EX-12.B 3 ge8k113015ex12b.htm
Exhibit 12(b)
 
                             
General Electric Company
 
Pro Forma Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
 
                             
 
Years ended December 31
 
(Dollars in millions)
 
 
2014
 
   
2013
 
   
2012
 
   
2011
 
   
2010
 
     
   
 
   
   
 
   
   
 
   
   
 
   
General Electric Company and
 
                           
   consolidated affiliates
 
                           
Earnings(a)
 
$
 
9,769
 
 
$
 
9,040
 
 
$
 
8,529
 
 
$
 
12,847
 
 
$
 
15,913
 
Plus:
 
                           
   Interest and other financial charges
 
                           
      included in expense(b)
 
 
9,482
 
   
10,116
 
   
12,407
 
   
14,422
 
   
15,431
 
   One-third of rental expense(c)
 
 
473
 
   
504
 
   
510
 
   
462
 
   
563
 
                             
Adjusted "earnings"
 
$
 
19,724
 
 
$
 
19,660
 
 
$
 
21,446
 
 
$
 
27,731
 
 
$
 
31,907
 
                             
Fixed charges:
 
                           
   Interest and other financial charges
 
                           
      included in expense(b)
 
$
 
9,482
 
 
$
 
10,116
 
 
$
 
12,407
 
 
$
 
14,422
 
 
$
 
15,431
 
   Interest capitalized
 
 
25
 
   
29
 
   
28
 
   
25
 
   
39
 
   One-third of rental expense(c)
 
 
473
 
   
504
 
   
510
 
   
462
 
   
563
 
                             
Total fixed charges
 
$
 
9,980
 
 
$
 
10,649
 
 
$
 
12,945
 
 
$
 
14,909
 
 
$
 
16,033
 
                             
Pro forma ratio of earnings to fixed charges
 
 
1.98
 
   
1.85
 
   
1.66
 
   
1.86
 
   
1.99
 
                             
Preferred stock dividend requirements
 
$
 
-
 
 
$
 
-
 
 
$
 
-
 
 
$
 
1,031
 
 
$
 
300
 
                             
Pro forma ratio of earnings before provision for
 
                           
   income taxes to earnings from
 
                           
   continuing operations
 
 
1.08
 
   
1.15
 
   
1.16
 
   
1.49
 
   
1.18
 
                             
Preferred stock dividend factor on pre-tax basis
 
$
 
-
 
 
$
 
-
 
 
$
 
-
 
 
$
 
1,536
 
 
$
 
354
 
Fixed charges
 
 
9,980
 
   
10,649
 
   
12,945
 
   
14,909
 
   
16,033
 
                             
Total fixed charges and preferred stock
 
                           
   dividend requirements
 
$
 
9,980
 
 
$
 
10,649
 
 
$
 
12,945
 
 
$
 
16,445
 
 
$
 
16,387
 
                             
Pro forma ratio of earnings to combined fixed
 
                           
   charges and preferred stock dividends
 
 
1.98
 
   
1.85
 
   
1.66
 
   
1.69
 
   
1.95
 
                             
(a) Pro forma earnings before income taxes, noncontrolling interests, discontinued operations and undistributed earnings of equity investees.
(b) Included interest on tax deficiencies and interest on discontinued operations.

(c) Considered to be representative of interest factor in rental expense.