EX-12.A 3 geccexhibit12a.htm GECC EXHIBIT 12(A) geccexhibit12a.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)
2008
  
2007
  
2006
  
2005
  
2004
  
                               
General Electric Capital Corporation
                              
and consolidated affiliates
                              
Earnings(a)
$
5,991
  
$
12,914
  
$
11,522
  
$
9,555
  
$
9,219
  
Plus
                              
Interest included in expense(b)
  
24,943
    
22,588
    
17,688
    
13,895
    
10,907
  
One-third of rental expense(c)
  
172
    
337
    
307
    
301
    
279
  
Adjusted “earnings”
$
31,106
  
$
35,839
  
$
29,517
  
$
23,751
  
$
20,405
  
                               
Fixed Charges:
                              
Interest included in expense(b)
$
24,943
  
$
22,588
  
$
17,688
  
$
13,895
  
$
10,907
  
Interest capitalized
  
65
    
80
    
77
    
72
    
37
  
One-third of rental expense(c)
  
172
    
337
    
307
    
301
    
279
  
Total fixed charges
$
25,180
  
$
23,005
  
$
18,072
  
$
14,268
  
$
11,223
  
                               
Ratio of earnings to fixed charges
  
1.24
    
1.56
    
1.63
    
1.66
    
1.82
  
                               

(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.
  

 
(1)