EX-12 2 geccex1263009.htm GECC EX-12 6-30-09 geccex1263009.htm
Exhibit 12
 

General Electric Capital Corporation and consolidated affiliates
 
Computation of Ratio of Earnings to Fixed Charges
 
Six months ended June 30, 2009
 
(Unaudited)
 

 
 
Ratio of
earnings to
fixed charges
    
 
(Dollars in millions)
      
         
 
Earnings(a)
$
(585
)
 
Plus:
      
 
Interest included in expense(b)
  
9,526
  
 
One-third of rental expense(c)
  
143
  
 
Adjusted “earnings”(d)
$
9,084
  
         
 
Fixed charges:
      
 
Interest included in expense(b)
$
9,526
  
 
Interest capitalized
  
21
  
 
One-third of rental expense(c)
  
143
  
 
Total fixed charges
$
9,690
  
         
 
Ratio of earnings to fixed charges
  
0.94
  
         

(a)
Earnings before income taxes, noncontrolling interests, discontinued operations and undistributed earnings of equity investees.
(b)
Included interest on tax deficiencies.
(c)
Considered to be representative of interest factor in rental expense.
(d)
As of June 30, 2009, the amount of earnings needed to achieve a one-to-one ratio of earnings to fixed charges was $606 million.