Document_and_Entity_Informatio
Document and Entity Information (USD $) | 3 Months Ended |
In Billions, except Share data, unless otherwise specified | Mar. 31, 2015 |
Document and Entity Information [Abstract] | |
Document Type | 10-Q |
Document Period End Date | 31-Mar-15 |
Amendment Flag | FALSE |
Entity Registrant Name | General Electric Company |
Trading Symbol | GE |
Entity Central Index Key | 40545 |
Current Fiscal Year End Date | -19 |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 10,075,929,000 |
Document Fiscal Period Focus | Q1 |
Document Fiscal Year Focus | 2015 |
Entity Public Float | $261.10 |
Entity Well-known Seasoned Issuer | Yes |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Statement_of_Earnings
Statement of Earnings (USD $) | 3 Months Ended | |||
In Millions, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | ||
Revenues and other income | ||||
Sales of goods | $16,600 | $16,941 | ||
Sales of services | 7,084 | 6,909 | ||
Other income | 142 | 196 | ||
GECC earnings from continuing operations | 0 | 0 | ||
GECC revenues from services (Note 12) | 5,530 | 9,502 | ||
Total revenues and other income | 29,356 | 33,548 | ||
Costs and Expenses | ||||
Cost of goods sold | 13,261 | 13,713 | ||
Cost of services sold | 4,905 | 4,809 | ||
Interest and other financial charges | 1,930 | 2,141 | ||
Investment contracts, insurance losses and insurance annuity benefits | 616 | 620 | ||
Provision for losses on financing receivables (Note 5) | 4,859 | 984 | ||
Other costs and expenses | 8,733 | 7,962 | ||
Total costs and expenses | 34,304 | 30,229 | ||
Earnings (loss) from continuing operations before income taxes | -4,948 | 3,319 | ||
Benefit (provision) for income taxes | -6,458 | -619 | ||
Earnings from continuing operations | -11,406 | 2,700 | ||
(Earnings) loss from discontinued operations, net of taxes (Note 2) | -2,202 | 252 | ||
Net earnings (loss) | -13,608 | 2,952 | ||
Less net earnings (loss) attributable to noncontrolling interests | -35 | -47 | ||
Net earnings attributable to the Company | -13,573 | 2,999 | ||
Preferred stock dividends declared | 0 | 0 | ||
Net earnings attributable to GE common shareowners | -13,573 | 2,999 | ||
Amounts attributable to GE common shareowners | ||||
Earnings from continuing operations | -11,406 | 2,700 | ||
Less net earnings (loss) attributable to noncontrolling interests | -35 | -47 | ||
Earnings from continuing operations attributable to the Company | -11,371 | 2,747 | ||
GECC preferred stock dividends declared | 0 | 0 | ||
Earnings from continuing operations attributable to GE common shareowners | -11,371 | 2,747 | ||
Earnings (loss) from discontinued operations for per-share calculation | -2,202 | 252 | ||
Net earnings attributable to GE common shareowners | -13,573 | 2,999 | ||
Earnings From Continuing Operations Per Share [Abstract] | ||||
Diluted earnings per share | ($1.13) | $0.27 | ||
Basic earnings per share | ($1.13) | $0.27 | ||
Net earnings | ||||
Diluted earnings per share | ($1.35) | $0.30 | ||
Basic earnings per share | ($1.35) | $0.30 | ||
Dividends declared per common share | $0.23 | $0.22 | ||
GE | ||||
Revenues and other income | ||||
Sales of goods | 16,648 | [1] | 16,988 | [1] |
Sales of services | 7,192 | [1] | 7,023 | [1] |
Other income | 52 | [1] | 161 | [1] |
GECC earnings from continuing operations | -12,544 | [1] | 1,693 | [1] |
GECC revenues from services (Note 12) | 0 | [1] | 0 | [1] |
Total revenues and other income | 11,348 | [1] | 25,865 | [1] |
Costs and Expenses | ||||
Cost of goods sold | 13,312 | [1] | 13,762 | [1] |
Cost of services sold | 5,013 | [1] | 4,923 | [1] |
Interest and other financial charges | 389 | [1] | 365 | [1] |
Investment contracts, insurance losses and insurance annuity benefits | 0 | [1] | 0 | [1] |
Provision for losses on financing receivables (Note 5) | 0 | [1] | 0 | [1] |
Other costs and expenses | 3,825 | [1] | 3,808 | [1] |
Total costs and expenses | 22,539 | [1] | 22,858 | [1] |
Earnings (loss) from continuing operations before income taxes | -11,191 | [1] | 3,007 | [1] |
Benefit (provision) for income taxes | -306 | [1] | -318 | [1] |
Earnings from continuing operations | -11,497 | [1] | 2,689 | [1] |
(Earnings) loss from discontinued operations, net of taxes (Note 2) | -2,202 | [1] | 252 | [1] |
Net earnings (loss) | -13,699 | [1] | 2,941 | [1] |
Less net earnings (loss) attributable to noncontrolling interests | -126 | [1] | -58 | [1] |
Net earnings attributable to the Company | -13,573 | [1] | 2,999 | [1] |
Preferred stock dividends declared | 0 | [1] | 0 | [1] |
Net earnings attributable to GE common shareowners | -13,573 | [1] | 2,999 | [1] |
Amounts attributable to GE common shareowners | ||||
Earnings from continuing operations | -11,497 | [1] | 2,689 | [1] |
Less net earnings (loss) attributable to noncontrolling interests | -126 | [1] | -58 | [1] |
Earnings from continuing operations attributable to the Company | -11,371 | [1] | 2,747 | [1] |
GECC preferred stock dividends declared | 0 | [1] | 0 | [1] |
Earnings from continuing operations attributable to GE common shareowners | -11,371 | [1] | 2,747 | [1] |
Earnings (loss) from discontinued operations for per-share calculation | -2,202 | [1] | 252 | [1] |
Net earnings attributable to GE common shareowners | -13,573 | [1] | 2,999 | [1] |
GECC | ||||
Revenues and other income | ||||
Sales of goods | 21 | 27 | ||
Sales of services | 0 | 0 | ||
Other income | 0 | 0 | ||
GECC earnings from continuing operations | 0 | 0 | ||
GECC revenues from services (Note 12) | 5,961 | 9,858 | ||
Total revenues and other income | 5,982 | 9,885 | ||
Costs and Expenses | ||||
Cost of goods sold | 18 | 25 | ||
Cost of services sold | 0 | 0 | ||
Interest and other financial charges | 1,651 | 1,887 | ||
Investment contracts, insurance losses and insurance annuity benefits | 644 | 643 | ||
Provision for losses on financing receivables (Note 5) | 4,859 | 984 | ||
Other costs and expenses | 5,111 | 4,341 | ||
Total costs and expenses | 12,283 | 7,880 | ||
Earnings (loss) from continuing operations before income taxes | -6,301 | 2,005 | ||
Benefit (provision) for income taxes | -6,152 | -301 | ||
Earnings from continuing operations | -12,453 | 1,704 | ||
(Earnings) loss from discontinued operations, net of taxes (Note 2) | -2,201 | 252 | ||
Net earnings (loss) | -14,654 | 1,956 | ||
Less net earnings (loss) attributable to noncontrolling interests | 91 | 11 | ||
Net earnings attributable to the Company | -14,745 | 1,945 | ||
Preferred stock dividends declared | 0 | 0 | ||
Net earnings attributable to GE common shareowners | -14,745 | 1,945 | ||
Amounts attributable to GE common shareowners | ||||
Earnings from continuing operations | -12,453 | 1,704 | ||
Less net earnings (loss) attributable to noncontrolling interests | 91 | 11 | ||
Earnings from continuing operations attributable to the Company | -12,544 | 1,693 | ||
GECC preferred stock dividends declared | 0 | 0 | ||
Earnings from continuing operations attributable to GE common shareowners | -12,544 | 1,693 | ||
Earnings (loss) from discontinued operations for per-share calculation | -2,201 | 252 | ||
Net earnings attributable to GE common shareowners | ($14,745) | $1,945 | ||
[1] | Represents the adding together of all affiliated companies except General Electric Capital Corporation (GECC or Financial Services), which is presented on a one-line basis. See Note 1. | |||
Consolidated_Statement_of_Comp
Consolidated Statement of Comprehensive Income (Loss) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Statement of Comprehensive Income 'Unaudited' [Abstract] | ||
Net earnings (loss) | ($13,608) | $2,952 |
Less net earnings (loss) attributable to noncontrolling interests | -35 | -47 |
Net earnings (loss) attributable to the Company | -13,573 | 2,999 |
Other comprehensive income (loss) | ||
Investment securities | 233 | 457 |
Currency translation adjustments | -5,336 | 49 |
Cash flow hedges | -46 | 68 |
Benefit plans | 909 | 695 |
Other comprehensive income (loss) | -4,240 | 1,269 |
Less Other comprehensive income (loss) attributable to noncontrolling interests | -48 | -2 |
Other comprehensive income (loss) attributable to the Company | -4,192 | 1,271 |
Comprehensive income (loss) | -17,848 | 4,221 |
Less Comprehensive income (loss) attributable to noncontrolling interests | -83 | -49 |
Comprehensive income (loss) attributable to Company | ($17,765) | $4,270 |
Consolidated_Statement_of_Chan
Consolidated Statement of Changes in Shareowners' Equity (USD $) | 3 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | |
Statement Of Stockholders Equity 'Unaudited'[Abstract] | |||
GE shareowners' equity opening balance | $128,159 | $130,566 | |
Net earnings (loss) attributable to the Company | -13,573 | 2,999 | |
Dividends and other transactions with shareowners | -2,319 | -2,210 | |
Other comprehensive income (loss) attributable to the Company | -4,192 | 1,271 | |
Net sales (purchases) of shares for treasury | 499 | -840 | |
Changes in other capital | -14 | 50 | |
Equity ending balance at March 31 | 108,560 | 131,836 | |
Noncontrolling interests | 8,738 | [1] | 6,183 |
Total equity balance at March 31 | $117,298 | $138,019 | |
[1] | (c) Included AOCI attributable to noncontrolling interests of $(243) million and $(194) million at March 31, 2015 and December 31, 2014, respectively. |
Statement_of_Financial_Positio
Statement of Financial Position (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | ||
Assets | ||||
Cash and equivalents | $87,055,000,000 | $90,021,000,000 | ||
Investment securities (Note 3) | 41,992,000,000 | 47,558,000,000 | ||
Current receivables | 20,547,000,000 | 23,237,000,000 | ||
Inventories (Note 4) | 17,830,000,000 | 17,689,000,000 | ||
Financing receivables - net (Note 5 and 18) | 68,040,000,000 | 205,180,000,000 | ||
Other GECC receivables | 6,814,000,000 | 8,690,000,000 | ||
Property, plant and equipment - net (Note 6) | 61,219,000,000 | 66,246,000,000 | ||
Investment in GECC | 0 | 0 | ||
Goodwill (Note 7) | 69,604,000,000 | 76,016,000,000 | ||
Other intangible assets - net (Note 7) | 13,533,000,000 | 14,047,000,000 | ||
All other assets | 50,228,000,000 | 53,388,000,000 | ||
Financing receivables held for sale (Note 2) | 92,959,000,000 | 1,830,000,000 | ||
Assets of businesses held for sale (Note 2) | 56,549,000,000 | 6,300,000,000 | ||
Assets of discontinued operations (Note 2) | 31,261,000,000 | 36,795,000,000 | ||
Total assets(a) | 617,631,000,000 | [1] | 646,997,000,000 | [1] |
Liabilities and equity | ||||
Short-term borrowings (Note 8) | 69,211,000,000 | 71,525,000,000 | ||
Accounts payable, principally trade accounts | 14,392,000,000 | 15,793,000,000 | ||
Progress collections and price adjustments accrued | 11,498,000,000 | 12,537,000,000 | ||
Dividends payable | 2,315,000,000 | 2,317,000,000 | ||
Other GE current liabilities | 12,393,000,000 | 12,682,000,000 | ||
Non-recourse borrowings of consolidated securitization entities (Note 8) | 29,035,000,000 | 29,938,000,000 | ||
Bank deposits (Note 8) | 62,691,000,000 | 62,839,000,000 | ||
Long-term borrowings (Note 8) | 190,420,000,000 | 200,172,000,000 | ||
Investment contracts, insurance liabilities and insurance annuity benefits | 27,622,000,000 | 27,578,000,000 | ||
All other liabilities | 68,414,000,000 | 70,485,000,000 | ||
Deferred income taxes | 2,901,000,000 | -1,353,000,000 | ||
Liabilities of businesses held for sale (Note 2) | 7,368,000,000 | 3,375,000,000 | ||
Liabilities of discontinued operations (Note 2) | 2,073,000,000 | 2,276,000,000 | ||
Total liabilities(a) | 500,333,000,000 | [1] | 510,164,000,000 | [1] |
GECC preferred stock (50,000 shares outstanding at both March 31, 2015 and December 31, 2014) | 0 | 0 | ||
Common stock (10,075,929,000 and 10,057,380,000 shares outstanding at both March 31, 2015 and December 31, 2014, respectively) | 702,000,000 | 702,000,000 | ||
Accumulated other comprehensive income (loss) net - attributable to GE | ||||
Investment securities | 1,245,000,000 | [2] | 1,013,000,000 | [2] |
Currency translation adjustments | -7,716,000,000 | [2] | -2,427,000,000 | [2] |
Cash flow hedges | -226,000,000 | [2] | -180,000,000 | [2] |
Benefit plans | -15,667,000,000 | [2] | -16,578,000,000 | [2] |
Other capital | 32,875,000,000 | 32,889,000,000 | ||
Retained earnings | 139,441,000,000 | 155,333,000,000 | ||
Treasury Stock, Value | -42,094,000,000 | -42,593,000,000 | ||
Total GE shareowners' equity | 108,560,000,000 | 128,159,000,000 | ||
Noncontrolling interests(c) (Note 11) | 8,738,000,000 | [3] | 8,674,000,000 | [3] |
Total equity | 117,298,000,000 | 136,833,000,000 | ||
Total liabilities and equity | 617,631,000,000 | 646,997,000,000 | ||
GE | ||||
Assets | ||||
Cash and equivalents | 13,423,000,000 | 15,916,000,000 | ||
Investment securities (Note 3) | 143,000,000 | 84,000,000 | ||
Current receivables | 10,783,000,000 | 11,513,000,000 | ||
Inventories (Note 4) | 17,781,000,000 | 17,639,000,000 | ||
Financing receivables - net (Note 5 and 18) | 0 | 0 | ||
Other GECC receivables | 0 | 0 | ||
Property, plant and equipment - net (Note 6) | 16,516,000,000 | 17,207,000,000 | ||
Investment in GECC | 65,762,000,000 | 82,549,000,000 | ||
Goodwill (Note 7) | 49,965,000,000 | 51,527,000,000 | ||
Other intangible assets - net (Note 7) | 12,420,000,000 | 12,984,000,000 | ||
All other assets | 25,473,000,000 | 24,680,000,000 | ||
Financing receivables held for sale (Note 2) | 0 | 0 | ||
Assets of businesses held for sale (Note 2) | 2,940,000,000 | 2,805,000,000 | ||
Assets of discontinued operations (Note 2) | 9,000,000 | 10,000,000 | ||
Total assets(a) | 215,215,000,000 | 236,914,000,000 | ||
Liabilities and equity | ||||
Short-term borrowings (Note 8) | 3,839,000,000 | 3,872,000,000 | ||
Accounts payable, principally trade accounts | 15,213,000,000 | 16,511,000,000 | ||
Progress collections and price adjustments accrued | 11,498,000,000 | 12,550,000,000 | ||
Dividends payable | 2,315,000,000 | 2,317,000,000 | ||
Other GE current liabilities | 12,391,000,000 | 12,681,000,000 | ||
Non-recourse borrowings of consolidated securitization entities (Note 8) | 0 | 0 | ||
Bank deposits (Note 8) | 0 | 0 | ||
Long-term borrowings (Note 8) | 12,419,000,000 | 12,468,000,000 | ||
Investment contracts, insurance liabilities and insurance annuity benefits | 0 | 0 | ||
All other liabilities | 54,670,000,000 | 54,662,000,000 | ||
Deferred income taxes | -8,160,000,000 | -8,772,000,000 | ||
Liabilities of businesses held for sale (Note 2) | 1,547,000,000 | 1,504,000,000 | ||
Liabilities of discontinued operations (Note 2) | 122,000,000 | 137,000,000 | ||
Total liabilities(a) | 105,854,000,000 | 107,930,000,000 | ||
GECC preferred stock (50,000 shares outstanding at both March 31, 2015 and December 31, 2014) | 0 | 0 | ||
Common stock (10,075,929,000 and 10,057,380,000 shares outstanding at both March 31, 2015 and December 31, 2014, respectively) | 702,000,000 | 702,000,000 | ||
Accumulated other comprehensive income (loss) net - attributable to GE | ||||
Investment securities | 1,245,000,000 | 1,013,000,000 | ||
Currency translation adjustments | -7,716,000,000 | -2,427,000,000 | ||
Cash flow hedges | -226,000,000 | -180,000,000 | ||
Benefit plans | -15,667,000,000 | -16,578,000,000 | ||
Other capital | 32,875,000,000 | 32,889,000,000 | ||
Retained earnings | 139,441,000,000 | 155,333,000,000 | ||
Treasury Stock, Value | -42,094,000,000 | -42,593,000,000 | ||
Total GE shareowners' equity | 108,560,000,000 | 128,159,000,000 | ||
Noncontrolling interests(c) (Note 11) | 801,000,000 | 825,000,000 | ||
Total equity | 109,361,000,000 | 128,984,000,000 | ||
Total liabilities and equity | 215,215,000,000 | 236,914,000,000 | ||
GECC | ||||
Assets | ||||
Cash and equivalents | 73,632,000,000 | 74,105,000,000 | ||
Investment securities (Note 3) | 41,853,000,000 | 47,478,000,000 | ||
Current receivables | 0 | 0 | ||
Inventories (Note 4) | 49,000,000 | 50,000,000 | ||
Financing receivables - net (Note 5 and 18) | 78,064,000,000 | 217,382,000,000 | ||
Other GECC receivables | 14,149,000,000 | 16,278,000,000 | ||
Property, plant and equipment - net (Note 6) | 45,130,000,000 | 49,429,000,000 | ||
Investment in GECC | 0 | 0 | ||
Goodwill (Note 7) | 19,639,000,000 | 24,489,000,000 | ||
Other intangible assets - net (Note 7) | 1,116,000,000 | 1,067,000,000 | ||
All other assets | 25,019,000,000 | 29,038,000,000 | ||
Financing receivables held for sale (Note 2) | 92,959,000,000 | 1,830,000,000 | ||
Assets of businesses held for sale (Note 2) | 53,598,000,000 | 3,474,000,000 | ||
Assets of discontinued operations (Note 2) | 31,252,000,000 | 36,785,000,000 | ||
Total assets(a) | 476,460,000,000 | 501,405,000,000 | ||
Liabilities and equity | ||||
Short-term borrowings (Note 8) | 66,178,000,000 | 68,515,000,000 | ||
Accounts payable, principally trade accounts | 4,960,000,000 | 5,632,000,000 | ||
Progress collections and price adjustments accrued | 0 | 0 | ||
Dividends payable | 0 | 0 | ||
Other GE current liabilities | 0 | 0 | ||
Non-recourse borrowings of consolidated securitization entities (Note 8) | 29,035,000,000 | 29,938,000,000 | ||
Bank deposits (Note 8) | 62,691,000,000 | 62,839,000,000 | ||
Long-term borrowings (Note 8) | 178,037,000,000 | 187,749,000,000 | ||
Investment contracts, insurance liabilities and insurance annuity benefits | 28,222,000,000 | 28,027,000,000 | ||
All other liabilities | 14,292,000,000 | 16,315,000,000 | ||
Deferred income taxes | 11,061,000,000 | 7,419,000,000 | ||
Liabilities of businesses held for sale (Note 2) | 6,334,000,000 | 2,434,000,000 | ||
Liabilities of discontinued operations (Note 2) | 1,951,000,000 | 2,139,000,000 | ||
Total liabilities(a) | 402,761,000,000 | 411,007,000,000 | ||
GECC preferred stock (50,000 shares outstanding at both March 31, 2015 and December 31, 2014) | 0 | 0 | ||
Common stock (10,075,929,000 and 10,057,380,000 shares outstanding at both March 31, 2015 and December 31, 2014, respectively) | 0 | 0 | ||
Accumulated other comprehensive income (loss) net - attributable to GE | ||||
Investment securities | 1,207,000,000 | 1,010,000,000 | ||
Currency translation adjustments | -2,653,000,000 | -838,000,000 | ||
Cash flow hedges | -162,000,000 | -172,000,000 | ||
Benefit plans | -567,000,000 | -577,000,000 | ||
Other capital | 33,005,000,000 | 32,999,000,000 | ||
Retained earnings | 39,882,000,000 | 55,077,000,000 | ||
Treasury Stock, Value | 0 | 0 | ||
Total GE shareowners' equity | 70,712,000,000 | 87,499,000,000 | ||
Noncontrolling interests(c) (Note 11) | 2,987,000,000 | 2,899,000,000 | ||
Total equity | 73,699,000,000 | 90,398,000,000 | ||
Total liabilities and equity | $476,460,000,000 | $501,405,000,000 | ||
[1] | (a) Our consolidated assets at March 31, 2015 included total assets of $48,076million of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs. These assets included net financing receivables of $27,831 million, financing receivables held for sale of $14,171 million and investment securities of $3,290 million. Our consolidated liabilities at March 31, 2015 included liabilities of certain VIEs for which the VIE creditors do not have recourse to GE. These liabilities included non-recourse borrowings of consolidated securitization entities (CSEs) of $27,561 million. See Note 16. | |||
[2] | (b) The sum of accumulated other comprehensive income (loss) (AOCI) attributable to the Company was $(22,364) million and $(18,172) million at March 31, 2015and December 31, 2014, respectively. | |||
[3] | (c) Included AOCI attributable to noncontrolling interests of $(243) million and $(194) million at March 31, 2015 and December 31, 2014, respectively. |
Statement_of_Financial_Positio1
Statement of Financial Position (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, except Share data, unless otherwise specified | ||
Balance Sheet Related Disclosures [Abstract] | ||
Preferred Stock, Shares Outstanding | 50,000 | 50,000 |
Common Stock, Shares, Outstanding | 10,075,929,000 | 10,057,380,000 |
Assets of consolidated variable interest entities that can only be used to settle the liabilities of those VIEs | $48,076 | |
Net financing receivables of certain VIEs that can only be used to settle the liabilities of those VIEs | 27,831 | |
Investment securities of certain VIEs that can only be used to settle the liabilities of those VIEs | 3,290 | |
Nonrecourse Borrowings Of Consolidated Securitization Entities Where VIE Creditors Do Not Have Recourse To Company | 27,561 | |
Sum of accumulated other comprehensive income - net | -22,364 | -18,172 |
Accumulated other comprehensive income - net attributable to noncontrolling interests | -243 | -194 |
Net Financing Receivables HFS of Certain VIEs | $14,171 |
Statement_of_Cash_Flows
Statement of Cash Flows (USD $) | 3 Months Ended | |||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | ||
Cash flows - operating activities | ||||
Net earnings | ($13,608) | $2,952 | ||
Less net earnings (loss) attributable to noncontrolling interests | -35 | -47 | ||
Net earnings (loss) attributable to GE common shareowners for per-share calculation, Basic | -13,573 | 2,999 | ||
(Earnings) loss from discontinued operations, net of taxes | 2,202 | -252 | ||
Adjustments to reconcile net earnings attributable to the Company to cash provided from operating activities | ||||
Depreciation and amortization of property, plant and equipment | 2,466 | 2,189 | ||
Earnings from continuing operations retained by GECC | 0 | 0 | ||
Deferred income taxes | 1,951 | -2,029 | ||
Decrease (increase) in GE current receivables | 2,601 | 482 | ||
Decrease (increase) in inventories | -265 | -1,445 | ||
Increase (decrease) in accounts payable | 312 | 971 | ||
Increase (decrease) in GE progress collections | -1,000 | -334 | ||
Provision for losses on GECC financing receivables | 4,859 | 984 | ||
All other operating activities | 5,453 | 1,044 | ||
Cash from (used for) operating activities - continuing operations | 5,006 | 4,609 | ||
Cash from (used for) operating activities - discontinued operations | 1,084 | 352 | ||
Cash from (used for) operating activities | 6,090 | 4,961 | ||
Cash flows - investing activities | ||||
