EX-12 3 ex12.htm EXHIBIT 12 Exhibit 12

Exhibit 12

General Electric Company
Ratio of Earnings to Fixed Charges

 

  

(Dollars in millions)

First quarter ended
March 31, 2004
 

General Electric Company and consolidated affiliates

      

Earnings (a)

$

4,291

Plus:

Interest and other financial charges included in expense

  

2,660

  
 

One-third of rental expense (b)

  

135

  

 

  

 

Adjusted "earnings"

$

7,086

  

 

  

 

Fixed Charges:

      

 

Interest and other financial charges

$

2,660

  

 

Interest capitalized

  

32

  

 

One-third of rental expense (b)

  

135

  

 

  

 

Total fixed charges

$

2,827

  

 

  

 

Ratio of earnings to fixed charges

 

2.51

  

 

 

(a) Earnings before income taxes, minority interest and accounting changes.
(b) Considered to be representative of interest factor in rental expense.