Exhibit 12

Lockheed Martin Corporation

Computation of Ratio of Earnings to Fixed Charges

For the Nine Months Ended September 30, 2006

(In millions, except ratio)

Earnings
Earnings before income taxes	$	2,543
Interest expense		276
Losses (undistributed earnings) of 50% and less than 50% owned companies, net		(10	)
Portion of rents representative of an interest factor		44
Amortization of debt premium and discount, net		(3	)
Adjusted earnings from continuing operations before income taxes	$	2,850
Fixed Charges
Interest expense	$	276
Portion of rents representative of an interest factor		44
Amortization of debt premium and discount, net		(3	)
Capitalized interest		—
Total fixed charges	$	317
Ratio of Earnings to Fixed Charges		9.0