Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - LOCKHEED MARTIN CORP | d189173d10q.htm |
| EX-32 - EX-32 - LOCKHEED MARTIN CORP | d189173dex32.htm |
| EX-31.2 - EX-31.2 - LOCKHEED MARTIN CORP | d189173dex312.htm |
| EX-31.1 - EX-31.1 - LOCKHEED MARTIN CORP | d189173dex311.htm |
| EX-15 - EX-15 - LOCKHEED MARTIN CORP | d189173dex15.htm |
| EX-10.2 - EX-10.2 - LOCKHEED MARTIN CORP | d189173dex102.htm |
| EX-10.1 - EX-10.1 - LOCKHEED MARTIN CORP | d189173dex101.htm |
| EX-2.2 - EX-2.2 - LOCKHEED MARTIN CORP | d189173dex22.htm |
| EX-2.1 - EX-2.1 - LOCKHEED MARTIN CORP | d189173dex21.htm |
Exhibit 12
Lockheed Martin Corporation
Computation of Ratio of Earnings to Fixed Charges
(in millions, except ratios)
| Six Months Ended |
Six Months Ended |
Years Ended December 31, | ||||||||||||||||||||||||||||||||||||||||
| June 26, 2016 |
June 28, 2015 |
2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||
| Earnings |
||||||||||||||||||||||||||||||||||||||||||
| Earnings from continuing operations before income taxes | $ | 2,534 | $ | 2,609 | $ | 5,023 | $ | 5,258 | $ | 4,155 | $ | 4,072 | $ | 3,631 | ||||||||||||||||||||||||||||
| Interest expense | 330 | 197 | 443 | 340 | 350 | 383 | 354 | |||||||||||||||||||||||||||||||||||
| Undistributed earnings from equity investees, net | (77) | (31) | (83) | (91) | (91) | 20 | (104) | |||||||||||||||||||||||||||||||||||
| Portion of rents representative of the interest factor | 11 | 15 | 36 | 41 | 48 | 48 | 59 | |||||||||||||||||||||||||||||||||||
| Earnings from continuing operations before income taxes, as adjusted | $ | 2,798 | $ | 2,790 | $ | 5,419 | $ | 5,548 | $ | 4,462 | $ | 4,523 | $ | 3,940 | ||||||||||||||||||||||||||||
| Fixed Charges | ||||||||||||||||||||||||||||||||||||||||||
| Interest expense | $ | 330 | $ | 197 | $ | 443 | $ | 340 | $ | 350 | $ | 383 | $ | 354 | ||||||||||||||||||||||||||||
| Portion of rents representative of the interest factor | 11 | 15 | 36 | 41 | 48 | 48 | 59 | |||||||||||||||||||||||||||||||||||
| Total fixed charges |
$ | 341 | $ | 212 | $ | 479 | $ | 381 | $ | 398 | $ | 431 | $ | 413 | ||||||||||||||||||||||||||||
| Ratio of Earnings to Fixed Charges |
8.2 | 13.2 | 11.3 | 14.6 | 11.2 | 10.5 | 9.5 | |||||||||||||||||||||||||||||||||||
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 positive ratio indicates that earnings are sufficient to cover our current interest requirements.