|
Exhibit 12(b)
|
||||||||||||||
|
General Electric Capital Corporation and consolidated affiliates
|
||||||||||||||
|
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
|
||||||||||||||
|
Years ended December 31
|
||||||||||||||
|
(Dollars in millions)
|
2014
|
2013
|
2012
|
2011
|
2010
|
|||||||||
|
|
|
|
|
|||||||||||
|
Earnings(a)
|
$
|
7,179
|
$
|
7,145
|
$
|
7,606
|
$
|
7,133
|
$
|
1,831
|
||||
|
Plus:
|
||||||||||||||
|
Interest included in expense(b)
|
8,397
|
9,267
|
11,596
|
13,760
|
14,403
|
|||||||||
|
One-third of rental expense(c)
|
127
|
143
|
180
|
197
|
206
|
|||||||||
|
Adjusted "earnings"
|
$
|
15,703
|
$
|
16,555
|
$
|
19,382
|
$
|
21,090
|
$
|
16,440
|
||||
|
Fixed charges:
|
||||||||||||||
|
Interest included in expense(b)
|
$
|
8,397
|
$
|
9,267
|
$
|
11,596
|
$
|
13,760
|
$
|
14,403
|
||||
|
Interest capitalized
|
23
|
27
|
26
|
25
|
39
|
|||||||||
|
One-third of rental expense(c)
|
127
|
143
|
180
|
197
|
206
|
|||||||||
|
Total fixed charges
|
$
|
8,547
|
$
|
9,437
|
$
|
11,802
|
$
|
13,982
|
$
|
14,648
|
||||
|
Ratio of earnings to fixed charges
|
1.84
|
1.75
|
1.64
|
1.51
|
1.12
|
|||||||||
|
Preferred stock dividend requirements
|
$
|
322
|
$
|
298
|
$
|
123
|
$
|
-
|
$
|
-
|
||||
|
Ratio of earnings before provision for
|
||||||||||||||
|
income taxes to earnings from
|
||||||||||||||
|
continuing operations
|
1.02
|
0.88
|
1.07
|
1.14
|
0.69
|
|||||||||
|
Preferred stock dividend factor on pre-tax basis
|
$
|
328
|
$
|
262
|
$
|
132
|
$
|
-
|
$
|
-
|
||||
|
Fixed charges
|
8,547
|
9,437
|
11,802
|
13,982
|
14,648
|
|||||||||
|
Total fixed charges and preferred stock
|
||||||||||||||
|
dividend requirements
|
$
|
8,875
|
$
|
9,699
|
$
|
11,934
|
$
|
13,982
|
$
|
14,648
|
||||
|
Ratio of earnings to combined fixed
|
||||||||||||||
|
charges and preferred stock dividends
|
1.77
|
1.71
|
1.62
|
1.51
|
1.12
|
|||||||||
|
(a)
|
Earnings (loss) before income taxes, noncontrolling interests, discontinued operations and undistributed earnings of equity investees.
|
|
(b)
|
Includes interest on tax deficiencies.
|
|
(c)
|
Considered to be representative of interest factor in rental expense.
|