EX-12 5 ex12.htm EXHIBIT 12 Exhibit 12
Exhibit 12

General Electric Company
Ratio of Earnings to Fixed Charges


 
Years ended December 31
  
(Dollars in millions)
  
2005
    
2004
    
2003
    
2002
    
2001
  
                                                       
General Electric Company and consolidated affiliates
                              
Earnings (a)
$
23,115
   
$
20,499
   
$
17,919
   
$
20,662
   
$
18,472
  
Plus:
Interest and other financial charges
     included in expense
  
15,276
    
11,721
    
10,542
    
9,883
    
10,775
  
 
One-third of rental expense (b)
  
644
    
601
    
520
    
558
    
538
  
                               
Adjusted “earnings”
$
39,035
  
$
32,821
  
$
28,981
  
$
31,103
  
$
29,785
  
                               
Fixed Charges:
                              
 
Interest and other financial charges
$
15,276
  
$
11,721
  
$
10,542
  
$
9,883
  
$
10,775
  
 
Interest capitalized
  
108
    
92
    
48
    
53
    
98
  
 
One-third of rental expense (b)
  
644
    
601
    
520
    
558
    
538
  
                               
Total fixed charges
$
16,028
  
$
12,414
  
$
11,110
  
$
10,494
  
$
11,411
  
                               
Ratio of earnings to fixed charges
 
2.44
    
2.64
    
2.61
    
2.96
    
2.61
  
 
                              

(a)
 
Earnings before income taxes, minority interest, discontinued operations and cumulative effect of accounting changes.
 
(b)
 
Considered to be representative of interest factor in rental expense.