EX-12.A 4 geccexhibit12a.htm GECC EXHIBIT 12(A) geccexhibit12a.htm
Exhibit 12(a)


General Electric Capital Corporation and consolidated affiliates
 
Computation of Ratio of Earnings to Combined Fixed Charges


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year ended December 31
(Dollars in millions)
2010 
 
2009 
 
2008 
 
2007 
 
2006 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings (loss)(a)
$
2,027 
 
$
(2,693)
 
$
6,157 
 
$
13,526 
 
$
11,915 
Plus:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    Interest included in expense(b)
 
14,924 
 
 
17,491 
 
 
24,654 
 
 
22,420 
 
 
17,605 
    One-third of rental expense(c)
 
212 
 
 
267 
 
 
171 
 
 
336 
 
 
306 
    Adjusted "earnings"(d)
$
17,163 
 
$
15,065 
 
$
30,982 
 
$
36,282 
 
$
29,826 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    Interest included in expense(b)
$
14,924 
 
$
17,491 
 
$
24,654 
 
$
22,420 
 
$
17,605 
    Interest capitalized
 
39 
 
 
39 
 
 
65 
 
 
80 
 
 
77 
    One-third of rental expense(c)
 
212 
 
 
267 
 
 
171 
 
 
336 
 
 
306 
Total fixed charges
$
15,175 
 
$
17,797 
 
$
24,890 
 
$
22,836 
 
$
17,988 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
 1.13 
 
 
 0.85 
 
 
1.24 
 
 
1.59 
 
 
1.66 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)  
Earnings (loss) before income taxes, noncontrolling interests, discontinued operations and undistributed earnings of equity investees.
 
(b)  
Included interest on tax deficiencies.
 
(c)  
Considered to be representative of interest factor in rental expense.
 
(d)  
In accordance with Item 503 of SEC Regulation S-K, we are required to disclose the amount of earnings needed to achieve a one-to-one ratio of earnings to fixed charges. As of December 31, 2009, this amount was $2,732 million.