EXHIBIT 12.2 PRO FORMA RATIO OF EARNINGS TO FIXED CHARGES UNITED DEFENSE INDUSTRIES, INC. ($ IN MILLIONS) YEAR ENDED 9-MONTHS 1996 SEPT. 1997 --------- ----------- FIXED CHARGES: (1/3) of rent expense......................................................................... $ 4.3 $ 3.9 Interest expense.............................................................................. 66.1 49.6 --------- ----- Total Fixed Charges......................................................................... $ 70.4 $ 53.5 --------- ----- --------- ----- ADJUSTED EARNINGS: Equity earnings--foreign subsidiaries......................................................... $ 31.9 $ 13.5 Dividends received from foreign subsidiaries.................................................. 28.1 13.9 --------- ----- Equity earnings adjustment (a)................................................................ (3.8) 0.4 Net income before taxes (b)................................................................... (2.5) (3.2) Fixed charges (from above) (c)................................................................ 70.4 53.5 NUMERATOR: SUM OF (A), (B), & (C) --------- ----- Adjusted Income & Fixed Charges............................................................... 69.1 50.7 --------- ----- DENOMINATOR: Fixed charges................................................................................. 70.4 53.5 --------- ----- RATIO OF EARNINGS TO FIXED CHARGES............................................................ 1.0 0.9 --------- ----- --------- ----- DEFICIT OF EARNINGS TO COVER FIXED CHARGES.................................................... (1.3) (2.8) --------- ----- --------- -----