General Electric (GE) 10-Q 7 May 10 2010 Q1 Quarterly report Financial data

Document & Entity Information

Document & Entity Information
	3 Months Ended Mar. 31, 2010
Document and Entity Information Abstract
Document type	10-Q
Document period end date	2010-03-31
Amendment flag	false
Entity registrant name	General Electric Company
Entity central index key	0000040545
Current fiscal year end date	--12-31
Entity filer category	Large Accelerated Filer
Entity common stock shares outstanding	10,676,518,000
Document Fiscal Year Focus	2,010
Document Fiscal Period Focus	Q1

Condensed Statement of Earnings

Condensed Statement of Earnings (Unaudited) (USD $)
In Millions	3 Months Ended Mar. 31, 2010		3 Months Ended Mar. 31, 2009
Revenues
Sales of goods	$13,765	[1],[2]	$14,072	[1],[2]
Sales of services	9,908	[1],[2]	10,055	[1],[2]
Other income	350	[1],[2]	428	[1],[2]
GECS earnings from continuing operations	0	[1],[2]	0	[1],[2]
GECS revenues from services	12,582	[1],[2]	13,883	[1],[2]
Total revenues	36,605	[1],[2]	38,438	[1],[2]
Costs and expenses
Cost of goods sold	10,572	[1],[2]	11,433	[1],[2]
Cost of services sold	6,940	[1],[2]	6,633	[1],[2]
Interest and other financial charges	4,161	[1],[2]	5,327	[1],[2]
Investment contracts, insurance losses and insurance annuity benefits	747	[1],[2]	746	[1],[2]
Provision for losses on GECS financing receivables	2,263	[1],[2]	2,336	[1],[2]
Other costs and expenses	9,095	[1],[2]	9,337	[1],[2]
Total costs and expenses	33,778	[1],[2]	35,812	[1],[2]
Earnings (loss) from continuing operations before income taxes	2,827	[1],[2]	2,626	[1],[2]
Benefit (provision) for income taxes	(431)	[1],[2]	309	[1],[2]
Earnings from continuing operations	2,396	[1],[2]	2,935	[1],[2]
Loss from discontinued operations, net of taxes	(390)	[1],[2]	(21)	[1],[2]
Net earnings	2,006	[1],[2]	2,914	[1],[2]
Less net earnings attributable to noncontrolling interests	61	[1],[2]	85	[1],[2]
Net earnings attributable to the Company	1,945	[1],[2]	2,829	[1],[2]
Preferred stock dividends declared	(75)	[1],[2]	(75)	[1],[2]
Net earnings attributable to GE common shareowners	1,870	[1],[2]	2,754	[1],[2]
Amounts attributable to the Company
Earnings from continuing operations	2,335	[1],[2]	2,850	[1],[2]
Loss from discontinued operations, net of taxes	(390)	[1],[2]	(21)	[1],[2]
Net earnings attributable to the Company	1,945	[1],[2]	2,829	[1],[2]
Earnings from continuing operations
Diluted earnings per share	0.21	[1],[2]	0.26	[1],[2]
Basic earnings per share	0.21	[1],[2]	0.26	[1],[2]
Net earnings
Diluted earnings per share	0.17	[1],[2]	0.26	[1],[2]
Basic earnings per share	0.17	[1],[2]	0.26	[1],[2]
Dividends declared per common share	0.1	[1],[2]	0.31	[1],[2]
GE
Revenues
Sales of goods	13,489	[1],[3]	13,813	[1],[3]
Sales of services	10,020	[1],[3]	10,209	[1],[3]
Other income	376	[1],[3]	479	[1],[3]
GECS earnings from continuing operations	539	[1],[3]	979	[1],[3]
GECS revenues from services	0	[1],[3]	0	[1],[3]
Total revenues	24,424	[1],[3]	25,480	[1],[3]
Costs and expenses
Cost of goods sold	10,311	[1],[3]	11,222	[1],[3]
Cost of services sold	7,052	[1],[3]	6,787	[1],[3]
Interest and other financial charges	343	[1],[3]	376	[1],[3]
Investment contracts, insurance losses and insurance annuity benefits	0	[1],[3]	0	[1],[3]
Provision for losses on GECS financing receivables	0	[1],[3]	0	[1],[3]
Other costs and expenses	3,537	[1],[3]	3,364	[1],[3]
Total costs and expenses	21,243	[1],[3]	21,749	[1],[3]
Earnings (loss) from continuing operations before income taxes	3,181	[1],[3]	3,731	[1],[3]
Benefit (provision) for income taxes	(788)	[1],[3]	(842)	[1],[3]
Earnings from continuing operations	2,393	[1],[3]	2,889	[1],[3]
Loss from discontinued operations, net of taxes	(390)	[1],[3]	(21)	[1],[3]
Net earnings	2,003	[1],[3]	2,868	[1],[3]
Less net earnings attributable to noncontrolling interests	58	[1],[3]	39	[1],[3]
Net earnings attributable to the Company	1,945	[1],[3]	2,829	[1],[3]
Preferred stock dividends declared	(75)	[1],[3]	(75)	[1],[3]
Net earnings attributable to GE common shareowners	1,870	[1],[3]	2,754	[1],[3]
Amounts attributable to the Company
Earnings from continuing operations	2,335	[1],[3]	2,850	[1],[3]
Loss from discontinued operations, net of taxes	(390)	[1],[3]	(21)	[1],[3]
Net earnings attributable to the Company	1,945	[1],[3]	2,829	[1],[3]
Financial Services (GECS)
Revenues
Sales of goods	281	[1]	273	[1]
Sales of services	0	[1]	0	[1]
Other income	0	[1]	0	[1]
GECS earnings from continuing operations	0	[1]	0	[1]
GECS revenues from services	12,890	[1]	14,184	[1]
Total revenues	13,171	[1]	14,457	[1]
Costs and expenses
Cost of goods sold	265	[1]	224	[1]
Cost of services sold	0	[1]	0	[1]
Interest and other financial charges	3,938	[1]	5,121	[1]
Investment contracts, insurance losses and insurance annuity benefits	787	[1]	773	[1]
Provision for losses on GECS financing receivables	2,263	[1]	2,336	[1]
Other costs and expenses	5,733	[1]	6,129	[1]
Total costs and expenses	12,986	[1]	14,583	[1]
Earnings (loss) from continuing operations before income taxes	185	[1]	(126)	[1]
Benefit (provision) for income taxes	357	[1]	1,151	[1]
Earnings from continuing operations	542	[1]	1,025	[1]
Loss from discontinued operations, net of taxes	(387)	[1]	(4)	[1]
Net earnings	155	[1]	1,021	[1]
Less net earnings attributable to noncontrolling interests	3	[1]	46	[1]
Net earnings attributable to the Company	152	[1]	975	[1]
Preferred stock dividends declared	0	[1]	0	[1]
Net earnings attributable to GE common shareowners	152	[1]	975	[1]
Amounts attributable to the Company
Earnings from continuing operations	539	[1]	979	[1]
Loss from discontinued operations, net of taxes	(387)	[1]	(4)	[1]
Net earnings attributable to the Company	$152	[1]	$975	[1]
[1]See accompanying notes. Separate information is shown for "GE" and "Financial Services (GECS)." Transactions between GE and GECS have been eliminated from the "Consolidated" columns.
[2]See Note 3 for other-than-temporary impairment amounts.
[3]Represents the adding together of all affiliated companies except General Electric Capital Services, Inc. (GECS or financial services), which is presented on a one-line basis.

