EX-12 7 dex12.htm EXHIBIT 12 Exhibit 12

Exhibit 12

LOCKHEED MARTIN CORPORATION

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

FOR THE YEAR ENDED DECEMBER 31, 2006

(In millions, except ratio)

 

EARNINGS

  

Earnings before income taxes

   $ 3,592  

Interest expense

     361  

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

     (20 )

Portion of rents representative of an interest factor

     56  

Amortization of debt premium and discount, net

     (5 )
        

Adjusting earnings before income taxes

   $ 3,984  
        

FIXED CHARGES

  

Interest expense

   $ 361  

Portion of rents representative of an interest factor

     56  

Amortization of debt premium and discount, net

     (5 )

Capitalized interest

     —    
        

Total fixed charges

   $ 412  
        

RATIO OF EARNINGS TO FIXED CHARGES

     9.7