Exhibit 12

Lockheed Martin Corporation

Computation of Ratio of Earnings to Fixed Charges

(in millions, except ratios)

	Years ended December 31,
	2012		2011		2010		2009		2008
Earnings
Earnings from continuing operations before income taxes	$	4,072	$	3,631	$	3,778	$	4,182	$	4,564
Interest expense		383		354		345		308		332
Undistributed earnings from equity investees, net		20		(104)		(81)		(60)		(43)
Portion of rents representative of the interest factor		48		59		48		53		48
Earnings from continuing operations before income taxes, as adjusted	$	4,523	$	3,940	$	4,090	$	4,483	$	4,901
Fixed Charges
Interest expense	$	383	$	354	$	345	$	308	$	332
Portion of rents representative of the interest factor		48		59		48		53		48
Total fixed charges	$	431	$	413	$	393	$	361	$	380
Ratio of Earnings to Fixed Charges		10.5		9.5		10.4		12.4		12.9