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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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1995 1994
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(Dollars in Millions)
Income before cumulative effect of
accounting change $4,424.1 $3,534.6
United States, foreign, and other income taxes 2,272.8 2,003.7
Equity in (income) losses of associates (35.7) 5.3
Cash dividends received from associates 5.0 3.2
Amortization of capitalized interest 25.6 25.3
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Income before income taxes, undistributed (income)
losses of associates, and amortization of
capitalized interest 6,691.8 5,572.1
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Fixed charges included in net income
Interest and related charges on debt 2,834.9 2,427.2
Portion of rentals deemed to be interest 285.9 218.5
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Total fixed charges included in net income 3,120.8 2,645.7
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Earnings available for fixed charges $9,812.6 $8,217.8
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Fixed charges
Fixed charges included in net income $3,120.8 $2,645.7
Interest capitalized in the period 23.9 16.7
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Total fixed charges $3,144.7 $2,662.4
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Ratios of earnings to fixed charges 3.12 3.09
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