EX-12.A 4 geccexhibit12a.htm GECC EXHIBIT 12(A) geccexhibit12a.htm
Exhibit 12(a)


General Electric Capital Corporation and consolidated affiliates
 
Computation of Ratio of Earnings to Combined Fixed Charges


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year ended December 31
(Dollars in millions)
2009
 
2008
 
2007
 
2006
 
2005
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings (loss)(a)
$
(2,654)
 
$
5,991 
 
$
12,914 
 
$
11,522 
 
$
9,555 
Plus:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    Interest included in expense(b)
 
17,863 
 
 
24,943 
 
 
22,588 
 
 
17,688 
 
 
13,895 
    One-third of rental expense(c)
 
272 
 
 
172 
 
 
337 
 
 
307 
 
 
301 
    Adjusted "earnings"(d)
$
15,481 
 
$
31,106 
 
$
35,839 
 
$
29,517 
 
$
23,751 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    Interest included in expense(b)
$
17,863 
 
$
24,943 
 
$
22,588 
 
$
17,688 
 
$
13,895 
    Interest capitalized
 
39 
 
 
65 
 
 
80 
 
 
77 
 
 
72 
    One-third of rental expense(c)
 
272 
 
 
172 
 
 
337 
 
 
307 
 
 
301 
Total fixed charges
$
18,174 
 
$
25,180 
 
$
23,005 
 
$
18,072 
 
$
14,268 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
 0.85 
 
 
1.24 
 
 
1.56 
 
 
1.63 
 
 
1.66 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)  
Earnings (loss) 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.
 
(d)  
In accordance with Item 503 of SEC Regulation S-K, we are required to disclose the amount of earnings needed to achieve a one-to-one ratio of earnings to fixed charges. As of December 31, 2009, this amount was $2,693 million.