EX-12 3 ex12a-gecc.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12 (a) GENERAL ELECTRIC CAPITAL CORPORATION AND CONSOLIDATED AFFILIATES Computation of Ratio of Earnings to Fixed Charges
Years ended December 31 ------------------------------------------------------------------ (Dollars in millions) 2000 1999 1998 1997 1996 ------------- ------------ -------------------------- ------------ Net earnings ....................................$ 4,289 $ 4,208 $ 3,374 $ 2,729 $ 2,632 Provision for income taxes ...................... 1,555 1,553 1,185 997 1,172 Minority interest ............................... 86 68 49 40 86 ------------- ------------ -------------------------- ------------ Earnings before income taxes and minority interest ....................................... 5,930 5,829 4,608 3,766 3,890 ------------- ------------ -------------------------- ------------ Fixed charges: Interest ....................................... 10,763 9,183 8,772 7,440 7,114 One-third of rentals ........................... 381 345 289 240 177 ------------- ------------ -------------------------- ------------ Total fixed charges ............................. 11,144 9,528 9,061 7,680 7,291 ------------- ------------ -------------------------- ------------ Less interest capitalized, net of amortization .. (121) (87) (88) (52) (41) ------------- ------------ -------------------------- ------------ Earnings before income taxes and minority interest plus fixed charges .................... $ 16,953 $ 15,270 $ 13,581 $ 11,394 $ 11,140 ============= ============ ========================== ============ Ratio of earnings to fixed charges .............. 1.52 1.60 1.50 1.48 1.53 ============= ============ ========================== ============