Exhibit 12
LOCKHEED MARTIN CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
FOR THE YEAR ENDED DECEMBER 31, 2006
(In millions, except ratio)
| EARNINGS |
||||
| Earnings before income taxes |
$ | 3,592 | ||
| Interest expense |
361 | |||
| Losses (undistributed earnings) of 50% and less than 50% owned companies, net |
(20 | ) | ||
| Portion of rents representative of an interest factor |
56 | |||
| Amortization of debt premium and discount, net |
(5 | ) | ||
| Adjusting earnings before income taxes |
$ | 3,984 | ||
| FIXED CHARGES |
||||
| Interest expense |
$ | 361 | ||
| Portion of rents representative of an interest factor |
56 | |||
| Amortization of debt premium and discount, net |
(5 | ) | ||
| Capitalized interest |
— | |||
| Total fixed charges |
$ | 412 | ||
| RATIO OF EARNINGS TO FIXED CHARGES |
9.7 | |||