EX-12 3 rtn-12312017xexx12.htm STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit


Exhibit 12
 
RAYTHEON COMPANY
 
STATEMENT REGARDING COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES
(income excludes discontinued operations for all periods)
 
 
 
Year Ended December 31,
(In millions, except ratio)
 
2017

 
2016

 
2015

 
2014
 
2013
Pretax income from continuing
   operations attributable to Raytheon
   Company common stockholders(1)(2)
 
$
3,141

 
$
3,113

 
$
2,839

 
$
2,952

 
$
2,740

Add:
 
 
 
 
 
 
 
 
 
 
Fixed charges
 
290

 
318

 
317

 
291

 
296

Amortization of capitalized interest
 
5

 
4

 
3

 
4

 
4

Less:
 
 
 
 
 
 
 
 
 
 
Capitalized interest
 
9

 
6

 
5

 
3

 
3

Income as adjusted
 
$
3,427

 
$
3,429

 
$
3,154

 
$
3,244

 
$
3,037

Fixed charges:
 
 
 
 
 
 
 
 
 
 
Portion of rents representative of
   interest factor
 
$
76

 
$
80

 
$
79

 
$
75

 
$
83

Interest on indebtedness
 
205

 
232

 
233

 
213

 
210

Capitalized interest
 
9

 
6

 
5

 
3

 
3

Fixed charges
 
$
290

 
$
318

 
$
317

 
$
291

 
$
296

Ratio of earnings to fixed charges
 
11.8

 
10.8

 
9.9

 
11.1

 
10.3

(1)
Net of adjustment for earnings from affiliates.
(2)
Amounts prior to 2015 do not reflect the impact of the adoption of Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606), in the first quarter of 2017.