Condensed Statement of Financia

Condensed Statement of Financial Position (Unaudited) (USD $)
In Millions	Mar. 31, 2010		Dec. 31, 2009
Assets
Cash and equivalents	$69,628	[1]	$72,260	[1]
Investment securities	41,549	[1]	51,941	[1]
Current receivables	17,729	[1]	16,458	[1]
Inventories	11,751	[1]	11,987	[1]
Financing receivables - net	346,939	[1]	329,232	[1]
Other GECS receivables	9,993	[1]	14,177	[1]
Property, plant and equipment - net	68,016	[1]	69,212	[1]
Investment in GECS	0	[1]	0	[1]
Goodwill	64,910	[1]	65,574	[1]
Other intangible assets - net	11,545	[1]	11,929	[1]
All other assets	100,475	[1]	103,417	[1]
Assets of businesses held for sale	33,735	[1]	34,111	[1]
Assets of discontinued operations	1,085	[1]	1,520	[1]
Total assets	777,355	[1],[2]	781,818	[1],[2]
Liabilities and equity
Short-term borrowings	123,931	[1]	130,252	[1]
Accounts payable, principally trade accounts	14,498	[1]	19,703	[1]
Progress collections and price adjustments accrued	11,468	[1]	12,192	[1]
Other GE current liabilities	14,429	[1]	14,527	[1]
Non-recourse borrowings of consolidated securitization entities	36,780	[1]	3,883	[1]
Bank Deposits	38,310	[1]	38,923	[1]
Long-term borrowings	317,606	[1]	337,134	[1]
Investment contracts, insurance liabilities and insurance annuity benefits	31,451	[1]	31,641	[1]
All other liabilities	55,652	[1]	58,861	[1]
Deferred income taxes	2,615	[1]	2,173	[1]
Liabilities of businesses held for sale	6,416	[1]	6,092	[1]
Liabilities of discontinued operations	1,248	[1]	1,301	[1]
Total liabilities	654,404	[1],[2]	656,682	[1],[2]
Preferred stock (30,000 shares outstanding at both March 31, 2010 and December 31, 2009)	0	[1]	0	[1]
Common stock (10,676,518,000 and 10,663,075,000 shares outstanding at March 31, 2010 and December 31, 2009, respectively)	702	[1]	702	[1]
Accumulated other comprehensive income - net
Investment securities	(342)	[1],[3]	(435)	[1],[3]
Currency translation adjustments	1,424	[1],[3]	3,836	[1],[3]
Cash flow hedges	(1,332)	[1],[3]	(1,734)	[1],[3]
Benefit plans	(16,534)	[1],[3]	(16,932)	[1],[3]
Other capital	37,588	[1]	37,729	[1]
Retained earnings	125,446	[1]	126,363	[1]
Less common stock held in treasury	(31,757)	[1]	(32,238)	[1]
Total GE shareowners' equity	115,195	[1]	117,291	[1]
Noncontrolling interests	7,756	[1],[4]	7,845	[1],[4]
Total equity	122,951	[1]	125,136	[1]
Total liabilities and equity	777,355	[1]	781,818	[1]
GE
Assets
Cash and equivalents	10,238	[1],[5]	8,654	[1],[5]
Investment securities	28	[1],[5]	30	[1],[5]
Current receivables	9,380	[1],[5]	9,818	[1],[5]
Inventories	11,674	[1],[5]	11,916	[1],[5]
Financing receivables - net	0	[1],[5]	0	[1],[5]
Other GECS receivables	0	[1],[5]	0	[1],[5]
Property, plant and equipment - net	12,090	[1],[5]	12,495	[1],[5]
Investment in GECS	68,517	[1],[5]	70,833	[1],[5]
Goodwill	36,411	[1],[5]	36,613	[1],[5]
Other intangible assets - net	8,307	[1],[5]	8,450	[1],[5]
All other assets	17,511	[1],[5]	17,097	[1],[5]
Assets of businesses held for sale	32,786	[1],[5]	33,986	[1],[5]
Assets of discontinued operations	50	[1],[5]	50	[1],[5]
Total assets	206,992	[1],[5]	209,942	[1],[5]
Liabilities and equity
Short-term borrowings	899	[1],[5]	504	[1],[5]
Accounts payable, principally trade accounts	10,013	[1],[5]	10,373	[1],[5]
Progress collections and price adjustments accrued	11,982	[1],[5]	12,957	[1],[5]
Other GE current liabilities	14,429	[1],[5]	14,527	[1],[5]
Non-recourse borrowings of consolidated securitization entities	0	[1],[5]	0	[1],[5]
Bank Deposits	0	[1],[5]	0	[1],[5]
Long-term borrowings	11,389	[1],[5]	11,681	[1],[5]
Investment contracts, insurance liabilities and insurance annuity benefits	0	[1],[5]	0	[1],[5]
All other liabilities	35,210	[1],[5]	35,232	[1],[5]
Deferred income taxes	(4,285)	[1],[5]	(4,620)	[1],[5]
Liabilities of businesses held for sale	6,386	[1],[5]	6,037	[1],[5]
Liabilities of discontinued operations	176	[1],[5]	163	[1],[5]
Total liabilities	86,199	[1],[5]	86,854	[1],[5]
Preferred stock (30,000 shares outstanding at both March 31, 2010 and December 31, 2009)	0	[1],[5]	0	[1],[5]
Common stock (10,676,518,000 and 10,663,075,000 shares outstanding at March 31, 2010 and December 31, 2009, respectively)	702	[1],[5]	702	[1],[5]
Accumulated other comprehensive income - net
Investment securities	(342)	[1],[5]	(435)	[1],[5]
Currency translation adjustments	1,424	[1],[5]	3,836	[1],[5]
Cash flow hedges	(1,332)	[1],[5]	(1,734)	[1],[5]
Benefit plans	(16,534)	[1],[5]	(16,932)	[1],[5]
Other capital	37,588	[1],[5]	37,729	[1],[5]
Retained earnings	125,446	[1],[5]	126,363	[1],[5]
Less common stock held in treasury	(31,757)	[1],[5]	(32,238)	[1],[5]
Total GE shareowners' equity	115,195	[1],[5]	117,291	[1],[5]
Noncontrolling interests	5,598	[1],[5]	5,797	[1],[5]
Total equity	120,793	[1],[5]	123,088	[1],[5]
Total liabilities and equity	206,992	[1],[5]	209,942	[1],[5]
Financial Services (GECS)
Assets
Cash and equivalents	60,039	[1]	64,356	[1]
Investment securities	41,523	[1]	51,913	[1]
Current receivables	0	[1]	0	[1]
Inventories	77	[1]	71	[1]
Financing receivables - net	356,185	[1]	336,926	[1]
Other GECS receivables	14,527	[1]	18,752	[1]
Property, plant and equipment - net	55,926	[1]	56,717	[1]
Investment in GECS	0	[1]	0	[1]
Goodwill	28,499	[1]	28,961	[1]
Other intangible assets - net	3,238	[1]	3,479	[1]
All other assets	84,145	[1]	87,471	[1]
Assets of businesses held for sale	949	[1]	125	[1]
Assets of discontinued operations	1,035	[1]	1,470	[1]
Total assets	646,143	[1]	650,241	[1]
Liabilities and equity
Short-term borrowings	124,457	[1]	131,137	[1]
Accounts payable, principally trade accounts	8,261	[1]	13,275	[1]
Progress collections and price adjustments accrued	0	[1]	0	[1]
Other GE current liabilities	0	[1]	0	[1]
Non-recourse borrowings of consolidated securitization entities	36,780	[1]	3,883	[1]
Bank Deposits	38,310	[1]	38,923	[1]
Long-term borrowings	307,102	[1]	326,391	[1]
Investment contracts, insurance liabilities and insurance annuity benefits	31,990	[1]	32,009	[1]
All other liabilities	20,566	[1]	23,756	[1]
Deferred income taxes	6,900	[1]	6,793	[1]
Liabilities of businesses held for sale	30	[1]	55	[1]
Liabilities of discontinued operations	1,072	[1]	1,138	[1]
Total liabilities	575,468	[1]	577,360	[1]
Preferred stock (30,000 shares outstanding at both March 31, 2010 and December 31, 2009)	0	[1]	0	[1]
Common stock (10,676,518,000 and 10,663,075,000 shares outstanding at March 31, 2010 and December 31, 2009, respectively)	1	[1]	1	[1]
Accumulated other comprehensive income - net
Investment securities	(343)	[1]	(436)	[1]
Currency translation adjustments	13	[1]	1,372	[1]
Cash flow hedges	(1,356)	[1]	(1,769)	[1]
Benefit plans	(392)	[1]	(434)	[1]
Other capital	27,588	[1]	27,591	[1]
Retained earnings	43,006	[1]	44,508	[1]
Less common stock held in treasury	0	[1]	0	[1]
Total GE shareowners' equity	68,517	[1]	70,833	[1]
Noncontrolling interests	2,158	[1]	2,048	[1]
Total equity	70,675	[1]	72,881	[1]
Total liabilities and equity	$646,143	[1]	$650,241	[1]
[1]See accompanying notes. Separate information is shown for "GE" and "Financial Services (GECS)." Transactions between GE and GECS have been eliminated from the "Consolidated" columns.
[2]Assets and liabilities of consolidated variable interest entities (VIEs) were $57,571 million and $49,056 million, respectively, at March 31, 2010. Substantially all of the assets of the VIEs can only be used to settle obligations of those VIEs. See Note 16.
[3]The sum of accumulated other comprehensive income - net was $(16,784) million and $(15,265) million at March 31, 2010 and December 31, 2009, respectively
[4]Included accumulated other comprehensive income - net attributable to noncontrolling interests of $(187) million and $(188) million at March 31, 2010 and December 31, 2009, respectively
[5]Represents the adding together of all affiliated companies except General Electric Capital Services, Inc. (GECS or financial services), which is presented on a one-line basis.

