Attached files
| file | filename |
|---|---|
| EX-32 - EXHIBIT 32 - LOCKHEED MARTIN CORP | ex32q42017.htm |
| EX-31.2 - EXHIBIT 31.2 - LOCKHEED MARTIN CORP | ex312q42017.htm |
| EX-31.1 - EXHIBIT 31.1 - LOCKHEED MARTIN CORP | ex311q42017.htm |
| EX-24 - EXHIBIT 24 - LOCKHEED MARTIN CORP | ex24q42017.htm |
| EX-23 - EXHIBIT 23 - LOCKHEED MARTIN CORP | ex23q42017.htm |
| EX-21 - EXHIBIT 21 - LOCKHEED MARTIN CORP | ex21q42017.htm |
| EX-10.28 - EXHIBIT 10.28 - LOCKHEED MARTIN CORP | ex1028q42017.htm |
| EX-10.11 - EXHIBIT 10.11 - LOCKHEED MARTIN CORP | ex1011q42017.htm |
| EX-4.1 - EXHIBIT 4.1 - LOCKHEED MARTIN CORP | ex41q42017.htm |
| 10-K - FORM 10-K - LOCKHEED MARTIN CORP | lmtq4201710k.htm |
Exhibit 12
Lockheed Martin Corporation
Computation of Ratio of Earnings to Fixed Charges
(in millions, except ratios)
Years ended December 31, | ||||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||
Earnings | ||||||||||||||||||||
Earnings from continuing operations before income taxes | $ | 5,269 | $ | 4,886 | $ | 4,299 | $ | 4,677 | $ | 3,715 | ||||||||||
Interest expense | 651 | 663 | 443 | 340 | 350 | |||||||||||||||
Undistributed earnings from equity investees, net | (3 | ) | (173 | ) | (83 | ) | (91 | ) | (91 | ) | ||||||||||
Portion of rents representative of the interest factor | 25 | 31 | 36 | 41 | 48 | |||||||||||||||
Earnings from continuing operations before income taxes, as adjusted | $ | 5,942 | $ | 5,407 | $ | 4,695 | $ | 4,967 | $ | 4,022 | ||||||||||
Fixed Charges | ||||||||||||||||||||
Interest expense | $ | 651 | $ | 663 | $ | 443 | $ | 340 | $ | 350 | ||||||||||
Portion of rents representative of the interest factor | 25 | 31 | 36 | 41 | 48 | |||||||||||||||
Total fixed charges | $ | 676 | $ | 694 | $ | 479 | $ | 381 | $ | 398 | ||||||||||
Ratio of Earnings to Fixed Charges | 8.8 | 7.8 | 9.8 | 13.0 | 10.1 | |||||||||||||||
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.