EX-12 2 geccexhibit12.htm GECC EXHIBIT 12 03-31-10 geccexhibit12.htm
Exhibit 12


General Electric Capital Corporation and consolidated affiliates
 
Computation of Ratio of Earnings to Fixed Charges
 
Three months ended March 31, 2010
 
(Unaudited)
 

   
   
     
 
Ratio of
 
earnings to
 
fixed charges
(Dollars in millions)
    
     
Earnings(a)
$
(81)
Plus:
    
   Interest included in expense(b)
  
3,929 
   One-third of rental expense(c)
  
58 
Adjusted “earnings”(d)
$
3,906 
     
Fixed Charges:
    
  Interest included in expense(b)
$
3,929 
  Interest capitalized
  
10 
  One-third of rental expense(c)
  
58 
Total fixed charges
$
3,997 
     
Ratio of earnings to fixed charges
  
0.98 
     
     
(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)  
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 March 31, 2010, this amount was $91 million.