Exhibit 12

GENERAL ELECTRIC CAPITAL SERVICES, INC. AND CONSOLIDATEDAFFILIATES

Computation of Ratio of Earnings to Fixed ChargesandComputation of Ratio of Earnings to Combined Fixed Charges and Preferred StockDividends

Nine Months Ended September 30, 2004

(Unaudited)

| *(Dollars in millions)**Ratio of    Earnings to    Fixed Charges **Ratio of    Earnings to    Combined    Fixed Charges    and Preferred    Stock    Dividends 
 

Net earnings
$
5,774 
$
5,774 
Provision for income taxes 
1,464  
1,464 
Minority interest in net earnings of consolidated affiliates 
248  
248  
 
 
Earnings before provision for income taxes and minority    interest 
7,486  
7,486  
 
 
Fixed charges:      
     Interest  
8,261  
8,261 
     One-third of rentals  
224  
224  
 
 
Total fixed charges 
8,485  
8,485  
 
 
Less interest capitalized, net of amortization 
(24
) 
(24
) 
 
 
Earnings before provision for income taxes and minority    interest,          plus fixed charges 
$
15,947
$
15,947 
 
 
Ratio of earnings to fixed charges 
1.88     
    
Preferred stock dividend requirements
$
–
Ratio of earnings before provision for income taxes to net    earnings     
1.25 
Preferred stock dividend factor on pre-tax basis    
– 
Fixed charges    
8,485 

Total fixed charges and preferred stock dividend    requirements
$
8,485    
 
Ratio of earnings to combined fixed charges and preferred    stock dividends     
1.88     
 
  
For purposes of computing the ratios, we believe that fixed    charges including interest on all indebtedness and one-third of rentals is a    reasonable approximation of the interest factor of such rentals. ** ******* |
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