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GENERAL MOTORS CORPORATION EXHIBIT 12
AND SUBSIDIARIES COMPUTATION OF RATIOS OF EARNINGS
TO FIXED CHARGES
Six Months Ended
June 30,
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1994 1993
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(Dollars in Millions)
Income before cumulative effect of
accounting change $3,534.6 $1,402.3
United States, foreign, and other income taxes 2,003.7 1,060.6
Equity in losses of associates 5.3 33.6
Cash dividends received from associates 3.2 1.1
Amortization of capitalized interest 25.3 27.3
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Income before income taxes, undistributed
losses of associates, and amortization of
capitalized interest 5,572.1 2,524.9
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Fixed charges included in net income
Interest and related charges on debt 2,427.2 2,928.4
Portion of rentals deemed to be interest 218.5 229.2
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Total fixed charges included in net income 2,645.7 3,157.6
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Earnings available for fixed charges $8,217.8 $5,682.5
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Fixed charges
Fixed charges included in net income $2,645.7 $3,157.6
Interest capitalized in the period 16.7 14.4
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Total fixed charges $2,662.4 $3,172.0
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Ratios of earnings to fixed charges 3.09 1.79
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Certain amounts for 1993 have been reclassified to conform with 1994
classifications.
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