EX-12.A 3 geccex12a.htm GECC EXHIBIT 12 (A) geccex12a.htm
Exhibit 12(a)

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


 
Year ended December 31
  
(Dollars in millions)
2007
  
2006
  
2005
  
2004
  
2003
  
                               
General Electric Capital Corporation
                              
and consolidated affiliates
                              
Earnings(a)
$
12,900
  
$
11,564
  
$
9,625
  
$
9,321
  
$
7,315
  
Plus
                              
Interest included in expense(b)
  
22,612
    
17,705
    
13,911
    
10,910
    
9,761
  
One-third of rental expense(c)
  
340
    
308
    
303
    
282
    
249
  
Adjusted “earnings”
$
35,852
  
$
29,577
  
$
23,839
  
$
20,513
  
$
17,325
  
                               
Fixed Charges:
                              
Interest included in expense(b)
$
22,612
  
$
17,705
  
$
13,911
  
$
10,910
  
$
9,761
  
Interest capitalized
  
80
    
77
    
72
    
37
    
23
  
One-third of rental expense(c)
  
340
    
308
    
303
    
282
    
249
  
Total fixed charges
$
23,032
  
$
18,090
  
$
14,286
  
$
11,229
  
$
10,033
  
                               
Ratio of earnings to fixed charges
  
1.56
    
1.63
    
1.67
    
1.83
    
1.73
  
                               

(a)
Earnings before income taxes, minority interest and discontinued operations.
  
(b)
Included interest on tax deficiencies.
  
(c)
Considered to be representative of interest factor in rental expense.