EXHIBIT 12 GENERAL ELECTRIC COMPANY RATIO OF EARNINGS TO FIXED CHARGES (DOLLARS IN MILLIONS) SIX MONTHS ENDED JUNE 30, 1997 ---------------- GE EXCEPT GECS Earnings <F1> $ 5,179 Less: Equity in undistributed earnings of General Electric Capital Services, Inc. <F2> (932) Plus: Interest and other financial charges included in expense 323 One-third of rental expense <F3> 85 -------- Adjusted "earnings" $ 4,655 ======== Fixed Charges: Interest and other financial charges $ 323 Interest capitalized 13 One-third of rental expense <F3> 85 -------- Total fixed charges $ 421 ======== Ratio of earnings to fixed charges 11.06 ======== GENERAL ELECTRIC COMPANY AND CONSOLIDATED AFFILIATES Earnings <F1> $ 5,897 Plus: Interest and other financial charges included in expense 3,978 One-third of rental expense <F3> 197 -------- Adjusted "earnings" $ 10,072 ======== Fixed Charges: Interest and other financial charges $ 3,978 Interest capitalized 36 One-third of rental expense <F3> 197 -------- Total fixed charges $ 4,211 ======== Ratio of earnings to fixed charges 2.39 ======== <FN> <F1> Earnings before income taxes and minority interest. <F2> Earnings after income taxes, net of dividends. <F3> Considered to be representative of interest factor in rental expense.