Exhibit 12

Lockheed Martin Corporation

Computation of Ratio of Earnings to Fixed Charges

For the Nine Months Ended September 30, 2005

(In millions, except ratio)

Earnings
Earnings before income taxes	$	1,823
Interest expense		277
Losses (undistributed earnings) of 50% and less than 50% owned companies, net		(19	)
Portion of rents representative of an interest factor		37
Amortization of debt premium and discount, net		(3	)
Adjusted earnings before income taxes	$	2,115
Fixed Charges
Interest expense	$	277
Portion of rents representative of an interest factor		37
Amortization of debt premium and discount, net		(3	)
Capitalized interest		—
Total fixed charges	$	311
Ratio of Earnings to Fixed Charges		6.8