EX-12 3 ex12.htm ex12.htm
Exhibit 12

General Electric Company
Ratio of Earnings to Fixed Charges


 
Years ended December 31
  
 (Dollars in millions)
2007
  
2006
  
2005
  
2004
  
2003
  
                               
General Electric Company and consolidated affiliates
                              
Earnings(a)
$
27,514
  
$
24,192
  
$
22,094
  
$
19,929
  
$
17,446
  
Plus:
Interest and other financial charges
included in expense(b)
  
24,127
    
19,121
    
14,900
    
11,534
    
10,357
  
 
One-third of rental expense(c)
  
651
    
594
    
591
    
549
    
475
  
                               
Adjusted “earnings”
$
52,292
  
$
43,907
  
$
37,585
  
$
32,012
  
$
28,278
  
                               
Fixed charges:
                              
 
Interest and other financial charges(b)
$
24,127
  
$
19,121
  
$
14,900
  
$
11,534
  
$
10,357
  
 
Interest capitalized
  
93
    
71
    
75
    
39
    
24
  
 
One-third of rental expense(c)
  
651
    
594
    
591
    
549
    
475
  
                               
Total fixed charges
$
24,871
  
$
19,786
  
$
15,566
  
$
12,122
  
$
10,856
  
                               
Ratio of earnings to fixed charges
  
2.10
    
2.22
    
2.41
    
2.64
    
2.60
  
                               

(a)
 
Earnings before income taxes, minority interest, discontinued operations and cumulative effect of accounting changes.
 
(b)
Included interest on tax deficiencies.
(c)
Considered to be representative of interest factor in rental expense.