1 Exhibit 99 TRW Inc. and Subsidiaries Computation of Ratio of Earnings to Fixed Charges - Unaudited (In millions except ratio data) Six Months Years Ended December 31 ended --------------------------------------------------------------------------------- June 30, 1997 1996 1995 1994 1993 1992 ------------- ---------------- ------------ ----------- ----------- ------------- Earnings from continuing operations before income taxes $414.0 $302.2(A) $625.5 $435.5 $289.2 $276.4 Unconsolidated affiliates (1.0) 1.4 1.3 (0.6) 0.7 (0.9) Minority earnings 10.9 11.5 10.8 7.7 1.4 0.1 Fixed charges excluding capitalized interest 61.6 129.0 137.2 145.3 177.5 208.1 ---- ----- ----- ----- ----- ----- Earnings $485.5 $444.1 $774.8 $587.9 $468.8 $483.7 ------ ------ ------ ------ ------ ------ Fixed Charges: Interest expense $37.4 $84.2 $94.7 $104.7 $137.4 $162.1 Capitalized interest 2.1 3.5 5.1 6.6 7.9 12.7 Portion of rents representa- tive of interest factor 24.1 43.2 41.4 39.2 37.9 45.8 Interest expense of uncon- solidated affiliates 0.0 1.6 1.1 1.4 2.2 0.2 --- --- --- --- --- --- Total fixed charges $63.6 $132.5 $142.3 $151.9 $185.4 $220.8 ----- ----- ------ ------ ------ ------ Ratio of earnings to fixed 7.6x 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.