Exhibit 12
GE FINANCIAL ASSURANCE HOLDINGS, INC.
AND CONSOLIDATED AFFILIATES
Computation of Ratio of Earnings to Fixed Charges
Nine Months Three Months
Ended Years Ended December 31, Ended
December 31, --------------------------------------------------- March 28,
1993 1994 1995 1996 1997 1998
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(Dollar amounts in millions)
Net earnings ..................................... $ 35 $ 72 $ 101 $ 229 $ 425 $ 112
Provision for income taxes ....................... 15 51 67 140 261 69
Minority interest in net earnings of
consolidated affiliates ......................... -- -- -- 1 --
----- ----- ----- ------ ----- -----
Income before provision for income taxes
and minority interest ........................... 50 123 168 370 686 181
Fixed charges:
Interest ........................................ -- -- -- 1 23 18
One-third of rentals ............................ 1 3 3 5 9 3
----- ----- ----- ------ ----- -----
Total fixed charges .............................. 1 3 3 6 32 21
Less interest capitalized, net of
amortization .................................... -- -- -- -- -- --
----- ----- ----- ------ ----- -----
Earnings before provision for income taxes
and minority interest plus fixed charges ........ $ 51 $ 126 $ 171 $ 376 $ 718 $ 202
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Ratio of earnings to fixed charges ............... 51 42 57 63 22 10
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