EX-12 3 0003.txt EXHIBIT 12 GENERAL ELECTRIC CAPITAL CORPORATION AND CONSOLIDATED AFFILIATES Computation of Ratio of Earnings to Fixed Charges and Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends Nine Months Ended September 30, 2000 (Unaudited)
(Dollar Amounts In millions) Ratio of Earnings to Combined Fixed Ratio of Charges and Earnings to Preferred Stock Fixed Charges Dividends ----------------- ----------------- Net earnings $ 3,729 $ 3,729 Provision for income taxes 1,508 1,508 Minority interest in net earnings of consolidated affiliates 62 62 -------- -------- Earnings before provision for income taxes and minority interest 5,299 5,299 -------- -------- Fixed charges: Interest 7,903 7,903 One-third of rentals 291 291 -------- -------- Total fixed charges 8,194 8,194 Less interest capitalized, net of amortization (90) (90) -------- -------- Earnings before provision for income taxes and minority interest, plus fixed charges $ 13,403 $ 13,403 ======== ======== Ratio of earnings to fixed charges 1.64 ======== Preferred stock dividend requirements $ 94 Ratio of earnings before provision for income taxes to net earnings 1.40 -------- Preferred stock dividend factor on pre-tax basis 132 Fixed charges 8,194 -------- Total fixed charges and preferred stock dividend requirements $ 8,326 ======== Ratio of earnings to combined fixed charges and preferred stock dividends 1.61 ======== For purposes of computing the ratios, fixed charges consist of interest on all indebtedness and one-third of rentals, which management believes is a reasonable approximation of the interest factor of such rentals.