EX-12 3 exhibit1210k-030601.txt COMPUTATION OF RATIOS EXHIBIT 12 GENERAL MOTORS CORPORATION AND SUBSIDIARIES COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Years Ended December 31, ---------------------------------- 2000 1999 1998 ---------- ---------- ---------- (dollars in millions) Income from continuing operations $4,452 $5,576 $3,049 Income taxes 2,393 3,118 1,636 Losses of nonconsolidated associates 332 325 239 Minority interests (13) 28 20 Amortization of capitalized interest 69 66 68 ------- ------- ------- Income from continuing operations before income taxes, undistributed income of associates, and capitalized interest 7,233 9,113 5,012 ----- ----- ----- Fixed charges included in income from continuing operations Interest and related charges on debt 9,475 7,642 6,441 Portion of rentals deemed to be interest 341 284 251 ------ ------ ------ Total fixed charges included in income from continuing operations 9,816 7,926 6,692 ----- ----- ----- Earnings available for fixed charges $17,049 $17,039 $11,704 ====== ====== ====== Fixed charges Fixed charges included in income from continuing operations $9,816 $7,926 $6,692 Interest capitalized in the period 137 95 110 ----- ----- ----- Total fixed charges $9,953 $8,021 $6,802 ===== ===== ===== Ratios of earnings to fixed charges 1.71 2.12 1.72 ==== ==== ==== IV-11