EX-12 4 dex12.txt EXHIBIT 12 Exhibit 12 LOCKHEED MARTIN CORPORATION COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES FOR THE YEAR ENDED DECEMBER 31, 2001 (In millions, except ratio)
DECEMBER 2001 ------------ EARNINGS: Earnings from continuing operations before income taxes $ 188 Interest expense 700 Amortization of debt premium and discount, net 2 Portion of rents representative of an interest factor 46 Losses (undistributed earnings) of 50% and less than 50% owned companies, net 85 --------- Adjusted earnings from continuing operations before income taxes $ 1,021 ========= FIXED CHARGES: Interest expense $ 700 Capitalized interest - Amortization of debt premium and discount, net 2 Portion of rents representative of an interest factor 46 --------- Total fixed charges $ 748 ========= RATIO OF EARNINGS TO FIXED CHARGES 1.4 =========