1_Condensed Statement of Financ

Condensed Statement of Financial Position (Parenthetical)(Unaudited) (USD $)
In Millions, except Share data	3 Months Ended Mar. 31, 2010	Dec. 31, 2009
Condensed Statement of Financial Position (Parenthetical)
Preferred stock, shares	30,000	30,000
Common stock, shares	10,676,518,000	10,663,075,000
Sum of accumulated other comprehensive income - net	($16,784)	($15,265)
Accumulated other comprehensive income - net attributable to noncontrolling interests	(187)	(188)
Assets of consolidated variable interest entities	57,571
Liabilities of consolidated variable interest entities	$49,056

Condensed Statement of Cash Flo

Condensed Statement of Cash Flows (Unaudited) (USD $)
In Millions	3 Months Ended Mar. 31, 2010		3 Months Ended Mar. 31, 2009
Cash flows - operating activities
Net earnings	$2,006	[1],[2]	$2,914	[1],[2]
Less net earnings attributable to noncontrolling interests	61	[1],[2]	85	[1],[2]
Net earnings attributable to the Company	1,945	[1],[2]	2,829	[1],[2]
Loss from discontinued operations	390	[1],[2]	21	[1],[2]
Adjustments to reconcile net earnings attributable to the Company to cash provided from operating activities
Depreciation and amortization of property, plant and equipment	2,475	[3]	2,731	[3]
Earnings from continuing operations retained by GECS	0	[3]	0	[3]
Deferred income taxes	320	[3]	(528)	[3]
Decrease (increase) in GE current receivables	514	[3]	1,952	[3]
Decrease (increase) in inventories	186	[3]	(158)	[3]
Increase (decrease) in accounts payable	679	[3]	(1,672)	[3]
Increase (decrease) in GE progress collections	(743)	[3]	(724)	[3]
Provision for losses on GECS financing receivables	2,263	[1],[2]	2,336	[1],[2]
All other operating activities	(866)	[3]	(6,943)	[3]
Cash from (used for) operating activities - continuing operations	7,163	[3]	(156)	[3]
Cash from (used for) operating activities - discontinued operations	(69)	[3]	(45)	[3]
Cash from (used for) operating activities	7,094	[3]	(201)	[3]
Cash flows - investing activities
Additions to property, plant and equipment	(1,302)	[3]	(2,560)	[3]
Dispositions of property, plant and equipment	1,597	[3]	1,183	[3]
Net decrease (increase) in GECS financing receivables	10,880	[3]	18,004	[3]
Proceeds from principal business dispositions	1,842	[3]	9,021	[3]
Payments for principal businesses purchased	(18)	[3]	(7,128)	[3]
Capital contribution from GE to GECS	0	[3]	0	[3]
All other investing activities	6,001	[3]	(2,524)	[3]
Cash from (used for) investing activities - continuing operations	19,000	[3]	15,996	[3]
Cash from (used for) investing activities - discontinued operations	9	[3]	47	[3]
Cash from (used for) investing activities	19,009	[3]	16,043	[3]
Cash flows - financing activities
Net increase (decrease) in borrowings (maturities of 90 days or less)	(1,824)	[3]	(13,620)	[3]
Net increase (decrease) in bank deposits	(613)	[3]	(3,336)	[3]
Newly issued debt (maturities longer than 90 days)	16,087	[3]	31,164	[3]
Repayments and other reductions (maturities longer than 90 days)	(40,032)	[3]	(27,313)	[3]
Net dispositions (purchases) of GE shares for treasury	80	[3]	245	[3]
Dividends paid to shareowners	(1,143)	[3]	(3,350)	[3]
Capital contribution from GE to GECS	0	[3]	0	[3]
All other financing activities	(594)	[3]	(798)	[3]
Cash from (used for) financing activities - continuing operations	(28,039)	[3]	(17,008)	[3]
Cash from (used for) financing activities - discontinued operations	0	[3]	0	[3]
Cash from (used for) financing activities	(28,039)	[3]	(17,008)	[3]
Effect of currency exchange rate changes on cash and equivalents	(756)	[3]	(189)	[3]
Increase (decrease) in cash and equivalents	(2,692)	[3]	(1,355)	[3]
Cash and equivalents at beginning of year	72,444	[3]	48,367	[3]
Cash and equivalents at March 31	69,752	[3]	47,012	[3]
Less cash and equivalents of discontinued operations at March 31	124	[3]	182	[3]
Cash and equivalents of continuing operations at March 31	69,628	[1]	46,830	[3]
GE
Cash flows - operating activities
Net earnings	2,003	[1],[4]	2,868	[1],[4]
Less net earnings attributable to noncontrolling interests	58	[1],[4]	39	[1],[4]
Net earnings attributable to the Company	1,945	[1],[4]	2,829	[1],[4]
Loss from discontinued operations	390	[1],[4]	21	[1],[4]
Adjustments to reconcile net earnings attributable to the Company to cash provided from operating activities
Depreciation and amortization of property, plant and equipment	550	[3],[4]	550	[3],[4]
Earnings from continuing operations retained by GECS	(539)	[3],[4]	(979)	[3],[4]
Deferred income taxes	40	[3],[4]	74	[3],[4]
Decrease (increase) in GE current receivables	319	[3],[4]	2,225	[3],[4]
Decrease (increase) in inventories	213	[3],[4]	(170)	[3],[4]
Increase (decrease) in accounts payable	188	[3],[4]	(555)	[3],[4]
Increase (decrease) in GE progress collections	(994)	[3],[4]	(755)	[3],[4]
Provision for losses on GECS financing receivables	0	[1],[4]	0	[1],[4]
All other operating activities	439	[3],[4]	(165)	[3],[4]
Cash from (used for) operating activities - continuing operations	2,551	[3],[4]	3,075	[3],[4]
Cash from (used for) operating activities - discontinued operations	0	[3],[4]	0	[3],[4]
Cash from (used for) operating activities	2,551	[3],[4]	3,075	[3],[4]
Cash flows - investing activities
Additions to property, plant and equipment	(522)	[3],[4]	(756)	[3],[4]
Dispositions of property, plant and equipment	0	[3],[4]	0	[3],[4]
Net decrease (increase) in GECS financing receivables	0	[3],[4]	0	[3],[4]
Proceeds from principal business dispositions	1,672	[3],[4]	175	[3],[4]
Payments for principal businesses purchased	(18)	[3],[4]	(306)	[3],[4]
Capital contribution from GE to GECS	0	[3],[4]	(9,500)	[3],[4]
All other investing activities	(20)	[3],[4]	54	[3],[4]
Cash from (used for) investing activities - continuing operations	1,112	[3],[4]	(10,333)	[3],[4]
Cash from (used for) investing activities - discontinued operations	0	[3],[4]	0	[3],[4]
Cash from (used for) investing activities	1,112	[3],[4]	(10,333)	[3],[4]
Cash flows - financing activities
Net increase (decrease) in borrowings (maturities of 90 days or less)	(151)	[3],[4]	990	[3],[4]
Net increase (decrease) in bank deposits	0	[3],[4]	0	[3],[4]
Newly issued debt (maturities longer than 90 days)	120	[3],[4]	1,226	[3],[4]
Repayments and other reductions (maturities longer than 90 days)	(523)	[3],[4]	(1,580)	[3],[4]
Net dispositions (purchases) of GE shares for treasury	80	[3],[4]	245	[3],[4]
Dividends paid to shareowners	(1,143)	[3],[4]	(3,350)	[3],[4]
Capital contribution from GE to GECS	0	[3],[4]	0	[3],[4]
All other financing activities	(203)	[3],[4]	(194)	[3],[4]
Cash from (used for) financing activities - continuing operations	(1,820)	[3],[4]	(2,663)	[3],[4]
Cash from (used for) financing activities - discontinued operations	0	[3],[4]	0	[3],[4]
Cash from (used for) financing activities	(1,820)	[3],[4]	(2,663)	[3],[4]
Effect of currency exchange rate changes on cash and equivalents	(259)	[3],[4]	(42)	[3],[4]
Increase (decrease) in cash and equivalents	1,584	[3],[4]	(9,963)	[3],[4]
Cash and equivalents at beginning of year	8,654	[3],[4]	12,090	[3],[4]
Cash and equivalents at March 31	10,238	[3],[4]	2,127	[3],[4]
Less cash and equivalents of discontinued operations at March 31	0	[3],[4]	0	[3],[4]
Cash and equivalents of continuing operations at March 31	10,238	[1],[4]	2,127	[3],[4]
Financial Services (GECS)
Cash flows - operating activities
Net earnings	155	[1]	1,021	[1]
Less net earnings attributable to noncontrolling interests	3	[1]	46	[1]
Net earnings attributable to the Company	152	[1]	975	[1]
Loss from discontinued operations	387	[1]	4	[1]
Adjustments to reconcile net earnings attributable to the Company to cash provided from operating activities
Depreciation and amortization of property, plant and equipment	1,925	[3]	2,181	[3]
Earnings from continuing operations retained by GECS	0	[3]	0	[3]
Deferred income taxes	280	[3]	(602)	[3]
Decrease (increase) in GE current receivables	0	[3]	0	[3]
Decrease (increase) in inventories	(6)	[3]	12	[3]
Increase (decrease) in accounts payable	322	[3]	(1,655)	[3]
Increase (decrease) in GE progress collections	0	[3]	0	[3]
Provision for losses on GECS financing receivables	2,263	[1]	2,336	[1]
All other operating activities	(1,168)	[3]	(6,698)	[3]
Cash from (used for) operating activities - continuing operations	4,155	[3]	(3,447)	[3]
Cash from (used for) operating activities - discontinued operations	(69)	[3]	(45)	[3]
Cash from (used for) operating activities	4,086	[3]	(3,492)	[3]
Cash flows - investing activities
Additions to property, plant and equipment	(857)	[3]	(1,896)	[3]
Dispositions of property, plant and equipment	1,597	[3]	1,183	[3]
Net decrease (increase) in GECS financing receivables	11,340	[3]	17,962	[3]
Proceeds from principal business dispositions	0	[3]	8,846	[3]
Payments for principal businesses purchased	0	[3]	(6,822)	[3]
Capital contribution from GE to GECS	0	[3]	0	[3]
All other investing activities	6,181	[3]	(1,935)	[3]
Cash from (used for) investing activities - continuing operations	18,261	[3]	17,338	[3]
Cash from (used for) investing activities - discontinued operations	9	[3]	47	[3]
Cash from (used for) investing activities	18,270	[3]	17,385	[3]
Cash flows - financing activities
Net increase (decrease) in borrowings (maturities of 90 days or less)	(1,637)	[3]	(15,852)	[3]
Net increase (decrease) in bank deposits	(613)	[3]	(3,336)	[3]
Newly issued debt (maturities longer than 90 days)	15,914	[3]	30,035	[3]
Repayments and other reductions (maturities longer than 90 days)	(39,509)	[3]	(25,733)	[3]
Net dispositions (purchases) of GE shares for treasury	0	[3]	0	[3]
Dividends paid to shareowners	0	[3]	0	[3]
Capital contribution from GE to GECS	0	[3]	9,500	[3]
All other financing activities	(391)	[3]	(604)	[3]
Cash from (used for) financing activities - continuing operations	(26,236)	[3]	(5,990)	[3]
Cash from (used for) financing activities - discontinued operations	0	[3]	0	[3]
Cash from (used for) financing activities	(26,236)	[3]	(5,990)	[3]
Effect of currency exchange rate changes on cash and equivalents	(497)	[3]	(147)	[3]
Increase (decrease) in cash and equivalents	(4,377)	[3]	7,756	[3]
Cash and equivalents at beginning of year	64,540	[3]	37,666	[3]
Cash and equivalents at March 31	60,163	[3]	45,422	[3]
Less cash and equivalents of discontinued operations at March 31	124	[3]	182	[3]
Cash and equivalents of continuing operations at March 31	$60,039	[1]	$45,240	[3]
[1]See accompanying notes. Separate information is shown for "GE" and "Financial Services (GECS)." Transactions between GE and GECS have been eliminated from the "Consolidated" columns.
[2]See Note 3 for other-than-temporary impairment amounts.
[3]See accompanying notes. Separate information is shown for "GE" and "Financial Services (GECS)." Transactions between GE and GECS have been eliminated from the "Consolidated" columns and are discussed in Note 17.
[4]Represents the adding together of all affiliated companies except General Electric Capital Services, Inc. (GECS or financial services), which is presented on a one-line basis.

