Exhibit
12
General
Electric Capital Corporation and consolidated affiliates
Computation
of Ratio of Earnings to Fixed Charges
and
Computation
of Ratio of Earnings to Combined Fixed Charges and Preferred Stock
Dividends
Three
months ended March 31, 2005
(Unaudited)
|
Ratio
of
earnings
to
fixed
charges |
Ratio
of
earnings
to
combined
fixed
charges
and
preferred
stock
dividends | ||||||||
|
(Dollars
in millions) |
|||||||||
|
Net
earnings |
$ |
2,077 |
$ |
2,077 |
|||||
|
Provision
for income taxes |
445 |
445 |
|||||||
|
Minority
interest in net earnings of consolidated affiliates |
120 |
120 |
|||||||
|
Earnings
before provision for income taxes and minority interest |
2,642 |
2,642 |
|||||||
|
Fixed
charges: |
|||||||||
|
Interest |
3,457 |
3,457 |
|||||||
|
One-third
of rentals |
85 |
85 |
|||||||
|
Total
fixed charges |
3,542 |
3,542 |
|||||||
|
Less
interest capitalized, net of amortization |
(15 |
) |
(15 |
) | |||||
|
Earnings
before provision for income taxes and minority interest, |
|||||||||
|
plus
fixed charges |
$ |
6,169 |
$ |
6,169 |
|||||
|
Ratio
of earnings to fixed charges |
1.74 |
||||||||
|
Preferred
stock dividend requirements |
$ |
15 |
|||||||
|
Ratio
of earnings before provision for income taxes to net
earnings |
1.21 |
||||||||
|
Preferred
stock dividend factor on pre-tax basis |
18 |
||||||||
|
Fixed
charges |
3,542 |
||||||||
|
Total
fixed charges and preferred stock dividend requirements |
$ |
3,560 |
|||||||
|
Ratio
of earnings to combined fixed charges and preferred stock
dividends |
1.73 |
||||||||
For
purposes of computing the ratios, we believe that fixed charges include interest
on all indebtedness and one-third of rentals is a reasonable approximation of
the interest factor of such rentals.