EX-12.B 5 geccexhibit12b.htm GECC EXHIBIT 12(B) geccexhibit12b.htm
Exhibit 12(b)

General Electric Capital Corporation and consolidated affiliates
 
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year ended December 31
(Dollars in millions)
2009
 
2008
 
2007
 
2006
 
2005
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings (loss)(a)
$
(2,654)
 
$
5,991 
 
$
12,914 
 
$
11,522 
 
$
9,555 
Plus:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    Interest included in expense(b)
 
17,863 
 
 
24,943 
 
 
22,588 
 
 
17,688 
 
 
13,895 
    One-third of rental expense(c)
 
272 
 
 
172 
 
 
337 
 
 
307 
 
 
301 
    Adjusted "earnings"(d)
$
15,481 
 
$
31,106 
 
$
35,839 
 
$
29,517 
 
$
23,751 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    Interest included in expense(b)
$
17,863 
 
$
24,943 
 
$
22,588 
 
$
17,688 
 
$
13,895 
    Interest capitalized
 
39 
 
 
65 
 
 
80 
 
 
77 
 
 
72 
    One-third of rental expense(c)
 
272 
 
 
172 
 
 
337 
 
 
307 
 
 
301 
Total fixed charges
$
18,174 
 
$
25,180 
 
$
23,005 
 
$
18,072 
 
$
14,268 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
0.85 
 
 
1.24 
 
 
1.56 
 
 
1.63 
 
 
1.66 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Preferred stock dividend requirements
$
– 
 
$
– 
 
$
– 
 
$
3 
 
$
56 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings before provision for
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    income taxes to earnings from
 
 
 
 
 
 
 
 
 
 
 
 
 
 
      continuing operations
 
 (1.37)
 
 
0.73 
 
 
1.06 
 
 
1.11 
 
 
1.11 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Preferred stock dividend factor on
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    pre-tax basis
 
– 
 
 
– 
 
 
– 
 
 
3 
 
 
62 
Fixed charges
 
18,174 
 
 
25,180 
 
 
23,005 
 
 
18,072 
 
 
14,268 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total fixed charges and preferred
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    stock dividend requirements
$
18,174 
 
$
25,180 
 
$
23,005 
 
$
18,075 
 
$
14,330 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to combined fixed
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    charges and preferred stock dividends
 
 0.85 
 
 
1.24 
 
 
1.56 
 
 
1.63 
 
 
1.66 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)  
Earnings (loss) 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)  
In accordance with Item 503 of SEC Regulation S-K, we are required to disclose the amount of earnings needed to achieve a one-to-one ratio of earnings to fixed charges. As of December 31, 2009, this amount was $2,693 million.