EX-12 3 ex12.htm EXHIBIT 12 Exhibit 12
Exhibit 12

 

General Electric Company
Ratio of Earnings to Fixed Charges

 

(Dollars in millions) Nine months ended
September 30, 2001

GE except GECS                  
Earnings (a) $ 13,463 
Less:    Equity in undistributed earnings of General Electric 
  Capital Services, Inc. (b) (2,719)
Plus:  Interest and other financial charges included in expense  614 
  One-third of rental expense (c) 152 

Adjusted "earnings"  $ 11,510 

Fixed Charges: 
  Interest and other financial charges  $ 614 
  Interest capitalized 
  One-third of rental expense (c) 152 

Total fixed charges  $ 773 

Ratio of earnings to fixed charges  14.89 

General Electric Company and consolidated affiliates
Earnings (a) $ 14,616 
Plus:  Interest and other financial charges included in expense  8,537 
  One-third of rental expense (c) 385 

Adjusted "earnings"  $ 23,538 

Fixed Charges: 
  Interest and other financial charges  $ 8,537 
  Interest capitalized  82 
  One-third of rental expense (c) 385 

Total fixed charges  $ 9,004 

Ratio of earnings to fixed charges  2.61 

   

(a) Earnings before income taxes, minority interest and cumulative effect of changes in accounting principle.  
(b) Earnings after income taxes, net of dividends, and before cumulative effect of changes in accounting principle.  
(c) Considered to be representative of interest factor in rental expense.