Additions to property, plant and equipment | -3,011 | -3,361 | ||
Dispositions of property, plant and equipment | 1,108 | 1,264 | ||
Net decrease (increase) in GECC financing receivables | 4,345 | 3,488 | ||
Proceeds from sales of discontinued operations | 0 | 232 | ||
Proceeds from principal business dispositions | 22 | 20 | ||
Proceeds from sale of equity interest in NBCU LLC | 0 | 0 | ||
Net cash from (payments for) principal businesses purchased | -1,723 | -1,454 | ||
Payments for proceeds from other investing activities | 3,979 | 1,850 | ||
Cash from (used for) investing activities - continuing operations | 4,720 | 2,039 | ||
Cash from (used for) investing activities - discontinued operations | -881 | -247 | ||
Cash from (used for) investing activities | 3,839 | 1,792 | ||
Cash flows - financing activities | ||||
Net increase (decrease) in borrowings (maturities of 90 days or less) | 238 | -3,330 | ||
Net increase (decrease) in bank deposits | 1,042 | 1,175 | ||
Newly issued debt (maturities longer than 90 days) | 12,038 | 8,775 | ||
Repayments and other reductions (maturities longer than 90 days) | -19,114 | -11,524 | ||
Proceeds from issuance of preferred stock | 0 | 0 | ||
Net dispositions (purchases) of GE shares for treasury | 239 | -1,337 | ||
Dividends paid to shareowners | -2,319 | -2,223 | ||
Proceeds from initial public offering of Synchrony Financial | 0 | 0 | ||
All other financing activities | -106 | 66 | ||
Cash from (used for) financing activities - continuing operations | -7,982 | -8,398 | ||
Cash from (used for) financing activities - discontinued operations | -264 | -103 | ||
Cash from (used for) financing activities | -8,246 | -8,501 | ||
Effect of currency exchange rate changes on cash and equivalents | -3,826 | 73 | ||
Increase (decrease) in cash and equivalents | -2,143 | -1,675 | ||
Cash and equivalents at beginning of year | 91,017 | 88,787 | ||
Cash and equivalents at March 31 | 88,874 | 87,112 | ||
Less cash and equivalents of discontinued operations at March 31 | 259 | 378 | ||
Cash and equivalents of continuing operations at March 31 | 88,615 | 86,734 | ||
GE | ||||
Cash flows - operating activities | ||||
Net earnings | -13,699 | [1] | 2,941 | [1] |
Less net earnings (loss) attributable to noncontrolling interests | -126 | [1] | -58 | [1] |
Net earnings (loss) attributable to GE common shareowners for per-share calculation, Basic | -13,573 | [1] | 2,999 | [1] |
(Earnings) loss from discontinued operations, net of taxes | 2,202 | [1] | -252 | [1] |
Adjustments to reconcile net earnings attributable to the Company to cash provided from operating activities | ||||
Depreciation and amortization of property, plant and equipment | 554 | 659 | ||
Earnings from continuing operations retained by GECC | 12,994 | -1,193 | ||
Deferred income taxes | -129 | -341 | ||
Decrease (increase) in GE current receivables | 662 | -143 | ||
Decrease (increase) in inventories | -262 | -1,453 | ||
Increase (decrease) in accounts payable | -452 | 165 | ||
Increase (decrease) in GE progress collections | -1,013 | -347 | ||
Provision for losses on GECC financing receivables | 0 | [1] | 0 | [1] |
All other operating activities | 357 | 1,656 | ||
Cash from (used for) operating activities - continuing operations | 1,340 | 1,750 | ||
Cash from (used for) operating activities - discontinued operations | -4 | 0 | ||
Cash from (used for) operating activities | 1,336 | 1,750 | ||
Cash flows - investing activities | ||||
Additions to property, plant and equipment | -1,013 | -1,090 | ||
Dispositions of property, plant and equipment | 139 | 72 | ||
Net decrease (increase) in GECC financing receivables | 0 | 0 | ||
Proceeds from sales of discontinued operations | 0 | 0 | ||
Proceeds from principal business dispositions | 22 | 20 | ||
Net cash from (payments for) principal businesses purchased | -46 | -1,454 | ||
Payments for proceeds from other investing activities | -270 | 9 | ||
Cash from (used for) investing activities - continuing operations | -1,168 | -2,443 | ||
Cash from (used for) investing activities - discontinued operations | 4 | 0 | ||
Cash from (used for) investing activities | -1,164 | -2,443 | ||
Cash flows - financing activities | ||||
Net increase (decrease) in borrowings (maturities of 90 days or less) | -232 | -756 | ||
Net increase (decrease) in bank deposits | 0 | 0 | ||
Newly issued debt (maturities longer than 90 days) | 93 | 3,034 | ||
Repayments and other reductions (maturities longer than 90 days) | -94 | -35 | ||
Net dispositions (purchases) of GE shares for treasury | 239 | -1,337 | ||
Dividends paid to shareowners | -2,319 | -2,223 | ||
All other financing activities | 177 | 37 | ||
Cash from (used for) financing activities - continuing operations | -2,136 | -1,280 | ||
Cash from (used for) financing activities - discontinued operations | 0 | 0 | ||
Cash from (used for) financing activities | -2,136 | -1,280 | ||
Effect of currency exchange rate changes on cash and equivalents | -529 | -19 | ||
Increase (decrease) in cash and equivalents | -2,493 | -1,992 | ||
Cash and equivalents at beginning of year | 15,916 | 13,682 | ||
Cash and equivalents at March 31 | 13,423 | 11,690 | ||
Less cash and equivalents of discontinued operations at March 31 | 0 | 0 | ||
Cash and equivalents of continuing operations at March 31 | 13,423 | 11,690 | ||
GECC | ||||
Cash flows - operating activities | ||||
Net earnings | -14,654 | 1,956 | ||
Less net earnings (loss) attributable to noncontrolling interests | 91 | 11 | ||
Net earnings (loss) attributable to GE common shareowners for per-share calculation, Basic | -14,745 | 1,945 | ||
(Earnings) loss from discontinued operations, net of taxes | 2,201 | -252 | ||
Adjustments to reconcile net earnings attributable to the Company to cash provided from operating activities | ||||
Depreciation and amortization of property, plant and equipment | 1,917 | 1,530 | ||
Earnings from continuing operations retained by GECC | 0 | 0 | ||
Deferred income taxes | 2,080 | -1,688 | ||
Decrease (increase) in GE current receivables | 0 | 0 | ||
Decrease (increase) in inventories | 1 | 13 | ||
Increase (decrease) in accounts payable | 562 | 851 | ||
Increase (decrease) in GE progress collections | 0 | 0 | ||
Provision for losses on GECC financing receivables | 4,859 | 984 | ||
All other operating activities | 5,599 | -580 | ||
Cash from (used for) operating activities - continuing operations | 2,474 | 2,803 | ||
Cash from (used for) operating activities - discontinued operations | 1,088 | 352 | ||
Cash from (used for) operating activities | 3,562 | 3,155 | ||
Cash flows - investing activities | ||||
Additions to property, plant and equipment | -2,202 | -2,361 | ||
Dispositions of property, plant and equipment | 948 | 1,192 | ||
Net decrease (increase) in GECC financing receivables | 6,096 | 4,302 | ||
Proceeds from sales of discontinued operations | 0 | 232 | ||
Proceeds from principal business dispositions | 0 | 0 | ||
Proceeds from sale of equity interest in NBCU LLC | 0 | 0 | ||
Net cash from (payments for) principal businesses purchased | -1,677 | 0 | ||
Payments for proceeds from other investing activities | 4,548 | 2,847 | ||
Cash from (used for) investing activities - continuing operations | 7,713 | 6,212 | ||
Cash from (used for) investing activities - discontinued operations | -885 | -247 | ||
Cash from (used for) investing activities | 6,828 | 5,965 | ||
Cash flows - financing activities | ||||
Net increase (decrease) in borrowings (maturities of 90 days or less) | 287 | -3,750 | ||
Net increase (decrease) in bank deposits | 1,042 | 1,175 | ||
Newly issued debt (maturities longer than 90 days) | 11,945 | 5,743 | ||
Repayments and other reductions (maturities longer than 90 days) | -19,020 | -11,489 | ||
Proceeds from issuance of preferred stock | 0 | 0 | ||
Net dispositions (purchases) of GE shares for treasury | 0 | 0 | ||
Dividends paid to shareowners | -450 | -500 | ||
Proceeds from initial public offering of Synchrony Financial | 0 | 0 | ||
All other financing activities | -283 | 29 | ||
Cash from (used for) financing activities - continuing operations | -6,479 | -8,792 | ||
Cash from (used for) financing activities - discontinued operations | -264 | -103 | ||
Cash from (used for) financing activities | -6,743 | -8,895 | ||
Effect of currency exchange rate changes on cash and equivalents | -3,297 | 92 | ||
Increase (decrease) in cash and equivalents | 350 | 317 | ||
Cash and equivalents at beginning of year | 75,101 | 75,105 | ||
Cash and equivalents at March 31 | 75,451 | 75,422 | ||
Less cash and equivalents of discontinued operations at March 31 | 259 | 378 | ||
Cash and equivalents of continuing operations at March 31 | $75,192 | $75,044 | ||
[1] | Represents the adding together of all affiliated companies except General Electric Capital Corporation (GECC or Financial Services), which is presented on a one-line basis. See Note 1. | |||
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
Summary Of Significant Accounting Policies | Notes to Consolidated Financial Statements |
Note 1. Basis of Presentation and Summary of Significant Accounting Policies | |
basis of presentation | |
The accompanying consolidated financial statements represent the consolidation of General Electric Company (the 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 fiscal year ended December 31, 2014 (2014 consolidated financial statements), which discusses our consolidation and financial statement presentation. As used in this report on Form 10-Q (Report), “GE” represents the adding together of all affiliated companies except General Electric Capital Corporation (GECC or Financial Services), whose continuing operations are presented on a one-line basis; GECC consists of General Electric Capital Corporation and all of its affiliates; and “Consolidated” represents the adding together of GE and GECC with the effects of transactions between the two eliminated. Unless otherwise indicated, we refer to the caption revenues and other income simply as “revenues” throughout this Form 10-Q. | |
We have reclassified certain prior-period amounts to conform to the current-period presentation. Unless otherwise indicated, information in these notes to the consolidated financial statements relates to continuing operations. | |
THE GE Capital Exit Plan | |
On April 10, 2015, the Company announced a plan (the GE Capital Exit Plan) to reduce the size of its financial services businesses through the sale of most of the assets of GECC over the next 24 months, and to focus on continued investment and growth in the Company’s industrial businesses. Under the GE Capital Exit Plan, which was approved on April 2, 2015 and aspects of which were approved on March 31, 2015, the Company will retain certain GECC businesses, principally its vertical financing businesses – GE Capital Aviation Services, Energy Financial Services and Healthcare Equipment Finance – that directly relate to the Company’s core industrial domain and other operations including Working Capital Solutions and our run-off insurance activities. The assets planned for disposition include Real Estate, most of Commercial Lending and Leasing (CLL) and all Consumer platforms (including all U.S. banking assets). | |
As part of the GE Capital Exit Plan, the Company and GECC entered into an amendment to their existing financial support agreement. Under this amendment (the Amendment), the Company has provided a full and unconditional guarantee (the Guarantee) of the payment of principal and interest on all tradable senior and subordinated outstanding long-term debt securities and all commercial paper issued or guaranteed by GECC identified in the Amendment. In the aggregate, the Guarantee applied to $210,107 million of GECC debt as of April 10, 2015. See Note 8. The Guarantee replaced the requirement that the Company make certain income maintenance payments to GECC in certain circumstances. GECC’s U.S. public indentures were concurrently amended to provide the full and unconditional guarantee by the Company set forth in the Guarantee. | |
We recorded $16,118 million of after-tax charges ($13,764 million of which is attributable to continuing operations and $2,354 million of which is attributable to discontinued operations) in the first quarter of 2015 related to the GE Capital Exit Plan. The first quarter charges recorded in continuing operations include tax expense related to expected repatriation of foreign earnings and write-off of deferred tax assets ($5,980 million), asset impairments due to shortened hold periods ($4,962 million), and charges on businesses held for sale ($2,822 million), including goodwill allocation. | |
See Notes 2 and 7 to the consolidated financial statements for additional information. | |
interim period presentation | |
The consolidated financial statements and notes thereto are unaudited. These statements include all adjustments (consisting of normal recurring accruals) that we considered necessary to present a fair statement of our results of operations, financial position and cash flows. The results reported in these consolidated financial statements should not be regarded as necessarily indicative of results that may be expected for the entire year. It is suggested that these consolidated financial statements be read in conjunction with the financial statements and notes thereto included in our 2014 consolidated financial statements. Effective for the first quarter of 2015, the Company is following a calendar quarter. Previously, we established interim quarterly closing dates using a fiscal calendar, which required our businesses to close their books on either a Saturday or Sunday, depending on the business. We label our quarterly information using a calendar convention, that is, first quarter is labeled as ending on March 31, second quarter as ending on June 30, and third quarter as ending on September 30. | |
summary of significant accounting policies | |
We utilized significant estimates in the preparation of the first quarter financial statements. | |
In addition to the discussion below on estimates used to determine the fair value of businesses and assets held for sale, please refer to the Critical Accounting Estimates section within MD&A and Note 1, Basis of Presentation and Summary of Significant Accounting Policies, to the consolidated financial statements of our 2014 Form 10-K Report for a summary of our significant accounting policies and the critical accounting estimates we use to: assess the recoverability of assets such as financing receivables and goodwill; determine the fair value of financial assets; and determine our provision for income taxes and recoverability of deferred tax assets. | |
BUSINESSES AND ASSETS HELD FOR SALE | |
Businesses held for sale represent components that meet accounting requirements to be classified as held for sale and are presented as single asset and liability amounts in our financial statements with a valuation allowance, if necessary, to recognize the net carrying amount at the lower of cost or fair value, less cost to sell. Financing receivables that no longer qualify to be presented as held for investment must be classified as held for sale and recognized in our financial statements at the lower of cost or fair value, less cost to sell, with that amount representing a new cost basis at the date of transfer. | |
As a result of the GE Capital Exit Plan, certain GECC businesses met the criteria to be classified as businesses held for sale and certain financing receivables were required to be recognized as held for sale at March 31, 2015. | |
The determination of fair value for businesses and portfolios of financing receivables involves significant judgments and assumptions. Development of estimates of fair values in this circumstance is complex and is dependent upon, among other factors, the nature of the potential sales transaction (for example, asset sale versus sale of legal entity), composition of assets and/or businesses in the disposal group, the comparability of the disposal group to market transactions, negotiations with third party purchasers etc. Such factors bear directly on the range of potential fair values and the selection of the best estimates. Key assumptions were developed based on market observable data and, in the absence of such data, internal information that is consistent with what market participants would use in a hypothetical transaction as of March 31, 2015. | |
We will review all businesses and assets held for sale each reporting period to determine whether the existing carrying amounts are fully recoverable in comparison to estimated fair values. |
Businesses_Held_For_Sale_Finan
Businesses Held For Sale, Financing Receivables Held for Sale and Discontinued Operations | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Discontinued Operations and Disposal Groups [Abstract] | |||||||||
Assets and Liabilities Of Business Held For Sale and Discontinued Operations | Note 2. BUSINESSES HELD FOR SALE, FINANCING RECEIVABLES HELD FOR SALE AND DISCONTINUED OPERATIONS | ||||||||
Assets and Liabilities of Businesses Held for Sale | |||||||||
In the first quarter of 2015, in connection with the GE Capital Exit Plan, we committed to sell certain businesses within our CLL business, with assets of $44,398 million and liabilities of $3,871 million. Upon classification as held for sale, we recorded an estimated loss on disposal of $1,845 million ($2,822 million after tax) in revenues. In addition, we signed an agreement to sell our consumer finance business in Australia and New Zealand (ANZ Consumer Lending), with assets of $6,093 million and liabilities of $286 million, to a consortium including KKR, Varde Partners and Deutsche Bank for approximately 6,800 million Australian dollars and 1,400 million New Zealand dollars, respectively, and is targeted to close in 2015. The transactions remain subject to customary closing conditions and regulatory approvals. | |||||||||
In the fourth quarter of 2014, we signed an agreement to sell our Signaling business at Transportation, with assets of $236 million and liabilities of $130 million to Alstom for approximately $800 million, and our consumer finance business Budapest Bank, with assets of $3,107 million and liabilities of $2,177 million to Hungary’s government. The transactions remain subject to customary closing conditions and regulatory approvals, and are targeted to close in 2015. | |||||||||
In the third quarter of 2014, we signed an agreement to sell our Appliances business with assets of $2,704 million and liabilities of $1,417 million to Electrolux for approximately $3,300 million. The transaction remains subject to customary closing conditions and regulatory approvals, and is targeted to close in mid-2015. | |||||||||
FINANCIAL INFORMATION FOR ASSETS AND LIABILITIES OF BUSINESSES HELD FOR SALE | |||||||||
(In millions) | 31-Mar-15 | 31-Dec-14 | |||||||
Assets | |||||||||
Cash and equivalents | $ | 1,560 | $ | 676 | |||||
Investment securities | 7,720 | 448 | |||||||
Current receivables(a) | 178 | 180 | |||||||
Inventories | 703 | 588 | |||||||
Financing receivables – net | 31,318 | 2,144 | |||||||
Property, plant, and equipment – net | 8,149 | 1,015 | |||||||
Goodwill | 5,406 | 539 | |||||||
Other intangible assets – net | 310 | 170 | |||||||
Other | 3,050 | 540 | |||||||
Valuation allowance on disposal group classified as held for sale | -1,845 | - | |||||||
Assets of businesses held for sale | $ | 56,549 | $ | 6,300 | |||||
Liabilities | |||||||||
Short-term borrowings | $ | 840 | 441 | ||||||
Accounts payable(a) | 1,378 | 510 | |||||||
Other current liabilities | 1,233 | 348 | |||||||
Bank deposits | 1,711 | 1,931 | |||||||
Long-term borrowings | 230 | - | |||||||
Deferred income taxes | 255 | -33 | |||||||
Other | 1,721 | 178 | |||||||
Liabilities of businesses held for sale | $ | 7,368 | $ | 3,375 | |||||
(a) Certain transactions at our Appliances and Signaling businesses are made on an arms-length basis with GECC, consisting primarily of GE customer receivables sold to GECC and GECC services for material procurement. These intercompany balances included within our held for sale businesses are reported in the GE and GECC columns of our financial statements, but are eliminated in deriving our consolidated financial statements. | |||||||||
Other assets at March 31, 2015 primarily comprised equity investments and real estate investments. | |||||||||
FINANCING RECEIVABLES HELD FOR SALE | |||||||||
In the first quarter of 2015, in connection with the GE Capital Exit Plan, we committed to sell most of our CLL and all of our non-U.S. Consumer financing receivables. As a result, we transferred these financing receivables to held for sale and recognized a pre-tax provision for losses on financing receivables of $3,955 million ($3,341 million after tax) and wrote-off the associated balance of the allowance for loan losses of $5,072 million to reduce the carrying value of the financing receivables to the lower of cost or fair value, less cost to sell. | |||||||||
FINANCING RECEIVABLES HELD FOR SALE | |||||||||
(in millions) | 31-Mar-15 | 31-Dec-14 | |||||||
Commercial | |||||||||
CLL | $ | 65,974 | $ | 1,409 | |||||
Energy Financial Services | - | 35 | |||||||
GE Capital Aviation Services (GECAS) | 259 | 27 | |||||||
Total Commercial | 66,233 | (a) | 1,471 | ||||||
Consumer | 26,726 | (b) | 359 | ||||||
Total financing receivables held for sale | $ | 92,959 | $ | 1,830 | |||||
Over 30 days past due and nonaccrual financing receivables related to commercial financing receivables held for sale were $993 million and $1,401 million respectively. | |||||||||
Over 30 days past due and nonaccrual financing receivables related to consumer financing receivables held for sale were $1,757 million and $1,109 million, respectively. | |||||||||
Discontinued Operations | |||||||||
Discontinued operations primarily comprised our Real Estate business and our U.S. mortgage business (WMC). These operations were previously reported in the GE Capital segment. Results of operations, financial position and cash flows for these businesses are separately reported as discontinued operations for all periods presented. | |||||||||
