Exhibit 12

TEXTRON FINANCIAL CORPORATION
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.

TEXTRON FINANCIAL CORP 10-K