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

General Electric Company
Ratio of Earnings to Fixed Charges


 
Years ended December 31
  
(Dollars in millions)
2006
  
2005
  
2004
  
2003
  
2002
  
                               
General Electric Company and consolidated affiliates
                              
Earnings(a)
$
25,528
  
$
23,682
  
$
21,025
  
$
18,455
  
$
18,735
  
Plus:
Interest and other financial charges included in expense
  
19,511
    
15,191
    
11,681
    
10,541
    
9,921
  
 
One-third of rental expense(b)
  
641
    
644
    
601
    
520
    
558
  
                               
Adjusted “earnings”
$
45,680
  
$
39,517
  
$
33,307
  
$
29,516
  
$
29,214
  
                               
Fixed charges:
                              
 
Interest and other financial charges
$
19,511
  
$
15,191
  
$
11,681
  
$
10,541
  
$
9,921
  
 
Interest capitalized
  
81
    
108
    
92
    
48
    
53
  
 
One-third of rental expense(b)
  
641
    
644
    
601
    
520
    
558
  
                               
Total fixed charges
$
20,233
  
$
15,943
  
$
12,374
  
$
11,109
  
$
10,532
  
                               
Ratio of earnings to fixed charges
  
2.26
    
2.48
    
2.69
    
2.66
    
2.77
  
                               

(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.