Attached files
| file | filename |
|---|---|
| 10-K - FORM 10-K - LOCKHEED MARTIN CORP | d290249d10k.htm |
| EX-21 - EX-21 - LOCKHEED MARTIN CORP | d290249dex21.htm |
| EX-23 - EX-23 - LOCKHEED MARTIN CORP | d290249dex23.htm |
| EX-24 - EX-24 - LOCKHEED MARTIN CORP | d290249dex24.htm |
| EX-32 - EX-32 - LOCKHEED MARTIN CORP | d290249dex32.htm |
| EX-31.1 - EX-31.1 - LOCKHEED MARTIN CORP | d290249dex311.htm |
| EX-31.2 - EX-31.2 - LOCKHEED MARTIN CORP | d290249dex312.htm |
| EX-10.27 - EX-10.27 - LOCKHEED MARTIN CORP | d290249dex1027.htm |
| EX-10.26 - EX-10.26 - LOCKHEED MARTIN CORP | d290249dex1026.htm |
| EX-10.25 - EX-10.25 - LOCKHEED MARTIN CORP | d290249dex1025.htm |
Exhibit 12
Lockheed Martin Corporation
Computation of Ratio of Earnings to Fixed Charges
(in millions, except ratios)
| Years ended December 31, | ||||||||||||||||||||
| 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||
| Earnings |
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| Earnings from continuing operations before income taxes |
$ | 4,886 | $ | 4,299 | $ | 4,677 | $ | 3,715 | $ | 3,388 | ||||||||||
| Interest expense |
663 | 443 | 340 | 350 | 383 | |||||||||||||||
| Undistributed earnings from equity investees, net |
(173 | ) | (83 | ) | (91 | ) | (91 | ) | 20 | |||||||||||
| Portion of rents representative of the interest factor |
31 | 36 | 41 | 48 | 48 | |||||||||||||||
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| Earnings from continuing operations before income taxes, as adjusted |
$ | 5,407 | $ | 4,695 | $ | 4,967 | $ | 4,022 | $ | 3,839 | ||||||||||
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| Fixed Charges |
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| Interest expense |
$ | 663 | $ | 443 | $ | 340 | $ | 350 | $ | 383 | ||||||||||
| Portion of rents representative of the interest factor |
31 | 36 | 41 | 48 | 48 | |||||||||||||||
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| Total fixed charges |
$ | 694 | $ | 479 | $ | 381 | $ | 398 | $ | 431 | ||||||||||
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| Ratio of Earnings to Fixed Charges |
7.8 | 9.8 | 13.0 | 10.1 | 8.9 | |||||||||||||||
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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.