EXHIBIT 12
GE FINANCIAL ASSURANCE HOLDINGS, INC.
AND CONSOLIDATED AFFILIATES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
NINE MONTHS
ENDED YEARS ENDED DECEMBER 31, SIX MONTHS
DECEMBER 31, ------------------------------------- ENDED JUNE 30,
1993 1994 1995 1996 1997
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(DOLLAR AMOUNTS IN MILLIONS)
Net earnings $ 35 $ 72 $ 101 $ 229 $ 203
Provision for income taxes 15 51 67 140 128
Minority interest in net earnings of consolidated
affiliates -- -- -- 1 --
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Income before provision for income taxes and minority
interest 50 123 168 370 331
Fixed charges:
Interest -- -- -- 1 6
One-third of rentals 1 3 3 5 4
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Total fixed charges 1 3 3 6 10
Less interest capitalized, net of amortization -- -- -- -- --
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Earnings before provision for income taxes and minority
interest plus fixed charges $ 51 $ 126 $ 171 $ 376 $ 341
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Ratio of earnings to fixed charges 51 42 57 63 34
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