EX-12 6 gecc2001ex12b.txt
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 ----------------------------------------------------------------- (In millions) 2001 2000 1999 1998 1997 ------------ ----------- ------------ ------------ ----------- Net earnings .................................... $ 5,902 $ 4,289 $ 4,208 $ 3,374 $ 2,729 Provision for income taxes ...................... 1,734 1,555 1,553 1,185 997 Minority interest ............................... 84 86 68 49 40 ------------ ----------- ------------ ------------ ----------- Earnings before income taxes and minority interest ....................................... 7,720 5,930 5,829 4,608 3,766 ------------ ----------- ------------ ------------ ----------- Fixed charges: Interest ...................................... 10,261 10,763 9,183 8,772 7,440 One-third of rentals .......................... 324 381 345 289 240 ------------ ----------- ------------ ------------ ----------- Total fixed charges ............................. 10,585 11,144 9,528 9,061 7,680 Less interest capitalized, net of amortization .. (88) (121) (87) (88) (52) ------------ ----------- ------------ ------------ ----------- Earnings before income taxes and minority interest plus fixed charges .................... $ 18,217 $ 16,953 $ 15,270 $ 13,581 $ 11,394 ============ =========== ============ ============ =========== Preferred stock dividend requirements ........... $ 80 $ 126 $ 115 $ 97 $ 78 Ratio of earnings before provision for income taxes to net earnings .......................... 1.29 1.36 1.37 1.35 1.37 ------------ ----------- ------------ ------------ ----------- Preferred stock dividend factor on pre-tax basis 103 171 157 131 107 Fixed charges ................................... 10,585 11,144 9,528 9,061 7,680 ------------ ----------- ------------ ------------ ----------- Total fixed charges and preferred stock dividend requirements ................................... $ 10,688 $ 11,315 $ 9,685 $ 9,192 $ 7,787 ============ =========== ============ ============ =========== Ratio of earnings to combined fixed charges and preferred stock dividends ...................... 1.70 1.50 1.58 1.48 1.46 ============ =========== ============ ============ ===========