Summary of Operating Segments

Summary of Operating Segments
	3 Months Ended Mar. 31, 2010
Summary of operating segments
Summary of Operating segments	Summary of Operating Segments General Electric Company and consolidated affiliates Three months ended March 31 (Unaudited) (In millions) 2010 2009 Revenues Energy Infrastructure(a) $ 8,655 $ 9,082 Technology Infrastructure(a) 8,659 9,523 NBC Universal 4,320 3,524 GE Capital(a) 12,331 13,775 Home Business Solutions(a) 1,940 1,924 Total segment revenues 35,905 37,828 Corporate items and eliminations 700 610 Consolidated revenues $ 36,605 $ 38,438 Segment profit(b) Energy Infrastructure(a) $ 1,481 $ 1,318 Technology Infrastructure(a) 1,403 1,702 NBC Universal 199 391 GE Capital(a) 607 1,029 Home Business Solutions(a) 71 45 Total segment profit 3,761 4,485 Corporate items and eliminations (295) (417) GE interest and other financial charges (343) (376) GE provision for income taxes (788) (842) Earnings from continuing operations attributable tothe Company 2,335 2,850 Loss from discontinued operations, net of taxes, attributableto the Company (390) (21) Consolidated net earnings attributable to the Company $ 1,945 $ 2,829 (a)Effective January 1, 2010, we reorganized our segments. We have reclassified prior-period amounts to conform to the current-period presentation. See Note 1 for a description of the reorganization. (b)Segment profit always excludes the effects of principal pension plans, results reported as discontinued operations, earnings attributable to noncontrolling interests of consolidated subsidiaries and accounting changes, and may exclude matters such as charges for restructuring; rationalization and other similar expenses; in-process research and development and certain other acquisition-related charges and balances; technology and product development costs; certain gains and losses from acquisitions or dispositions; and litigation settlements or other charges, responsibility for which preceded the current management team. Segment profit excludes or includes interest and other financial charges and income taxes according to how a particular segment's management is measured excluded in determining segment profit, which we sometimes refer to as "operating profit," for Energy Infrastructure, Technology Infrastructure, NBC Universal and Home Business Solutions; included in determining segment profit, which we sometimes refer to as "net earnings," for GE Capital. See accompanying notes to condensed, consolidated financial statements.

Note 1 Summary of Significant A

Note 1 Summary of Significant Accounting Policies
	3 Months Ended Mar. 31, 2010
Notes to Condensed Consolidated Financial Statements (Unaudited)
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Notes to Condensed, Consolidated Financial Statements (Unaudited) 1. Summary of Significant Accounting Policies The accompanying condensed, consolidated financial statements represent the consolidation of General Electric Company and all companies that we directly or indirectly control, either through majority ownership or otherwise. See Note 1 to the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2009 (2009 Form 10-K), which discusses our consolidation and financial statement presentation. As used in this report on Form 10-Q (Report) and in our Annual Report on Form 10-K, "GE" represents the adding together of all affiliated companies except General Electric Capital Services, Inc. (GECS or financial services), which is presented on a one-line basis; GECS consists of General Electric Capital Services, Inc. and all of its affiliates; and "Consolidated" represents the adding together of GE and GECS with the effects of transactions between the two eliminated. Effective January 1, 2010, we reorganized our segments to better align our Consumer Industrial and Energy businesses for growth. As a result of this reorganization, we created a new segment called Home Business Solutions that includes the Appliances and Lighting businesses from our previous Consumer Industrial segment and the retained portion of the GE Fanuc Intelligent Platforms business of our previous Enterprise Solutions business (formerly within our Technology Infrastructure segment). In addition, the Industrial business of our previous Consumer Industrial segment and the Sensing Inspection Technologies and Digital Energy businesses of our previous Enterprise Solutions business are now part of the Energy business within the Energy Infrastructure segment. The Security business of Enterprise Solutions is reported in Corporate Items and Eliminations for periods prior to its sale in the first quarter of 2010. Also, effective January 1, 2010, the Capital Finance segment was renamed GE Capital and includes all of the continuing operations of General Electric Capital Corporation (GECC). In addition, the Transportation Financial Services business, previously reported in GE Capital Aviation Services (GECAS), is now included in Commercial Lending and Leasing (CLL) and our Consumer business in Italy, previously reported in Consumer, is now included in CLL. GE includes Energy Infrastructure, Technology Infrastructure, NBC Universal and Home Business Solutions. GECS includes GE Capital. We have reclassified certain prior-period amounts to conform to the current-period presentation. Unless otherwise indicated, information in these notes to condensed, consolidated financial statements relates to continuing operations. In the first quarter of 2010, we have included a separate line on the statement of cash flows for the effect of currency exchange rate changes on cash and equivalents. We had previously included the effect of currency exchange rate changes on cash and equivalents in "All other operating activities" for GE and "All other investing activities" for GECS, as the effect was insignificant. Accounting Changes On January 1,

Note 2 Discontinued Operations

Note 2 Discontinued Operations
	3 Months Ended Mar. 31, 2010
Notes to Condensed Consolidated Financial Statements (Unaudited)
2. ASSETS AND LIABILITIES OF BUSINESSES HELD FOR SALE AND DISCONTINUED OPERATIONS	2. Assets and liabilities of Businesses held for sale and Discontinued Operations Assets and Liabilities of Businesses Held for Sale On December 3, 2009, we entered into an agreement with Comcast Corporation to transfer the assets of the NBCU business to a newly formed entity, which will consist of our NBCU businesses and Comcast Corporation's cable networks, regional sports networks, certain digital properties and certain unconsolidated investments. Pursuant to the transaction, we expect to receive $6,500 million in cash ($7.1 billion less certain adjustments based on various events between contract signing and closing) and will own a 49% interest in the newly formed entity. The transaction is subject to receipt of various regulatory approvals and is expected to close within the next year. We also entered into an agreement whereby we will acquire approximately 38% of Vivendi's interest in NBCU for $2,000 million on September 26, 2010, if the transaction described above has not yet closed. Provided the transaction subsequently closes, we will acquire the remaining Vivendi NBCU interest for $3,578 million and make an additional payment of $222 million related to the previously purchased shares. If the entity formation transaction closes before September 26, 2010, we will purchase Vivendi's entire ownership interest in NBCU (20%) for $5,800 million. Prior to the sale, NBCU will borrow approximately $9,100 million from third-party lenders and distribute the cash to us. We expect to realize approximately $8,000 million in cash after debt reduction, transaction fees and the buyout of the Vivendi interest in NBCU. With respect to our 49% interest in the newly formed entity, we will hold redemption rights which, if exercised, cause the entity to purchase half of our ownership interest after 3.5 years and the remaining half after 7 years subject to certain exceptions, conditions and limitations. Our interest will also be subject to call provisions which, if exercised, allow Comcast Corporation to purchase our interest at specified times subject to certain exceptions. The redemption price for such transactions is determined pursuant to a formula specified in the agreement. On March 19, 2010, NBCU entered into a three-year credit agreement and a 364-day bridge loan agreement and on April 30, 2010, issued $4,000 million of senior, unsecured notes with maturities ranging from 2015 to 2040, in connection with the $9,100 million financing described above. At March 31, 2010, NBCU assets and liabilities of $32,786 million and $6,386 million, respectively, were classified as held for sale. The major classes of assets are current receivables ($2,251 million), property, plant and equipment net ($1,874 million), goodwill and other intangible assets net ($22,195 million) and all other assets ($6,341 million), including film and television production costs of $4,197 million. The major classes of liabilities are accounts payable ($443 million), other GE current liabilities ($3,987 million), all other liabilities ($1,138 million) and long-term borrowings ($818 million). At December 31, 2009, we classified the NBCU assets and liabilities of $32,150

