| Exhibit 12 | ||||
| General Electric Company Ratio of Earnings to Fixed Charges | ||||
| (Dollars in millions) | Nine months ended September 30, 2002 | |||
| GE except GECS | ||||
| Earnings (a) | $ | 15,294 | ||
| Less: | Equity in undistributed earnings of General Electric | |||
| Capital Services, Inc. (b) | (3,025) | |||
| Plus: | Interest and other financial | |||
| charges included in expense | 444 | |||
| One-third of rental expense (c) | 174 | |||
| Adjusted "earnings" | $ | 12,887 | ||
| Fixed Charges: | ||||
| Interest and other financial charges | $ | 444 | ||
| Interest capitalized | 11 | |||
| One-third of rental expense (c) | 174 | |||
| Total fixed charges | $ | 629 | ||
| Ratio of earnings to fixed charges | 20.49 | |||
| General Electric Company and consolidated affiliates | ||||
| Earnings (a) | $ | 16,128 | ||
| Plus: | Interest and other financial charges | |||
| included in expense | 7,670 | |||
| One-third of rental expense (c) | 416 | |||
| Adjusted "earnings" | $ | 24,214 | ||
| Fixed Charges: | ||||
| Interest and other financial charges | $ | 7,670 | ||
| Interest capitalized | 40 | |||
| One-third of rental expense (c) | 416 | |||
| Total fixed charges | $ | 8,126 | ||
| Ratio of earnings to fixed charges | 2.98 | |||
| (a) | Earnings before income taxes, minority interest and accounting changes. | |||
| (b) | Earnings after income taxes, net of dividends, and before accounting changes. | |||
| (c) | Considered to be representative of interest factor in rental expense. | |||
General Electric (GE)
Filed: 29 Oct 02, 12:00am