EXHIBIT 12 GENERAL ELECTRIC COMPANY RATIO OF EARNINGS TO FIXED CHARGES (Dollars in millions) Six months ended June 30, 1994 ----------------- GE except GECS - --------------- "Earnings" -a) $3,510 Less: Equity in undistributed earnings of General Electric Capital Services, Inc. -b) (519) Plus: Interest and other financial charges included in expense 195 One-third of rental expense -c) 106 ------- Adjusted "earnings" $3,292 ======= Fixed Charges: Interest and other financial charges $195 Interest capitalized 8 One-third of rental expense -c) 106 ------- Total fixed charges $309 ======= Ratio of earnings to fixed charges 10.65 ======= General Electric Company and consolidated affiliates - ---------------------------------------------------- "Earnings" -a) $3,834 Plus: Interest and other financial charges included in expense 4,551 One-third of rental expense -c) 190 ------- Adjusted "earnings" $8,575 ======= Fixed Charges: Interest and other financial charges $4,551 Interest capitalized 13 One-third of rental expense -c) 190 ------- Total fixed charges $4,754 ======= Ratio of earnings to fixed charges 1.80 ======= (a- Earnings before income taxes and minority interest. (b- Earnings after income taxes. (c- Considered to be representative of interest factor in rental expense.