Exhibit 12(b)
General Electric Company
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
| Years ended December 31 | ||||||||||||||
| (Dollars in millions) | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||
| General Electric Company and | ||||||||||||||
consolidated affiliates | ||||||||||||||
| Earnings(a) | $ | 10,096 | $ | 19,782 | $ | 27,528 | $ | 24,150 | $ | 22,024 | ||||
| Plus: | ||||||||||||||
Interest and other financial charges | ||||||||||||||
included in expense(b) | 18,770 | 26,295 | 24,103 | 19,104 | 14,884 | |||||||||
One-third of rental expense(c) | 610 | 477 | 648 | 592 | 589 | |||||||||
| Adjusted “earnings” | $ | 29,476 | $ | 46,554 | $ | 52,279 | $ | 43,846 | $ | 37,497 | ||||
| Fixed charges: | ||||||||||||||
Interest and other financial charges | ||||||||||||||
included in expense(b) | $ | 18,770 | $ | 26,295 | $ | 24,103 | $ | 19,104 | $ | 14,884 | ||||
Interest capitalized | 42 | 73 | 93 | 71 | 75 | |||||||||
One-third of rental expense(c) | 610 | 477 | 648 | �� | 592 | 589 | ||||||||
| Total fixed charges | $ | 19,422 | $ | 26,845 | $ | 24,844 | $ | 19,767 | $ | 15,548 | ||||
| Ratio of earnings to fixed charges | 1.52 | 1.73 | 2.10 | 2.22 | 2.41 | |||||||||
| Preferred stock dividend requirements | $ | 300 | $ | 75 | $ | – | $ | – | $ | – | ||||
| Ratio of earnings before provision for | ||||||||||||||
income taxes to earnings from | ||||||||||||||
continuing operations | 0.91 | 1.06 | 1.18 | 1.20 | 1.21 | |||||||||
| Preferred stock dividend factor on | ||||||||||||||
pre-tax basis | 273 | 80 | – | – | – | |||||||||
| Fixed charges | 19,422 | 26,845 | 24,844 | 19,767 | 15,548 | |||||||||
| Total fixed charges and preferred stock | ||||||||||||||
dividend requirements | $ | 19,695 | $ | 26,925 | $ | 24,844 | $ | 19,767 | $ | 15,548 | ||||
| Ratio of earnings to combined fixed | ||||||||||||||
charges and preferred stock dividends | 1.50 | 1.73 | 2.10 | 2.22 | 2.41 | |||||||||
| (a) | Earnings 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. |