Note 3 Investment Securities

Note 3 Investment Securities
	3 Months Ended Mar. 31, 2010
Notes to Condensed Consolidated Financial Statements (Unaudited)
3. INVESTMENT SECURITIES	3. Investment securities The vast majority of our investment securities are classified as available-for-sale and comprise mainly investment-grade debt securities supporting obligations to annuitants and policyholders in our run-off insurance operations and holders of guaranteed investment contracts (GICs) in Trinity, which ceased issuing new investment contracts beginning in the first quarter of 2010, and investment securities held at our global banks. At March 31, 2010 December 31, 2009 Gross Gross Gross Gross Amortized unrealized unrealized Estimated Amortized unrealized unrealized Estimated (In millions) cost gains losses fair value cost gains losses fair value GE Debt U.S. corporate $ 12 $ 0 $ 0 $ 12 $ 12 $ 4 $ (1) $ 15 Equity available-for-sale 16 0 0 16 14 1 0 15 28 0 0 28 26 5 (1) 30 GECS Debt U.S. corporate(a) 22,790 1,009 (571) 23,228 23,410 981 (756) 23,635 State and municipal 2,130 43 (210) 1,963 2,006 34 (246) 1,794 Residential mortgage- backed(b) 3,684 84 (574) 3,194 4,005 79 (766) 3,318 Commercial mortgage-backed 3,070 142 (340) 2,872 3,053 89 (440) 2,702 Asset-backed 2,925 77 (269) 2,733 2,994 48 (305) 2,737 Corporate non-U.S. 2,578 85 (95) 2,568 1,831 59 (50) 1,840 Government non-U.S. 2,347 68 (36) 2,379 2,902 63 (29) 2,936 U.S. government and federal agency 1,395 47 (10) 1,432 2,628 46 0 2,674 Retained interests(c) 62 3 (22) 43 8,479 392 (40) 8,831 Equity Available-for-sale 550 149 (14) 685 489 242 (5) 726 Trading 426 0 0 426 720 0 0 720 41,957 1,707 (2,141) 41,523 52,517 2,033 (2,637) 51,913 Eliminations (2) 0 0 (2) (2) 0 0 (2) Total $ 41,983 $ 1,707 $ (2,141) $ 41,549 $ 52,541 $ 2,038 $ (2,638) $ 51,941 (a)Included $65 million of U.S corporate debt securities at March 31, 2010, related to our adoption of ASU 2009-16 17 on January 1, 2010. (b)Substantially collateralized by U.S. mortgages. (c)Included $1,918 million of retained interests at December 31, 2009 accounted for at fair value in accordance with ASC 815, Derivatives and Hedging. See Note 16. The fair value of investment securities decreased to $41,549 million at March 31, 2010, from $51,941 million at December 31, 2009, primarily driven by a decrease in retained interests as a result of our adoption of ASU 2009-16 17 and maturities, partially offset by improved market conditions. The following tables present the estimated fair values and gross unrealized losses of our available-for-sale investment securities. In loss position for Less than 12 months 12 months or more Gross Gross Estimated unrealized Estimated unrealized (In millions) fair value losses fair value losses March 31, 2010 Debt U.S. corporate $ 3,906 $ (74) $ 4,145 $ (497) State and municipal 373 (15) 698 (195) Residential mortgage-backed 74 (6) 1,512 (568)

Note 4 Inventories

Note 4 Inventories
	3 Months Ended Mar. 31, 2010
Notes to Condensed Consolidated Financial Statements (Unaudited)
4. INVENTORIES	4. Inventories Inventories consisted of the following. At March 31, December 31, (In millions) 2010 2009 Raw materials and work in process $ 7,341 $ 7,581 Finished goods 4,148 4,176 Unbilled shipments 767 759 12,256 12,516 Less revaluation to LIFO (505) (529) Total $ 11,751 $ 11,987

Note 5 GECS Financing Receivabl

Note 5 GECS Financing Receivables and Allowance for Losses on Financing Receivables
	3 Months Ended Mar. 31, 2010
Notes to Condensed Consolidated Financial Statements (Unaudited)
5. GECS FINANCING RECEIVABLES AND ALLOWANCE FOR LOSSES ON FINANCING RECEIVABLES	5. GECS Financing Receivables and Allowance for Losses on Financing Receivables GECS financing receivables net, consisted of the following. At March 31, January 1, December 31, (In millions) 2010 2010(a) 2009 Loans, net of deferred income $ 313,792 $ 331,710 $ 290,586 Investment in financing leases, net of deferred income 51,927 55,209 54,445 365,719 386,919 345,031 Less allowance for losses (9,534) (9,805) (8,105) Financing receivables net(b) $ 356,185 $ 377,114 $ 336,926 (a)Reflects the effects of our adoption of ASU 2009-16 17 on January 1, 2010. (b)Financing receivables at March 31, 2010 and December 31, 2009 included $1,911 million and $2,704 million, respectively, relating to loans that had been acquired in a transfer but have been subject to credit deterioration since origination per ASC 310, Receivables. Effective January 1, 2009, loans acquired in a business acquisition are recorded at fair value, which incorporates our estimate at the acquisition date of the credit losses over the remaining life of the portfolio. As a result, the allowance for loan losses is not carried over at acquisition. This may result in lower reserve coverage ratios prospectively. Details of financing receivables net follow. At March 31, January 1, December 31, (In millions) 2010 2010(a) 2009 CLL(b) Americas $ 96,553 $ 99,666 $ 87,496 Europe 39,980 43,403 41,455 Asia 12,664 13,159 13,202 Other 2,791 2,836 2,836 151,988 159,064 144,989 Consumer(b) Non-U.S. residential mortgages 52,722 58,345 58,345 Non-U.S. installment and revolving credit 24,256 24,976 24,976 U.S. installment and revolving credit 43,330 47,171 23,190 Non-U.S. auto 12,025 13,344 13,344 Other 10,898 11,688 11,688 143,231 155,524 131,543 Real Estate 47,586 48,673 44,841 Energy Financial Services 7,854 7,790 7,790 GECAS(b) 12,615 13,254 13,254 Other(c) 2,445 2,614 2,614 365,719 386,919 345,031 Less allowance for losses (9,534) (9,805) (8,105) Total $ 356,185 $ 377,114 $ 336,926 (a)Reflects the effects of our adoption of ASU 2009-16 17 on January 1, 2010. (b)During the first quarter of 2010, we transferred the Transportation Financial Services business from GECAS to CLL and the Consumer business in Italy from Consumer to CLL. Prior-period amounts were reclassified to conform to the current-period presentation. (c)Consisted of loans and financing leases related to certain consolidated, liquidating securitization entities. Individually impaired loans are defined by U.S. generally accepted accounting principles (GAAP) as larger balance or restructured loans for which it is probable that the lender will be unable to collect all amounts due according to original contractual terms of the loan agreement. The vast majority of our consumer and a portion of our CLL nonearning receivables are excluded from this definition, as they represent smaller balance homogeneous loans that we evaluate collectively by portfolio for impairment. An analysis of impaired loans and specific reserves follows. At March 31,

Note 6 Property, Plant And Equi

Note 6 Property, Plant And Equipment
	3 Months Ended Mar. 31, 2010
Notes to Condensed Consolidated Financial Statements (Unaudited)
6. PROPERTY, PLANT AND EQUIPMENT	6. Property, Plant and Equipment Property, plant and equipment net, consisted of the following. At March 31, December 31, (In millions) 2010 2009 Original cost $ 112,450 $ 113,315 Less accumulated depreciation and amortization (44,434) (44,103) Property, plant and equipment net $ 68,016 $ 69,212

