Exhibit 12 (b)

 

GENERAL ELECTRICCAPITAL SERVICES, INC.

AND CONSOLIDATEDAFFILIATES

Computation of Ratio of Earnings to Combined Fixed Charges andPreferred Stock Dividends

|  |  | **Years      ended December 31*(In millions) **2002  **2001  **2000  **1999  **1998 
Net earnings
$
3,611 
$
5,417 
$
5,192 
$
4,443 
$
3,796
Provision for income taxes 
(79
) 
1,380  
1,912  
1,653  
1,364
Minority interest 
143  
163  
214  
186  
148               
Earnings before income taxes and minority interest 
3,675  
6,960  
7,318  
6,282  
5,308               
Fixed charges:              
Interest 
10,078  
10,836  
11,415  
9,607  
9,122
One-third of rentals 
326  
335  
392  
356  
296               
Total fixed charges
10,404
11,171
11,807
9,963
9,418               
Less interest capitalized, net of amortization 
(38
) 
(88
) 
(121
) 
(87
) 
(88
)               
Earnings before income taxes and minority interest, plus      fixed charges
$
14,041 
$
18,043 
$
19,004 
$
16,158 
$
14,638               
Preferred stock dividend requirements
$
1 
$
1 
$
1 
$
1 
$
1
Ratio of earnings before provisions for income taxes to      net earnings 
0.98  
1.25  
1.37  
1.37  
1.36               
Preferred stock dividend factor on pre-tax basis 
1  
1  
1  
1  
1
Fixed charges 
10,404  
11,171  
11,807  
9,963  
9,418               
Total fixed charges and preferred stock dividend      requirements
$
10,405 
$
11,172 
$
11,808 
$
9,964 
$
9,419               
Ratio of earnings to combined fixed charges and preferred      stock dividends 
1.35  
1.62  
1.61  
1.62  
1.55
 

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