Exhibit 12
GENERAL ELECTRIC COMPANY
RATIO OF EARNINGS TO FIXED CHARGES
Year ended December 31
(Dollars in millions) -----------------------------------------------
1989 1990 1991 1992 1993
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GE except GECS
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"Earnings" /1/ $ 4,848 $ 5,225 $ 5,383 $ 5,750 $ 5,751
Less: Equity in undistributed earnings
of General Electric Capital
Services, Inc. /2/ (927) (744) (925) (999) (1,197)
Plus: Interest and other financial
charges included in expense 738 962 893 768 525
One-third of rental expense /3/ 201 207 225 228 212
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Adjusted "earnings" $ 4,860 $ 5,650 $ 5,576 $ 5,747 $ 5,291
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Fixed Charges:
Interest and other financial charges $ 738 $ 962 $ 893 $ 768 $ 525
Interest capitalized 34 26 33 29 21
One-third of rental expense /3/ 201 207 225 228 212
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Total fixed charges $ 973 $ 1,195 $ 1,151 $ 1,025 $ 758
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Ratio of earnings to fixed charges 4.99 4.73 4.84 5.61 6.98
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General Electric Company and consolidated
affiliates
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"Earnings" /1/ $ 5,105 $ 5,567 $ 5,798 $ 6,326 $ 6,726
Plus: Interest and other financial
charges included in expense 6,763 7,498 7,455 6,908 7,031
One-third of rental expense /3/ 246 260 281 338 378
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Adjusted "earnings" $12,114 $13,325 $13,534 $13,572 $14,135
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Fixed Charges:
Interest and other financial charges $ 6,763 $ 7,498 $ 7,455 $ 6,908 $ 7,031
Interest capitalized 47 46 41 35 26
One-third of rental expense /3/ 246 260 281 338 378
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Total fixed charges $ 7,056 $ 7,804 $ 7,777 $ 7,281 $ 7,435
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Ratio of earnings to fixed charges 1.72 1.71 1.74 1.86 1.90
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<FN>
/1/ Earnings for all years consist of earnings from continuing operations before income taxes and
minority interest. For 1991 and 1993, earnings are before cumulative effects of changes in
accounting principle.
/2/ Earnings for all years consist of earnings after income taxes. For 1991, earnings are before
cumulative effect of change in accounting principle.
/3/ Considered to be representative of interest factor in rental expense.