McDonnell Douglas Corp – ‘10-K’ for 12/31/95 – EX-12

As of:  Monday, 3/25/96   ·   For:  12/31/95   ·   Accession #:  63917-96-3   ·   File #:  1-03685

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Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                         23    102K 
 2: EX-3        Bylaws                                                13     46K 
 5: EX-10       Compensation Plan for Nonemployee Directors            7     31K 
 4: EX-10       Performance Sharing Plan                               4     19K 
 3: EX-10       Senior Executive Performance Sharing Plan              4     18K 
 9: EX-10       Settlement Agreement                                   8     35K 
 6: EX-10       Stonecipher Amended Employment Agreement              15     67K 
 7: EX-10       Stonecipher Stock Option Agreement                     3     15K 
 8: EX-10       Termination Benefits Agreement                        21     98K 
10: EX-11       Computation of Earnings Per Share                      1      7K 
11: EX-12       Computation of Ratio of Earnings to Fixed Charges      1      8K 
12: EX-13       Annual Report to Shareholders                         71    277K 
13: EX-21       Subsidiaries                                           1      7K 
14: EX-23       Consents of Independent Auditors                       2     12K 
15: EX-27       Financial Data Schedule                                1     10K 

EX-12   —   Computation of Ratio of Earnings to Fixed Charges

EX-12
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Exhibit 12
MCDONNELL DOUGLAS CORPORATION           
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES         
(Dollars in Millions)         

                       Years Ended December 31
                         ---------------------------------------------
                          1995      1994     1993       1992      1991
                         ------    ------   ------     ------    -----

EARNINGS                                                                        
Earnings (loss) from                                                        
continuing operations                                                     
before income taxes                                                       
and cumulative effect                                                     
of accounting change       ($750)     $920     $459     $1,086     $615   

ADD: Interest expense       225       249      215        468      453  
Interest factor                                               
     in rents              32        35       39         57       66
Amortization of                                               
capitalized                                               
     interest               1         1        1          2        2
                        ------   ------   ------     ------   ------
                        ($492)   $1,205     $714     $1,613   $1,136
                        ======   ======   ======     ======   ======

FIXED CHARGES                                                                   
Interest expense             $225      $249     $215      $468      $453    
Capitalized interest                               2                        
Interest factor in rents       32        35       39        57        66    
                        ------   ------    ------    ------   ------
                         $257      $284     $256      $525      $519
                        ======   ======    ======    ======   ======

Ratio of earnings to fixed                                                      
charges                     (1.9X)(A)  4.2X     2.8X      3.1X      2.2X    
                         ======   ======    ======    ======    ======

(A)  For the year ended December 31, 1995, earnings were inadequate to          
cover fixed charges.  The amount of such deficiency for the period    
was $749 million.                                                     

Dates Referenced Herein

This ‘10-K’ Filing		Date		Other Filings
Filed on:		3/25/96		None on these Dates
For Period End:		12/31/95
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