Motors Liquidation Co – ‘10-K’ for 12/31/04 – EX-12

On:  Wednesday, 3/16/05, at 11:13am ET   ·   For:  12/31/04   ·   Accession #:  40730-5-50   ·   File #:  1-00043

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Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        General Motors 2004 Form 10-K                         96    574K 
 2: EX-10       2001 Agreement Between Gmc and Gmac                    3     17K 
 3: EX-12       Ratio of Earnings                                      2±     7K 
 4: EX-21       Subsidiary List                                        6     33K 
 5: EX-23       Auditor's Consent                                      2±    10K 
 6: EX-31       Certification of CEO G. Richard Wagoner, Jr.           2±    10K 
 7: EX-31       Certification of CFO John M. Devine                    2±    10K 
 8: EX-32       Certification of CEO G. Richard Wagoner, Jr.           1      7K 
 9: EX-32       Certification of CFO John M. Devine                    1      7K 

EX-12   —   Ratio of Earnings

                                                                      EXHIBIT 12

 GENERAL MOTORS CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

                                  Years Ended December 31,
                                 -------------------------------------------
                                  2004            2003            2002
                                  ----            ----            ----
                                   (dollars in millions)

Income from continuing operations    $2,805          $2,862          $1,975     
Income tax expense                     (911)            731             644     
(Income)/losses of and dividends                                                
from nonconsolidated associates      (429)           (364)           (135)  
Amortization of capitalized                                                     
interest                               79              79              73   
                                 -----          ------          ------

Income before income taxes,                                                     
undistributed income of                                                     
nonconsolidated associates,                                                 
and capitalized interest            1,544           3,308           2,557   
                                 -----          ------          ------

Fixed charges included in income                                                
Interest and related charges on                                             
debt                             12,015           9,522           8,115 
Portion of rentals deemed to                                                
be interest                         265             269             289 
                                ------          ------          ------
Total fixed charges included                                            
in income from continuing                                           
 operations                     12,280           9,791           8,404
                                ------          ------          ------

Earnings available for fixed                                                    
charges                           $13,824         $13,099         $10,961   
                                ======          ======          ======

Fixed charges                                                                   
Fixed charges included in                                                   
income                          $12,280          $9,791          $8,404 
Interest capitalized in the                                                 
period                               38              33              74 
                                ------           -----           -----
Total fixed charges             $12,318          $9,824          $8,478 
                                ======           =====           =====

Ratios of earnings to fixed                                                     
charges                              1.12            1.33            1.29   
                                  ====            ====            ====

IV-8