Attached files
| file | filename |
|---|---|
| EX-23 - EX-23 - LOCKHEED MARTIN CORP | d62685dex23.htm |
| EX-32 - EX-32 - LOCKHEED MARTIN CORP | d62685dex32.htm |
| EX-21 - EX-21 - LOCKHEED MARTIN CORP | d62685dex21.htm |
| EX-24 - EX-24 - LOCKHEED MARTIN CORP | d62685dex24.htm |
| EX-31.1 - EX-31.1 - LOCKHEED MARTIN CORP | d62685dex311.htm |
| EX-31.2 - EX-31.2 - LOCKHEED MARTIN CORP | d62685dex312.htm |
| EX-10.22 - EX-10.22 - LOCKHEED MARTIN CORP | d62685dex1022.htm |
| 10-K - FORM 10-K - LOCKHEED MARTIN CORP | d62685d10k.htm |
Exhibit 12
Lockheed Martin Corporation
Computation of Ratio of Earnings to Fixed Charges
(in millions, except ratios)
| Years ended December 31, | ||||||||||||||||||||
| 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||
| Earnings |
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| Earnings from continuing operations before income taxes |
$ | 5,023 | $ | 5,258 | $ | 4,155 | $ | 4,072 | 3,631 | |||||||||||
| Interest expense |
443 | 340 | 350 | 383 | 354 | |||||||||||||||
| Undistributed earnings from equity investees, net |
(83 | ) | (91 | ) | (91 | ) | 20 | (104 | ) | |||||||||||
| Portion of rents representative of the interest factor |
36 | 41 | 48 | 48 | 59 | |||||||||||||||
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| Earnings from continuing operations before income taxes, as adjusted |
$ | 5,419 | $ | 5,548 | $ | 4,462 | $ | 4,523 | 3,940 | |||||||||||
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| Fixed Charges |
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| Interest expense |
$ | 443 | $ | 340 | $ | 350 | $ | 383 | 354 | |||||||||||
| Portion of rents representative of the interest factor |
36 | 41 | 48 | 48 | 59 | |||||||||||||||
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| Total fixed charges |
$ | 479 | $ | 381 | $ | 398 | $ | 431 | 413 | |||||||||||
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| Ratio of Earnings to Fixed Charges |
11.3 | 14.6 | 11.2 | 10.5 | 9.5 | |||||||||||||||
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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.