Northrop Grumman (NOC) 10-Q2010 Q2 Quarterly report

Filed: 29 Jul 10, 12:00am

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Removed: BACN, Battlefield, Block, Bombardier, combat, conditioning, consistent, contingency, cooling, distribution, experienced, fielding, form, grounding, harmonized, heating, LCOE, lighting, manufacturer, matching, met, mitigate, Mounted, Node, optimization, preliminary, Quadrennial, requirement, responsive, size, SSG, subsequently, trade, Trailer, TSG, unused, utilizing, variable, workspace

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Exhibit 12(a)

NORTHROP GRUMMAN CORPORATION
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES


												Six Months
	Year Ended December 31											Ended June 30
	2009		2008			2007		2006		2005		2010		2009⁽¹⁾
Earnings:
Earnings (loss) from continuing operations before income taxes	$	2,266	$	(520	)		2,606	$	2,226	$	2,001	$	1,330	$	1,111

Fixed Charges:
Interest expense, including amortization of debt premium		281		295			336		346		388		148		143
Portion of rental expenses on operating leases deemed to be representative of the interest factor		183		190			189		174		169		86		94

Earnings (loss) from continuing operations before income taxes and fixed charges		2,730		(35	)		3,131		2,746		2,558		1,564		1,348
Fixed Charges:		464		485			525		520		557		234		237

Ratio of earnings to fixed charges⁽²⁾		5.9		–			6.0		5.3		4.6		6.7		5.7


⁽¹⁾		Certain prior-period information has been reclassified to conform to the current year’s presentation.
⁽²⁾		For the year ended December 31, 2008, the company’s earnings were insufficient to cover fixed charges by $520 million. This loss was entirely due to the non-cash goodwill impairment charge of $3.1 billion recorded during the fourth quarter at the Aerospace Systems and Shipbuilding segments.