Attached files
| file | filename |
|---|---|
| EX-32 - EX-32 - LOCKHEED MARTIN CORP | d360426dex32.htm |
| EX-31.2 - EX-31.2 - LOCKHEED MARTIN CORP | d360426dex312.htm |
| EX-31.1 - EX-31.1 - LOCKHEED MARTIN CORP | d360426dex311.htm |
| EX-15 - EX-15 - LOCKHEED MARTIN CORP | d360426dex15.htm |
| EX-10.4 - EX-10.4 - LOCKHEED MARTIN CORP | d360426dex104.htm |
| EX-10.3 - EX-10.3 - LOCKHEED MARTIN CORP | d360426dex103.htm |
| EX-10.2 - EX-10.2 - LOCKHEED MARTIN CORP | d360426dex102.htm |
| EX-10.1 - EX-10.1 - LOCKHEED MARTIN CORP | d360426dex101.htm |
| 10-Q - 10-Q - LOCKHEED MARTIN CORP | d360426d10q.htm |
Exhibit 12
Lockheed Martin Corporation
Computation of Ratio of Earnings to Fixed Charges
(in millions, except ratios)
| Quarter ended |
||||||||||||||||||||||||
| March 26, | Years ended December 31, | |||||||||||||||||||||||
| 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||||||
| Earnings |
||||||||||||||||||||||||
| Earnings from continuing operations before income taxes |
$ | 995 | $ | 4,886 | $ | 4,299 | $ | 4,677 | $ | 3,715 | $ | 3,388 | ||||||||||||
| Interest expense |
155 | 663 | 443 | 340 | 350 | 383 | ||||||||||||||||||
| Undistributed earnings from equity investees, net |
68 | (173) | (83) | (91) | (91) | 20 | ||||||||||||||||||
| Portion of rents representative of the interest factor |
6 | 31 | 36 | 41 | 48 | 48 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Earnings from continuing operations before income taxes, as adjusted |
$ | 1,224 | $ | 5,407 | $ | 4,695 | $ | 4,967 | $ | 4,022 | $ | 3,839 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Fixed Charges |
||||||||||||||||||||||||
| Interest expense |
$ | 155 | $ | 663 | $ | 443 | $ | 340 | $ | 350 | $ | 383 | ||||||||||||
| Portion of rents representative of the interest factor |
6 | 31 | 36 | 41 | 48 | 48 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total fixed charges |
$ | 161 | $ | 694 | $ | 479 | $ | 381 | $ | 398 | $ | 431 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Ratio of Earnings to Fixed Charges |
7.6 | 7.8 | 9.8 | 13.0 | 10.1 | 8.9 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
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.