Note 7 Goodwill And Other Intan

Note 7 Goodwill And Other Intangible Assets
	3 Months Ended Mar. 31, 2010
Notes to Condensed Consolidated Financial Statements (Unaudited)
7. GOODWILL AND OTHER INTANGIBLE ASSETS	7. Goodwill and Other Intangible Assets Goodwill and other intangible assets net, consisted of the following. At March 31, December 31, (In millions) 2010 2009 Goodwill $ 64,910 $ 65,574 Other intangible assets Intangible assets subject to amortization $ 11,440 $ 11,824 Indefinite-lived intangible assets(a) 105 105 Total $ 11,545 $ 11,929 (a)Indefinite-lived intangible assets principally comprised trademarks and tradenames. Changes in goodwill balances follow. Dispositions, Balance currency Balance January 1, exchange March 31, (In millions) 2010 Acquisitions and other 2010 Energy Infrastructure $ 12,777 $ 0 $ (9) $ 12,768 Technology Infrastructure 22,648 34 (53) 22,629 GE Capital 28,961 (45) (417) 28,499 Home Business Solutions 1,188 0 (174) 1,014 Total $ 65,574 $ (11) $ (653) $ 64,910 Goodwill balances decreased $664 million in the first quarter of 2010, primarily as a result of the stronger U.S. dollar ($625 million). Intangible Assets Subject to Amortization At March 31, 2010 December 31, 2009 Gross Gross carrying Accumulated carrying Accumulated (In millions) amount amortization Net amount amortization Net Customer-related $ 6,025 $ (1,454) $ 4,571 $ 6,044 $ (1,392) $ 4,652 Patents, licenses and trademarks 5,095 (2,204) 2,891 5,198 (2,177) 3,021 Capitalized software 6,580 (4,211) 2,369 6,549 (4,127) 2,422 Lease valuations 1,703 (806) 897 1,754 (793) 961 Present value of future profits 887 (442) 445 921 (470) 451 All other 640 (373) 267 745 (428) 317 Total $ 20,930 $ (9,490) $ 11,440 $ 21,211 $ (9,387) $ 11,824 Consolidated amortization related to intangible assets subject to amortization was $406 million and $460 million for the three months ended March 31, 2010 and 2009, respectively.

Note 8 GECS Borrowings

Note 8 GECS Borrowings
	3 Months Ended Mar. 31, 2010
Notes to Condensed Consolidated Financial Statements (Unaudited)
8. GECS BORROWINGS AND BANK DEPOSITS	8. GECS Borrowings and Bank Deposits GECS borrowings are summarized in the following table. At (In millions) March 31, December 31, 2010 2009 Short-term borrowings Commercial paper U.S. $ 36,635 $ 37,775 Non-U.S. 9,396 9,525 Current portion of long-term borrowings(a)(b)(c) 64,584 69,883 GE Interest Plus notes(d) 8,326 7,541 Other(c) 5,516 6,413 GECS short-term borrowings $ 124,457 $ 131,137 Long-term borrowings Senior unsecured notes(a)(b) $ 285,643 $ 305,306 Subordinated notes(e) 2,542 2,686 Subordinated debentures(f) 7,335 7,647 Other(c)(g) 11,582 10,752 GECS long-term borrowings $ 307,102 $ 326,391 Non-recourse borrowings of consolidated securitization entities(h) $ 36,780 $ 3,883 Bank deposits(i) $ 38,310 $ 38,923 Total borrowings and bank deposits $ 506,649 $ 500,334 (a)GECC had issued and outstanding $59,045 million and $59,336 million of senior, unsecured debt that was guaranteed by the Federal Deposit Insurance Corporation (FDIC) under the Temporary Liquidity Guarantee Program at March 31, 2010 and December 31, 2009, respectively. Of the above amounts $14,000 million and $5,841 million is included in current portion of long-term borrowings at March 31, 2010 and December 31, 2009, respectively. GECC and GE are parties to an Eligible Entity Designation Agreement and GECC is subject to the terms of a Master Agreement, each entered into with the FDIC. The terms of these agreements include, among other things, a requirement that GE and GECC reimburse the FDIC for any amounts that the FDIC pays to holders of GECC debt that is guaranteed by the FDIC. (b)Included in total long-term borrowings was $3,024 million and $3,138 million of obligations to holders of guaranteed investment contracts at March 31, 2010 and December 31, 2009, respectively, of which GECC could be required to repay up to approximately $3,000 million if its long-term credit rating were to fall below AA/Aa3 or its short-term credit rating were to fall below A1+/P1. (c)Included $12,163 million and $10,604 million of secured funding at March 31, 2010 and December 31, 2009, respectively, of which $5,163 million and $5,667 million is non-recourse to GECS at March 31, 2010 and December 31, 2009, respectively. (d)Entirely variable denomination floating rate demand notes. (e)Included $417 million of subordinated notes guaranteed by GE at both March 31, 2010 and December 31, 2009. (f)Subordinated debentures receive rating agency equity credit and were hedged at issuance to the U.S. dollar equivalent of $7,725 million. (g)Included $1,714 million and $1,649 million of covered bonds at March 31, 2010 and December 31, 2009, respectively. If the short-term credit rating of GECC were reduced below A1/P1, GECC would be required to partially cash collateralize these bonds in an amount up to $744 million. (h)Included at March 31, 2010 was $2,248 million of commercial paper, $15,774 million of current portion of long-term borrowings and $18,758 million of long-term borrowings related to former QSPEs consolidated on January 1, 2010 upon our adoption of ASU 2009-16 1

Note 9 Postretirement Benefits

Note 9 Postretirement Benefits Plans
	3 Months Ended Mar. 31, 2010
Notes to Condensed Consolidated Financial Statements (Unaudited)
9. POSTRETIREMENT BENEFIT PLANS	9. Postretirement Benefit Plans We sponsor a number of pension and retiree health and life insurance benefit plans. Principal pension plans include the GE Pension Plan and the GE Supplementary Pension Plan. Principal retiree benefit plans generally provide health and life insurance benefits to employees who retire under the GE Pension Plan with 10 or more years of service. Other pension plans include the U.S. and non-U.S. pension plans with pension assets or obligations greater than $50 million. Smaller pension plans and other retiree benefit plans are not material individually or in the aggregate. The effect on operations of the pension plans follows. Principal Pension Plans Other Pension Plans Three months ended March 31 Three months ended March 31 (In millions) 2010 2009 2010 2009 Expected return on plan assets $ (1,086) $ (1,126) $ (130) $ (106) Service cost for benefits earned 292 353 82 83 Interest cost on benefit obligation 675 669 124 112 Prior service cost amortization 60 81 4 2 Net actuarial loss amortization 333 90 59 29 Pension plans cost $ 274 $ 67 $ 139 $ 120 The effect on operations of principal retiree health and life insurance plans follows. Principal Retiree Health and Life Insurance Plans Three months ended March 31 (In millions) 2010 2009 Expected return on plan assets $ (29) $ (32) Service cost for benefits earned 58 74 Interest cost on benefit obligation 175 177 Prior service cost amortization 158 168 Net actuarial gain amortization (6) (27) Retiree benefit plans cost $ 356 $ 360

Note 10 Income Taxes

Note 10 Income Taxes
	3 Months Ended Mar. 31, 2010
Notes to Condensed Consolidated Financial Statements (Unaudited)
10. INCOME TAXES	10. Income Taxes The balance of "unrecognized tax benefits," the amount of related interest and penalties we have provided and what we believe to be the range of reasonably possible changes in the next 12 months, were: At March 31, December 31, (In millions) 2010 2009 Unrecognized tax benefits $ 6,916 $ 7,251 Portion that, if recognized, would reduce tax expense and effective tax rate(a) 4,632 4,918 Accrued interest on unrecognized tax benefits 1,435 1,369 Accrued penalties on unrecognized tax benefits 99 99 Reasonably possible reduction to the balance of unrecognized tax benefits in succeeding 12 months 0-2,100 0-1,800 Portion that, if recognized, would reduce tax expense and effective tax rate(a) 0-1,600 0-1,400 (a)Some portion of such reduction might be reported as discontinued operations. The IRS is currently auditing our consolidated income tax returns for 2003-2007. In addition, certain other U.S. tax deficiency issues and refund claims for previous years remain unresolved. It is reasonably possible that the 2003-2005 U.S. audit cycle will be completed during the next 12 months, which could result in a decrease in our balance of "unrecognized tax benefits" that is, the aggregate tax effect of differences between tax return positions and the benefits recognized in our financial statements. We believe that there are no other jurisdictions in which the outcome of unresolved issues or claims is likely to be material to our results of operations, financial position or cash flows. We further believe that we have made adequate provision for all income tax uncertainties. GE and GECS file a consolidated U.S. federal income tax return. The GECS provision for current tax expense includes its effect on the consolidated return. The effect of GECS on the consolidated liability is settled in cash as GE tax payments are due. During the first quarter of 2009, following the change in our external credit ratings, funding actions taken and review of our operations, liquidity and funding, we determined that undistributed prior-year earnings of non-U.S. subsidiaries of GECS, on which we had previously provided deferred U.S. taxes, would be indefinitely reinvested outside the U.S. This change increased the amount of prior-year earnings indefinitely reinvested outside the U.S. by approximately $2 billion, resulting in an income tax benefit of $700 million in the first quarter of 2009.

