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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1996 1995 1994 1993 1992
----------- ----------- ------------ ----------- -----------
Earnings from continuing
operations before income
taxes $302.2(A) $625.5 $435.5 $289.2 $276.4
Unconsolidated affiliates 1.4 1.3 (0.6) 0.7 (0.9)
Minority earnings 11.5 10.8 7.7 1.4 0.1
Fixed charges excluding
capitalized interest 129.0 137.2 145.3 177.5 208.1
------ ------ ------ ------ ------
Earnings $444.1 $774.8 $587.9 $468.8 $483.7
------ ------ ------ ------ ------
Fixed Charges:
Interest expense $84.2 $94.7 $104.7 $137.4 $162.1
Capitalized interest 3.5 5.1 6.6 7.9 12.7
Portion of rents representa-
tive of interest factor 43.2 41.4 39.2 37.9 45.8
Interest expense of uncon-
solidated affiliates 1.6 1.1 1.4 2.2 0.2
--- --- --- --- ---
Total fixed charges $132.5 $142.3 $151.9 $185.4 $220.8
------ ------ ------ ------ ------
Ratio of earnings to fixed 3.4X 5.4X 3.9X 2.5X 2.2X
charges --- --- --- --- ---
<FN>
(A) The 1996 earnings from continuing operations before income taxes of $302.2
million includes a charge of $384.8 million as a result of actions taken in
the automotive and space and defense businesses. See "Special charges"
footnote in the Notes to Financial Statements.