FINANCIAL INFORMATION FOR DISCONTINUED OPERATIONS | |||||||||
Three months ended March 31 | |||||||||
(In millions) | 2015 | 2014 | |||||||
Operations | |||||||||
Total revenues and other income (loss) | $ | 499 | $ | 660 | |||||
Earnings (loss) from discontinued operations before income taxes | $ | 30 | $ | 123 | |||||
Benefit (provision) for income taxes | 122 | 110 | |||||||
Earnings (loss) from discontinued operations, net of taxes | $ | 152 | $ | 233 | |||||
Disposal | |||||||||
Gain (loss) on disposal before income taxes | $ | -1,808 | $ | 18 | |||||
Benefit (provision) for income taxes | -546 | 1 | |||||||
Gain (loss) on disposal, net of taxes | $ | -2,354 | $ | 19 | |||||
Earnings (loss) from discontinued operations, net of taxes(a) | $ | -2,202 | $ | 252 | |||||
(a) The sum of GE industrial earnings (loss) from discontinued operations, net of taxes, and GECC earnings (loss) from discontinued operations, net of taxes, is reported as GE industrial earnings (loss) from discontinued operations, net of taxes, on the Consolidated Statement of Earnings (Loss). | |||||||||
(In millions) | 31-Mar-15 | 31-Dec-14 | |||||||
Assets | |||||||||
Cash and equivalents | $ | 259 | $ | 320 | |||||
Investment securities | 799 | 848 | |||||||
Financing receivables – net | 19,348 | 19,636 | |||||||
Other receivables | 420 | 422 | |||||||
Property, plant and equipment – net | 137 | 141 | |||||||
Goodwill | 440 | 537 | |||||||
Other intangible assets – net | 93 | 109 | |||||||
Deferred income taxes | 1,425 | 1,755 | |||||||
Other | 10,148 | 13,027 | |||||||
Valuation allowance on disposal group classified as discontinued operations | -1,808 | - | |||||||
Assets of discontinued operations | $ | 31,261 | $ | 36,795 | |||||
Liabilities | |||||||||
Short-term borrowings | $ | 20 | $ | 273 | |||||
Accounts payable | 465 | 549 | |||||||
Other current liabilities | 111 | 28 | |||||||
Long-term borrowings | 188 | 234 | |||||||
Deferred income taxes | 183 | 237 | |||||||
Other | 1,106 | 955 | |||||||
Liabilities of discontinued operations | $ | 2,073 | $ | 2,276 | |||||
Other assets at March 31, 2015 and December 31, 2014 primarily comprised real estate investments at our Real Estate business. | |||||||||
REAL ESTATE | |||||||||
In connection with the GE Capital Exit Plan, we announced the planned disposition of our Real Estate business and classified the business as discontinued operations and recorded an estimated loss on disposal of $1,808 million ($2,354 million after tax). We expect to complete the disposal by the end of 2015. | |||||||||
FINANCIAL INFORMATION FOR REAL ESTATE | |||||||||
Three months ended March 31 | |||||||||
(In millions) | 2015 | 2014 | |||||||
Operations | |||||||||
Total revenues and other income (loss) | $ | 499 | $ | 630 | |||||
Interest | $ | -237 | $ | -273 | |||||
Operating and administrative | -164 | -149 | |||||||
Depreciation and amortization | -60 | -86 | |||||||
Provision for losses on financing receivables | 4 | 15 | |||||||
Earnings (loss) from discontinued operations, before income taxes | 42 | 137 | |||||||
Benefit (provision) for income taxes | 30 | 103 | |||||||
Earnings (loss) from discontinued operations, net of taxes | $ | 72 | $ | 240 | |||||
Disposal | |||||||||
Gain (loss) on disposal before income taxes | $ | -1,808 | $ | - | |||||
Benefit (provision) for income taxes | -546 | - | |||||||
Gain (loss) on disposal, net of taxes | $ | -2,354 | $ | - | |||||
Earnings (loss) from discontinued operations, net of taxes(a) | $ | -2,282 | $ | 240 | |||||
(a) Earnings (loss) from discontinued operations attributable to the Company, before income taxes, was $(1,765) million and $138 million for the three months ended March 31, 2015 and 2014, respectively. | |||||||||
WMC | |||||||||
During the fourth quarter of 2007, we completed the sale of WMC, our U.S. mortgage business. WMC substantially discontinued all new loan originations by the second quarter of 2007, and is not a loan servicer. In connection with the sale, WMC retained certain representation and warranty obligations related to loans sold to third parties prior to the disposal of the business and contractual obligations to repurchase previously sold loans that had an early payment default. All claims received by WMC for early payment default have either been resolved or are no longer being pursued. | |||||||||
The remaining active claims have been brought by securitization trustees or administrators seeking recovery from WMC for alleged breaches of representations and warranties on mortgage loans that serve as collateral for residential mortgage-backed securities (RMBS). At March 31, 2015, such claims consisted of $3,689 million of individual claims generally submitted before the filing of a lawsuit (compared to $3,694 million at December 31, 2014) and $8,982 million of additional claims asserted against WMC in litigation without making a prior claim (Litigation Claims) (compared to $9,225 million at December 31, 2014). The total amount of these claims, $12,671 million, reflects the purchase price or unpaid principal balances of the loans at the time of purchase and does not give effect to pay downs or potential recoveries based upon the underlying collateral, which in many cases are substantial, nor to accrued interest or fees. As of March 31, 2015, these amounts do not include approximately $429 million of repurchase claims relating to alleged breaches of representations that are not in litigation and that are beyond the applicable statute of limitations. WMC believes that repurchase claims brought based upon representations and warranties made more than six years before WMC was notified of the claim would be disallowed in legal proceedings under applicable statutes of limitations. | |||||||||
Reserves related to repurchase claims made against WMC were $814 million at March 31, 2015, reflecting a net increase to reserves in the three months ended March 31, 2015 of $5 million due to incremental provisions offset by settlement activity. The reserve estimate takes into account recent settlement activity and is based upon WMC’s evaluation of the remaining exposures as a percentage of estimated lifetime mortgage loan losses within the pool of loans supporting each securitization. Settlements in prior periods reduced WMC’s exposure on claims asserted in certain securitizations and the claim amounts reported above give effect to these settlements. | |||||||||
ROLLFORWARD OF THE RESERVE | |||||||||
Three months ended March 31 | |||||||||
(In millions) | 2015 | 2014 | |||||||
Balance, beginning of period | $ | 809 | $ | 800 | |||||
Provision | 7 | - | |||||||
Claim resolutions / rescissions | -2 | -250 | |||||||
Balance, end of period | $ | 814 | $ | 550 | |||||
Given the significant litigation activity and WMC’s continuing efforts to resolve the lawsuits involving claims made against WMC, it is difficult to assess whether future losses will be consistent with WMC’s past experience. Adverse changes to WMC’s assumptions supporting the reserve may result in an increase to these reserves. Taking into account both recent settlement activity and the potential variability of settlements, WMC estimates a range of reasonably possible loss from $0 to approximately $500 million over its recorded reserve at March 31, 2015. This estimate excludes any possible loss associated with an adverse court decision on the applicable statute of limitations, as WMC is unable at this time to develop such a meaningful estimate. | |||||||||
At March 31, 2015, there were 15 lawsuits involving claims made against WMC arising from alleged breaches of representations and warranties on mortgage loans included in 14 securitizations. The adverse parties in these cases are securitization trustees or parties claiming to act on their behalf. Although the alleged claims for relief vary from case to case, the complaints and counterclaims in these actions generally assert claims for breach of contract, indemnification, and/or declaratory judgment, and seek specific performance (repurchase of defective mortgage loan) and/or money damages. Adverse court decisions, including in cases not involving WMC (such as the New York Court of Appeals’ decision on statute of limitations, expected in 2015), could result in new claims and lawsuits on additional loans. However, WMC continues to believe that it has defenses to the claims asserted in litigation, including, for example, based on causation and materiality requirements and applicable statutes of limitations. It is not possible to predict the outcome or impact of these defenses and other factors, any of which could materially affect the amount of any loss ultimately incurred by WMC on these claims. | |||||||||
WMC has also received indemnification demands, nearly all of which are unspecified, from depositors/underwriters/sponsors of RMBS in connection with lawsuits brought by RMBS investors concerning alleged misrepresentations in the securitization offering documents to which WMC is not a party or, in two cases, involving mortgage loan repurchase claims made against RMBS sponsors. WMC believes that it has defenses to these demands. | |||||||||
To the extent WMC is required to repurchase loans, WMC’s loss also would be affected by several factors, including pay downs, accrued interest and fees, and the value of the underlying collateral. The reserve and estimate of possible loss reflect judgment, based on currently available information, and a number of assumptions, including economic conditions, claim and settlement activity, pending and threatened litigation, court decisions regarding WMC’s legal defenses, indemnification demands, government activity, and other variables in the mortgage industry. Actual losses arising from claims against WMC could exceed these amounts and additional claims and lawsuits could result if actual claim rates, governmental actions, litigation and indemnification activity, adverse court decisions, actual settlement rates or losses WMC incurs on repurchased loans differ from its assumptions. | |||||||||
FINANCIAL INFORMATION FOR WMC | |||||||||
Three months ended March 31 | |||||||||
(In millions) | 2015 | 2014 | |||||||
Total revenues and other income (loss) | $ | - | $ | 4 | |||||
Earnings (loss) from discontinued operations, net of taxes | $ | -6 | $ | -2 |
Investment_Securities
Investment Securities | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ||||||||||||||||||||||||
Investment Securities | NOTE 3. INVESTMENT SECURITIES | |||||||||||||||||||||||
Substantially all of our investment securities are classified as available-for-sale. These comprise mainly investment-grade debt securities supporting obligations to annuitants and policyholders in our run-off insurance operations and supporting obligations to holders of guaranteed investment contracts (GICs) in Trinity. We do not have any securities classified as held-to-maturity | ||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||||||
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 | $ | 14 | $ | - | $ | - | $ | 14 | $ | 12 | $ | - | $ | - | $ | 12 | ||||||||
Corporate – non-U.S. | 1 | - | - | 1 | 1 | - | - | 1 | ||||||||||||||||
Equity | ||||||||||||||||||||||||
Available-for-sale | 77 | 55 | -4 | 128 | 69 | 4 | -2 | 71 | ||||||||||||||||
Trading | - | - | - | - | - | - | - | - | ||||||||||||||||
92 | 55 | -4 | 143 | 82 | 4 | -2 | 84 | |||||||||||||||||
GECC | ||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||
U.S. corporate | 20,015 | 4,322 | -52 | 24,285 | 19,889 | 3,967 | -69 | 23,787 | ||||||||||||||||
State and municipal | 4,967 | 667 | -50 | 5,584 | 5,181 | 624 | -56 | 5,749 | ||||||||||||||||
Residential mortgage-backed(a) | 1,129 | 100 | -4 | 1,225 | 1,578 | 153 | -6 | 1,725 | ||||||||||||||||
Commercial mortgage-backed | 2,421 | 181 | -5 | 2,597 | 2,903 | 170 | -10 | 3,063 | ||||||||||||||||
Asset-backed | 301 | 11 | -17 | 295 | 8,084 | 9 | -175 | 7,918 | ||||||||||||||||
Corporate – non-U.S. | 914 | 137 | -1 | 1,050 | 1,021 | 115 | -1 | 1,135 | ||||||||||||||||
Government – non-U.S. | 1,287 | 182 | -1 | 1,468 | 1,646 | 152 | -2 | 1,796 | ||||||||||||||||
U.S. government and federal | ||||||||||||||||||||||||
agency | 5,029 | 86 | - | 5,115 | 1,957 | 56 | - | 2,013 | ||||||||||||||||
Retained interests | 16 | 1 | - | 17 | 16 | 1 | - | 17 | ||||||||||||||||
Equity | ||||||||||||||||||||||||
Available-for-sale | 144 | 55 | -1 | 198 | 197 | 58 | -1 | 254 | ||||||||||||||||
Trading | 19 | - | - | 19 | 21 | - | - | 21 | ||||||||||||||||
36,242 | 5,742 | -131 | 41,853 | 42,493 | 5,305 | -320 | 47,478 | |||||||||||||||||
Eliminations | -4 | - | - | -4 | -4 | - | - | -4 | ||||||||||||||||
Total | $ | 36,330 | $ | 5,797 | $ | -135 | $ | 41,992 | $ | 42,571 | $ | 5,309 | $ | -322 | $ | 47,558 | ||||||||
(a) Substantially collateralized by U.S. mortgages. At March 31, 2015, $1,191 million related to securities issued by government-sponsored entities and $34 million related to securities of private-label issuers. Securities issued by private-label issuers are collateralized primarily by pools of individual direct mortgage loans of financial institutions. | ||||||||||||||||||||||||
The fair value of investment securities decreased to $41,992 million at March 31, 2015, from $47,558 million at December 31, 2014, primarily due to asset-backed debt securities, collateralized by senior secured loans of high-quality, middle-market companies in a variety of industries, which were transferred to assets of businesses held for sale in connection with the GE Capital Exit Plan. This decrease was partially offset by purchases of U.S. government and federal agency securities primarily at Synchrony Financial and Trinity. | ||||||||||||||||||||||||
ESTIMATED FAIR VALUE AND GROSS UNREALIZED LOSSES OF 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(a) | losses(a)(b) | fair value | losses(b) | ||||||||||||||||||||
31-Mar-15 | ||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||
U.S. corporate | $ | 820 | $ | -22 | $ | 295 | $ | -30 | ||||||||||||||||
State and municipal | 206 | -2 | 203 | -48 | ||||||||||||||||||||
Residential mortgage-backed | 127 | -1 | 97 | -3 | ||||||||||||||||||||
Commercial mortgage-backed | 101 | - | 26 | -5 | ||||||||||||||||||||
Asset-backed | 58 | - | 77 | -17 | ||||||||||||||||||||
Corporate – non-U.S. | 27 | -1 | 2 | - | ||||||||||||||||||||
Government – non-U.S. | 403 | -1 | - | - | ||||||||||||||||||||
U.S. government and federal agency | 1,497 | - | 1 | - | ||||||||||||||||||||
Equity | 16 | -5 | - | - | ||||||||||||||||||||
Total | $ | 3,255 | $ | -32 | $ | 701 | $ | -103 | (c) | |||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||
U.S. corporate | $ | 554 | $ | -16 | $ | 836 | $ | -53 | ||||||||||||||||
State and municipal | 81 | -1 | 348 | -55 | ||||||||||||||||||||
Residential mortgage-backed | 30 | - | 159 | -6 | ||||||||||||||||||||
Commercial mortgage-backed | 165 | -1 | 204 | -9 | ||||||||||||||||||||
Asset-backed | 7,493 | -158 | 77 | -17 | ||||||||||||||||||||
Corporate – non-U.S. | 42 | -1 | 3 | - | ||||||||||||||||||||
Government – non-U.S. | 677 | -2 | 14 | - | ||||||||||||||||||||
U.S. government and federal agency | 705 | - | 1 | - | ||||||||||||||||||||
Retained interests | - | - | - | - | ||||||||||||||||||||
Equity | 18 | -3 | - | - | ||||||||||||||||||||
Total | $ | 9,765 | $ | -182 | $ | 1,642 | $ | -140 | ||||||||||||||||
Includes the estimated fair value of and gross unrealized losses on Equity securities held by GE. At March 31, 2015, the estimated fair value of and gross unrealized losses on Equity securities were $5 million and $(4) million, respectively. At December 31, 2014, the estimated fair value of and gross unrealized losses on Equity securities were $4 million and $(2) million, respectively. | ||||||||||||||||||||||||
(b) Included gross unrealized losses related to securities that had other-than-temporary impairments previously recognized of an insignificant amount at March 31, 2015. | ||||||||||||||||||||||||
(c) The majority relate to debt securities held to support obligations to holders of GICs and more than 70% are debt securities that were considered to be investment-grade by the major rating agencies at March 31, 2015. | ||||||||||||||||||||||||
We regularly review investment securities for other-than-temporary impairment (OTTI) using both qualitative and quantitative criteria. For debt securities, our qualitative review considers our ability and intent to hold the security and the financial condition of and near-term prospects for the issuer, including whether the issuer is in compliance with the terms and covenants of the security. Our quantitative review considers whether there has been an adverse change in expected future cash flows. Unrealized losses are not indicative of the amount of credit loss that would be recognized and at March 31, 2015 are primarily due to increases in market yields subsequent to our purchase of the securities. We presently do not intend to sell the vast majority of our debt securities that are in an unrealized loss position and believe that it is not more likely than not that we will be required to sell the vast majority of these securities before anticipated recovery of our amortized cost. The methodologies and significant inputs used to measure the amount of credit loss for our investment securities during 2015 have not changed. For equity securities, we consider the duration and the severity of the unrealized loss. We believe that the unrealized loss associated with our equity securities will be recovered within the foreseeable future. | ||||||||||||||||||||||||
Our corporate debt portfolio comprises securities issued by public and private corporations in various industries, primarily in the U.S. Substantially all of our corporate debt securities are rated investment grade by the major rating agencies. | ||||||||||||||||||||||||
Our RMBS portfolio is collateralized primarily by pools of individual, direct mortgage loans, of which substantially all are in a senior position in the capital structure of the deals, not other structured products such as collateralized debt obligations. Of the total RMBS held at March 31, 2015, $1,191 million and $34 million related to agency and non-agency securities, respectively. Additionally, $65 million was related to residential subprime credit securities, primarily supporting obligations to annuitants and policyholders in our run-off insurance operations. Substantially all of the subprime exposure is related to securities backed by mortgage loans originated in 2005 and prior and are investment grade. | ||||||||||||||||||||||||
Our commercial mortgage-backed securities (CMBS) portfolio is collateralized by both diversified pools of mortgages that were originated for securitization (conduit CMBS) and pools of large loans backed by high-quality properties (large loan CMBS), a majority of which were originated in 2008 and prior. The vast majority of the securities in our CMBS portfolio have investment-grade credit ratings. | ||||||||||||||||||||||||
PRE-TAX, OTHER-THAN-TEMPORARY IMPAIRMENTS ON INVESTMENT SECURITIES | ||||||||||||||||||||||||
Three months ended March 31 | ||||||||||||||||||||||||
(In millions) | 2015 | 2014 | ||||||||||||||||||||||
Total pre-tax, OTTI recognized | $ | 3 | $ | 10 | ||||||||||||||||||||
Pre-tax, OTTI recognized in AOCI | - | -4 | ||||||||||||||||||||||
Pre-tax, OTTI recognized in earnings(a) | $ | 3 | $ | 6 | ||||||||||||||||||||
(a) Included pre-tax, other-than-temporary impairments recorded in earnings related to equity securities of an insignificant amount and $1 million in the three months ended March 31, 2015 and 2014, respectively. | ||||||||||||||||||||||||
CHANGES IN CUMULATIVE CREDIT LOSS IMPAIRMENTS RECOGNIZED ON DEBT SECURITIES STILL HELD | ||||||||||||||||||||||||
Three months ended March 31 | ||||||||||||||||||||||||
(In millions) | 2015 | 2014 | ||||||||||||||||||||||
Cumulative credit loss impairments recognized, beginning of period | $ | 725 | $ | 1,021 | ||||||||||||||||||||
Credit loss impairments recognized on securities not previously impaired | - | - | ||||||||||||||||||||||
Incremental credit loss impairments recognized | ||||||||||||||||||||||||
on securities previously impaired | - | 1 | ||||||||||||||||||||||
Less credit loss impairments previously recognized on securities sold | ||||||||||||||||||||||||
during the period or that we intend to sell | 4 | 51 | ||||||||||||||||||||||
Cumulative credit loss impairments recognized, end of period | $ | 721 | $ | 971 | ||||||||||||||||||||
CONTRACTUAL MATURITIES OF INVESTMENT IN AVAILABLE-FOR-SALE DEBT SECURITIES | ||||||||||||||||||||||||
(EXCLUDING MORTGAGE-BACKED AND ASSET-BACKED SECURITIES) | ||||||||||||||||||||||||
Amortized | Estimated | |||||||||||||||||||||||
(In millions) | cost | fair value | ||||||||||||||||||||||
Due | ||||||||||||||||||||||||
Within one year | $ | 4,722 | $ | 4,735 | ||||||||||||||||||||
After one year through five years | 3,706 | 3,967 | ||||||||||||||||||||||
After five years through ten years | 5,146 | 5,634 | ||||||||||||||||||||||
After ten years | 18,653 | 23,181 | ||||||||||||||||||||||
We expect actual maturities to differ from contractual maturities because borrowers have the right to call or prepay certain obligations. | ||||||||||||||||||||||||
GROSS REALIZED GAINS AND LOSSES ON AVAILABLE-FOR-SALE INVESTMENT SECURITIES | ||||||||||||||||||||||||
Three months ended March 31 | ||||||||||||||||||||||||
(In millions) | 2015 | 2014 | ||||||||||||||||||||||
GE | ||||||||||||||||||||||||
Gains | $ | - | $ | - | ||||||||||||||||||||
Losses, including impairments | - | - | ||||||||||||||||||||||
Net | - | - | ||||||||||||||||||||||
GECC | ||||||||||||||||||||||||
Gains | 97 | 13 | ||||||||||||||||||||||
Losses, including impairments | -14 | -7 | ||||||||||||||||||||||
Net | 83 | 6 | ||||||||||||||||||||||
Total | $ | 83 | $ | 6 | ||||||||||||||||||||
