EX-12 3 exhibit_12.htm EXHIBIT 12 Exhibit 12

Exhibit 12
General Electric Company
Ratio of Earnings to Fixed Charges
(Dollars in millions) Three months ended 
March 31, 2002

GE except GECS
Earnings (a)

$   4,634 
Less:  Equity in undistributed earnings of General Electric 
  Capital Services, Inc. (b) (1,126)
Plus:  Interest and other financial 
  charges included in expense  157 
  One-third of rental expense (c) 58 
   
Adjusted "earnings" 

$   3,723 
   
Fixed Charges: 
  Interest and other financial charges  157 
  Interest capitalized 
  One-third of rental expense (c) 58 
   
Total fixed charges 

$     218 
   
Ratio of earnings to fixed charges  17.08 
   
General Electric Company and consolidated affiliates
Earnings (a)

$   5,083 
Plus:  Interest and other financial charges 
  included in expense  2,407 
  One-third of rental expense (c) 135 
   
Adjusted "earnings" 

$   7,625 
   
Fixed Charges: 
  Interest and other financial charges 

$   2,407 
  Interest capitalized  13 
  One-third of rental expense (c) 135 
   
Total fixed charges 

$ 2,555 
   
Ratio of earnings to fixed charges  2.98 
   

(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