Definitive Additional Materials

SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a) of the

Securities Exchange Act of 1934

[Amendment No.                          ]

 

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¨ Preliminary Proxy Statement

 

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¨ Definitive Proxy Statement

 

x Definitive Additional Materials

 

¨ Soliciting Material under §240.14a-12

 

 

United Technologies Corporation

(Name of Registrant as Specified in Its Charter)

 

 

(Name of Person(s) Filing Proxy Statement if other than the Registrant)

 

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Explanatory Note

United Technologies Corporation is filing the attached charts pursuant to Rule 14a-6 under the Securities Exchange Act of 1934. These charts may be provided to individual shareowners in discussions held in anticipation of the 2007 Annual Meeting of Shareowners of United Technologies Corporation.

0.00
1.00
2.00
3.00
4.00
5.00
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
Consensus
0
16
32
48
64
80
UTC
EPS vs
share price growth
($ EPS)
1 EPS before cumulative effect of FIN 47 accounting change that resulted in a non-cash after-tax cumulative impact of $95
million or $0.09 per share, recorded in fourth quarter 2005 results
1
EPS CAGR 15%
EPS CAGR 16%
EPS CAGR 18%
($ share price)
1

REVENUE GROWTH
2000-2006
-2%
0%
2%
4%
6%
8%
10%
12%
UTX
COL
ASD
ITW
GE
TYC
DOV
MMM
EMR
HON
BA
TXT
Average = 5.6%
(CAGR, %)
Peer companies adjusted for discontinued operations
2

EARNINGS PER SHARE GROWTH
2000-2006
(4)
(2)
0
2
4
6
8
10
12
14
16
UTX
COL
MMM
ITW
ASD
TXT
GE
BA
EMR
DOV
HON
TYC
(CAGR, %)
Average = 7.2%
Peer companies adjusted for discontinued operations, accounting changes, and significant one time items
3

IS UTC A CYCLICAL?
(40)
(20)
0
20
40
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
(annual EPS, % change)
UTX (16% CAGR)
Cyclicals
(7% CAGR)
1
1  Morgan Stanley Cyclical Index
2  UTX
EPS
before
cumulative
effect
of
FIN
47
accounting
change
that
resulted
in
a
non-cash
after-tax
cumulative
impact
of
$95
million or $0.09 per share, recorded in fourth quarter 2005 results
2
2
77%
(46)%
4

IS UTC A CONSUMER STAPLE?
0
10
20
30
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
(annual EPS, % change)
UTX (16% CAGR)
Consumer staples (8% CAGR)
1
1  S&P Consumer Staples Index
2  UTX
EPS
before
cumulative
effect
of
FIN
47
accounting
change
that
resulted
in
a
non-cash
after-tax
cumulative
impact
of
$95
million or $0.09 per share, recorded in fourth quarter 2005 results
2
2
5

0
200
400
600
800
1000
1200
1400
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
UTX
S&P 500
Peers
PERFORMANCE
Cumulative shareholder return
(%)
6