Exhibit 12

Lockheed Martin Corporation

Computation of Ratio of Earnings from Continuing Operations to Fixed Charges

Year Ended December 31, 2010

(In millions, except ratio)
Earnings
Earnings from continuing operations before income taxes	$	3,826
Interest expense		345
Less: Undistributed earnings of 50% and less than 50% owned companies, net		(81	)
Portion of rents representative of an interest factor and other		48
Adjusted earnings from continuing operations before income taxes	$	4,138
Fixed Charges
Interest expense	$	345
Portion of rents representative of an interest factor and other		48
Total fixed charges	$	393
Ratio of Earnings from Continuing Operations to Fixed Charges		10.5