Exhibit 12

Lockheed Martin Corporation

Computation of Ratio of Earnings to Fixed Charges

For the Six Months Ended June 30, 2007

(In millions, except ratio)

Earnings
Earnings before income taxes	$	2,067
Interest expense		186
Losses (undistributed earnings) of 50% and less than 50% owned companies, net		(37	)
Portion of rents representative of an interest factor		29
Amortization of debt premium and discount, net		(3	)
Adjusted earnings from continuing operations before income taxes	$	2,242
Fixed Charges
Interest expense	$	186
Portion of rents representative of an interest factor		29
Amortization of debt premium and discount, net		(3	)
Capitalized interest		—
Total fixed charges	$	212
Ratio of Earnings to Fixed Charges		10.6