1 Exhibit 99 TRW Inc. and Subsidiaries Computation of Ratio of Earnings to Fixed Charges - Unaudited (In millions except ratio data) Years Ended December 31 Six Months Ended ------------------------------------------------------------- June 30, 1999 1998 1997 1996 1995 1994 ---------------- ---------- -------------- ------------- --------- ----------- Earnings from continuing operations before income taxes $ 224.5(A) $ 746.1 $ 239.7(B) $ 302.2(C) $ 625.5 $ 435.5 Unconsolidated affiliates (30.9) 1.0 (8.0) 1.4 1.3 (0.6) Minority earnings 9.2 10.5 20.2 11.5 10.8 7.7 Fixed charges excluding capitalized interest 214.7 174.3 123.9 129.0 137.2 145.3 -------- -------- -------- -------- -------- -------- Earnings $ 417.5 $ 931.9 $ 375.8 $ 444.1 $ 774.8 $ 587.9 -------- -------- -------- -------- -------- -------- Fixed Charges: Interest expense $ 184.7 $ 114.4 $ 75.4 $ 84.2 $ 94.7 $ 104.7 Capitalized interest 1.7 4.7 4.5 3.5 5.1 6.6 Portion of rents representa- tive of interest factor 30.0 59.9 48.5 43.2 41.4 39.2 Interest expense of uncon- solidated affiliates 0.0 0.0 0.0 1.6 1.1 1.4 -------- -------- -------- -------- -------- -------- Total fixed charges $ 216.4 $ 179.0 $ 128.4 $ 132.5 $ 142.3 $ 151.9 -------- -------- -------- -------- -------- -------- Ratio of earnings to fixed charges 1.9x 5.2x 2.9x 3.4x 5.4x 3.9x -------- -------- -------- -------- -------- -------- (A) Earnings from continuing operations before income taxes for the six months ended June 30, 1999 of $224.5 million, includes an $85.3 million earnings charge for purchased in-process research and development. See "Acquisitions" footnote in the Notes to Financial Statements. (B) The 1997 earnings from continuing operations before income taxes of $239.7 million includes a $548 million earnings charge for purchased in-process research and development. See "Acquisitions" footnote in the Notes to Financial Statements of the Company's 1997 Annual Report to Shareholders. (C) 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 and Divestiture" footnote in the Notes to Financial Statements of the Company's 1996 Annual Report to Shareholders.