Exhibit 12

LOCKHEED MARTIN CORPORATION

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

FOR THE YEAR ENDED DECEMBER 31, 2005

(In millions, except ratio)

EARNINGS
Earnings before income taxes	$	2,616
Interest expense		370
Losses (undistributed earnings) of 50% and less than 50% owned companies, net		(9	)
Portion of rents representative of an interest factor		52
Amortization of debt premium and discount, net		(5	)
Adjusting earnings before income taxes	$	3,024
FIXED CHARGES
Interest expense	$	370
Portion of rents representative of an interest factor		52
Amortization of debt premium and discount, net		(5	)
Capitalized interest		—
Total fixed charges	$	417
RATIO OF EARNINGS TO FIXED CHARGES		7.3