EX-12 4 dex12.htm EXHIBIT 12 EXHIBIT 12

 

 

Exhibit 12

 

Lockheed Martin Corporation

Computation of Ratio of Earnings to Fixed Charges

For the Three Months Ended March 31, 2003

(In millions, except ratio)

 

 

Earnings

           

Earnings from continuing operations before income taxes

     

$

365

 

Interest expense

     

 

140

 

Losses (undistributed earnings) of 50% and less than 50% owned companies, net

     

 

(21

)

Portion of rents representative of an interest factor

     

 

11

 

Amortization of debt premium and discount, net

     

 

—  

 

      

Adjusted earnings from continuing operations before income taxes

     

$

495

 

      

Fixed Charges

           

Interest expense

     

$

140

 

Portion of rents representative of an interest factor

     

 

11

 

Amortization of debt premium and discount, net

     

 

—  

 

Capitalized interest

     

 

—  

 

      

Total fixed charges

     

$

151

 

      

Ratio of Earnings to Fixed Charges

     

 

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