EX-12.A 5 gecc10k2014ex12a.htm

Exhibit 12(a)
                             
General Electric Capital Corporation and consolidated affiliates
Computation of Ratio of Earnings to Fixed Charges
                             
 
Years ended December 31
(Dollars in millions)
  
2014
    
2013
    
2012
    
2011
    
2010
                             
Earnings (loss)(a)
$
7,179
  
$
7,145
  
$
7,606
  
$
7,133
  
$
1,831
Plus:
                            
    Interest included in expense(b)
  
8,397
    
9,267
    
11,596
    
13,760
    
14,403
    One-third of rental expense(c)
  
127
    
143
    
180
    
197
    
206
    Adjusted "earnings"
$
15,703
  
$
16,555
  
$
19,382
  
$
21,090
  
$
16,440
                             
Fixed Charges:
                            
    Interest included in expense(b)
$
8,397
  
$
9,267
  
$
11,596
  
$
13,760
  
$
14,403
    Interest capitalized
  
23
    
27
    
26
    
25
    
39
    One-third of rental expense(c)
  
127
    
143
    
180
    
197
    
206
Total fixed charges
$
8,547
  
$
9,437
  
$
11,802
  
$
13,982
  
$
14,648
                             
Ratio of earnings to fixed charges
  
1.84
    
1.75
    
1.64
    
1.51
    
1.12
                             
(a)
Earnings (loss) before income taxes, noncontrolling interests, discontinued operations and undistributed earnings of equity investees.
(b)
Includes interest on tax deficiencies.
(c)
Considered to be representative of interest factor in rental expense.