Exhibit 12

RAYTHEON COMPANY

Statement Regarding Computation of

Ratio of Earnings to Combined Fixed Charges

(dollar amounts in millions except for ratio)

(excludes discontinued operations for all periods)

	2004		2005		2006		2007		2008
Income from continuing operations before taxes per statements of income	$	533	$	1,366	$	1,791	$	2,225	$	2,498
Add:
Fixed charges		490		392		365		294		232
Amortization of capitalized interest		1		1		2		3		4
Less:
Capitalized interest		1		5		5		6		8
Income as adjusted	$	1,023	$	1,754	$	2,153	$	2,516	$	2,726
Fixed charges:
Portion of rents representative of interest factor	$	77	$	82	$	88	$	92	$	95
Interest on indebtedness		412		305		272		196		129
Capitalized interest		1		5		5		6		8
Fixed charges		490		392		365		294		232
Equity security unit distributions		5		—		—		—		—
Combined fixed charges and preferred stock dividends	$	495	$	392	$	365	$	294	$	232
Ratio of earnings to combined fixed charges and preferred stock dividends		2.1		4.5		5.9		8.6		11.8