EX-12 2 f10k_ex12.htm EXHIBIT 12 Exhibit 12

Exhibit 12

General Electric Company
Ratio of Earnings to Fixed Charges

 
Years ended December 31
 
 
2005
 
2004
 
2003
 
2002
 
2001
 
(Dollars in millions)
As
previously
reported
 
As
restated
 
As
previously
reported
 
As
restated
 
As
previously
reported
 
As
restated
 
As
previously
reported
 
As
restated
 
As
previously
reported
 
As
restated
 
                                                             
General Electric Company and
consolidated affiliates
                                                           
Earnings(a)
$
23,115
 
$
23,704
 
$
20,499
   
21,062
 
$
17,919
 
$
18,455
 
$
20,662
 
$
18,735
 
$
18,472
 
$
17,935
 
Plus:
Interest and other financial charges
included in expense
 
15,276
   
15,227
   
11,721
   
11,676
   
10,542
   
10,541
   
9,883
   
9,921
   
10,775
   
10,808
 
 
One-third of rental expense(b)
 
644
   
644
   
601
   
601
   
520
   
520
   
558
   
558
   
538
   
538
 
                                                             
Adjusted “earnings”
$
39,035
 
$
39,575
 
$
32,821
 
$
33,339
 
$
28,981
 
$
29,516
 
$
31,103
 
$
29,214
 
$
29,785
 
$
29,281
 
                                                             
Fixed charges:
                                                           
 
Interest and other financial charges
$
15,276
 
$
15,227
 
$
11,721
 
$
11,676
 
$
10,542
 
$
10,541
 
$
9,883
 
$
9,921
 
$
10,775
 
$
10,808
 
 
Interest capitalized
 
108
   
108
   
92
   
92
   
48
   
48
   
53
   
53
   
98
   
98
 
 
One-third of rental expense
 
644
   
644
   
601
   
601
   
520
   
520
   
558
   
558
   
538
   
538
 
                                                             
Total fixed charges
$
16,028
 
$
15,979
 
$
12,414
 
$
12,369
 
$
11,110
 
$
11,109
 
$
10,494
 
$
10,532
 
$
11,411
 
$
11,444
 
                                                             
Ratio of earnings to fixed charges
 
2.44
   
2.48
   
2.64
   
2.70
   
2.61
   
2.66
   
2.96
   
2.77
   
2.61
   
2.56
 
                                                             

(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.