EX-12.A 5 exhibit12a.htm EXHIBIT 12(A) exhibit12a.htm
 
Exhibit 12(a)
General Electric Company
Computation of Ratio of Earnings to Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years ended December 31
(Dollars in millions)
 
2013 
 
 
2012 
 
 
2011 
 
 
2010 
 
 
2009 
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
General Electric Company and
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   consolidated affiliates
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings(a)
$
15,976 
 
$
15,396 
 
$
18,794 
 
$
14,078 
 
$
9,696 
Plus:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   Interest and other financial charges
 
 
 
 
 
 
 
 
 
 
 
 
 
 
      included in expense(b)
 
10,116 
 
 
12,407 
 
 
14,422 
 
 
15,431 
 
 
17,516 
   One-third of rental expense(c)
 
504 
 
 
510 
 
 
462 
 
 
563 
 
 
595 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Adjusted “earnings”
$
26,597 
 
$
28,313 
 
$
33,677 
 
$
30,072 
 
$
27,807 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   Interest and other financial charges
 
 
 
 
 
 
 
 
 
 
 
 
 
 
      included in expense(b)
$
10,116 
 
$
12,407 
 
$
14,422 
 
$
15,431 
 
$
17,516 
   Interest capitalized
 
29 
 
 
28 
 
 
25 
 
 
39 
 
 
42 
   One-third of rental expense(c)
 
504 
 
 
510 
 
 
462 
 
 
563 
 
 
595 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total fixed charges
$
10,649 
 
$
12,945 
 
$
14,908 
 
$
16,033 
 
$
18,153 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
2.50 
 
 
2.19 
 
 
2.26 
 
 
1.88 
 
 
1.53 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Earnings 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.