Exhibit 12
General Electric Company
Ratio of Earnings to Fixed Charges
Years ended December 31 | |||||||||||||||||||||||||||||||
2005 | 2004 | 2003 | 2002 | 2001 | |||||||||||||||||||||||||||
(Dollars in millions) | As previously reported | As restated | As previously reported | As restated | As previously reported | As restated | As previously reported | As restated | As previously reported | As restated | |||||||||||||||||||||
General Electric Company and consolidated affiliates | |||||||||||||||||||||||||||||||
Earnings(a) | $ | 23,115 | $ | 23,704 | $ | 20,499 | 21,062 | $ | 17,919 | $ | 18,455 | $ | 20,662 | $ | 18,735 | $ | 18,472 | $ | 17,935 | ||||||||||||
Plus: | Interest and other financial charges included in expense | 15,276 | 15,227 | 11,721 | 11,676 | 10,542 | 10,541 | 9,883 | 9,921 | 10,775 | 10,808 | ||||||||||||||||||||
One-third of rental expense(b) | 644 | 644 | 601 | 601 | 520 | 520 | 558 | 558 | 538 | 538 | |||||||||||||||||||||
Adjusted “earnings” | $ | 39,035 | $ | 39,575 | $ | 32,821 | $ | 33,339 | $ | 28,981 | $ | 29,516 | $ | 31,103 | $ | 29,214 | $ | 29,785 | $ | 29,281 | |||||||||||
Fixed charges: | |||||||||||||||||||||||||||||||
Interest and other financial charges | $ | 15,276 | $ | 15,227 | $ | 11,721 | $ | 11,676 | $ | 10,542 | $ | 10,541 | $ | 9,883 | $ | 9,921 | $ | 10,775 | $ | 10,808 | |||||||||||
Interest capitalized | 108 | 108 | 92 | 92 | 48 | 48 | 53 | 53 | 98 | 98 | |||||||||||||||||||||
One-third of rental expense | 644 | 644 | 601 | 601 | 520 | 520 | 558 | 558 | 538 | 538 | |||||||||||||||||||||
Total fixed charges | $ | 16,028 | $ | 15,979 | $ | 12,414 | $ | 12,369 | $ | 11,110 | $ | 11,109 | $ | 10,494 | $ | 10,532 | $ | 11,411 | $ | 11,444 | |||||||||||
Ratio of earnings to fixed charges | 2.44 | 2.48 | 2.64 | 2.70 | 2.61 | 2.66 | 2.96 | 2.77 | 2.61 | 2.56 | |||||||||||||||||||||
(a) | Earnings before income taxes, minority interest, discontinued operations and cumulative effect of accounting changes. |
(b) | Considered to be representative of interest factor in rental expense. |