EX-12 2 dex12.htm STATEMENT RE COMPUTATION OF RATIO OF EARNINGS Statement re Computation of Ratio of Earnings

Exhibit 12

 

RAYTHEON COMPANY

STATEMENT REGARDING COMPUTATION OF

RATIO OF EARNINGS TO COMBINED FIXED CHARGES

(dollar amounts in millions except for ratio)

(excludes RE&C and AIS for all periods

except for Interest costs, which includes RE&C and AIS)

 

     2000 (1)
    2001 (1)
    2002
    2003
    2004

Income from continuing operations before taxes per statements of income

              1,076    762    579

Add:

                         

Fixed charges

              658    611    497

Amortization of capitalized interest

              2    2    1

Less:

                         

Capitalized interest

              0    0    0
              
  
  

Income as adjusted

              1,736    1,375    1,077
              
  
  

Fixed charges:

                         

Portion of rents representative of interest factor

              82    74    79

Interest costs

              576    537    418

Capitalized interest

              0    0    0
              
  
  

Fixed charges

              658    611    497
              
  
  

Equity security distributions

              15    15    5
              
  
  

Combined fixed charges

              673    627    502
              
  
  

Ratio of earnings to combined fixed charges

              2.6    2.2    2.1
              
  
  
(1) The Company is omitting the financial data for 2001 and 2000 previously included in Exhibit 12 for the reasons discussed in the Explanatory Note and in Item 6 (Selected Financial Data.)