EX-12 3 k85109exv12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES exv12
 

Exhibit 12
General Motors Acceptance Corporation

   
Ratio of Earnings to Fixed Charges
                 
Three Months Ended March 31, ($ in millions)
   2004
   2003
Earnings
                
Consolidated net income
   $ 786     $ 699  
Provision for income taxes
     450       438  
Minority interest in consolidated subsidiaries and loss from equity investees
     2       10  
 
    
 		      
 		  
Consolidated income before income taxes, minority interest and loss from equity investees
     1,238       1,147  
Fixed charges
     2,194       1,818  
 
    
 		      
 		  
Earnings available for fixed charges
     3,432       2,965  
Fixed charges
                
Interest, debt, discount and expense
     2,173       1,796  
Portion of rentals representative of the interest factor
     21       22  
 
    
 		      
 		  
Total fixed charges
   $ 2,194     $ 1,818  
Ratio of earnings to fixed charges
     1.56       1.63