EX-12 6 gm1bcangmex12.txt RATIO OF EARNINGS EXHIBIT 12 GENERAL MOTORS CORPORATION AND SUBSIDIARIES COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Years Ended December 31, --------------------------------------- 2000 1999 1998 1997 1996 ------ ------ ------ ------ ------ (dollars in millions) Income from continuing operations $4,452 $5,576 $3,049 $6,483 $4,100 Income taxes 2,393 3,118 1,636 1,025 1,464 Losses (earnings) of nonconsolidated associates 332 325 239 105 (71) Minority interests (13) 28 20 (44) (53) Amortization of capitalized interest 69 66 68 56 54 ----- ----- ----- ----- ----- Income from continuing operations before income taxes, undistributed income of associates, and capitalized interest 7,233 9,113 5,012 7,625 5,494 ----- ----- ----- ----- ----- Fixed charges included in income from continuing operations Interest and related charges on debt 9,475 7,642 6,441 5,742 5,411 Portion of rentals deemed to be interest 341 284 251 264 229 ----- ----- ----- ----- ----- Total fixed charges included in income from continuing operations 9,816 7,926 6,692 6,006 5,640 ----- ----- ----- ----- ----- Earnings available for fixed charges $17,049 $17,039 $11,704 $13,631 $11,134 ====== ====== ====== ====== ====== Fixed charges Fixed charges included in income from continuing operations $9,816 $7,926 $6,692 $6,006 $5,640 Interest capitalized in the period 137 95 110 126 49 ----- ----- ----- ----- ----- Total fixed charges $9,953 $8,021 $6,802 $6,132 $5,689 ===== ===== ===== ===== ===== Ratios of earnings to fixed charges 1.71 2.12 1.72 2.22 1.96 ==== ==== ==== ==== ==== GENERAL MOTORS CORPORATION AND SUBSIDIARIES COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Six Months Ended June 30, ----------------------------- 2001 2000 ------ ------ (dollars in millions) Income from continuing operations $714 $3,534 Income taxes 512 1,712 Losses (earnings) of nonconsolidated associates 208 225 Minority interests (5) (4) Amortization of capitalized interest 37 36 ----- ----- Income from continuing operations before income taxes, undistributed income of associates, and capitalized interest 1,466 5,503 ----- ----- Fixed charges included in income from continuing operations Interest and related charges on debt 4,559 4,526 Portion of rentals deemed to be interest 161 254 ----- ----- Total fixed charges included in income from continuing operations 4,720 4,780 ----- ----- Earnings available for fixed charges $6,186 $10,283 ===== ====== Fixed charges Fixed charges included in income from continuing operations $4,720 $4,780 Interest capitalized in the period 79 66 ----- ----- Total fixed charges $4,799 $4,846 ===== ===== Ratios of earnings to fixed charges 1.29 2.12 ==== ====