Although we generally do not have the intent to sell any specific securities at the end of the period, in the ordinary course of managing our investment securities portfolio, we may sell securities prior to their maturities for a variety of reasons, including diversification, credit quality, yield and liquidity requirements and the funding of claims and obligations to policyholders. In some of our bank subsidiaries, we maintain a certain level of purchases and sales volume principally of non-U.S. government debt securities. In these situations, fair value approximates carrying value for these securities. | ||||||||||||||||||||||||
Proceeds from investment securities sales and early redemptions by issuers totaled $3,561 million and $1,327 million in the three months ended March 31, 2015 and 2014, respectively, principally from sales of short-term government securities in our bank subsidiaries and redemptions of non-U.S. corporate and asset-backed securities in our CLL business. In addition, proceeds from investment securities sales in the three months ended March 31, 2015 included $1,627 million principally from sales of CMBS, RMBS and state and municipal securities at Trinity. | ||||||||||||||||||||||||
We recognized pre-tax gains (losses) on trading securities of $(2) million and $(5) million in the three months ended March 31, 2015 and 2014, respectively. |
Inventories
Inventories | 3 Months Ended | |||||
Mar. 31, 2015 | ||||||
Inventory, Net [Abstract] | ||||||
Inventories | NOTE 4. INVENTORIES | |||||
(in millions) | 31-Mar-15 | 31-Dec-14 | ||||
GE | ||||||
Raw materials and work in process | $ | 9,896 | $ | 9,820 | ||
Finished goods | 7,314 | 7,126 | ||||
Unbilled shipments | 614 | 755 | ||||
17,824 | 17,701 | |||||
Less revaluation to LIFO | -43 | -62 | ||||
Total GE | 17,781 | 17,639 | ||||
GECC | ||||||
Finished goods | 49 | 50 | ||||
Total consolidated | $ | 17,830 | $ | 17,689 |
GECC_Financing_Receivables_and
GECC Financing Receivables and Allowance for Losses on Financing Receivables | 3 Months Ended | |||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||
Loans and Leases Receivable Disclosure [Abstract] | ||||||||||||||||||
GECC Financing Receivables, Allowance For Losses On Financing Receivables | NOTE 5. GECC FINANCING RECEIVABLES AND ALLOWANCE FOR LOSSES | |||||||||||||||||
The implementation of the GE Capital Exit Plan has caused significant reductions in our CLL and Consumer portfolios as most or all of those portfolios have been reclassified to either financing receivables held for sale or assets of businesses held for sale. In the three months ended March 31, 2015, the transfer of financing receivables to financing receivables held for sale and assets of businesses held for sale totaled $93,141 million and $29,952 million, respectively. In addition our Real Estate business has been classified as a discontinued operation. | ||||||||||||||||||
FINANCING RECEIVABLES, NET | ||||||||||||||||||
(in millions) | 31-Mar-15 | 31-Dec-14 | ||||||||||||||||
Loans, net of deferred income | $ | 76,066 | $ | 197,949 | ||||||||||||||
Investment in financing leases, net of deferred income | 5,347 | 24,347 | ||||||||||||||||
81,413 | 222,296 | |||||||||||||||||
Allowance for losses | -3,349 | -4,914 | ||||||||||||||||
Financing receivables – net(a) | $ | 78,064 | $ | 217,382 | ||||||||||||||
(a) Financing receivables at December 31, 2014 included $209 million relating to loans that had been acquired in a transfer but have been subject to credit deterioration since origination. There were no such amounts at March 31, 2015. | ||||||||||||||||||
Financing Receivables by Portfolio and Allowance for Losses | ||||||||||||||||||
FINANCING RECEIVABLES | ||||||||||||||||||
(in millions) | 31-Mar-15 | 31-Dec-14 | ||||||||||||||||
Commercial | ||||||||||||||||||
CLL | $ | 12,555 | (a) | $ | 110,503 | |||||||||||||
Energy Financial Services | 2,666 | 2,580 | ||||||||||||||||
GE Capital Aviation Services (GECAS) | 7,817 | 8,263 | ||||||||||||||||
Other | 127 | 130 | ||||||||||||||||
Total Commercial | 23,165 | 121,476 | ||||||||||||||||
Consumer | 58,248 | (b) | 100,820 | |||||||||||||||
Total financing receivables | 81,413 | 222,296 | ||||||||||||||||
Allowance for losses | -3,349 | -4,914 | ||||||||||||||||
Total financing receivables – net | $ | 78,064 | $ | 217,382 | ||||||||||||||
Includes Healthcare Equipment Finance and Working Capital Solutions, a business that purchases GE customer receivables. | ||||||||||||||||||
Includes Synchrony Financial, our U.S. consumer business. | ||||||||||||||||||
ALLOWANCE FOR LOSSES | ||||||||||||||||||
Provision | ||||||||||||||||||
Balance at | charged to | Gross | Balance at | |||||||||||||||
(In millions) | 1-Jan | operations(a) | Other | (b) | write-offs | (a)(c) | Recoveries | (c) | 31-Mar | |||||||||
2015 | ||||||||||||||||||
Commercial | ||||||||||||||||||
CLL | $ | 831 | $ | 1,749 | $ | -250 | $ | -2,345 | $ | 50 | $ | 35 | ||||||
Energy Financial Services | 26 | 7 | -1 | -15 | - | 17 | ||||||||||||
GECAS | 46 | -4 | - | - | - | 42 | ||||||||||||
Total Commercial | 903 | 1,752 | -251 | -2,360 | 50 | 94 | ||||||||||||
Consumer | 4,011 | 3,107 | -274 | -3,885 | 296 | 3,255 | ||||||||||||
Total | $ | 4,914 | $ | 4,859 | $ | -525 | $ | -6,245 | $ | 346 | $ | 3,349 | ||||||
2014 | ||||||||||||||||||
Commercial | ||||||||||||||||||
CLL | $ | 978 | $ | 102 | $ | 1 | $ | -256 | $ | 43 | $ | 868 | ||||||
Energy Financial Services | 8 | 9 | - | -2 | 1 | 16 | ||||||||||||
GECAS | 17 | 8 | - | - | - | 25 | ||||||||||||
Other | 2 | -1 | -1 | - | - | - | ||||||||||||
Total Commercial | 1,005 | 118 | - | -258 | 44 | 909 | ||||||||||||
Consumer | 3,981 | 866 | 16 | -1,083 | 280 | 4,060 | ||||||||||||
Total | $ | 4,986 | $ | 984 | $ | 16 | $ | -1,341 | $ | 324 | $ | 4,969 | ||||||
Provision charged to operations included $3,955 million and gross write-offs included $5,072 million related to the effects of the 2015 reclassification of financing receivables to financing receivables held for sale recorded at the lower of cost or fair value, less cost to sell. | ||||||||||||||||||
Other primarily includes the 2015 reclassification of financing receivables to assets of businesses held for sale and the effects of currency exchange. | ||||||||||||||||||
Net write-offs (gross write-offs less recoveries) in certain portfolios may exceed the beginning allowance for losses as a result of losses that are incurred subsequent to the beginning of the fiscal year due to information becoming available during the current year, which may identify further deterioration on existing financing receivables. | ||||||||||||||||||
Property_Plant_and_Equipment
Property, Plant and Equipment | 3 Months Ended | |||||||||||
Mar. 31, 2015 | ||||||||||||
Property, Plant and Equipment [Abstract] | ||||||||||||
Property, Plant and Equipment | NOTE 6. PROPERTY, PLANT AND EQUIPMENT | |||||||||||
(In millions) | 31-Mar-15 | 31-Dec-14 | ||||||||||
Original cost | $ | 102,637 | $ | 113,124 | ||||||||
Less accumulated depreciation and amortization | -41,418 | -46,878 | ||||||||||
Property, plant and equipment – net | $ | 61,219 | $ | 66,246 | ||||||||
Consolidated depreciation and amortization was $2,466 million and $2,189 million in the three months ended March 31, 2015 and 2014, respectively. In addition, property, plant and equipment decreased in the three months ended March 31, 2015, primarily as a result of the reclassification of assets to assets of businesses held for sale in connection with the GE Capital Exit Plan and the currency exchange effects of a stronger U.S. dollar. |
Acquisitions_Goodwill_and_Othe
Acquisitions, Goodwill and Other Intangibles Assets | 3 Months Ended | |||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||
Acquisitions, Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||
Acquisitions, Goodwill and Other Intangible Assets | NOTE 7. ACQUISITIONS, GOODWILL AND OTHER INTANGIBLE ASSETS | |||||||||||||||||
Acquisitions | ||||||||||||||||||
Upon closing an acquisition, we estimate the fair values of assets and liabilities acquired and consolidate the acquisition as quickly as possible. Given the time it takes to obtain pertinent information to finalize the acquired company’s balance sheet, then to adjust the acquired company’s accounting policies, procedures, and books and records to our standards, it is often several quarters before we are able to finalize those initial fair value estimates. Accordingly, it is not uncommon for our initial estimates to be subsequently revised. | ||||||||||||||||||
On January 30, 2015, we acquired Milestone Aviation Group (Milestone Aviation), a helicopter leasing business, for approximately $1,750 million, which is included in our GE Capital segment. The preliminary purchase price allocation resulted in goodwill of approximately $750 million and amortizable intangible assets of approximately $300 million. The allocation of the purchase price will be finalized upon completion of post-closing procedures. | ||||||||||||||||||
During the second quarter of 2014, GE's offer to acquire the Thermal, Renewables and Grid businesses of Alstom for approximately €12,350 million (to be adjusted for the assumed net cash or liability at closing) was positively recommended by Alstom's board of directors. As part of the transaction, GE, Alstom and the French Government signed a memorandum of understanding for the formation of three joint ventures in grid technology, renewable energy, and global nuclear and French steam power. Alstom will invest approximately €2,600 million in these joint ventures at the closing of the proposed transaction. | ||||||||||||||||||
In the fourth quarter of 2014, Alstom completed its review of the proposed transaction with the works council and obtained approval from its shareholders. Also in the fourth quarter of 2014, GE and Alstom entered into an amendment to the original agreement where GE has agreed to pay Alstom a net amount of approximately €260 million of additional consideration at closing. In exchange for this funding, Alstom has agreed to extend the trademark licensing of the Alstom name from 5 years to 25 years as well as other contractual amendments. The proposed transaction continues to be subject to regulatory approvals, which is currently in process. The transaction is targeted to close in 2015. | ||||||||||||||||||
The acquisition and alliances with Alstom will impact our Power & Water and Energy Management segments. The impact of the acquired businesses on individual segments will be affected by a number of variables, including operating performance, purchase accounting impacts and expected synergies. In addition, due to the amount of time between signing and closing, the operations of the businesses may fluctuate and impact the overall valuation of the acquired businesses at the time of close and, accordingly, may affect the amounts assigned to the assets and liabilities recorded in purchase accounting. | ||||||||||||||||||
goodwill | ||||||||||||||||||
CHANGES IN GOODWILL BALANCES | ||||||||||||||||||
Dispositions, | ||||||||||||||||||
currency | ||||||||||||||||||
Balance at | exchange | Balance at | ||||||||||||||||
(In millions) | 1-Jan-15 | Acquisitions | and other | 31-Mar-15 | ||||||||||||||
Power & Water | $ | 8,754 | $ | 31 | $ | -169 | $ | 8,616 | ||||||||||
Oil & Gas | 10,572 | - | -337 | 10,235 | ||||||||||||||
Energy Management | 4,570 | - | -426 | 4,144 | ||||||||||||||
Aviation | 8,952 | - | -489 | 8,463 | ||||||||||||||
Healthcare | 17,532 | - | -137 | 17,395 | ||||||||||||||
Transportation | 887 | - | -21 | 866 | ||||||||||||||
Appliances & Lighting | 226 | - | -14 | 212 | ||||||||||||||
GE Capital | 24,489 | 752 | -5,602 | 19,639 | ||||||||||||||
Corporate | 34 | - | - | 34 | ||||||||||||||
Total | $ | 76,016 | $ | 783 | $ | -7,195 | $ | 69,604 | ||||||||||
Goodwill balances decreased by $6,412 million in the three months ended March 31, 2015, primarily as a result of the reclassification of goodwill associated with certain businesses within our CLL business, in connection with the GE Capital Exit Plan, and ANZ Consumer Lending to assets of businesses held for sale and the result of currency exchange effects of a stronger U.S. dollar, partially offset by the acquisition of Milestone Aviation. | ||||||||||||||||||
As businesses meet the criteria for held for sale, we allocate goodwill to such businesses and assess the remaining reporting unit goodwill for impairment. | ||||||||||||||||||
Our GE Capital - CLL reporting unit had a goodwill balance of $13,058 million at January 1, 2015. As a result of the GE Capital Exit Plan, we allocated $4,457 million of the GE Capital - CLL reporting unit goodwill to the carrying values of the assets of businesses held for sale. The remaining GE Capital - CLL goodwill was then tested for impairment using data as of January 1, 2015. | ||||||||||||||||||
The impairment test consists of two steps: in step one, the carrying value of the reporting unit is compared with its fair value; in step two, which is applied when the carrying value of the reporting unit exceeds its fair value, the amount of goodwill impairment, if any, is derived by deducting the fair value of the reporting unit's assets and liabilities from the fair value of its equity, and comparing that amount with the carrying amount of goodwill. | ||||||||||||||||||
We determined fair value for the GE Capital - CLL reporting unit using the market approach, which was derived from metrics of publicly traded companies or historically completed transactions of comparable businesses. The selection of comparable companies is based on the markets in which the GE Capital - CLL reporting unit businesses operate giving consideration to risk profiles, size, geography, and diversity of products and services. | ||||||||||||||||||
While the carrying value of the GE Capital - CLL reporting unit was within the range of estimated fair values, we further substantiated our GE Capital - CLL goodwill balance by performing the second step analysis in which the implied fair value of goodwill exceeded its carrying value and accordingly, no goodwill impairment was recognized. | ||||||||||||||||||
Additionally, our GE Capital - Consumer reporting unit had a goodwill balance of $9,777 million at January 1, 2015. During the first quarter of 2015, we signed an agreement to sell ANZ Consumer Lending and upon classification as held for sale, we allocated $410 million of GE Capital - Consumer reporting unit goodwill to the carrying value of the business. The remaining GE Capital - Consumer reporting unit goodwill was then tested for impairment using data as of January 1, 2015. Fair value of the GE Capital - Consumer reporting unit was determined using an income approach and incorporating market observable data. The fair value of the GE Capital - Consumer reporting unit exceeded its carrying value, and therefore, goodwill was not impaired. | ||||||||||||||||||
Estimating the fair value of reporting units requires the use of estimates and significant judgments that are based on a number of factors including actual operating results. It is reasonably possible that the judgments and estimates described above could change in future periods. | ||||||||||||||||||
oTHER INTANGIBLE ASSETS | ||||||||||||||||||
OTHER INTANGIBLE ASSETS - NET | ||||||||||||||||||
(In millions) | 31-Mar-15 | 31-Dec-14 | ||||||||||||||||
Intangible assets subject to amortization | $ | 13,408 | $ | 13,917 | ||||||||||||||
Indefinite-lived intangible assets(a) | 125 | 130 | ||||||||||||||||
Total | $ | 13,533 | $ | 14,047 | ||||||||||||||
(a) Indefinite-lived intangible assets principally comprise trademarks and in-process research and development. | ||||||||||||||||||
INTANGIBLE ASSETS SUBJECT TO AMORTIZATION | ||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||
Gross | Gross | |||||||||||||||||
carrying | Accumulated | carrying | Accumulated | |||||||||||||||
(In millions) | amount | amortization | Net | amount | amortization | Net | ||||||||||||
Customer-related | $ | 8,254 | $ | -2,553 | $ | 5,701 | $ | 8,483 | $ | -2,616 | $ | 5,867 | ||||||
Patents and technology | 6,421 | -2,989 | 3,432 | 6,772 | -2,977 | 3,795 | ||||||||||||
Capitalized software | 7,832 | -4,745 | 3,087 | 8,229 | -4,944 | 3,285 | ||||||||||||
Trademarks | 1,145 | -263 | 882 | 1,159 | -271 | 888 | ||||||||||||
Lease valuations | 251 | -124 | 127 | 140 | -124 | 16 | ||||||||||||
Present value of future profits(a) | 623 | -623 | - | 614 | -614 | - | ||||||||||||
All other | 687 | -508 | 179 | 460 | -394 | 66 | ||||||||||||
Total | $ | 25,213 | $ | -11,805 | $ | 13,408 | $ | 25,857 | $ | -11,940 | $ | 13,917 | ||||||
(a) Balances at March 31, 2015 and December 31, 2014 reflect adjustments of $287 million and $293 million, respectively, to the present value of future profits in our run-off insurance operation to reflect the effects that would have been recognized had the related unrealized investment securities holding gains and losses actually been realized. | ||||||||||||||||||
Intangible assets subject to amortization decreased by $644 million in the three months ended March 31, 2015, primarily as a result of currency exchange effects of a stronger U.S. dollar and the reclassification of intangible assets associated with certain businesses within our CLL business, in connection with the GE Capital Exit Plan, and ANZ Consumer Lending to assets of businesses held for sale, partially offset by the acquisition of Milestone Aviation. | ||||||||||||||||||
Consolidated amortization expense was $490 million and $406 million in the three months ended March 31, 2015 and 2014, respectively. |
Borrowings_and_Bank_Deposits
Borrowings and Bank Deposits | 3 Months Ended | |||||
Mar. 31, 2015 | ||||||
Debt Disclosure [Abstract] | ||||||
Borrowings and Bank Deposits | NOTE 8. BORROWINGS AND BANK DEPOSITS | |||||
(In millions) | 31-Mar-15 | 31-Dec-14 | ||||
Short-term borrowings | ||||||
GE | ||||||
Commercial paper | $ | 500 | $ | 500 | ||
Payable to banks | 410 | 343 | ||||
Current portion of long-term borrowings | 2,059 | 2,068 | ||||
Other | 870 | 961 | ||||
Total GE short-term borrowings | 3,839 | 3,872 | ||||
GECC | ||||||
Commercial paper(a) | ||||||
U.S. | 22,227 | 22,019 | ||||
Non-U.S. | 2,787 | 2,993 | ||||
Current portion of long-term borrowings(a)(b)(c) | 35,545 | 37,724 | ||||
GE Interest Plus notes(d) | 5,457 | 5,467 | ||||
Other(c) | 162 | 312 | ||||
Total GECC short-term borrowings | 66,178 | 68,515 | ||||
Eliminations | -806 | -862 | ||||
Total short-term borrowings | $ | 69,211 | $ | 71,525 | ||
Long-term borrowings | ||||||
GE | ||||||
Senior notes | $ | 11,947 | $ | 11,945 | ||
Payable to banks | 75 | 5 | ||||
Other | 397 | 518 | ||||
Total GE long-term borrowings | 12,419 | 12,468 | ||||
GECC | ||||||
Senior unsecured notes(a)(b)(e) | 156,635 | 162,629 | ||||
Subordinated notes(a) | 4,635 | 4,804 | ||||
Subordinated debentures(a)(f) | 6,543 | 7,085 | ||||
Other(a)(c)(g) | 10,224 | 13,231 | ||||
Total GECC long-term borrowings | 178,037 | 187,749 | ||||
Eliminations | -36 | -45 | ||||
Total long-term borrowings | $ | 190,420 | $ | 200,172 | ||
Non-recourse borrowings of consolidated securitization entities(h) | $ | 29,035 | $ | 29,938 | ||
Bank deposits(i) | $ | 62,691 | $ | 62,839 | ||
Total borrowings and bank deposits | $ | 351,357 | $ | 364,474 | ||
On April 10, 2015, GE announced it would provide a full and unconditional guarantee on the payment of the principal and interest on all tradable senior and subordinated outstanding long-term debt securities and all commercial paper issued or guaranteed by GECC. Short-term borrowings included $25,014 million of commercial paper and $31,127 million of the current portion of long-term borrowings. Long-term borrowings included $143,153 million of senior unsecured notes, $3,871 million of subordinated notes, $6,543 million of subordinated debentures, and $400 million of other. | ||||||
Included $434 million and $439 million of obligations to holders of GICs at March 31, 2015 and December 31, 2014, respectively. These obligations included conditions under which certain GIC holders could require immediate repayment of their investment should the long-term credit ratings of GECC fall below AA-/Aa3. The remaining outstanding GICs will continue to be subject to their scheduled maturities and individual terms, which may include provisions permitting redemption upon a downgrade of one or more of GECC’s ratings, among other things. | ||||||
Included $5,547 million and $5,552 million of funding secured by real estate, aircraft and other collateral at March 31, 2015 and December 31, 2014, respectively, of which $1,732 million and $1,847 million is non-recourse to GECC at March 31, 2015 and December 31, 2014, respectively. | ||||||
Entirely variable denomination floating-rate demand notes. | ||||||
Included $4,592 million related to Synchrony Financial. | ||||||
Subordinated debentures receive rating agency equity credit. | ||||||
Included $5,651 million related to Synchrony Financial. | ||||||
Included $6,374 million and $7,442 million of current portion of long-term borrowings at March 31, 2015 and December 31, 2014, respectively. See Note 16. | ||||||
(i) Included $8,913 million and $10,258 million of deposits in non-U.S. banks at March 31, 2015 and December 31, 2014, respectively, and $15,513 million and $22,848 million of certificates of deposits with maturities greater than one year at March 31, 2015 and December 31, 2014, respectively. |
Postretirement_Benefit_Plans
Postretirement Benefit Plans | 3 Months Ended | ||||||
Mar. 31, 2015 | |||||||
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | |||||||
Postretirement Benefit Plans | NOTE 9. POSTRETIREMENT BENEFIT PLANS | ||||||
We sponsor a number of pension and retiree health and life insurance benefit plans. Principal pension plans are the GE Pension Plan and the GE Supplementary Pension Plan. Principal retiree benefit plans provide health and life insurance benefits to certain eligible participants and these participants share in the cost of the healthcare benefits. 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. | |||||||
