beatandraise : SEC Filings Research with AI

                                                                      EXHIBIT 12

                          LOCKHEED MARTIN CORPORATION
               COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                      FOR THE YEAR ENDED DECEMBER 31, 1995
                     (IN MILLIONS OF DOLLARS, EXCEPT RATIO)


EARNINGS:
Net earnings                                                $  682
Taxes on income                                                407
Interest expense                                               288
Amortization of debt premium and discount, net                  (1)
Portion of rents representative of an interest factor           53
Earnings of less than 50% owned associated companies            (4)
                                                            ------

Adjusted earnings before taxes and fixed charges            $1,425
                                                            ======

FIXED CHARGES:
Interest expense                                            $  288
Amortization of debt premium and discount, net                  (1)
Portion of rents representative of an interest factor           53
Capitalized interest                                             3
                                                            ------
Total fixed charges                                         $  343
                                                            ======
RATIO OF EARNINGS TO FIXED CHARGES                             4.2
                                                            ======

The above ratio computation reflects the impact of merger related and
consolidation expenses recorded during 1995.