Note 11 Shareowners' Equity

Note 11 Shareowners' Equity
	3 Months Ended Mar. 31, 2010
Notes to Condensed Consolidated Financial Statements (Unaudited)
11. SHAREOWNERS' EQUITY	11. Shareowners' Equity A summary of increases (decreases) in GE shareowners' equity that did not result directly from transactions with shareowners, net of income taxes, follows. Three months ended March 31 (In millions) 2010 2009 Net earnings attributable to the Company $ 1,945 $ 2,829 Investment securities net 93 (635) Currency translation adjustments net (2,412) (4,060) Cash flow hedges net 402 717 Benefit plans net 398 239 Total $ 426 $ (910) On January 1, 2010, we adopted ASU 2009-16 17. This resulted in a reduction of GE shareowners' equity primarily related to the reversal of a portion of previously recognized securitization gains. This adjustment is reflected as a cumulative effect adjustment of the opening balances of retained earnings ($1,708 million) and accumulated other comprehensive income ($265 million). See Notes 1 and 16 for additional information. Changes to noncontrolling interests during the first quarter of 2010 resulted from net earnings $61 million, dividends $(185) million, AOCI $1 million and other $6 million. Changes to the individual components of AOCI attributable to noncontrolling interests were insignificant. Changes to noncontrolling interests during the first quarter of 2009 resulted from net earnings $85 million, dividends $(199) million, the effects of deconsolidating Penske Truck Leasing Co., L.P. (PTL) $(331) million, AOCI $(33) million and other $(12) million. Changes to the individual components of AOCI attributable to noncontrolling interests were insignificant.

Note 12 GECS Revenues From Serv

Note 12 GECS Revenues From Services
	3 Months Ended Mar. 31, 2010
Notes to Condensed Consolidated Financial Statements (Unaudited)
12. GECS REVENUES FROM SERVICES	12. GECS Revenues from Services GECS revenues from services are summarized in the following table. Three months ended March 31 (In millions) 2010 2009 Interest on loans(a) $ 5,726 $ 5,100 Equipment leased to others 2,761 3,485 Fees(a) 1,265 1,160 Investment income(a)(b) 568 665 Financing leases(a) 756 908 Premiums earned by insurance activities 489 510 Net securitization gains(a) 326 Real estate investments 277 347 Associated companies 597 165 Other items(c) 451 1,518 Total $ 12,890 $ 14,184 (a)On January 1, 2010, we adopted ASU 2009-16 17 which required us to consolidate substantially all of our former QSPEs. As a result, 2010 GECS Revenues from services include interest and fee income from these entities, which were not presented on a consolidated basis in 2009. Also beginning in 2010, we will no longer record gains for substantially all of our securitizations as they are recorded as on-book financings. See Note 16. (b)Included net other-than-temporary impairments on investment securities of $79 million and $232 million in the first quarters of 2010 and 2009, respectively. See Note 3. (c)Included a gain on the sale of a limited partnership interest in PTL and a related gain on the remeasurement of the retained investment to fair value totaling $296 million in the first quarter of 2009.

Note 13 Earnings Per Share Info

Note 13 Earnings Per Share Information
	3 Months Ended Mar. 31, 2010
Notes to Condensed Consolidated Financial Statements (Unaudited)
13. EARNINGS PER SHARE INFORMATION	13. Earnings Per Share Information GE's authorized common stock consists of 13,200,000,000 shares having a par value of $0.06 each. Information related to the calculation of earnings per share follows. Three months ended March 31 2010 2009 (In millions; per-share amounts in dollars) Diluted Basic Diluted Basic Amounts attributable to the Company: Consolidated Earnings from continuing operations for per-share calculation(a) $ 2,316 $ 2,316 $ 2,841 $ 2,840 Preferred stock dividends declared (75) (75) (75) (75) Earnings from continuing operations attributable to common shareowners for per-share calculation $ 2,241 $ 2,241 $ 2,766 $ 2,765 Loss from discontinued operations for per-share calculation (390) (390) (21) (21) Net earnings attributable to GE common shareowners for per-share calculation 1,852 1,852 2,745 2,745 Average equivalent shares Shares of GE common stock outstanding 10,671 10,671 10,564 10,564 Employee compensation-related shares, including stock options 16 0 0 0 Total average equivalent shares 10,687 10,671 10,564 10,564 Per-share amounts Earnings from continuing operations $ 0.21 $ 0.21 $ 0.26 $ 0.26 Loss from discontinued operations (0.04) (0.04) 0 0 Net earnings 0.17 0.17 0.26 0.26 (a)Included an insignificant amount of dividend equivalents in each of the periods presented and an insignificant amount related to accretion of redeemable securities for the three months ended March 31, 2010. For the three months ended March 31, 2010 and 2009, there were approximately 308 million and 344 million, respectively, of outstanding stock awards that were not included in the computation of diluted earnings per share because their effect was anti-dilutive. Earnings-per-share amounts are computed independently for earnings from continuing operations, earnings (loss) from discontinued operations and net earnings. As a result, the sum of per-share amounts from continuing operations and discontinued operations may not equal the total per-share amounts for net earnings.

Note 14 Fair Value Measurements

Note 14 Fair Value Measurements
	3 Months Ended Mar. 31, 2010
Notes to Condensed Consolidated Financial Statements (Unaudited)
14. FAIR VALUE MEASUREMENTS	14. Fair Value Measurements For a description on how we estimate fair value, see Note 1 to the consolidated financial statements in our 2009 Form 10-K for information. The following tables present our assets and liabilities measured at fair value on a recurring basis. Included in the tables are investment securities of $26,426 million and $25,729 million at March 31, 2010 and December 31, 2009, respectively, primarily supporting obligations to annuitants and policyholders in our run-off insurance operations, and $6,440 million and $6,629 million at March 31, 2010 and December 31, 2009, respectively, supporting obligations to holders of GICs in Trinity, which ceased issuing new investment contracts beginning in the first quarter of 2010, and investment securities held at our global banks. Such securities are mainly investment grade. Netting (In millions) Level 1 (a) Level 2 (a) Level 3 (b) adjustment (c) Net balance March 31, 2010 Assets Investment securities Debt U.S. corporate $ 709 $ 19,534 $ 2,997 $ 0 $ 23,240 State and municipal 0 1,720 243 0 1,963 Residential mortgage-backed 0 3,061 133 0 3,194 Commercial mortgage-backed 0 2,756 116 0 2,872 Asset-backed 0 871 1,862 0 2,733 Corporate non-U.S. 148 1,217 1,203 0 2,568 Government non-U.S. 1,026 1,205 148 0 2,379 U.S. government and federal agency 60 1,103 269 0 1,432 Retained interests(d) 0 0 43 0 43 Equity Available-for-sale 550 130 19 0 699 Trading 426 0 0 0 426 Derivatives(e) 0 10,541 658 (4,187) 7,012 Other(f) 0 0 896 0 896 Total $ 2,919 $ 42,138 $ 8,587 $ (4,187) $ 49,457 Liabilities Derivatives $ 0 $ 7,236 $ 508 $ (4,195) $ 3,549 Other(g) 0 923 0 0 923 Total $ 0 $ 8,159 $ 508 $ (4,195) $ 4,472 December 31, 2009 Assets Investment securities Debt U.S. corporate $ 723 $ 19,669 $ 3,258 $ 0 $ 23,650 State and municipal 0 1,621 173 0 1,794 Residential mortgage-backed 0 3,195 123 0 3,318 Commercial mortgage-backed 0 2,647 55 0 2,702 Asset-backed 0 860 1,877 0 2,737 Corporate non-U.S. 159 692 989 0 1,840 Government non-U.S. 1,277 1,483 176 0 2,936 U.S. government and federal agency 85 2,307 282 0 2,674 Retained interests 0 0 8,831 0 8,831 Equity Available-for-sale 536 184 19 0 739 Trading 720 0 0 0 720 Derivatives(e) 0 11,056 804 (3,851) 8,009 Other(f) 0 0 1,006 0 1,006 Total $ 3,500 $ 43,714 $ 17,593 $ (3,851) $ 60,956 Liabilities Derivatives $ 0 $ 7,295 $ 222 $ (3,860) $ 3,657 Other(g) 0 798 0 0 798 Total $ 0 $ 8,093 $ 222 $ (3,860) $ 4,455 (a)Transfers between Level 1 and 2 were insignificant. (b)Level 3 investment securities valued using non-binding broker quotes totaled $1,006 million and $1,055 million at March 31, 2010 and December 31, 2009, respectively, and were c