EFFECT ON OPERATIONS OF PENSION PLANS | |||||||
Principal pension plans | |||||||
Three months ended March 31 | |||||||
(In millions) | 2015 | 2014 | |||||
Service cost for benefits earned | $ | 361 | $ | 318 | |||
Prior service cost amortization | 52 | 54 | |||||
Expected return on plan assets | -825 | -801 | |||||
Interest cost on benefit obligations | 695 | 686 | |||||
Net actuarial loss amortization | 825 | 641 | |||||
Curtailment loss | 71 | (a) | - | ||||
Pension plans cost | $ | 1,179 | $ | 898 | |||
(a) Curtailment loss resulting from the GE Capital Exit Plan. | |||||||
Other pension plans | |||||||
Three months ended March 31 | |||||||
(In millions) | 2015 | 2014 | |||||
Service cost for benefits earned | $ | 105 | $ | 114 | |||
Prior service cost amortization | - | 1 | |||||
Expected return on plan assets | -209 | -197 | |||||
Interest cost on benefit obligations | 133 | 146 | |||||
Net actuarial loss amortization | 74 | 49 | |||||
Pension plans cost | $ | 103 | $ | 113 | |||
EFFECT ON OPERATIONS OF PRINCIPAL RETIREE HEALTH AND LIFE INSURANCE PLANS | |||||||
Principal retiree health | |||||||
and life insurance plans | |||||||
Three months ended March 31 | |||||||
(In millions) | 2015 | 2014 | |||||
Service cost for benefits earned | $ | 41 | $ | 44 | |||
Prior service cost amortization | 33 | 98 | |||||
Expected return on plan assets | -12 | -12 | |||||
Interest cost on benefit obligations | 101 | 110 | |||||
Net actuarial loss (gain) amortization | 1 | -43 | |||||
Curtailment loss | 4 | (a) | - | ||||
Retiree benefit plans cost | $ | 168 | $ | 197 | |||
(a) Curtailment loss resulting from the GE Capital Exit Plan. | |||||||
Income_Taxes
Income Taxes | 3 Months Ended | |||||
Mar. 31, 2015 | ||||||
Income Tax Disclosure [Abstract] | ||||||
Income Taxes | NOTE 10. INCOME TAXES | |||||
THE GE CAPITAL EXIT PLAN | ||||||
In conjunction with the GE Capital Exit Plan, GECC will significantly reduce its non-U.S. assets while continuing to operate appropriately capitalized non-U.S. businesses with substantial assets related to GECC’s vertical financing businesses – Energy Financial Services, GECAS and Healthcare Equipment Finance. As a result of the GE Capital Exit Plan, GECC recognized a tax expense of $5,980 million in the first quarter of 2015 consisting of $3,549 million related to expected repatriation of excess foreign cash in the amount of approximately $36 billion and the write-off of deferred tax assets of $2,431 million that will no longer be supported under this plan. | ||||||
GECC’s indefinitely reinvested earnings will be reduced as the expected repatriation of cash will include a portion of the earnings that prior to the approval of the GE Capital Exit Plan were indefinitely reinvested in GECC’s international operations. GECC’s indefinitely reinvested earnings will also be reduced by charges recognized in connection with the disposition of international assets with the remainder continuing to be reinvested in the significant international base of assets that will remain after the GE Capital Exit Plan is fully executed. The write-off of deferred tax assets largely relate to our Treasury operations in Ireland where the tax benefits will no longer be apparent to be realized upon implementation of the GE Capital Exit Plan. | ||||||
UNRECOGNIZED TAX BENEFITS | ||||||
UNRECOGNIZED TAX BENEFITS | ||||||
(In millions) | 31-Mar-15 | 31-Dec-14 | ||||
Unrecognized tax benefits | $ | 5,444 | $ | 5,619 | ||
Portion that, if recognized, would reduce tax expense and effective tax rate(a) | 4,020 | 4,059 | ||||
Accrued interest on unrecognized tax benefits | 814 | 807 | ||||
Accrued penalties on unrecognized tax benefits | 96 | 103 | ||||
Reasonably possible reduction to the balance of unrecognized tax benefits | ||||||
in succeeding 12 months | 0-800 | 0-900 | ||||
Portion that, if recognized, would reduce tax expense and effective tax rate(a) | 0-300 | 0-300 | ||||
(a) Some portion of such reduction may be reported as discontinued operations. | ||||||
The Internal Revenue Service (IRS) is currently auditing our consolidated U.S. income tax returns for 2010-2011. In addition, certain other U.S. tax deficiency issues and refund claims for previous years are still unresolved. The IRS has disallowed the tax loss on our 2003 disposition of ERC Life Reinsurance Corporation. We have contested the disallowance of this loss. It is reasonably possible that the unresolved items could be resolved 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. |
Shareowners_Equity
Shareowners' Equity | 3 Months Ended | ||||||||||
Mar. 31, 2015 | |||||||||||
Stockholders' Equity Note [Abstract] | |||||||||||
Shareowners' Equity | NOTE 11. SHAREOWNERS’ EQUITY | ||||||||||
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | |||||||||||
Three months ended March 31 | |||||||||||
(In millions) | 2015 | 2014 | |||||||||
Investment securities | |||||||||||
Beginning balance | $ | 1,013 | $ | 307 | |||||||
Other comprehensive income (loss) (OCI) before reclassifications – | |||||||||||
net of deferred taxes of $155 and $246 | 287 | 447 | |||||||||
Reclassifications from OCI – net of deferred taxes | |||||||||||
of $(29) and $7 | -54 | 10 | |||||||||
Other comprehensive income (loss)(a) | 233 | 457 | |||||||||
Less OCI attributable to noncontrolling interests | 1 | - | |||||||||
Ending balance | $ | 1,245 | $ | 764 | |||||||
Currency translation adjustments (CTA) | |||||||||||
Beginning balance | $ | -2,427 | $ | 126 | |||||||
OCI before reclassifications – net of deferred taxes | |||||||||||
of $1,544 and $71 | -5,339 | 47 | |||||||||
Reclassifications from OCI – net of deferred taxes | |||||||||||
of $(1) and $124 | 3 | 2 | |||||||||
Other comprehensive income (loss)(a) | -5,336 | 49 | |||||||||
Less OCI attributable to noncontrolling interests | -47 | -2 | |||||||||
Ending balance | $ | -7,716 | $ | 177 | |||||||
Cash flow hedges | |||||||||||
Beginning balance | $ | -180 | $ | -257 | |||||||
OCI before reclassifications – net of deferred taxes | |||||||||||
of $(38) and $71 | -926 | 99 | |||||||||
Reclassifications from OCI – net of deferred taxes | |||||||||||
of $117 and $(6) | 880 | -31 | |||||||||
Other comprehensive income (loss)(a) | -46 | 68 | |||||||||
Less OCI attributable to noncontrolling interests | - | - | |||||||||
Ending balance | $ | -226 | $ | -189 | |||||||
Benefit plans | |||||||||||
Beginning balance | $ | -16,578 | $ | -9,296 | |||||||
Net actuarial gain (loss) – net of deferred taxes | |||||||||||
of $65 and $42 | 210 | 172 | |||||||||
Net curtailment/settlement - net of deferred taxes | |||||||||||
of $27 and $0 | 48 | - | |||||||||
Prior service cost amortization – net of deferred taxes | |||||||||||
of $37 and $64 | 50 | 93 | |||||||||
Net actuarial loss amortization – net of deferred taxes | |||||||||||
of $304 and $213 | 601 | 430 | |||||||||
Other comprehensive income (loss)(a) | 909 | 695 | |||||||||
Less OCI attributable to noncontrolling interests | -2 | - | |||||||||
Ending balance | $ | -15,667 | $ | -8,601 | |||||||
Accumulated other comprehensive income (loss) at March 31 | $ | -22,364 | $ | -7,849 | |||||||
(a) Total other comprehensive income (loss) was $(4,240) million and $1,269 million in the three months ended March 31, 2015 and 2014, respectively. | |||||||||||
RECLASSIFICATION OUT OF AOCI | |||||||||||
Three months ended March 31 | |||||||||||
(In millions) | 2015 | 2014 | Statement of Earnings Caption | ||||||||
Available-for-sale securities | |||||||||||
Realized gains (losses) on | |||||||||||
sale/impairment of securities | $ | 83 | $ | -17 | Other income | ||||||
-29 | 7 | Benefit (provision) for income taxes | |||||||||
$ | 54 | $ | -10 | Net of tax | |||||||
Currency translation adjustments | |||||||||||
Gains (losses) on dispositions | $ | -2 | $ | -126 | Costs and expenses | ||||||
-1 | 124 | Benefit (provision) for income taxes | |||||||||
$ | -3 | $ | -2 | Net of tax | |||||||
Cash flow hedges | |||||||||||
Gains (losses) on interest rate derivatives | $ | -39 | $ | -69 | Interest and other financial charges | ||||||
Foreign exchange contracts | -958 | 128 | (a) | ||||||||
Other | - | -22 | (b) | ||||||||
-997 | 37 | Total before tax | |||||||||
117 | -6 | Benefit (provision) for income taxes | |||||||||
$ | -880 | $ | 31 | Net of tax | |||||||
Benefit plan items | |||||||||||
Curtailment loss | $ | -75 | $ | - | (c) | ||||||
Amortization of prior service costs | -87 | -157 | (c) | ||||||||
Amortization of actuarial gains (losses) | -905 | -643 | (c) | ||||||||
-1,067 | -800 | Total before tax | |||||||||
368 | 277 | Benefit (provision) for income taxes | |||||||||
$ | -699 | $ | -523 | Net of tax | |||||||
Total reclassification adjustments | $ | -1,528 | $ | -504 | Net of tax | ||||||
Included $(944) million and $134 million in GECC revenues from services and $(14) million and $(6) million in interest and other financial charges in the three months ended March 31, 2015 and 2014, respectively. | |||||||||||
Primarily recorded in costs and expenses. | |||||||||||
Curtailment loss, amortization of prior service costs and actuarial gains and losses out of AOCI are included in the computation of net periodic pension costs. See Note 9 for further information. | |||||||||||
Noncontrolling Interests | |||||||||||
Noncontrolling interests in equity of consolidated affiliates includes common shares in consolidated affiliates and preferred stock issued by our affiliates. | |||||||||||
GECC preferred stock is presented as noncontrolling interests in the GE consolidated Statement of Financial Position. GECC preferred stock dividends are presented as noncontrolling interests in the GE consolidated Statement of Earnings. The balance is summarized as follows. | |||||||||||
(In millions) | 31-Mar-15 | 31-Dec-14 | |||||||||
GECC preferred stock | $ | 4,950 | $ | 4,950 | |||||||
Synchrony Financial | 2,617 | 2,531 | |||||||||
Other noncontrolling interests in consolidated affiliates(a) | 1,171 | 1,193 | |||||||||
Total | $ | 8,738 | $ | 8,674 | |||||||
(a) Consisted of a number of individually insignificant noncontrolling interests in partnerships and consolidated affiliates. | |||||||||||
CHANGES TO NONCONTROLLING INTERESTS | |||||||||||
Three months ended March 31 | |||||||||||
(In millions) | 2015 | 2014 | |||||||||
Beginning balance | $ | 8,674 | $ | 6,217 | |||||||
Net earnings (loss) | -31 | -33 | |||||||||
Dividends | -2 | -10 | |||||||||
Other (including AOCI)(a) | 97 | 9 | |||||||||
Ending balance | $ | 8,738 | $ | 6,183 | |||||||
(a) Includes research & development partner funding arrangements, acquisitions and eliminations. | |||||||||||
Other | |||||||||||
GE’s authorized common stock consists of 13,200,000,000 shares having a par value of $0.06 each. | |||||||||||
GECC paid quarterly dividends of $450 million and $500 million to GE in the three months ended March 31, 2015 and 2014, respectively. No special dividends were paid in the three months ended March 31, 2015 and 2014, respectively. |
GECC_Revenues_From_Services
GECC Revenues From Services | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Financial Services Revenue [Abstract] | |||||||||
GECC Revenues From Services | NOTE 12. GECC REVENUES FROM SERVICES | ||||||||
Three months ended March 31 | |||||||||
(In millions) | 2015 | 2014 | |||||||
Interest on loans | $ | 3,807 | $ | 4,029 | |||||
Equipment leased to others | 2,427 | 2,661 | |||||||
Fees | 1,048 | 1,086 | |||||||
Investment income(a) | 622 | 558 | |||||||
Associated companies | 388 | 373 | |||||||
Premiums earned by insurance activities | 329 | 352 | |||||||
Financing leases | 307 | 387 | |||||||
Other items(b) | -2,967 | 412 | |||||||
5,961 | 9,858 | ||||||||
Eliminations | -431 | -356 | |||||||
Total | $ | 5,530 | $ | 9,502 | |||||
Included net other-than-temporary impairments on investment securities of $3 million and $6 million in the three months ended March 31, 2015 and 2014, respectively. | |||||||||
During the three months ended March 31, 2015, other items primarily comprised estimated losses on CLL businesses classified as assets of businesses held for sale ($1,845 million) and impairments related to equity method investments ($1,404 million) in connection with the GE Capital Exit Plan. | |||||||||
Earnings_Per_Share_Information
Earnings Per Share Information | 3 Months Ended | |||||||||||
Mar. 31, 2015 | ||||||||||||
Earnings Per Share [Abstract] | ||||||||||||
Earnings Per Share Information | NOTE 13. EARNINGS PER SHARE INFORMATION | |||||||||||
Three months ended March 31 | ||||||||||||
2015 | 2014 | |||||||||||
(In millions; per-share amounts in dollars) | Diluted | Basic | Diluted | Basic | ||||||||
Amounts attributable to the Company: | ||||||||||||
Consolidated | ||||||||||||
Earnings (loss) from continuing operations attributable to | ||||||||||||
common shareowners for per-share calculation(a)(b) | $ | -11,374 | $ | -11,374 | $ | 2,743 | $ | 2,743 | ||||
Earnings (loss) from discontinued operations | ||||||||||||
for per-share calculation(a)(b) | -2,205 | -2,205 | 252 | 252 | ||||||||
Net earnings (loss) attributable to GE common | ||||||||||||
shareowners for per-share calculation(a)(b) | $ | -13,576 | $ | -13,576 | $ | 2,995 | $ | 2,995 | ||||
Average equivalent shares | ||||||||||||
Shares of GE common stock outstanding | 10,067 | 10,067 | 10,045 | 10,045 | ||||||||
Employee compensation-related shares (including | ||||||||||||
stock options) | - | - | 78 | - | ||||||||
Total average equivalent shares | 10,067 | 10,067 | 10,123 | 10,045 | ||||||||
Per-share amounts | ||||||||||||
Earnings (loss) from continuing operations | $ | -1.13 | $ | -1.13 | $ | 0.27 | $ | 0.27 | ||||
Earnings (loss) from discontinued operations | -0.22 | -0.22 | 0.02 | 0.03 | ||||||||
Net earnings (loss) | -1.35 | -1.35 | 0.3 | 0.3 | ||||||||
Our unvested restricted stock unit awards that contain non-forfeitable rights to dividends or dividend equivalents are considered participating securities. For the period ended March 31, 2015, pursuant to the two-class method, as a result of the net loss from continuing operations, losses were not allocated to the participating securities. For the period ended March 31, 2014, participating securities are included in the computation of earnings (loss) per share pursuant to the two-class method and the application of this treatment had an insignificant effect. | ||||||||||||
Included an insignificant amount of dividend equivalents in each of the periods presented. | ||||||||||||
As a result of the loss from continuing operations for the three months ended March 31, 2015, all of the outstanding stock awards, approximately 312 million, were not included in the computation of diluted earnings (loss) per share because their effect was antidilutive. For the three months ended March 31, 2014, approximately 72 million of outstanding stock awards were not included in the computation of diluted earnings (loss) per share because their effect was antidilutive. | ||||||||||||
Earnings (loss) per share amounts are computed independently, 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 (loss). |
Fair_Value_Measurements
Fair Value Measurements | 3 Months Ended | |||||||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||||||
Fair Value Measurements | NOTE 14. FAIR VALUE MEASUREMENTS | |||||||||||||||||||||||||||
Recurring Fair Value Measurements | ||||||||||||||||||||||||||||
Our assets and liabilities measured at fair value on a recurring basis include investment securities primarily supporting obligations to annuitants and policyholders in our run-off insurance operations and supporting obligations to holders of GICs in Trinity | ||||||||||||||||||||||||||||
ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASIS | ||||||||||||||||||||||||||||
Netting | ||||||||||||||||||||||||||||
(In millions) | Level 1 | (a) | Level 2 | (a) | Level 3 | adjustment | (b) | Net balance | ||||||||||||||||||||
31-Mar-15 | ||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||
Investment securities | ||||||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||||||
U.S. corporate | $ | - | $ | 21,073 | $ | 3,226 | $ | - | $ | 24,299 | ||||||||||||||||||
State and municipal | - | 5,032 | 552 | - | 5,584 | |||||||||||||||||||||||
Residential mortgage-backed | - | 1,222 | 3 | - | 1,225 | |||||||||||||||||||||||
Commercial mortgage-backed | - | 2,595 | 2 | - | 2,597 | |||||||||||||||||||||||
Asset-backed | - | 183 | 112 | - | 295 | |||||||||||||||||||||||
Corporate – non-U.S. | 13 | 641 | 397 | - | 1,051 | |||||||||||||||||||||||
Government – non-U.S. | 55 | 1,411 | 2 | - | 1,468 | |||||||||||||||||||||||
U.S. government and federal agency | - | 4,824 | 291 | - | 5,115 | |||||||||||||||||||||||
Retained interests | - | - | 17 | - | 17 | |||||||||||||||||||||||
Equity | ||||||||||||||||||||||||||||
Available-for-sale | 296 | 20 | 6 | - | 322 | |||||||||||||||||||||||
Trading | 19 | - | - | - | 19 | |||||||||||||||||||||||
Derivatives(c) | - | 11,508 | 58 | -8,546 | 3,020 | |||||||||||||||||||||||
Other(d) | - | - | 225 | - | 225 | |||||||||||||||||||||||
Total | $ | 383 | $ | 48,509 | $ | 4,891 | $ | -8,546 | $ | 45,237 | ||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||
Derivatives | $ | - | $ | 6,861 | $ | 20 | $ | -5,722 | $ | 1,159 | ||||||||||||||||||
Other(e) | - | 1,210 | - | - | 1,210 | |||||||||||||||||||||||
Total | $ | - | $ | 8,071 | $ | 20 | $ | -5,722 | $ | 2,369 | ||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||
Investment securities | ||||||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||||||
U.S. corporate | $ | - | $ | 20,659 | $ | 3,140 | $ | - | $ | 23,799 | ||||||||||||||||||
State and municipal | - | 5,171 | 578 | - | 5,749 | |||||||||||||||||||||||
Residential mortgage-backed | - | 1,709 | 16 | - | 1,725 | |||||||||||||||||||||||
Commercial mortgage-backed | - | 3,054 | 9 | - | 3,063 | |||||||||||||||||||||||
Asset-backed(f) | - | 343 | 7,575 | - | 7,918 | |||||||||||||||||||||||
Corporate – non-U.S. | - | 680 | 456 | - | 1,136 | |||||||||||||||||||||||
Government – non-U.S. | 56 | 1,738 | 2 | - | 1,796 | |||||||||||||||||||||||
U.S. government and federal agency | - | 1,747 | 266 | - | 2,013 | |||||||||||||||||||||||
Retained interests | - | - | 17 | - | 17 | |||||||||||||||||||||||
Equity | - | |||||||||||||||||||||||||||
Available-for-sale | 293 | 19 | 9 | - | 321 | |||||||||||||||||||||||
Trading | 21 | - | - | - | 21 | |||||||||||||||||||||||
Derivatives(c) | - | 10,038 | 54 | -7,605 | 2,487 | |||||||||||||||||||||||
Other(d) | - | - | 277 | - | 277 | |||||||||||||||||||||||
Total | $ | 370 | $ | 45,158 | $ | 12,399 | $ | -7,605 | $ | 50,322 | ||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||
Derivatives | $ | - | $ | 4,971 | $ | 18 | $ | -4,407 | $ | 582 | ||||||||||||||||||
Other(e) | - | 1,178 | - | - | 1,178 | |||||||||||||||||||||||
Total | $ | - | $ | 6,149 | $ | 18 | $ | -4,407 | $ | 1,760 | ||||||||||||||||||
(a) There were no securities transferred between Level 1 and Level 2 in the three months ended March 31, 2015. There were $487 million of Government – non-U.S. and $13 million of Corporate – non-U.S. available-for-sale debt securities transferred from Level 1 to Level 2 in the twelve months ended December 31, 2014 primarily attributable to changes in market observable data. | ||||||||||||||||||||||||||||
(b) The netting of derivative receivables and payables (including the effects of any collateral posted or received) is permitted when a legally enforceable master netting agreement exists. | ||||||||||||||||||||||||||||
(c) The fair value of derivatives includes an adjustment for non-performance risk. The cumulative adjustment was a gain (loss) of $6 million and $9 million at March 31, 2015 and December 31, 2014, respectively. See Note 15 for additional information on the composition of our derivative portfolio. | ||||||||||||||||||||||||||||
(d) Includes private equity investments. | ||||||||||||||||||||||||||||
(e) Primarily represented the liability associated with certain of our deferred incentive compensation plans. | ||||||||||||||||||||||||||||
(f) Includes investments in our CLL business in asset-backed securities collateralized by senior secured loans of high-quality, middle-market companies in a variety of industries. | ||||||||||||||||||||||||||||
Level 3 Instruments | ||||||||||||||||||||||||||||
The majority of our Level 3 balances consist of investment securities classified as available-for-sale with changes in fair value recorded in shareowners’ equity. | ||||||||||||||||||||||||||||
CHANGES IN LEVEL 3 INSTRUMENTS FOR THE THREE MONTHS ENDED | ||||||||||||||||||||||||||||
Net | ||||||||||||||||||||||||||||
change in | ||||||||||||||||||||||||||||
Net | Net | unrealized | ||||||||||||||||||||||||||
realized/ | realized/ | gains | ||||||||||||||||||||||||||
unrealized | unrealized | (losses) | ||||||||||||||||||||||||||
gains | gains | relating to | ||||||||||||||||||||||||||
(losses) | (losses) | Transfers | Transfers | instruments | ||||||||||||||||||||||||
Balance at | included | included | into | out of | Balance at | still held at | ||||||||||||||||||||||
(In millions) | 1-Jan | in earnings(a) | in AOCI | Purchases | Sales | Settlements | Level 3(b) | Level 3(b) | 31-Mar | March 31(c ) | ||||||||||||||||||
2015 | ||||||||||||||||||||||||||||
Investment securities | ||||||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||||||
U.S. corporate | $ | 3,140 | $ | 8 | $ | 61 | $ | 94 | $ | -18 | $ | -36 | $ | - | $ | -23 | $ | 3,226 | $ | - | ||||||||
State and municipal | 578 | - | - | 7 | -31 | -2 | - | - | 552 | - | ||||||||||||||||||
RMBS | 16 | 5 | -4 | - | -14 | - | - | - | 3 | - | ||||||||||||||||||
CMBS | 9 | - | - | - | -7 | - | - | - | 2 | - | ||||||||||||||||||
ABS | 7,575 | - | 160 | 140 | -11 | -442 | - | -7,310 | 112 | - | ||||||||||||||||||
Corporate – non-U.S. | 456 | - | -7 | 252 | -57 | -245 | - | -2 | 397 | - | ||||||||||||||||||
Government – non-U.S. | 2 | - | - | - | - | - | - | - | 2 | - | ||||||||||||||||||
U.S. government and | ||||||||||||||||||||||||||||
