Exhibit 12 LOCKHEED MARTIN CORPORATION COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES FOR THE SIX MONTHS ENDED JUNE 30, 1996 (IN MILLIONS, EXCEPT RATIO) EARNINGS: Earnings from continuing operations before income taxes $ 936 Interest expense 260 Amortization of debt premium and discount, net (1) Portion of rents representative of an interest factor 36 ------ Adjusted earnings from continuing operations before income taxes and fixed charges $1,231 ====== FIXED CHARGES: Interest expense $ 260 Amortization of debt premium and discount, net (1) Portion of rents representative of an interest factor 36 Capitalized interest 1 ------ Total fixed charges $ 296 ====== RATIO OF EARNINGS TO FIXED CHARGES 4.2 ====== 35 of 35