Attached files
| file | filename |
|---|---|
| 8-K - 8-K - LOCKHEED MARTIN CORP | d10444d8k.htm |
| EX-1.1 - EX-1.1 - LOCKHEED MARTIN CORP | d10444dex11.htm |
| EX-4.5 - EX-4.5 - LOCKHEED MARTIN CORP | d10444dex45.htm |
| EX-4.4 - EX-4.4 - LOCKHEED MARTIN CORP | d10444dex44.htm |
| EX-4.6 - EX-4.6 - LOCKHEED MARTIN CORP | d10444dex46.htm |
| EX-4.1 - EX-4.1 - LOCKHEED MARTIN CORP | d10444dex41.htm |
| EX-4.2 - EX-4.2 - LOCKHEED MARTIN CORP | d10444dex42.htm |
| EX-4.3 - EX-4.3 - LOCKHEED MARTIN CORP | d10444dex43.htm |
| EX-5.1 - EX-5.1 - LOCKHEED MARTIN CORP | d10444dex51.htm |
Exhibit 12.1
Lockheed Martin Corporation
Computation of Ratio of Earnings to Fixed Charges
(in millions, except ratios)
| Nine Months Ended September 27, |
Years ended December 31, | |||||||||||||||||||||||
| 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||
| Earnings |
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| Earnings from continuing operations before income taxes |
$ | 3,860 | $ | 5,258 | $ | 4,155 | $ | 4,072 | $ | 3,631 | $ | 3,778 | ||||||||||||
| Interest expense |
301 | 340 | 350 | 383 | 354 | 345 | ||||||||||||||||||
| Undistributed earnings from equity investees, net |
(63 | ) | (91 | ) | (91 | ) | 20 | (104 | ) | (81 | ) | |||||||||||||
| Portion of rents representative of the interest factor |
21 | 41 | 48 | 48 | 59 | 48 | ||||||||||||||||||
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| Earnings from continuing operations before income taxes, as adjusted |
$ | 4,119 | $ | 5,548 | $ | 4,462 | $ | 4,523 | $ | 3,940 | $ | 4,090 | ||||||||||||
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| Fixed Charges |
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| Interest expense |
$ | 301 | $ | 340 | $ | 350 | $ | 383 | $ | 354 | $ | 345 | ||||||||||||
| Portion of rents representative of the interest factor |
21 | 41 | 48 | 48 | 59 | 48 | ||||||||||||||||||
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| Total fixed charges |
$ | 322 | $ | 381 | $ | 398 | $ | 431 | $ | 413 | $ | 393 | ||||||||||||
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| Ratio of Earnings to Fixed Charges |
12.8 | 14.6 | 11.2 | 10.5 | 9.5 | 10.4 | ||||||||||||||||||
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The ratio of earnings to fixed charges is a measure of our ability to meet the interest requirements of our outstanding debt securities and leases with current period earnings. A high ratio indicates that earnings are sufficient to cover our current interest requirements.