EX-12 4 ex12b-gecc.txt RATIO OF EARNINGS TO COMBINED FIXED CHARGES Exhibit 12 (b) GENERAL ELECTRIC CAPITAL CORPORATION AND CONSOLIDATED AFFILIATES
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends 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 ============ =========== ============ ============ =========== Preferred stock dividend requirements ........... $ 126 $ 115 $ 97 $ 78 $ 76 Ratio of earnings before provision for income taxes to net earnings .......................... 1.36 1.37 1.35 1.37 1.45 ------------ ----------- ------------ ------------ ----------- Preferred stock dividend factor on pre-tax basis 171 157 131 107 110 Fixed charges ................................... 11,144 9,528 9,061 7,680 7,291 ------------ ----------- ------------ ------------ ----------- Total fixed charges and preferred stock dividend requirements ................................... $ 11,315 $ 9,685 $ 9,192 $ 7,787 $ 7,401 ============ =========== ============ ============ =========== Ratio of earnings to combined fixed charges and preferred stock dividends ...................... 1.50 1.58 1.48 1.46 1.51 ============ =========== ============ ============ ===========