federal agency | 266 | - | 26 | - | - | -1 | - | - | 291 | - | ||||||||||||||||||
Retained interests | 17 | - | - | 1 | - | -1 | - | - | 17 | - | ||||||||||||||||||
Equity | ||||||||||||||||||||||||||||
Available-for-sale | 9 | 2 | -2 | - | - | -3 | - | - | 6 | - | ||||||||||||||||||
Derivatives(d)(e) | 45 | 4 | 2 | - | - | -2 | - | -1 | 48 | 4 | ||||||||||||||||||
Other | 277 | -38 | - | - | -14 | - | - | - | 225 | -38 | ||||||||||||||||||
Total | $ | 12,390 | $ | -19 | $ | 236 | $ | 494 | $ | -152 | $ | -732 | $ | - | $ | -7,336 | $ | 4,881 | $ | -34 | ||||||||
2014 | ||||||||||||||||||||||||||||
Investment securities | ||||||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||||||
U.S. corporate | $ | 2,953 | $ | 8 | $ | 60 | $ | 153 | $ | -2 | $ | -112 | $ | 97 | $ | -53 | $ | 3,104 | $ | - | ||||||||
State and municipal | 96 | - | 27 | 9 | - | -7 | 435 | - | 560 | - | ||||||||||||||||||
RMBS | 86 | - | -1 | - | - | -4 | - | - | 81 | - | ||||||||||||||||||
CMBS | 10 | - | - | - | - | -1 | 2 | - | 11 | - | ||||||||||||||||||
ABS | 6,898 | 1 | -27 | 405 | - | -369 | - | - | 6,908 | - | ||||||||||||||||||
Corporate – non-U.S. | 678 | 1 | 15 | 219 | -2 | -223 | - | - | 688 | - | ||||||||||||||||||
Government – non-U.S. | 31 | - | - | - | - | - | - | -30 | 1 | - | ||||||||||||||||||
U.S. government and | ||||||||||||||||||||||||||||
federal agency | 225 | - | 9 | - | - | - | - | -2 | 232 | - | ||||||||||||||||||
Retained interests | 21 | - | - | 1 | - | -2 | - | - | 20 | - | ||||||||||||||||||
Equity | ||||||||||||||||||||||||||||
Available-for-sale | 11 | - | - | - | - | - | - | - | 11 | - | ||||||||||||||||||
Derivatives(d)(e) | 21 | 7 | - | -1 | - | 2 | -1 | - | 28 | 13 | ||||||||||||||||||
Other | 480 | 1 | - | - | -13 | - | - | -279 | 189 | -9 | ||||||||||||||||||
Total | $ | 11,510 | $ | 18 | $ | 83 | $ | 786 | $ | -17 | $ | -716 | $ | 533 | $ | -364 | $ | 11,833 | $ | 4 | ||||||||
Earnings effects are primarily included in the “GECC revenues from services” and “Interest and other financial charges” captions in the Statement of Earnings (Loss). | ||||||||||||||||||||||||||||
Transfers in and out of Level 3 are considered to occur at the beginning of the period. Transfers out of Level 3 for the three months ended March 31, 2015 were primarily a result of the reclassification of investments in our CLL business in asset-backed securities collateralized by senior secured loans of high-quality, middle-market companies in a variety of industries to assets of business held for sale. Transfers out of Level 3 for the three months ended March 31, 2014 were primarily a result of increased use of quotes from independent pricing vendors based on recent trading activity. | ||||||||||||||||||||||||||||
Represents the amount of unrealized gains or losses for the period included in earnings. | ||||||||||||||||||||||||||||
Represents derivative assets net of derivative liabilities and included cash accruals of $10 million and $6 million not reflected in the fair value hierarchy table for the three months ended March 31, 2015 and 2014, respectively. | ||||||||||||||||||||||||||||
Gains (losses) included in net realized/unrealized gains (losses) included in earnings were offset by the earnings effects from the underlying items that were economically hedged. See Note 15. | ||||||||||||||||||||||||||||
Non-Recurring Fair Value Measurements | ||||||||||||||||||||||||||||
The following table represents non-recurring fair value amounts (as measured at the time of the adjustment) for those assets remeasured to fair value on a non-recurring basis during the fiscal year and still held at March 31, 2015 and December 31, 2014. | ||||||||||||||||||||||||||||
Remeasured during | Remeasured during | |||||||||||||||||||||||||||
the three months ended | the year ended | |||||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||||||||||
(In millions) | Level 2 | Level 3 | Level 2 | Level 3 | ||||||||||||||||||||||||
Financing receivables and financing receivables held for sale | $ | - | $ | 41,644 | $ | 49 | $ | 808 | ||||||||||||||||||||
Cost and equity method investments | - | 2,151 | 2 | 399 | ||||||||||||||||||||||||
Long-lived assets, including real estate | - | 2,351 | 364 | 836 | ||||||||||||||||||||||||
Total | $ | - | $ | 46,146 | $ | 415 | $ | 2,043 | ||||||||||||||||||||
The following table represents the fair value adjustments to assets measured at fair value on a non-recurring basis and still held at March 31, 2015 and 2014. | ||||||||||||||||||||||||||||
Three months ended March 31 | ||||||||||||||||||||||||||||
(In millions) | 2015 | 2014 | ||||||||||||||||||||||||||
Financing receivables and financing receivables held for sale | $ | -4,000 | $ | -119 | ||||||||||||||||||||||||
Cost and equity method investments | -1,462 | -208 | ||||||||||||||||||||||||||
Long-lived assets, including real estate | -602 | -64 | ||||||||||||||||||||||||||
Total | $ | -6,064 | $ | -391 | ||||||||||||||||||||||||
LEVEL 3 MEASUREMENTS - SIGNIFICANT UNOBSERVABLE INPUTS | ||||||||||||||||||||||||||||
Range | ||||||||||||||||||||||||||||
(Dollars in millions) | Fair value | Valuation technique | Unobservable inputs | (weighted average) | ||||||||||||||||||||||||
31-Mar-15 | ||||||||||||||||||||||||||||
Recurring fair value measurements | ||||||||||||||||||||||||||||
Investment securities – Debt | ||||||||||||||||||||||||||||
U.S. corporate | $ | 1,015 | Income approach | Discount rate(a) | 1.7%-13.2% (6.7%) | |||||||||||||||||||||||
State and municipal | 456 | Income approach | Discount rate(a) | 2.8%-6.3% (4.8%) | ||||||||||||||||||||||||
Asset-backed | 99 | Income approach | Discount rate(a) | 5.3%-9.0% (5.6%) | ||||||||||||||||||||||||
Corporate – non-U.S. | 333 | Income approach | Discount rate(a) | 0.2%-14.0% (5.6%) | ||||||||||||||||||||||||
Other financial assets | 195 | Income approach, | EBITDA multiple | 6.6X-9.0X (8.1X) | ||||||||||||||||||||||||
Market comparables | Capitalization rate(b) | 6.5%-7.8% (7.7%) | ||||||||||||||||||||||||||
Non-recurring fair value measurements | ||||||||||||||||||||||||||||
Financing receivables and | ||||||||||||||||||||||||||||
financing receivables held for sale | $ | 40,043 | Income approach | Discount rate(a) | 1.0%-30.0% (8.5%) | |||||||||||||||||||||||
Cost and equity method investments | 1,928 | Market comparables | Price to book multiple | 0.4X-1.0X (0.6X) | ||||||||||||||||||||||||
Long-lived assets, including real estate | 381 | Income approach | Capitalization rate(b) | 4.5%-15.4% (7.6%) | ||||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||||||
Recurring fair value measurements | ||||||||||||||||||||||||||||
Investment securities – Debt | ||||||||||||||||||||||||||||
U.S. corporate | $ | 980 | Income approach | Discount rate(a) | 1.5%-14.8% (6.6%) | |||||||||||||||||||||||
State and municipal | 481 | Income approach | Discount rate(a) | 1.9%-5.9% (2.8%) | ||||||||||||||||||||||||
Asset-backed | 7,554 | Income approach | Discount rate(a) | 2.2%-12.4% (5.0%) | ||||||||||||||||||||||||
Corporate – non-U.S. | 388 | Income approach | Discount rate(a) | 0.4%-14.0% (5.7%) | ||||||||||||||||||||||||
Other financial assets | 117 | Income approach, | EBITDA multiple | 5.4X-9.1X (7.7X) | ||||||||||||||||||||||||
Market comparables | Capitalization rate(b) | 6.5%-7.8% (7.7%) | ||||||||||||||||||||||||||
Non-recurring fair value measurements | ||||||||||||||||||||||||||||
Financing receivables and | ||||||||||||||||||||||||||||
financing receivables held for sale | $ | 82 | Business enterprise | EBITDA multiple | 4.3X-6.5X (6.2X) | |||||||||||||||||||||||
value | ||||||||||||||||||||||||||||
Cost and equity method investments | 343 | Income approach, | Discount rate(a) | 8.0%-10.0% (9.4%) | ||||||||||||||||||||||||
Business enterprise | EBITDA multiple | 1.8X-10.5X (7.0X) | ||||||||||||||||||||||||||
value, Market comparables | ||||||||||||||||||||||||||||
Long-lived assets, including real estate | 666 | Income approach | Discount rate(a) | 2.0%-19.0% (6.8%) | ||||||||||||||||||||||||
Discount rates are determined based on inputs that market participants would use when pricing investments, including credit and liquidity risk. An increase in the discount rate would result in a decrease in the fair value. | ||||||||||||||||||||||||||||
Represents the rate of return on net operating income that is considered acceptable for an investor and is used to determine a property’s capitalized value. An increase in the capitalization rate would result in a decrease in the fair value. | ||||||||||||||||||||||||||||
At March 31, 2015 and December 31, 2014, other Level 3 recurring fair value measurements of $2,679 million and $2,600 million, respectively, and non-recurring measurements of $3,741 million and $844 million, respectively, are valued using non-binding broker quotes or other third-party sources. At March 31, 2015 and December 31, 2014, other recurring fair value measurements of $94 million and $261 million, respectively, and non-recurring fair value measurements of $53 million and $108 million, respectively, were individually insignificant and utilize a number of different unobservable inputs not subject to meaningful aggregation. |
Financial_Instruments
Financial Instruments | 3 Months Ended | |||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||
Financial Instruments [Abstract] | ||||||||||||||||||
Financial Instruments | NOTE 15. FINANCIAL INSTRUMENTS | |||||||||||||||||
The following table provides information about assets and liabilities not carried at fair value. The table excludes finance leases and non-financial assets and liabilities. Substantially all of the assets discussed below are considered to be Level 3. The vast majority of our liabilities’ fair value can be determined based on significant observable inputs and thus considered Level 2. Few of the instruments 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. | ||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||
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) | $ | 505 | $ | 552 | $ | (a) | $ | 502 | $ | 551 | ||||||
Liabilities | ||||||||||||||||||
Borrowings(b) | (a) | -16,258 | -17,471 | (a) | -16,340 | -17,503 | ||||||||||||
GECC | ||||||||||||||||||
Assets | ||||||||||||||||||
Loans | (a) | 72,748 | 78,974 | (a) | 193,214 | 197,833 | ||||||||||||
Other commercial mortgages | (a) | 1,430 | 1,569 | (a) | 1,427 | 1,508 | ||||||||||||
Loans held for sale | (a) | 76,679 | 76,797 | (a) | 1,830 | 1,855 | ||||||||||||
Other financial instruments(c) | (a) | 239 | 315 | (a) | 566 | 786 | ||||||||||||
Liabilities | ||||||||||||||||||
Borrowings and bank deposits(b)(d) | (a) | -335,941 | -351,046 | (a) | -349,041 | -365,724 | ||||||||||||
Investment contract benefits | (a) | -2,923 | -3,553 | (a) | -2,970 | -3,565 | ||||||||||||
Guaranteed investment contracts | (a) | -1,000 | -1,049 | (a) | -1,000 | -1,031 | ||||||||||||
Insurance – credit life(e) | - | - | - | 1,843 | -90 | -77 | ||||||||||||
(a) These financial instruments do not have notional amounts. | ||||||||||||||||||
(b) See Note 8. | ||||||||||||||||||
(c) Principally comprises 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, 2015 and December 31, 2014 would have been reduced by $4,514 million and $5,020 million, respectively. | ||||||||||||||||||
(e) Net of reinsurance of none and $964 million at March 31, 2015 and December 31, 2014, respectively. | ||||||||||||||||||
NOTIONAL AMOUNTS OF LOAN COMMITMENTS | ||||||||||||||||||
(In millions) | 31-Mar-15 | 31-Dec-14 | ||||||||||||||||
Ordinary course of business lending commitments(a) | $ | 2,935 | $ | 3,239 | ||||||||||||||
Unused revolving credit lines(b) | ||||||||||||||||||
Commercial(c) | 12,987 | 14,681 | ||||||||||||||||
Consumer – principally credit cards | 309,688 | 306,188 | ||||||||||||||||
Excluded investment commitments of $742 million and $835 million at March 31, 2015 and December 31, 2014, respectively. | ||||||||||||||||||
Excluded amounts related to inventory financing arrangements, which may be withdrawn at our option, of $13,530 million and $15,041 million at March 31, 2015 and December 31, 2014, respectively. | ||||||||||||||||||
Included amounts related to commitments of $9,434 million and $10,509 million at March 31, 2015 and December 31, 2014, respectively, associated with secured financing arrangements that could have increased to a maximum of $11,656 million and $12,353 million at March 31, 2015 and December 31, 2014, respectively, based on asset volume under the arrangement. | ||||||||||||||||||
Securities Repurchase and Reverse Repurchase Arrangements | ||||||||||||||||||
Our issuances of securities repurchase agreements are insignificant and are limited to activities at certain of our foreign banks primarily for purposes of liquidity management. At March 31, 2015, we were party to repurchase agreements totaling $45 million, which were reported in short-term borrowings on the financial statements. No repurchase agreements were accounted for as off-book financing and we do not engage in securities lending transactions. | ||||||||||||||||||
We also enter into reverse securities repurchase agreements, primarily for short-term investment with maturities of 90 days or less. At March 31, 2015, we were party to reverse repurchase agreements totaling $12.1 billion, which were reported in cash and equivalents on the financial statements. Under these reverse securities repurchase agreements, we typically lend available cash at a specified rate of interest and hold U.S. or highly-rated European government securities as collateral during the term of the agreement. Collateral value is in excess of amounts loaned under the agreements. | ||||||||||||||||||
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 within pre-defined limits. 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 market related factors that affect the type of debt we can issue. | ||||||||||||||||||
The notional amounts of derivative contracts represent the basis upon which interest and other payments are calculated and are reported gross, except for offsetting foreign currency forward contracts that are executed in order to manage our currency risk of net investment in foreign subsidiaries. Of the outstanding notional amount of $258,000 million, approximately 86% or $223,000 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 and contracts containing certain clauses that meet the accounting definition of a derivative. The instruments used in these activities are designated as hedges when practicable. When we are not able to apply hedge accounting, or when the derivative and the hedged item are both recorded in earnings concurrently, the derivatives are deemed economic hedges and hedge accounting is not applied. This most frequently occurs when we hedge a recognized foreign currency transaction (e.g., a receivable or payable) with a derivative. Since the effects of changes in exchange rates are reflected concurrently in earnings for both the derivative and the transaction, the economic hedge does not require hedge accounting. | ||||||||||||||||||
FAIR VALUE OF DERIVATIVES | ||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||
(In millions) | Assets | Liabilities | Assets | Liabilities | ||||||||||||||
Derivatives accounted for as hedges | ||||||||||||||||||
Interest rate contracts | $ | 6,106 | $ | 241 | $ | 5,859 | $ | 461 | ||||||||||
Currency exchange contracts | 3,353 | 1,627 | 2,579 | 884 | ||||||||||||||
Other contracts | - | 4 | - | 2 | ||||||||||||||
9,459 | 1,872 | 8,438 | 1,347 | |||||||||||||||
Derivatives not accounted for as hedges | ||||||||||||||||||
Interest rate contracts | 152 | 133 | 186 | 137 | ||||||||||||||
Currency exchange contracts | 1,693 | 4,822 | 1,212 | 3,450 | ||||||||||||||
Other contracts | 262 | 54 | 256 | 55 | ||||||||||||||
2,107 | 5,009 | 1,654 | 3,642 | |||||||||||||||
Gross derivatives recognized in statement of | ||||||||||||||||||
financial position | ||||||||||||||||||
Gross derivatives | 11,566 | 6,881 | 10,092 | 4,989 | ||||||||||||||
Gross accrued interest | 947 | -31 | 1,398 | -18 | ||||||||||||||
12,513 | 6,850 | 11,490 | 4,971 | |||||||||||||||
Amounts offset in statement of financial position | ||||||||||||||||||
Netting adjustments(a) | -5,223 | -5,229 | -3,896 | -3,905 | ||||||||||||||
Cash collateral(b) | -3,323 | -493 | -3,709 | -502 | ||||||||||||||
-8,546 | -5,722 | -7,605 | -4,407 | |||||||||||||||
Net derivatives recognized in statement of | ||||||||||||||||||
financial position | ||||||||||||||||||
Net derivatives | 3,967 | 1,128 | 3,885 | 564 | ||||||||||||||
Amounts not offset in statement of | ||||||||||||||||||
financial position | ||||||||||||||||||
Securities held as collateral(c) | -2,325 | - | -3,268 | - | ||||||||||||||
Net amount | $ | 1,642 | $ | 1,128 | $ | 617 | $ | 564 | ||||||||||
Derivatives are classified in the captions “All other assets” and “All other liabilities” and the related accrued interest is classified in “Other GECC receivables” and “All other liabilities” in our financial statements. | ||||||||||||||||||
The netting of derivative receivables and payables is permitted when a legally enforceable master netting agreement exists. Amounts include fair value adjustments related to our own and counterparty non-performance risk. At March 31, 2015 and December 31, 2014, the cumulative adjustment for non-performance risk was a gain (loss) of $6 million and $9 million, respectively. | ||||||||||||||||||
Excluded excess cash collateral received and posted of $157 million and $255 million at March 31, 2015, respectively, and $63 million and $211 million at December 31, 2014, respectively. | ||||||||||||||||||
Excluded excess securities collateral received of $196 million and $317 million at March 31, 2015 and December 31, 2014, respectively. | ||||||||||||||||||
Fair value hedges | ||||||||||||||||||
We use interest rate and currency exchange derivatives to hedge the fair value effects of interest rate and currency exchange rate changes on local and non-functional currency denominated fixed-rate debt. For relationships designated as fair value hedges, changes in fair value of the derivatives are recorded in earnings within interest and other financial charges, along with offsetting adjustments to the carrying amount of the hedged debt. | ||||||||||||||||||
EARNINGS EFFECTS OF FAIR VALUE HEDGING RELATIONSHIPS | ||||||||||||||||||
Three months ended March 31 | ||||||||||||||||||
2015 | 2014 | |||||||||||||||||
Gain (loss) | Gain (loss) | Gain (loss) | Gain (loss) | |||||||||||||||
on hedging | on hedged | on hedging | on hedged | |||||||||||||||
(In millions) | derivatives | items | derivatives | items | ||||||||||||||
Interest rate contracts | $ | 1,060 | $ | -1,091 | $ | 990 | $ | -1,005 | ||||||||||
Currency exchange contracts | -7 | 6 | 2 | -3 | ||||||||||||||
Fair value hedges resulted in $(32) million and $(16) million of ineffectiveness in the three months ended March 31, 2015 and 2014, respectively. In both the three months ended March 31, 2015 and 2014, there were insignificant amounts excluded from the assessment of effectiveness. | ||||||||||||||||||
Cash flow hedges | ||||||||||||||||||
We use interest rate, currency exchange and commodity derivatives to reduce the variability of expected future cash flows associated with variable rate borrowings and commercial purchase and sale transactions, including commodities. For derivatives that are designated in a cash flow hedging relationship, the effective portion of the change in fair value of the derivative is reported as a component of AOCI and reclassified into earnings contemporaneously and in the same caption with the earnings effects of the hedged transaction. | ||||||||||||||||||
Gain (loss) reclassified | ||||||||||||||||||
Gain (loss) recognized in AOCI | from AOCI into earnings | |||||||||||||||||
for the three months ended March 31 | for the three months ended March 31 | |||||||||||||||||
(In millions) | 2015 | 2014 | 2015 | 2014 | ||||||||||||||
Interest rate contracts | $ | -3 | $ | 3 | $ | -39 | $ | -69 | ||||||||||
Currency exchange contracts | -1,077 | 156 | -957 | 108 | ||||||||||||||
Commodity contracts | -3 | -2 | -1 | -2 | ||||||||||||||
Total(a) | $ | -1,083 | $ | 157 | $ | -997 | $ | 37 | ||||||||||
(a) Gain (loss) is recorded in GECC revenues from services, interest and other financial charges, and other costs and expenses when reclassified to earnings. | ||||||||||||||||||
The total pre-tax amount in AOCI related to cash flow hedges of forecasted transactions was a $205 million loss at March 31, 2015. We expect to transfer $303 million to earnings as an expense in the next 12 months contemporaneously with the earnings effects of the related forecasted transactions. In both the three months ended March 31, 2015 and 2014, we recognized insignificant gains and losses related to hedged forecasted transactions and firm commitments that did not occur by the end of the originally specified period. At March 31, 2015 and 2014, the maximum term of derivative instruments that hedge forecasted transactions was 18 years and 19 years, respectively. See Note11 for additional information about reclassifications out of AOCI. | ||||||||||||||||||
For cash flow hedges, the amount of ineffectiveness in the hedging relationship and amount of the changes in fair value of the derivatives that are not included in the measurement of ineffectiveness were insignificant for each reporting period. | ||||||||||||||||||
Net investment hedges in foreign operations | ||||||||||||||||||
We use currency exchange derivatives to protect our net investments in global operations conducted in non-U.S. dollar currencies. For derivatives that are designated as hedges of net investment in a foreign operation, we assess effectiveness based on changes in spot currency exchange rates. Changes in spot rates on the derivative are recorded as a component of AOCI until such time as the foreign entity is substantially liquidated or sold, or upon the loss of a controlling interest in a foreign entity. Additionally, lower of cost or fair value, less cost to sell, assessments of foreign entities classified as held for sale take into account the related AOCI. The change in fair value of the forward points, which reflects the interest rate differential between the two countries on the derivative, is excluded from the effectiveness assessment. | ||||||||||||||||||
