EX-12.B 5 ge10k2014ex12b.htm

Exhibit 12(b)
                             
General Electric Company
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
                             
 
Years ended December 31
(Dollars in millions)
  
2014
    
2013
    
2012
    
2011
    
2010
     
   
    
   
    
   
    
   
    
General Electric Company and
                            
   consolidated affiliates
                            
Earnings(a)
$
 16,604
  
$
 15,968
  
$
 15,566
  
$
 18,929
  
$
 13,965
Plus:
                            
   Interest and other financial charges
                            
      included in expense(b)
  
 9,482
    
 10,116
    
 12,407
    
 14,422
    
 15,431
   One-third of rental expense(c)
  
 473
    
 504
    
 510
    
 462
    
 563
                             
Adjusted "earnings"
$
 26,559
  
$
 26,588
  
$
 28,483
  
$
 33,813
  
$
 29,959
                             
Fixed charges:
                            
   Interest and other financial charges
                            
      included in expense(b)
$
 9,482
  
$
 10,116
  
$
 12,407
  
$
 14,422
  
$
 15,431
   Interest capitalized
  
 25
    
 29
    
 28
    
 25
    
 39
   One-third of rental expense(c)
  
 473
    
 504
    
 510
    
 462
    
 563
                             
Total fixed charges
$
 9,980
  
$
 10,649
  
$
 12,945
  
$
 14,909
  
$
 16,033
                             
Ratio of earnings to fixed charges
  
 2.66
    
 2.50
    
 2.20
    
 2.27
    
 1.87
                             
Preferred stock dividend requirements
$
 -
  
$
 -
  
$
 -
  
$
 1,031
  
$
 300
                             
Ratio of earnings before provision for
                            
   income taxes to earnings from
                            
   continuing operations
  
 1.11
    
 1.04
    
 1.17
    
 1.40
    
 1.08
                             
Preferred stock dividend factor on pre-tax basis
$
 -
  
$
 -
  
$
 -
  
$
 1,443
  
$
 325
Fixed charges
  
 9,980
    
 10,649
    
 12,945
    
 14,909
    
 16,033
                             
Total fixed charges and preferred stock
                            
   dividend requirements
$
 9,980
  
$
 10,649
  
$
 12,945
  
$
 16,352
  
$
 16,358
                             
Ratio of earnings to combined fixed
                            
   charges and preferred stock dividends
  
 2.66
    
 2.50
    
 2.20
    
 2.07
    
 1.83
                             
(a) Earnings before income taxes, noncontrolling interests, discontinued operations and undistributed earnings of equity investees.
(b) Included interest on tax deficiencies.

(c) Considered to be representative of interest factor in rental expense.