EX-12.A 6 v55417exv12wa.htm EX-12.A exv12wa
Exhibit 12(a)
 
NORTHROP GRUMMAN CORPORATION
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
 
                                                                   
          Three Months
          Ended
      Year Ended December 31   March 31
$ in millions     2009     2008     2007     2006   2005   2010     2009(1)
Earnings:
                                                                 
Earnings (loss) from continuing operations before income taxes
    $ 2,266       $ (520 )       2,606       $ 2,226     $ 2,001     $ 692       $ 554  
                                                                   
Fixed Charges:
                                                                 
Interest expense, including amortization of debt premium
      281         295         336         346       388       80         73  
Portion of rental expenses on operating leases deemed to be representative of the interest factor
      183         190         189         174       169       43         47  
                                                                   
Earnings (loss) from continuing operations before income taxes and fixed charges
      2,730         (35 )       3,131         2,746       2,558       815         674  
Fixed Charges:
      464         485         525         520       557       123         120  
                                                                   
Ratio of earnings to fixed charges(2)
      5.9         –         6.0         5.3       4.6       6.6         5.6  
                                                                   
 
 
(1) Certain prior-period information has been reclassified to conform to the current year’s presentation.
(2) For the year ended December 31, 2008, the company’s earnings were insufficient to cover fixed charges by $520 million. This loss was entirely due to the non-cash goodwill impairment charge of $3.1 billion recorded during the fourth quarter at the Aerospace and Shipbuilding Systems segments.