Motors Liquidation Co – ‘10-K405’ for 12/31/94 – EX-12

As of:  Monday, 3/13/95   ·   For:  12/31/94   ·   Accession #:  950124-95-665   ·   File #:  1-00143

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Annual Report — [x] Reg. S-K Item 405   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K405     Annual Report -- [x] Reg. S-K Item 405                93    540K 
 2: EX-10.(A)   Material Contract                                    123    261K 
 3: EX-10.(B)   Material Contract                                    162    358K 
 4: EX-11       Statement re: Computation of Earnings Per Share        3     24K 
 5: EX-12       Statement re: Computation of Ratios                    1      8K 
 6: EX-18       Letter re: Change in Accounting Principles             1      8K 
 7: EX-21       Subsidiaries of the Registrant                         9     55K 
 8: EX-23       Consent of Experts or Counsel                          2±    12K 
 9: EX-27       Financial Data Schedule (Pre-XBRL)                     1     10K 
10: EX-99.(A)   Miscellaneous Exhibit                                 26    153K 
11: EX-99.(B)   Miscellaneous Exhibit                                 32    182K 

EX-12   —   Statement re: Computation of Ratios

EX-12
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                                                                      EXHIBIT 12

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

                                                        [Enlarge/Download Table]

                                                                   YEARS ENDED DECEMBER 31,      
                                                              ---------------------------------- 
                                                                1994         1993        1992    
                                                              ---------    --------    --------- 
                                                                    (DOLLARS IN MILLIONS)        
                                                                                                 
Income (Loss) before cumulative effect of accounting                                             
  changes.................................................... $ 5,658.7    $2,465.8    $(2,620.6)
United States, foreign, and other income taxes (credit)......   2,694.6       109.5       (712.5)
Equity in (income) losses of associates......................     (21.7)       18.1        216.4 
Cash dividends received from associates......................      10.0         5.0          4.4 
Amortization of capitalized interest.........................      50.0        54.7         43.3 
                                                              ---------    --------    --------- 
Income (Loss) before income taxes, undistributed (income)                                        
  losses of associates, and amortization of capitalized                                          
  interest...................................................   8,391.6     2,653.1     (3,069.0)
                                                              ---------    --------    --------- 
Fixed charges included in net income (loss)                                                      
  Interest and related charges on debt.......................   5,035.7     5,552.0      6,973.2 
  Portion of rentals deemed to be interest...................     465.1       459.4        461.3 
                                                              ---------    --------    --------- 
     Total fixed charges included in net income (loss).......   5,500.8     6,011.4      7,434.5 
                                                              ---------    --------    --------- 
Earnings available for fixed charges......................... $13,892.4    $8,664.5    $ 4,365.5 
                                                              =========     =======    ========= 
Fixed charges                                                                                    
  Fixed charges included in net income (loss)................ $ 5,500.8    $6,011.4    $ 7,434.5 
  Interest capitalized in the period.........................      33.9        44.1         43.6 
                                                              ---------    --------    --------- 
     Total fixed charges..................................... $ 5,534.7    $6,055.5    $ 7,478.1 
                                                              =========     =======    ========= 
Ratios of earnings to fixed charges..........................      2.51        1.43            * 
                                                              =========     =======    ========= 

-------------------------                                                       
* In 1992, earnings were inadequate to cover fixed charges by $3,112.6 million. 

IV-9