EX-12.(A) 14 noc-12312017xex12a.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit


NORTHROP GRUMMAN CORPORATION
 
EXHIBIT 12(a)
NORTHROP GRUMMAN CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

$ in millions
Year Ended December 31
Earnings:
2017
2016
2015
2014
2013
Earnings before income taxes
$
3,049

$
2,923

$
2,790

$
2,937

$
2,863

Fixed Charges:
 
 
 
 
 
Interest expense, including amortization of debt premium
360

301

301

282

257

Portion of rental expenses on operating leases deemed to be representative of the interest factor
100

99

101

101

99

Earnings before income taxes and fixed charges
$
3,509

$
3,323

$
3,192

$
3,320

$
3,219

Fixed Charges:
$
460

$
400

$
402

$
383

$
356

Ratio of earnings to fixed charges
7.6

8.3

7.9

8.7

9.0