Exhibit 99(d) | ||||||||||||||
General Electric Company | ||||||||||||||
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends | ||||||||||||||
Years ended December 31 | ||||||||||||||
(Dollars in millions) | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||
General Electric Company and | ||||||||||||||
consolidated affiliates | ||||||||||||||
Earnings(a) | $ | 15,675 | $ | 14,546 | $ | 15,133 | $ | 20,352 | $ | 16,761 | ||||
Plus: | ||||||||||||||
Interest and other financial charges | ||||||||||||||
included in expense(b) | 9,482 | 10,116 | 12,407 | 14,422 | 15,431 | |||||||||
One-third of rental expense(c) | 473 | 504 | 510 | 462 | 563 | |||||||||
Adjusted "earnings" | $ | 25,630 | $ | 25,166 | $ | 28,050 | $ | 35,236 | $ | 32,755 | ||||
Fixed charges: | ||||||||||||||
Interest and other financial charges | ||||||||||||||
included in expense(b) | $ | 9,482 | $ | 10,116 | $ | 12,407 | $ | 14,422 | $ | 15,431 | ||||
Interest capitalized | 25 | 29 | 28 | 25 | 39 | |||||||||
One-third of rental expense(c) | 473 | 504 | 510 | 462 | 563 | |||||||||
Total fixed charges | $ | 9,980 | $ | 10,649 | $ | 12,945 | $ | 14,909 | $ | 16,033 | ||||
Ratio of earnings to fixed charges | 2.57 | 2.36 | 2.17 | 2.36 | 2.04 | |||||||||
Preferred stock dividend requirements | $ | - | $ | - | $ | - | $ | 1,031 | $ | 300 | ||||
Ratio of earnings before provision for | ||||||||||||||
income taxes to earnings from | ||||||||||||||
continuing operations | 1.14 | 1.08 | 1.22 | 1.42 | 1.18 | |||||||||
Preferred stock dividend factor on pre-tax basis | $ | - | $ | - | $ | - | $ | 1,464 | $ | 354 | ||||
Fixed charges | 9,980 | 10,649 | 12,945 | 14,909 | 16,033 | |||||||||
Total fixed charges and preferred stock | ||||||||||||||
dividend requirements | $ | 9,980 | $ | 10,649 | $ | 12,945 | $ | 16,373 | $ | 16,387 | ||||
Ratio of earnings to combined fixed | ||||||||||||||
charges and preferred stock dividends | 2.57 | 2.36 | 2.17 | 2.15 | 2.00 | |||||||||
(a) | Earnings before income taxes, noncontrolling interests, discontinued operations and undistributed earnings of equity investees. |
(b) | Included interest on tax deficiencies and interest on discontinued operations. |
(c) | Considered to be representative of interest factor in rental expense. |