EX-12 3 exhibit12aamend1.txt RATIO OF EARNINGS EXHIBIT 12(a) GENERAL MOTORS CORPORATION AND SUBSIDIARIES COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Years Ended December 31, --------------------------------------------------- 2002 2001 2000 1999 1998 ---- ---- ---- ---- ---- (dollars in millions) Income from continuing operations $1,736 $601 $4,452 $5,576 $3,049 Income taxes 533 768 2,393 3,118 1,636 (Income)/losses of and dividends from nonconsolidated associates (43) 183 350 375 337 Amortization of capitalized interest 73 73 69 66 68 ----- ----- ----- ----- ----- Income from continuing operations before income taxes, undistributed income of nonconsolidated associates, and capitalized interest 2,299 1,625 7,264 9,135 5,090 ----- ----- ----- ----- ----- Fixed charges included in income from continuing operations Interest and related charges on debt 8,327 8,770 9,475 7,642 6,441 Portion of rentals deemed to be interest 318 330 341 284 251 ----- ----- ----- ----- ----- Total fixed charges included in income from continuing operations 8,645 9,100 9,816 7,926 6,692 ----- ----- ----- ----- ----- Earnings available for fixed charges $10,944 $10,725 $17,080 $17,061 $11,782 ====== ====== ====== ====== ====== Fixed charges Fixed charges included in income from continuing operations $8,645 $9,100 $9,816 $7,926 $6,692 Interest capitalized in the period 191 171 137 95 110 ----- ----- ----- ----- ----- Total fixed charges $8,836 $9,271 $9,953 $8,021 $6,802 ====== ====== ====== ====== ====== Ratio of earnings to fixed charges 1.24 1.16 1.72 2.13 1.73 ====== ====== ====== ====== ======