 | ) | $ | (305 | ) | $ | (539 | ) | $ | 222 | $ | 210 | |||||||
Fixed Charges: |
||||||||||||||||||||
Interest on debt |
118 | 159 | 307 | 397 | 351 | |||||||||||||||
Estimated interest portion of rents |
2 | 2 | 3 | 3 | 3 | |||||||||||||||
Total fixed charges |
120 | 161 | 310 | 400 | 354 | |||||||||||||||
Adjusted (loss) income |
$ | (221 | ) | $ | (144 | ) | $ | (229 | ) | $ | 622 | $ | 564 | |||||||
Ratio of earnings to fixed charges (1) |
(1.85 | )x | (0.89 | )x | (0.74 | )x | 1.56 | x | 1.59 | x | ||||||||||
(1)
|
The ratio of earnings to fixed charges has been computed by dividing (loss) income from continuing operations before income taxes and noncontrolling interest and fixed charges, by fixed charges. Fixed charges consist of interest on debt and one-third rental expense as representative of interest portion of rentals. Additional earnings of $341 million, $305 million and $539 million would have been necessary to bring the ratio of earnings to fixed charges to 1.0 in 2010, 2009 and 2008, respectively. |