2011 was another strong year for united technologies. Solid execution across our business units allowed us to again deliver double-digit earnings growth. our continued focus on improving productivity, investing in game-changing technologies and expanding our presence in fast-growing emerging markets has positioned us to continue to grow our base business in 2012 despite an uncertain global economic outlook. looking beyond 2012, the major acquisitions we announced in 2011, involving Goodrich and IAe International Aero engines, will transform our company, setting the foundation for strong earnings growth in 2013 and beyond. 2 unIteD teCHnoloGIeS CoRpoRAtIon louis r. ChÊnevert, Chairman & Chief exeCutive offiCer