EX-12 4 dex12.htm EXHIBIT 12 EXHIBIT 12

Exhibit 12

 

Lockheed Martin Corporation

Computation of Ratio of Earnings to Fixed Charges

For the Nine Months Ended September 30, 2003

(In millions, except ratio)

 

Earnings

         

Earnings from continuing operations before income taxes

    $ 1,027  

Interest expense

      376  

Losses (undistributed earnings) of 50% and less than 50% owned companies, net

      (40 )

Portion of rents representative of an interest factor

      23  

Amortization of debt premium and discount, net

      1  
    

Adjusted earnings from continuing operations before income taxes

    $ 1,387  
    

Fixed Charges

         

Interest expense

    $ 376  

Portion of rents representative of an interest factor

      23  

Amortization of debt premium and discount, net

      1  

Capitalized interest

      —    
    

Total fixed charges

    $ 400  
    

Ratio of Earnings to Fixed Charges

      3.5