Note 15 Financial Instruments

Note 15 Financial Instruments
	3 Months Ended Mar. 31, 2010
Notes to Condensed Consolidated Financial Statements (Unaudited)
15. INTERIM DISCLOSURE ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS	15. Financial Instruments The following table provides information about the assets and liabilities not carried at fair value in our Statement of Financial Position. Consistent with ASC 825, Financial Instruments, the table excludes financing leases and non-financial assets and liabilities. Apart from certain of our borrowings and certain marketable securities, few of the instruments identified below are actively traded and their fair values must often be determined using financial models. Realization of the fair value of these instruments depends upon market forces beyond our control, including marketplace liquidity. For a description on how we estimate fair value, see Note 22 to the consolidated financial statements in our 2009 Form10-K. At March 31, 2010 December 31, 2009 Assets (liabilities) Assets (liabilities) Carrying Carrying Notional amount Estimated Notional amount Estimated (In millions) amount (net) fair value amount (net) fair value GE Assets Investments and notes receivable $ (a) $ 400 $ 400 $ (a) $ 412 $ 412 Liabilities Borrowings (a) (12,288) (13,050) (a) (12,185) (12,757) GECS Assets Loans(b) (a) 304,808 297,555 (a) 283,135 269,283 Other commercial mortgages (a) 1,100 1,155 (a) 1,151 1,198 Loans held for sale (a) 366 368 (a) 1,303 1,343 Other financial instruments(c) (a) 2,161 2,480 (a) 2,096 2,385 Liabilities Borrowings and bank deposits(b)(d) (a) (506,649) (512,311) (a) (500,334) (506,148) Investment contract benefits (a) (3,896) (4,238) (a) (3,940) (4,397) Guaranteed investment contracts (a) (8,051) (8,028) (a) (8,310) (8,394) Insurance credit life(e) 1,615 (81) (55) 1,595 (80) (53) (a)These financial instruments do not have notional amounts. (b)Amounts at March 31, 2010 reflect our adoption of ASU 2009-16 17 on January 1, 2010. See Notes 5, 8 and 16. (c)Principally cost method investments. (d)Fair values exclude interest rate and currency derivatives designated as hedges of borrowings. Had they been included, the fair value of borrowings at March 31, 2010 and December 31, 2009 would have been reduced by $2,947 million and $2,856 million, respectively. (e)Net of reinsurance of $2,650 million and $2,800 million at March 31, 2010 and December 31, 2009, respectively. Loan Commitments Notional amount at March 31, December 31, (in millions) 2010 2009 Ordinary course of business lending commitments (a)(b) $ 6,324 $ 6,676 Unused revolving credit lines(c) Commercial 30,349 31,803 Consumer principally credit cards 245,802 231,880 (a)Excluded investment commitments of $2,514 million and $2,659 million as of March 31, 2010 and December 31, 2009, respectively. (b)Included a $937 million and $972 million commitment as of March 31, 2010 and December 31, 2009, respectively, associated with a secured financing arrangement that can increase to a maximum of $5,000 million and $4,998 million based on the asset volume under the arrangement as of March 3
15. DERIVATES AND HEDGING	Derivatives and hedging As a matter of policy, we use derivatives for risk management purposes, and we do not use derivatives for speculative purposes. A key risk management objective for our financial services businesses is to mitigate interest rate and currency risk by seeking to ensure that the characteristics of the debt match the assets they are funding. If the form (fixed versus floating) and currency denomination of the debt we issue do not match the related assets, we typically execute derivatives to adjust the nature and tenor of funding to meet this objective. The determination of whether we enter into a derivative transaction or issue debt directly to achieve this objective depends on a number of factors, including customer needs for specific types of financing, and market related factors that affect the type of debt we can issue. Of the outstanding notional amount of $330,000 million, approximately 87% or $288,000 million, is associated with reducing or eliminating the interest rate, currency or market risk between financial assets and liabilities in our financial services businesses. The remaining derivative activities primarily relate to hedging against adverse changes in currency exchange rates and commodity prices related to anticipated sales and purchases, providing certain derivatives and/or support arrangements to our customers, and contracts containing certain clauses which meet the accounting definition of a derivative. The instruments used in these activities are designated as hedges when practicable. In certain cases, the hedged item is already recorded in earnings currently, such as when we hedge a recognized foreign currency transaction (e.g., a receivable or payable) with a derivative. In such instances, hedge accounting is not necessary and the derivatives are classified as freestanding. The following table provides information about the fair value of our derivatives, by contract type, separating those accounted for as hedges and those that are not. At March 31, 2010 At December 31, 2009 Fair value Fair value (In millions) Assets Liabilities Assets Liabilities Derivatives accounted for as hedges Interest rate contracts $ 5,121 $ 3,255 $ 4,477 $ 3,469 Currency exchange contracts 3,862 2,909 4,273 2,361 Other contracts 17 7 16 4 9,000 6,171 8,766 5,834 Derivatives not accounted for as hedges Interest rate contracts 396 790 977 889 Currency exchange contracts 1,269 668 1,639 658 Other contracts 534 115 478 136 2,199 1,573 3,094 1,683 Netting adjustment(a) (4,187) (4,195) (3,851) (3,860) Total $ 7,012 $ 3,549 $ 8,009 $ 3,657 Derivatives are classified in the captions "All other assets" and "All other liabilities" in our financial statements. (a)The netting of derivative receivables and payables is permitted when a legally enforceable master netting agreement exists. Amounts included fair value adjustments related to our own and counterparty non-performance risk. At March 31, 2010 and December 31, 2009, the cumulative adjustment for non-performance risk was a gain of $8 million and $

Note 16 Off-Balance Sheet Arran

Note 16 Off-Balance Sheet Arrangements
	3 Months Ended Mar. 31, 2010
Notes to Condensed Consolidated Financial Statements (Unaudited)
16. VARIABLE INTEREST ENTITIES	16. Variable Interest Entities We securitize financial assets and arrange other forms of asset-backed financing in the ordinary course of business. The securitization transactions we engage in are similar to those used by many financial institutions. Beyond improving returns, these securitization transactions serve as alternative funding sources for a variety of diversified lending and securities transactions. Historically, we have used both GE-supported and third-party VIEs to execute off-balance sheet securitization transactions funded in the commercial paper and term markets. The largest group of VIEs that we are involved with are QSPEs, which under guidance in effect through December 31, 2009 were excluded from the scope of consolidation standards based on their characteristics. Except as noted below, investors in these entities only have recourse to the assets owned by the entity and not to our general credit. We do not have implicit support arrangements with any VIE or QSPE. We did not provide non-contractual support (for previously transferred financing receivables) to any VIE or QSPE in 2010 or 2009. On January 1, 2010, we adopted FASB ASU 2009-16 17, which amended ASC 860, Transfers and Servicing, and ASC 810, Consolidation, respectively. These amendments eliminated the scope exception for QSPEs and required that all such entities be evaluated for consolidation as VIEs, which resulted in the consolidation of all of our sponsored QSPEs. Among other changes, the amendments to ASC 810 replaced the existing quantitative approach for identifying the party that should consolidate a VIE, which was based on exposure to a majority of the risks and rewards, with a qualitative approach, based on determination of which party has the power to direct the most economically significant activities of the entity. The revised guidance will sometimes change the composition of entities that meet the definition of a VIE and the determination about which party should consolidate a VIE, as well as requiring the latter to be evaluated continuously. As of January 1, 2010 and subsequently, we evaluated all entities that fall within the scope of the amended ASC 810 to determine whether we were required to consolidate or deconsolidate them. In addition to the securitization QSPEs described above, we were required to consolidate assets of VIEs related to direct investments in entities that hold loans and fixed income securities, a media joint venture and a small number of companies to which we have extended loans in the ordinary course of business and have subsequently been subject to a TDR. The incremental effect of these entities on our total assets and liabilities, net of our investment in them, was an increase of approximately $31,097 million and $33,042 million, respectively. There also was a net reduction of total equity (including noncontrolling interests) of approximately $1,945 million, principally related to the reversal of previously recognized securitization gains as a cumulative effect adjustment to retained earnings. The assets of QSPEs that we consolidated were $29,792 million, net of our existing retained interests of $8,782 million, a

Note 17 Intercompany Transactio

Note 17 Intercompany Transactions
	3 Months Ended Mar. 31, 2010
Notes to Condensed Consolidated Financial Statements (Unaudited)
17. INTERCOMPANY TRANSACTIONS	17. Intercompany Transactions Effects of transactions between related companies are eliminated and consist primarily of capital contributions from GE to GECS; GE customer receivables sold to GECS; GECS services for trade receivables management and material procurement; buildings and equipment (including automobiles) leased between GE and GECS; information technology (IT) and other services sold to GECS by GE; aircraft engines manufactured by GE that are installed on aircraft purchased by GECS from third-party producers for lease to others; and various investments, loans and allocations of GE corporate overhead costs. These intercompany transactions are reported in the GE and GECS columns of our financial statements, but are eliminated in deriving our consolidated financial statements. Effects of these eliminations on our consolidated cash flows from operating, investing and financing activities include the following. Net decrease (increase) in GE customer receivables sold to GECS of $22 million and $(377) million have been eliminated from consolidated cash from operating and investing activities for the three months ended March 31, 2010 and 2009, respectively. A capital contribution from GE to GECS of $9,500 million has been eliminated from consolidated cash from investing and financing activities for the three months ended March 31, 2009. There were no such capital contributions for the three months ended March 31, 2010. Eliminations of intercompany borrowings (includes GE investment in GECS short-term borrowings, such as commercial paper) of $17 million and $1,145 million have been eliminated from financing activities for the three months ended March 31, 2010 and 2009, respectively. Other reclassifications and eliminations of $435 million and $593 million have been eliminated from consolidated cash from operating activities and $(351) million and $(886) million have been eliminated from consolidated cash from investing activities for the three months ended March 31, 2010 and 2009, respectively.