Free Cash Flow to Equity (FCFE)
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United Technologies Corp., FCFE calculation
USD $ in millions
| 12 months ended | Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | |
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Net income attributable to common shareowners | |
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Add: Noncontrolling interest in subsidiaries’ earnings | |
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Add: Net noncash charges | |
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Less: Change in operating capital | |
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Net cash flows provided by operating activities | |
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Less: Capital expenditures | |
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Add: Increase (decrease) in short-term borrowings, net | |
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Add: Issuance of long-term debt | |
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Less: Repayment of long-term debt | |
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Free cash flow to equity (FCFE) | |
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| Item | Description | The company |
|---|---|---|
| FCFE | Free cash flow to equity is the cash flow available to United Technologies Corp.'s equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. | United Technologies Corp.'s FCFE increased from 2009 to 2010 and from 2010 to 2011. |