General Electric (GE) 10-Q 2003 Q1 Quarterly report

		Exhibit 12
General Electric Company Ratio of Earnings to Fixed Charges
(Dollars in millions)		Three months ended March 31, 2003
GE except GECS
Earnings (a)			$	3,961
Less:	Equity in undistributed earnings of General Electric
	Capital Services, Inc. (b)			(1,501

)

Plus:Interest and other financial charges included in expense 208  One-third of rental expense ^(c) 64    Adjusted "earnings"$2,732    Fixed Charges:    Interest and other financial charges$208  Interest capitalized 5  One-third of rental expense ^(c) 64    Total fixed charges$277    Ratio of earnings to fixed charges 9.86    General Electric Company and consolidated affiliates   Earnings ^(a)$4,319Plus:Interest and other financial charges included in expense 2,618  One-third of rental expense ^(c) 140    Adjusted "earnings"$7,077    Fixed Charges:    Interest and other financial charges$2,618  Interest capitalized 13  One-third of rental expense ^(c) 140    Total fixed charges$2,771    Ratio of earnings to fixed charges 2.55   ^(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.