18  | UNITED TECHNOLOGIES CORPORATION At A Glance Financials Businesses in Balance United Technologies Corporation  provides high-technology products and services to the building  systems and aerospace industries worldwide through our industry-leading businesses. In 2012, UTC net sales were $57.7 billion. Earnings per share from continuing operations were $5.35 per share, and all business units delivered  double-digit operating profit margins. Cash flow from operations less capital expenditures exceeded net income attributable to common shareowners. 1 Amounts presented for 2008 to 2011 have been restated to reflect results from continuing operations consistent with 2012 presentation. Refer to the financial section, which begins on page 25, for additional information. 2 Amounts include company- and customer-funded research and development. 3 The decrease in the 2009 debt to total capitalization ratio, as compared to 2008, reflects the impact of positive returns on our pension plans,  the beneficial impact of foreign exchange rate movement and the reduction of approximately $1.7 billion of total debt. The increase in the 2012 debt to total capitalization ratio reflects debt issuances to finance the Goodrich acquisition. net Sales 1 Dollars in billions 08 10 12 09 11 52.3 57.7 50.5 56.8 55.8 10 20 30 40 50 60 08 10 12 09 11 Diluted Earnings Per Common Share 1 Dollars per share 4.55 5.35 4.00 4.74 5.33 08 10 12 09 11 Cash Flow From Operations 1 Dollars in billions 5.6 6.6 5.1 5.9 6.5 0 1 2 3 4 5 6 1 2 08 10 12 09 11 Debt to Capital  3 Percent 32 46 32 41 31 08 10 12 09 11 Dividends Paid Per Common Share Dollars per share 1.70 2.03 1.54 1.35 1.87 08 10 12 09 11 Research and  Development  1, 2 Dollars in billions 3.1 4.0 3.2 3.3 3.4 UTC’s balanced portfolio of businesses spans geographies, markets and customer relationships. net Sales By Type as a Percent of Total net Sales Aftermarket Original  Equipment  Manufacturing 57% 43% Commercial & Industrial Military Aerospace & Space Commercial Aerospace 51% 28% 21% net Sales By Geography as a Percent of Total net Sales Europe Other United  States Asia  Pacific 40% 26% 20% 14%