EX-12.A 2 geccex12adec312005.htm GECC EX 12A DEC 31 2005 GECC Ex 12a Dec 31 2005
Exhibit 12(a)

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

 
Year ended December 31
 
 
2005
 
2004
 
2003
 
2002
 
2001
 
(Dollars in millions)
As
previously
reported
 
 
As
restated
 
As
previously
reported
 
 
As
restated
 
As
previously
reported
 
 
As
restated
 
As
previously
reported
 
 
As
restated
 
As
previously
reported
 
 
As
restated
 
                                                             
Earnings from continuing
                                                           
operations
$
8,666
 
$
8,998
 
$
7,818
 
$
8,148
 
$
6,070
 
$
6,388
 
$
5,339
 
$
4,235
 
$
4,716
 
$
4,419
 
Provisions for income taxes
 
940
   
1,157
   
1,410
   
1,626
   
1,103
   
1,311
   
652
   
(71
)
 
1,093
   
900
 
Minority interest
 
155
   
155
   
159
   
159
   
82
   
82
   
89
   
89
   
78
   
78
 
Earnings from continuing
                                                           
operations before income
                                                           
taxes and minority interest
 
9,761
   
10,310
   
9,387
   
9,933
   
7,255
   
7,781
   
6,080
   
4,253
   
5,887
   
5,397
 
                                                             
Fixed Charges:
                                                           
Interest
 
14,252
   
14,198
   
11,062
   
11,012
   
9,846
   
9,838
   
9,391
   
9,422
   
9,998
   
10,027
 
One-third of rentals(a)
 
330
   
330
   
308
   
308
   
275
   
275
   
300
   
300
   
307
   
307
 
Total fixed charges
 
14,582
   
14,528
   
11,370
   
11,320
   
10,121
   
10,113
   
9,691
   
9,722
   
10,305
   
10,334
 
Less interest capitalized,
                                                           
net of amortization
 
(72
)
 
(72
)
 
(37
)
 
(37
)
 
(23
)
 
(23
)
 
(38
)
 
(38
)
 
(88
)
 
(88
)
                                                             
Earnings from continuing
                                                           
operations before income
                                                           
taxes and minority interest
                                                           
plus fixed charges
$
24,271
 
$
24,766
 
$
20,720
 
$
21,216
 
$
17,353
 
$
17,871
 
$
15,733
 
$
13,937
 
$
16,104
 
$
15,643
 
                                                             
Ratio of earnings to fixed
                                                           
charges
 
1.66
   
1.70
   
1.82
   
1.87
   
1.71
   
1.77
   
1.62
   
1.43
   
1.56
   
1.51
 
                                                             

(a)
Considered to be representative of interest factor in rental expense.