EXHIBIT 12 GENERAL ELECTRIC COMPANY RATIO OF EARNINGS TO FIXED CHARGES (Dollars in millions) Three months ended March 31, 1994 ------------------- GE except GECS - - --------------- "Earnings" -a) $1,436 Less: Equity in undistributed earnings of General Electric Capital Services, Inc. -b) (143) Plus: Interest and other financial charges included in expense 91 One-third of rental expense -c) 53 ------- Adjusted "earnings" $1,437 ======= Fixed Charges: Interest and other financial charges $91 Interest capitalized 4 One-third of rental expense -c) 53 ------- Total fixed charges $148 ======= Ratio of earnings to fixed charges 9.71 ======= General Electric Company and consolidated affiliates - - ---------------------------------------------------- "Earnings" -a) $1,549 Plus: Interest and other financial charges included in expense 2,292 One-third of rental expense -c) 96 ------- Adjusted "earnings" $3,937 ======= Fixed Charges: Interest and other financial charges $2,292 Interest capitalized 6 One-third of rental expense -c) 96 ------- Total fixed charges $2,394 ======= Ratio of earnings to fixed charges 1.64 ======= (a- Earnings from continuing operations before income taxes and minority interest. (b- Earnings after income taxes. (c- Considered to be representative of interest factor in rental expense.