EXHIBIT 12
GENERAL MOTORS CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
Years Ended December 31,
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2000 1999 1998
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(dollars in millions)
Income from continuing operations $4,452 $5,576 $3,049
Income taxes 2,393 3,118 1,636
Losses of nonconsolidated associates 332 325 239
Minority interests (13) 28 20
Amortization of capitalized interest 69 66 68
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Income from continuing operations
before income taxes, undistributed
income of associates, and
capitalized interest 7,233 9,113 5,012
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Fixed charges included in income
from continuing operations
Interest and related charges on debt 9,475 7,642 6,441
Portion of rentals deemed to be interest 341 284 251
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Total fixed charges
included in income from
continuing operations 9,816 7,926 6,692
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Earnings available for fixed charges $17,049 $17,039 $11,704
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Fixed charges
Fixed charges included in income from
continuing operations $9,816 $7,926 $6,692
Interest capitalized in the period 137 95 110
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Total fixed charges $9,953 $8,021 $6,802
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Ratios of earnings to fixed charges 1.71 2.12 1.72
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IV-11