Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - LOCKHEED MARTIN CORP | lmtq3201710q.htm |
| EX-10.2 - EX-10.2 - LOCKHEED MARTIN CORP | ex102q32017.htm |
| EX-32 - EX-32 - LOCKHEED MARTIN CORP | ex32q32017.htm |
| EX-31.1 - EX-31.1 - LOCKHEED MARTIN CORP | ex311q32017.htm |
| EX-15 - EX-15 - LOCKHEED MARTIN CORP | ex15q32017.htm |
| EX-31.2 - EX-31.2 - LOCKHEED MARTIN CORP | ex312q32017.htm |
| EX-10.1 - EX-10.1 - LOCKHEED MARTIN CORP | ex101q32017.htm |
Exhibit 12
Lockheed Martin Corporation
Computation of Ratio of Earnings to Fixed Charges
(in millions, except ratios)
Nine Months Ended | |||||||||||||||||||||||||
September 24, | Years Ended December 31, | ||||||||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||||||
Earnings | |||||||||||||||||||||||||
Earnings from continuing operations before income taxes | $ | 3,577 | $ | 4,886 | $ | 4,299 | $ | 4,677 | $ | 3,715 | $ | 3,388 | |||||||||||||
Interest expense | 477 | 663 | 443 | 340 | 350 | 383 | |||||||||||||||||||
Undistributed losses (earnings) from equity investees, net | 5 | (173 | ) | (83 | ) | (91 | ) | (91 | ) | 20 | |||||||||||||||
Portion of rents representative of the interest factor | 14 | 31 | 36 | 41 | 48 | 48 | |||||||||||||||||||
Earnings from continuing operations before income taxes, as adjusted | $ | 4,073 | $ | 5,407 | $ | 4,695 | $ | 4,967 | $ | 4,022 | $ | 3,839 | |||||||||||||
Fixed Charges | |||||||||||||||||||||||||
Interest expense | $ | 477 | $ | 663 | $ | 443 | $ | 340 | $ | 350 | $ | 383 | |||||||||||||
Portion of rents representative of the interest factor | 14 | 31 | 36 | 41 | 48 | 48 | |||||||||||||||||||
Total fixed charges | $ | 491 | $ | 694 | $ | 479 | $ | 381 | $ | 398 | $ | 431 | |||||||||||||
Ratio of Earnings to Fixed Charges | 8.3 | 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 interest requirements for the periods shown.