GAINS (LOSSES) RECOGNIZED THROUGH CTA | ||||||||||||||||||
Gain (loss) recognized in CTA | Gain (loss) reclassified from CTA | |||||||||||||||||
for the three months ended March 31 | for the three months ended March 31 | |||||||||||||||||
(In millions) | 2015 | 2014 | 2015 | 2014 | ||||||||||||||
Currency exchange contracts | $ | 4,989 | $ | -1,033 | $ | 785 | $ | 10 | ||||||||||
Reclassifications from CTA of $974 million and $(3) million were recorded in GECC revenues from services and $(189) million and $13 million in discontinued operations in the three months ended March 31, 2015 and 2014, respectively. The amounts related to the change in the fair value of the forward points that are excluded from the measure of effectiveness were $(44) million and $(142) million in the three months ended March 31, 2015 and 2014, respectively, and were recorded in interest and other financial charges. | ||||||||||||||||||
Free-standing derivatives | ||||||||||||||||||
Changes in the fair value of derivatives that are not designated as hedges are recorded in earnings each period. As discussed above, these derivatives are typically entered into as economic hedges of changes in interest rates, currency exchange rates, commodity prices and other risks. Gains or losses related to the derivative are typically recorded in GECC revenues from services or other income, based on our accounting policy. In general, the earnings effects of the item that represent the economic risk exposure are recorded in the same caption as the derivative. Gains (losses) for the three months ended March 31, 2015 on derivatives not designated as hedges were $(3,094) million composed of amounts related to interest rate contracts of $(44) million, currency exchange contracts of $(3,031) million, and other derivatives of $(19) million. These losses were more than offset by the earnings effects from the underlying items that were economically hedged. Gains (losses) for the three months ended March 31, 2014 on derivatives not designated as hedges were $1,097 million composed of amounts related to currency exchange contracts of $1,126 million and other derivatives of $(29) million. These losses were offset by the earnings effects from the underlying items that were economically hedged. | ||||||||||||||||||
Counterparty credit risk | ||||||||||||||||||
Fair values of our derivatives can change significantly from period to period based on, among other factors, market movements and changes in our positions. We manage counterparty credit risk (the risk that counterparties will default and not make payments to us according to the terms of our agreements) on an individual counterparty basis. Where we have agreed to netting of derivative exposures with a counterparty, we net our exposures with that counterparty and apply the value of collateral posted to us to determine the exposure. We actively monitor these net exposures against defined limits and take appropriate actions in response, including requiring additional collateral. | ||||||||||||||||||
As discussed above, we have provisions in certain of our master agreements that require counterparties to post collateral (typically, cash or U.S. Treasury securities) when our receivable due from the counterparty, measured at current market value, exceeds a specified limit. The fair value of such collateral was $5,648 million at March 31, 2015, of which $3,323 million was cash and $2,325 million was in the form of securities held by a custodian for our benefit. Under certain of these same agreements, we post collateral to our counterparties for our derivative obligations, the fair value of which was $493 million at March 31, 2015. At March 31, 2015, our exposure to counterparties (including accrued interest), net of collateral we hold, was $1,389 million. This excludes exposure related to embedded derivatives. | ||||||||||||||||||
Additionally, our master agreements typically contain mutual downgrade provisions that provide the ability of each party to require termination if the long-term credit rating of the counterparty were to fall below A-/A3. In certain of these master agreements, each party also has the ability to require termination if the short-term rating of the counterparty were to fall below A-1/P-1. Our master agreements also typically contain provisions that provide termination rights upon the occurrence of certain other events, such as a bankruptcy or events of default by one of the parties. If an agreement was terminated under any of these circumstances, the termination amount payable would be determined on a net basis and could also take into account any collateral posted. The net amount of our derivative liability, after consideration of collateral posted by us and outstanding interest payments was $1,035 million at March 31, 2015. This excludes embedded derivatives. |
Variable_Interest_Entities
Variable Interest Entities | 3 Months Ended | |||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||
Variable Interest Entities [Abstract] | ||||||||||||||||||
Variable Interest Entities | NOTE 16. VARIABLE INTEREST ENTITIES | |||||||||||||||||
We use variable interest entities primarily to securitize financial assets and arrange other forms of asset-backed financing in the ordinary course of business. 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. We did not provide non-contractual support for previously transferred financing receivables to any VIE in 2015 or 2014. | ||||||||||||||||||
Consolidated Variable Interest Entities | ||||||||||||||||||
We consolidate VIEs because we have the power to direct the activities that significantly affect the VIE’s economic performance, typically because of our role as either servicer or manager for the VIE. Our consolidated VIEs fall into three main groups, which are further described below: | ||||||||||||||||||
Trinity comprises two consolidated entities that hold investment securities, the majority of which are investment-grade, and were funded by the issuance of GICs. The GICs include conditions under which certain holders could require immediate repayment of their investment should the long-term credit ratings of GECC fall below AA-/Aa3 or the short-term credit ratings fall below A-1+/P-1. The outstanding GICs are subject to their scheduled maturities and individual terms, which may include provisions permitting redemption upon a downgrade of one or more of GECC’s ratings, among other things, and are reported in investment contracts, insurance liabilities and insurance annuity benefits. | ||||||||||||||||||
Consolidated Securitization Entities (CSEs) were created to facilitate securitization of financial assets and other forms of asset-backed financing that serve as an alternative funding source by providing access to variable funding notes and term markets. The securitization transactions executed with these entities are similar to those used by many financial institutions and all are non-recourse. We provide servicing for substantially all of the assets in these entities. | ||||||||||||||||||
The financing receivables in these entities have similar risks and characteristics to our other financing receivables and were underwritten to the same standard. Accordingly, the performance of these assets has been similar to our other financing receivables; however, the blended performance of the pools of receivables in these entities reflects the eligibility criteria that we apply to determine which receivables are selected for transfer. Contractually the cash flows from these financing receivables must first be used to pay third-party debt holders as well as other expenses of the entity. Excess cash flows are available to GE. The creditors of these entities have no claim on other assets of GE. | ||||||||||||||||||
Other remaining assets and liabilities of consolidated VIEs relate primarily to three categories of entities: (1) joint ventures that lease equipment with $1,587 million of assets and $679 million of liabilities; (2) other entities that are involved in power generating and leasing activities with $339 million of assets and $207 million of liabilities; and (3) insurance entities that, among other lines of business, provide property and casualty and workers’ compensation coverage for GE with $1,193 million of assets and $547 million of liabilities. | ||||||||||||||||||
ASSETS AND LIABILITIES OF CONSOLIDATED VIEs | ||||||||||||||||||
Consolidated Securitization Entities | ||||||||||||||||||
Trade | ||||||||||||||||||
(In millions) | Trinity(a) | Credit cards | (b) | Equipment | (b) | receivables | Other | Total | ||||||||||
31-Mar-15 | ||||||||||||||||||
Assets(c) | ||||||||||||||||||
Financing receivables, net | $ | - | $ | 23,637 | $ | 13,388 | (e) | $ | - | $ | 2,842 | (e) | $ | 39,867 | ||||
Current receivables | - | - | - | 2,846 | (d) | 477 | 3,323 | |||||||||||
Investment securities | 2,291 | - | - | - | 999 | 3,290 | ||||||||||||
Other assets | 115 | 143 | 795 | 1 | 2,236 | 3,290 | ||||||||||||
Total | $ | 2,406 | $ | 23,780 | $ | 14,183 | $ | 2,847 | $ | 6,554 | $ | 49,770 | ||||||
Liabilities(c) | ||||||||||||||||||
Borrowings | $ | - | $ | - | $ | - | $ | - | $ | 673 | $ | 673 | ||||||
Non-recourse borrowings | - | 13,817 | 10,616 | 2,677 | 451 | 27,561 | ||||||||||||
Other liabilities | 1,020 | 312 | 453 | 29 | 1,567 | 3,381 | ||||||||||||
Total | $ | 1,020 | $ | 14,129 | $ | 11,069 | $ | 2,706 | $ | 2,691 | $ | 31,615 | ||||||
31-Dec-14 | ||||||||||||||||||
Assets(c) | ||||||||||||||||||
Financing receivables, net | $ | - | $ | 25,645 | $ | 12,843 | $ | - | $ | 3,064 | $ | 41,552 | ||||||
Current receivables | - | - | - | 3,028 | (d) | 509 | 3,537 | |||||||||||
Investment securities | 2,369 | - | - | - | 1,005 | 3,374 | ||||||||||||
Other assets | 17 | 1,059 | 766 | 2 | 2,814 | 4,658 | ||||||||||||
Total | $ | 2,386 | $ | 26,704 | $ | 13,609 | $ | 3,030 | $ | 7,392 | $ | 53,121 | ||||||
Liabilities(c) | ||||||||||||||||||
Borrowings | $ | - | $ | - | $ | - | $ | - | $ | 523 | $ | 523 | ||||||
Non-recourse borrowings | - | 14,967 | 10,359 | 2,692 | 646 | 28,664 | ||||||||||||
Other liabilities | 1,022 | 332 | 593 | 26 | 1,548 | 3,521 | ||||||||||||
Total | $ | 1,022 | $ | 15,299 | $ | 10,952 | $ | 2,718 | $ | 2,717 | $ | 32,708 | ||||||
Excluded intercompany advances from GECC to Trinity, which were eliminated in consolidation of $1,565 million and $1,565 million at March 31, 2015 and December 31, 2014, respectively. | ||||||||||||||||||
We provide servicing to the CSEs and are contractually permitted to commingle cash collected from customers on financing receivables sold to CSE investors with our own cash prior to payment to a CSE, provided our short-term credit rating does not fall below A-1/P-1. These CSEs also owe us amounts for purchased financial assets and scheduled interest and principal payments. At March 31, 2015 and December 31, 2014, the amounts of commingled cash owed to the CSEs were $2,702 million and $2,809 million, respectively, and the amounts owed to us by CSEs were $2,735 million and $2,913 million, respectively. | ||||||||||||||||||
Asset amounts exclude intercompany receivables for cash collected on behalf of the entities by GECC as servicer, which are eliminated in consolidation. Such receivables provide the cash to repay the entities’ liabilities. If these intercompany receivables were included in the table above, assets would be higher. In addition, other assets, borrowings and other liabilities exclude intercompany balances that are eliminated in consolidation. | ||||||||||||||||||
Included $659 million and $686 million of receivables at March 31, 2015 and December 31, 2014, respectively, originated by Appliances. We require third party debt holder consent to sell these assets. The receivables will be included in assets of businesses held for sale when the consent is received. | ||||||||||||||||||
Included $15.2 billion of financing receivables at March 31, 2015 classified as financing receivables held for sale in connection with the GE Capital Exit Plan. | ||||||||||||||||||
Total revenues from our consolidated VIEs were $2,003 million and $1,835 million in the three months ended March 31, 2015 and 2014, respectively. Related expenses consisted primarily of provisions for losses of $229 million and $301 million in the three months ended March 31, 2015 and 2014, respectively, and interest and other financial charges of $91 million and $81 million in the three months ended March 31, 2015 and 2014, respectively. These amounts do not include intercompany revenues and costs, principally fees and interest between GE and the VIEs, which are eliminated in consolidation. | ||||||||||||||||||
Investments in Unconsolidated Variable Interest Entities | ||||||||||||||||||
Our involvement with unconsolidated VIEs consists of the following activities: assisting in the formation and financing of the entity; providing recourse and/or liquidity support; servicing the assets; and receiving variable fees for services provided. We are not required to consolidate these entities because the nature of our involvement with the activities of the VIEs does not give us power over decisions that significantly affect their economic performance. | ||||||||||||||||||
Our largest exposure to any single unconsolidated VIE at March 31, 2015 is a $8,377 million investment in asset-backed securities issued by the Senior Secured Loan Program (SSLP), a fund that invests in high-quality senior secured debt of various middle-market companies. SSLP is included within a business held for sale in connection with the GE Capital Exit Plan. Other significant unconsolidated VIEs include exposures to joint ventures that purchase factored receivables ($1,848 million). | ||||||||||||||||||
The classification of our variable interests in these entities in our financial statements is based on the nature of the entity and the type of investment we hold. Variable interests in partnerships and corporate entities are classified as either equity method or cost method investments. In the ordinary course of business, we also make investments in entities in which we are not the primary beneficiary but may hold a variable interest such as limited partner interests or mezzanine debt investments. These investments are classified in two captions in our financial statements: “All other assets” for investments accounted for under the equity method, and “Financing receivables – net” for debt financing provided to these entities. | ||||||||||||||||||
INVESTMENTS IN UNCONSOLIDATED VIEs | ||||||||||||||||||
(In millions) | 31-Mar-15 | 31-Dec-14 | ||||||||||||||||
Other assets and investment securities | 827 | $ | 8,805 | |||||||||||||||
Financing receivables – net | 464 | 2,090 | ||||||||||||||||
Total investments | 1,291 | 10,895 | ||||||||||||||||
Contractual obligations to fund investments or guarantees | 1,862 | 2,201 | ||||||||||||||||
Revolving lines of credit | 108 | 168 | ||||||||||||||||
Total | $ | 3,261 | $ | 13,264 | ||||||||||||||
Investment of businesses held for sale(a) | 9,371 | - | ||||||||||||||||
Total | $ | 12,632 | $ | 13,264 | ||||||||||||||
(a) We committed to sell certain businesses in connection with the GE Capital Exit Plan and reclassified amounts to assets of businesses held for sale. The balance at March 31, 2015 primarily relates to our $8,377 million investment in asset-backed securities issued by SSLP which was included in Financing receivables – net and Other assets and investment securities for the period ended December 31, 2014. | ||||||||||||||||||
(a) We committed to sell certain businesses in connection with the GE Capital Exit Plan and reclassified amounts to assets of businesses held for sale. The balance at March 31, 2015 primarily relates to our $8,377 million investment in asset-backed securities issued by SSLP which was included in Financing receivables – net and Other assets and investment securities for the period ended December 31, 2014. | ||||||||||||||||||
In addition to the entities included in the table above, we also hold passive investments in RMBS, CMBS and asset-backed securities issued by VIEs. Such investments were, by design, investment-grade at issuance and held by a diverse group of investors. Further information about such investments is provided in Note 3. |
Intercompany_Transactions
Intercompany Transactions | 3 Months Ended | |||||
Mar. 31, 2015 | ||||||
Intercompany Transactions [Abstract] | ||||||
Intercompany Transactions | NOTE 17. INTERCOMPANY TRANSACTIONS | |||||
Transactions between related companies are made on an arms-length basis, are eliminated and consist primarily of GECC dividends to GE; GE customer receivables sold to GECC; GECC services for trade receivables management and material procurement; buildings and equipment (including automobiles) leased between GE and GECC; information technology (IT) and other services sold to GECC by GE; aircraft engines manufactured by GE that are installed on aircraft purchased by GECC 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 GECC 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 are $1,192 million, $(1,825) million and $633 million in the three months ended March 31, 2015, and $56 million, $(1,730) million and $1,674 million in the three months ended March 31, 2014, respectively. Details of these eliminations are shown below. | ||||||
Three months ended March 31 | ||||||
(In millions) | 2015 | 2014 | ||||
Cash from (used for) operating activities-continuing operations | ||||||
Combined | $ | 3,814 | $ | 4,553 | ||
GE customer receivables sold to GECC | 1,308 | 731 | ||||
GECC dividends to GE | -450 | -500 | ||||
Other reclassifications and eliminations | 334 | -175 | ||||
$ | 5,006 | $ | 4,609 | |||
Cash from (used for) investing activities-continuing operations | ||||||
Combined | $ | 6,545 | $ | 3,769 | ||
GE customer receivables sold to GECC | -1,274 | -1,185 | ||||
Other reclassifications and eliminations | -551 | -545 | ||||
$ | 4,720 | $ | 2,039 | |||
Cash from (used for) financing activities-continuing operations | ||||||
Combined | $ | -8,615 | $ | -10,072 | ||
GE customer receivables sold to GECC | -34 | 454 | ||||
GECC dividends to GE | 450 | 500 | ||||
Other reclassifications and eliminations | 217 | 720 | ||||
$ | -7,982 | $ | -8,398 | |||
Supplemental_Information_About
Supplemental Information About The Credit Quality Of Financing Receivables And Allowance For Losses | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Credit Quality Financing Receivables [Abstract] | |||||||||||||||||||||
Supplemental Information About Credit Quality Of Financing Receivables And Allowance For Losses On Financing Receivables | NOTE 18. SUPPLEMENTAL INFORMATION ABOUT THE CREDIT QUALITY OF FINANCING RECEIVABLES AND ALLOWANCE FOR LOSSES | ||||||||||||||||||||
As described in Note 4, our CLL and Consumer portfolios have been significantly reduced as most of these portfolios have been reclassified to either financing receivables held for sale or assets of businesses held for sale. In addition our Real Estate business has been classified as a discontinued operation. | |||||||||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||
Detailed information about the credit quality of our Commercial and Consumer financing receivables portfolios is provided below. For each portfolio, we describe the characteristics of the financing receivables and provide information about collateral, payment performance, credit quality indicators and impairment. We manage these portfolios using delinquency and nonaccrual data as key performance indicators. The categories used within this section such as impaired loans, troubled debt restructuring (TDR) and nonaccrual financing receivables are defined by the authoritative guidance and we base our categorization on the related scope and definitions contained in the related standards. The categories of nonaccrual and delinquent are used in our process for managing our financing receivables. | |||||||||||||||||||||
PAST DUE AND NONACCRUAL FINANCING RECEIVABLES | |||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | ||||||||||||||||||||
Over 30 days | Over 90 days | Over 30 days | Over 90 days | ||||||||||||||||||
(In millions) | past due | past due | Nonaccrual | past due | past due | Nonaccrual | |||||||||||||||
Commercial | |||||||||||||||||||||
CLL | $ | 636 | $ | 137 | $ | 25 | $ | 1,986 | $ | 1,033 | $ | 2,000 | |||||||||
Energy Financial Services | 10 | - | 63 | - | - | 68 | |||||||||||||||
GECAS | - | - | 255 | - | - | 419 | |||||||||||||||
Total Commercial | 646 | 137 | 343 | (a) | 1,986 | 1,033 | 2,487 | (a) | |||||||||||||
Consumer | 2,209 | 1,056 | (b) | 2 | (c) | 5,137 | 2,495 | (b) | 1,484 | (c) | |||||||||||
Total | $ | 2,855 | $ | 1,193 | $ | 345 | $ | 7,123 | $ | 3,528 | $ | 3,971 | |||||||||
Total as a percent of financing receivables | 3.5 | % | 1.5 | % | 0.4 | % | 3.2 | % | 1.6 | % | 1.8 | % | |||||||||
(a) Included $321 million and $1,549 million at March 31, 2015 and December 31, 2014, respectively, which are currently paying in accordance with their contractual terms. | |||||||||||||||||||||
(b) Included $1,054 million and $1,231 million of Consumer loans at March 31, 2015 and December 31, 2014, respectively, which are over 90 days past due and continue to accrue interest until the accounts are written off in the period that the account becomes 180 days past due. | |||||||||||||||||||||
(c) Included none and $179 million at March 31, 2015 and December 31, 2014, respectively, which are currently paying in accordance with their contractual terms. | |||||||||||||||||||||
IMPAIRED LOANS AND RELATED RESERVES | |||||||||||||||||||||
With no specific allowance | With a specific allowance | ||||||||||||||||||||
Recorded | Unpaid | Average | Recorded | Unpaid | Average | ||||||||||||||||
