1
Exhibit 12
TRW Inc. and Subsidiaries
Computation of Ratio of Earnings
to Fixed Charges - Unaudited
(In millions except ratio data)
Years Ended December 31
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1994 1993 1992 1991 1990
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Earnings(loss) before income
taxes and cumulative effect
of accounting changes $534.5 $359.1 $347.6 $(129.4)(A) $343.1
Unconsolidated affiliates (0.6) 0.7 (0.9) (1.0) (13.2)
Minority earnings 5.2 5.7 2.6 (7.8) (0.5)
Fixed charges excluding
capitalized interest 160.9 194.0 227.1 254.3 252.0
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Earnings $700.0 $559.5 $576.4 $ 116.1 $581.4
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Fixed charges:
Interest expense $104.8 $137.8 $162.9 $ 189.6 $186.9
Capitalized interest 6.6 7.9 12.7 10.1 7.6
Portion of rents representa-
tive of interest factor 54.7 54.0 64.0 64.4 64.6
Interest expense of uncon-
solidated affiliates 1.4 2.2 0.2 0.3 0.5
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Total fixed charges $167.5 $201.9 $239.8 $ 264.4 $259.6
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Ratio of earnings to fixed
charges 4.2x 2.8x 2.4x 0.4x(A) 2.2x
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<FN>
(A) The 1991 loss before income taxes of $129.4 million includes a charge of $343 million to cover costs associated with
restructuring activities. Excluding this charge, the ratio of earnings to fixed charges would have been 1.7x.