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, ----------------------------------------------- 2003 2002 2001 2000 1999 ---- ---- ---- ---- ---- (dollars in millions) Income from continuing operations $2,862 $1,975 $1,222 $3,639 $5,867 Income tax expense 731 644 1,094 1,816 3,312 (Income)/losses of and dividends from nonconsolidated associates and minority interest (364) (135) 172 261 218 Amortization of capitalized interest 79 73 73 69 66 ----- ----- ----- ----- ----- Income from continuing operations before income taxes, undistributed income of nonconsolidated associates, and capitalized interest 3,308 2,557 2,561 5,785 9,463 ----- ----- ----- ----- ----- Fixed charges included in income from continuing operations Interest and related charges on debt 9,522 8,115 8,496 9,257 7,519 Portion of rentals deemed to be interest 269 289 293 455 256 ----- ----- ----- ----- ----- Total fixed charges included in income from continuing operations 9,791 8,404 8,789 9,712 7,775 ----- ----- ----- ----- ----- Earnings available for fixed charges $13,099 $10,961 $11,350 $15,497 $17,238 ====== ====== ====== ====== ====== Fixed charges Fixed charges included in income from continuing operations $9,791 $8,404 $8,789 $9,712 $7,775 Interest capitalized in the period 33 74 94 54 30 ----- ----- ----- ----- ----- Total fixed charges $9,824 $8,478 $8,883 $9,766 $7,805 ===== ===== ===== ===== ===== Ratio of earnings to fixed charges 1.33 1.29 1.28 1.59 2.21 ==== ==== ==== ==== ====