investment | principal | investment | investment | principal | Associated | investment | |||||||||||||||
(In millions) | in loans | balance | in loans | in loans | balance | allowance(a) | in loans | ||||||||||||||
31-Mar-15 | |||||||||||||||||||||
Commercial | |||||||||||||||||||||
CLL | $ | 8 | $ | 8 | $ | 1,150 | $ | 6 | $ | 6 | $ | 5 | $ | 206 | |||||||
Energy Financial Services | 54 | 55 | 53 | 9 | 9 | - | 12 | ||||||||||||||
GECAS | 170 | 175 | 250 | - | - | - | - | ||||||||||||||
Other | - | - | - | - | - | - | - | ||||||||||||||
Total Commercial(b) | 232 | 238 | 1,453 | 15 | 15 | 5 | 218 | ||||||||||||||
Consumer(c) | - | - | 69 | 726 | 625 | (d) | 244 | 1,383 | |||||||||||||
Total | $ | 232 | $ | 238 | $ | 1,522 | $ | 741 | $ | 640 | $ | 249 | $ | 1,601 | |||||||
31-Dec-14 | |||||||||||||||||||||
Commercial | |||||||||||||||||||||
CLL | $ | 2,292 | $ | 4,397 | $ | 2,725 | $ | 406 | $ | 1,125 | $ | 133 | $ | 717 | |||||||
Energy Financial Services | 53 | 54 | 26 | 15 | 15 | 12 | 24 | ||||||||||||||
GECAS | 329 | 337 | 88 | - | - | - | 15 | ||||||||||||||
Other | - | - | - | - | - | - | 1 | ||||||||||||||
Total Commercial(b) | 2,674 | 4,788 | 2,839 | 421 | 1,140 | 145 | 757 | ||||||||||||||
Consumer(c) | 138 | 179 | 120 | 2,042 | 2,092 | 408 | 2,547 | ||||||||||||||
Total | $ | 2,812 | $ | 4,967 | $ | 2,959 | $ | 2,463 | $ | 3,232 | $ | 553 | $ | 3,304 | |||||||
(a) Write-offs to net realizable value are recognized against the allowance for losses primarily in the reporting period in which management has deemed all or a portion of the financing receivable to be uncollectible, but not later than 360 days after initial recognition of a specific reserve for a collateral dependent loan. | |||||||||||||||||||||
(b) We recognized $6 million, $178 million and $57 million of interest income, including none on a cash basis, in the three months ended March 31, 2015, the year ended December 31, 2014 and the three months ended March 31, 2014, respectively, principally in CLL. The total average investment in impaired loans for the three months ended March 31, 2015 and the year ended December 31, 2014 was $1,671 million and $3,596 million, respectively. | |||||||||||||||||||||
(c) We recognized $23 million, $126 million and $46 million of interest income, including $1 million, $5 million and an insignificant amount on a cash basis, in the three months ended March 31, 2015, the year ended December 31, 2014 and the three months ended March 31, 2014, respectively. The total average investment in impaired loans for the three months ended March 31, 2015 and the year ended December 31, 2014 was $1,452 million and $2,667 million, respectively. | |||||||||||||||||||||
(d) Unpaid principal balance excludes accrued interest and fees. | |||||||||||||||||||||
(In millions) | Non-impaired financing receivables | General reserves | Impaired loans | Specific reserves | |||||||||||||||||
31-Mar-15 | |||||||||||||||||||||
Commercial | $ | 22,918 | $ | 89 | $ | 247 | $ | 5 | |||||||||||||
Consumer | 57,522 | 3,011 | 726 | 244 | |||||||||||||||||
Total | $ | 80,440 | $ | 3,100 | $ | 973 | $ | 249 | |||||||||||||
31-Dec-14 | |||||||||||||||||||||
Commercial | $ | 118,381 | $ | 758 | $ | 3,095 | $ | 145 | |||||||||||||
Consumer | 98,640 | 3,603 | 2,180 | 408 | |||||||||||||||||
Total | $ | 217,021 | $ | 4,361 | $ | 5,275 | $ | 553 | |||||||||||||
IMPAIRED LOAN BALANCE CLASSIFIED BY THE METHOD USED TO MEASURE IMPAIRMENT | |||||||||||||||||||||
(In millions) | 31-Mar-15 | 31-Dec-14 | |||||||||||||||||||
Discounted cash flow | $ | 834 | $ | 3,915 | |||||||||||||||||
Collateral value | 139 | 1,360 | |||||||||||||||||||
Total | $ | 973 | $ | 5,275 | |||||||||||||||||
Our loss mitigation strategy is intended to minimize economic loss and, at times, can result in rate reductions, principal forgiveness, extensions, forbearance or other actions, which may cause the related loan to be classified as a troubled debt restructuring (TDR), and also as impaired. The determination of whether these changes to the terms and conditions of our commercial loans meet the TDR criteria includes our consideration of all relevant facts and circumstances. At March 31, 2015, TDRs included in impaired loans were $810 million, primarily relating to Consumer ($726 million) and GECAS ($82 million). | |||||||||||||||||||||
Impaired loans classified as TDRs in our CLL business were $2 million and $1,869 million at March 31, 2015 and December 31, 2014, respectively. For the three months ended March 31, 2015, we modified $2 million of loans classified as TDRs. Changes to these loans primarily included extensions, interest only payment periods, debt to equity exchange and forbearance or other actions, which are in addition to, or sometimes in lieu of, fees and rate increases. Of our $633 million and $1,391 million of modifications classified as TDRs in the twelve months ended March 31, 2015 and 2014, respectively, none and $19 million have subsequently experienced a payment default in the three months ended March 31, 2015 and 2014, respectively. | |||||||||||||||||||||
Impaired loans in our Consumer business represent restructured smaller balance homogeneous loans meeting the definition of a TDR, and are therefore subject to the disclosure requirement for impaired loans. The recorded investment of these impaired loans totaled $726 million (with an unpaid principal balance of $625 million) with a specific allowance of $244 million at March 31, 2015. | |||||||||||||||||||||
Impaired loans classified as TDRs in our Consumer business were $726 million and $2,132 million at March 31, 2015 and December 31, 2014, respectively. We utilize certain loan modification programs for borrowers experiencing financial difficulties in our Consumer loan portfolio. These loan modification programs primarily include interest rate reductions and payment deferrals in excess of three months, which were not part of the terms of the original contract. For the three months ended March 31, 2015, we modified $120 million of U.S. consumer loans, primarily credit cards for borrowers experiencing financial difficulties, which are classified as TDRs. We expect borrowers whose loans have been modified under these programs to continue to be able to meet their contractual obligations upon the conclusion of the modification. Of our $869 million and $1,339 million of modifications classified as TDRs in the twelve months ended March 31, 2015 and 2014, respectively, $23 million and $57 million have subsequently experienced a payment default in the three months ended March 31, 2015 and 2014, respectively. | |||||||||||||||||||||
Supplemental Credit Quality Information | |||||||||||||||||||||
Commercial | |||||||||||||||||||||
Substantially all of our Commercial financing receivables portfolio is secured lending and we assess the overall quality of the portfolio based on the potential risk of loss measure. The metric incorporates both the borrower’s credit quality along with any related collateral protection. | |||||||||||||||||||||
Our internal risk ratings process is an important source of information in determining our allowance for losses and represents a comprehensive approach to evaluate risk in our financing receivables portfolios. In deriving our internal risk ratings, we stratify our Commercial portfolios into 21 categories of default risk and/or six categories of loss given default to group into three categories: A, B and C. Our process starts by developing an internal risk rating for our borrowers, which is based upon our proprietary models using data derived from borrower financial statements, agency ratings, payment history information, equity prices and other commercial borrower characteristics. We then evaluate the potential risk of loss for the specific lending transaction in the event of borrower default, which takes into account such factors as applicable collateral value, historical loss and recovery rates for similar transactions, and our collection capabilities. Our internal risk ratings process and the models we use are subject to regular monitoring and internal controls. The frequency of rating updates is set by our credit risk policy, which requires annual Risk Committee approval. | |||||||||||||||||||||
As described above, financing receivables are assigned one of 21 risk ratings based on our process and then these are grouped by similar characteristics into three categories in the table below. Category A is characterized by either high-credit-quality borrowers or transactions with significant collateral coverage that substantially reduces or eliminates the risk of loss in the event of borrower default. Category B is characterized by borrowers with weaker credit quality than those in Category A, or transactions with moderately strong collateral coverage that minimizes but may not fully mitigate the risk of loss in the event of default. Category C is characterized by borrowers with higher levels of default risk relative to our overall portfolio or transactions where collateral coverage may not fully mitigate a loss in the event of default. | |||||||||||||||||||||
COMMERCIAL FINANCING RECEIVABLES BY RISK CATEGORY | |||||||||||||||||||||
Secured | |||||||||||||||||||||
(In millions) | A | B | C | Total | |||||||||||||||||
31-Mar-15 | |||||||||||||||||||||
CLL | $ | 12,131 | $ | 28 | $ | 42 | $ | 12,201 | |||||||||||||
Energy Financial Services | 2,378 | 171 | - | 2,549 | |||||||||||||||||
GECAS | 7,488 | 229 | 100 | 7,817 | |||||||||||||||||
Other | 127 | - | - | 127 | |||||||||||||||||
Total | $ | 22,124 | $ | 428 | $ | 142 | $ | 22,694 | |||||||||||||
31-Dec-14 | |||||||||||||||||||||
CLL | $ | 105,230 | $ | 2,023 | $ | 2,334 | $ | 109,587 | |||||||||||||
Energy Financial Services | 2,479 | 60 | 16 | 2,555 | |||||||||||||||||
GECAS | 7,908 | 237 | 118 | 8,263 | |||||||||||||||||
Other | 130 | - | - | 130 | |||||||||||||||||
Total | $ | 115,747 | $ | 2,320 | $ | 2,468 | $ | 120,535 | |||||||||||||
For our secured financing receivables portfolio, our collateral position and ability to work out problem accounts mitigate our losses. Our asset managers have deep industry expertise that enables us to identify the optimum approach to default situations. We price risk premiums for weaker credits at origination, closely monitor changes in creditworthiness through our risk ratings and watch list process, and are engaged early with deteriorating credits to minimize economic loss. Secured financing receivables within risk Category C are primarily composed of senior term lending facilities and factoring programs secured by various asset types including inventory, accounts receivable, cash, equipment, aircraft and related business facilities as well as franchise finance activities secured by underlying equipment. | |||||||||||||||||||||
Loans within Category C are reviewed and monitored regularly, and classified as impaired when it is probable that they will not pay in accordance with contractual terms. Our internal risk rating process identifies credits warranting closer monitoring; and as such, these loans are not necessarily classified as nonaccrual or impaired. | |||||||||||||||||||||
At March 31, 2015 and December 31, 2014, our unsecured commercial financing receivables included $181 million and $332 million rated A, $290 million and $408 million rated B, and none and $201 million rated C, respectively. | |||||||||||||||||||||
Consumer | |||||||||||||||||||||
At March 31, 2015, our U.S. consumer financing receivables included private-label credit card and sales financing for approximately 60 million customers across the U.S. with no metropolitan area accounting for more than 6% of the portfolio. Of the total U.S. consumer financing receivables, approximately 66% relate to credit card loans that are often subject to profit and loss sharing arrangements with the retailer (which are recorded in revenues), and the remaining 34% are sales finance receivables that provide financing to customers in areas such as electronics, recreation, medical and home improvement. | |||||||||||||||||||||
Our Consumer financing receivables portfolio comprises both secured and unsecured lending. Secured financing receivables are largely comprised of consumer installment loans secured by equipment. Unsecured financing receivables include private-label credit card financing. A substantial majority of these cards are not for general use and are limited to the products and services sold by the retailer. The private-label portfolio is diverse with no metropolitan area accounting for more than 5% of the related portfolio. | |||||||||||||||||||||
We assess overall credit quality of our U.S. installment and revolving credit portfolio using information from credit bureaus such as Fair Isaac Corporation (FICO) scores. FICO scores are generally obtained at origination of the account and are refreshed at a minimum quarterly, but could be as often as weekly, to assist in predicting customer behavior. We categorize these credit scores into the following three categories; (a) 661 or higher, which are considered the strongest credits; (b) 601 to 660, which are considered moderate credit risk; and (c) 600 or less, which are considered weaker credits. | |||||||||||||||||||||
Refreshed FICO score | |||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | ||||||||||||||||||||
661 or | 601 to | 600 or | 661 or | 601 to | 600 or | ||||||||||||||||
(in millions) | higher | 660 | less | higher | 660 | less | |||||||||||||||
U.S. installment and | |||||||||||||||||||||
revolving credit | $ | 40,761 | $ | 11,681 | $ | 4,486 | $ | 43,466 | $ | 11,865 | $ | 4,532 | |||||||||
U.S. installment and revolving credit accounts with FICO scores of 600 or less have an average outstanding balance less than one thousand U.S. dollars and are primarily concentrated in our retail card and sales financing portfolios, which minimizes the potential for loss in the event of default. For lower credit scores, we adequately price for the incremental risk at origination and monitor credit migration through our risk ratings process. We continuously adjust our credit line underwriting management and collection strategies based on customer behavior and risk profile changes. | |||||||||||||||||||||
For our Consumer - Other portfolio, we develop our internal risk ratings for this portfolio in a manner consistent with the process used to develop our Commercial credit quality indicators, described above. We use the borrower’s credit quality and underlying collateral strength to determine the potential risk of loss from these activities. | |||||||||||||||||||||
At March 31, 2015, Consumer – Other financing receivables of $1,038 million, $114 million and $168 million were rated A, B and C, respectively. At December 31, 2014, Consumer – Other financing receivables of $5,006 million, $276 million and $382 million were rated A, B and C, respectively. |
Operating_Segments
Operating Segments | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Operating segment abstract | |||||||||
Operating Segments | SUMMARY OF OPERATING SEGMENTS | ||||||||
Three months ended March 31 | |||||||||
(In millions) | 2015 | 2014 | V% | ||||||
Revenues | |||||||||
Power & Water | $ | 5,716 | $ | 5,509 | 4% | ||||
Oil & Gas | 3,961 | 4,308 | -8% | ||||||
Energy Management | 1,685 | 1,672 | 1% | ||||||
Aviation | 5,674 | 5,778 | -2% | ||||||
Healthcare | 4,075 | 4,198 | -3% | ||||||
Transportation | 1,308 | 1,227 | 7% | ||||||
Appliances & Lighting | 1,941 | 1,857 | 5% | ||||||
Total industrial segment revenues | 24,360 | 24,549 | -1% | ||||||
GE Capital | 5,982 | 9,885 | -39% | ||||||
Total segment revenues | 30,342 | 34,434 | -12% | ||||||
Corporate items and eliminations | -986 | -886 | -11% | ||||||
Consolidated revenues | $ | 29,356 | $ | 33,548 | -12% | ||||
Segment profit (loss) | |||||||||
Power & Water | $ | 871 | $ | 888 | -2% | ||||
Oil & Gas | 432 | 446 | -3% | ||||||
Energy Management | 28 | 5 | F | ||||||
Aviation | 1,314 | 1,115 | 18% | ||||||
Healthcare | 587 | 570 | 3% | ||||||
Transportation | 225 | 202 | 11% | ||||||
Appliances & Lighting | 103 | 53 | 94% | ||||||
Total industrial segment profit | 3,560 | 3,279 | 9% | ||||||
GE Capital | -12,544 | 1,693 | U | ||||||
Total segment profit (loss) | -8,984 | 4,972 | U | ||||||
Corporate items and eliminations | -1,692 | -1,542 | -10% | ||||||
GE interest and other financial charges | -389 | -365 | -7% | ||||||
GE provision for income taxes | -306 | -318 | 4% | ||||||
Earnings (loss) from continuing operations | |||||||||
attributable to the Company | -11,371 | 2,747 | U | ||||||
Earnings (loss) from discontinued | |||||||||
operations, net of taxes | -2,202 | 252 | U | ||||||
Consolidated net earnings (loss) | |||||||||
attributable to the Company | $ | -13,573 | $ | 2,999 | U | ||||
\ |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policy) | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
Business Held for Sale Policy | summary of significant accounting policies |
We utilized significant estimates in the preparation of the first quarter financial statements. | |
In addition to the discussion below on estimates used to determine the fair value of businesses and assets held for sale, please refer to the Critical Accounting Estimates section within MD&A and Note 1, Basis of Presentation and Summary of Significant Accounting Policies, to the consolidated financial statements of our 2014 Form 10-K Report for a summary of our significant accounting policies and the critical accounting estimates we use to: assess the recoverability of assets such as financing receivables and goodwill; determine the fair value of financial assets; and determine our provision for income taxes and recoverability of deferred tax assets. | |
BUSINESSES AND ASSETS HELD FOR SALE | |
Businesses held for sale represent components that meet accounting requirements to be classified as held for sale and are presented as single asset and liability amounts in our financial statements with a valuation allowance, if necessary, to recognize the net carrying amount at the lower of cost or fair value, less cost to sell. Financing receivables that no longer qualify to be presented as held for investment must be classified as held for sale and recognized in our financial statements at the lower of cost or fair value, less cost to sell, with that amount representing a new cost basis at the date of transfer. | |
As a result of the GE Capital Exit Plan, certain GECC businesses met the criteria to be classified as businesses held for sale and certain financing receivables were required to be recognized as held for sale at March 31, 2015. | |
The determination of fair value for businesses and portfolios of financing receivables involves significant judgments and assumptions. Development of estimates of fair values in this circumstance is complex and is dependent upon, among other factors, the nature of the potential sales transaction (for example, asset sale versus sale of legal entity), composition of assets and/or businesses in the disposal group, the comparability of the disposal group to market transactions, negotiations with third party purchasers etc. Such factors bear directly on the range of potential fair values and the selection of the best estimates. Key assumptions were developed based on market observable data and, in the absence of such data, internal information that is consistent with what market participants would use in a hypothetical transaction as of March 31, 2015. | |
We will review all businesses and assets held for sale each reporting period to determine whether the existing carrying amounts are fully recoverable in comparison to estimated fair values. |
Operating_Segments_Tables
Operating Segments (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Operating segment abstract | |||||||||
Reconciliation Of Operating Profit Loss From Segments To ConsolidatedTableTextBlock | SUMMARY OF OPERATING SEGMENTS | ||||||||
Three months ended March 31 | |||||||||
(In millions) | 2015 | 2014 | V% | ||||||
Revenues | |||||||||
Power & Water | $ | 5,716 | $ | 5,509 | 4% | ||||
Oil & Gas | 3,961 | 4,308 | -8% | ||||||
Energy Management | 1,685 | 1,672 | 1% | ||||||
Aviation | 5,674 | 5,778 | -2% | ||||||
Healthcare | 4,075 | 4,198 | -3% | ||||||
Transportation | 1,308 | 1,227 | 7% | ||||||
Appliances & Lighting | 1,941 | 1,857 | 5% | ||||||
Total industrial segment revenues | 24,360 | 24,549 | -1% | ||||||
GE Capital | 5,982 | 9,885 | -39% | ||||||
Total segment revenues | 30,342 | 34,434 | -12% | ||||||
Corporate items and eliminations | -986 | -886 | -11% | ||||||
Consolidated revenues | $ | 29,356 | $ | 33,548 | -12% | ||||
Segment profit (loss) | |||||||||
Power & Water | $ | 871 | $ | 888 | -2% | ||||
Oil & Gas | 432 | 446 | -3% | ||||||
Energy Management | 28 | 5 | F | ||||||
Aviation | 1,314 | 1,115 | 18% | ||||||
Healthcare | 587 | 570 | 3% | ||||||
Transportation | 225 | 202 | 11% | ||||||
Appliances & Lighting | 103 | 53 | 94% | ||||||
Total industrial segment profit | 3,560 | 3,279 | 9% | ||||||
GE Capital | -12,544 | 1,693 | U | ||||||
Total segment profit (loss) | -8,984 | 4,972 | U | ||||||
Corporate items and eliminations | -1,692 | -1,542 | -10% | ||||||
GE interest and other financial charges | -389 | -365 | -7% | ||||||
GE provision for income taxes | -306 | -318 | 4% | ||||||
Earnings (loss) from continuing operations | |||||||||
attributable to the Company | -11,371 | 2,747 | U | ||||||
Earnings (loss) from discontinued | |||||||||
operations, net of taxes | -2,202 | 252 | U | ||||||
Consolidated net earnings (loss) | |||||||||
attributable to the Company | $ | -13,573 | $ | 2,999 | U | ||||
\ |
Businesses_Held_For_Sale_Finan1
Businesses Held For Sale, Financing Receivables Held for Sale and Discontinued Operations (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Financial Information For Businesses Held For Sale [Line Items] | |||||||||
Rollfoward of WMC's reserve and pending claims for WMC representation and warranty obligations | ROLLFORWARD OF THE RESERVE | ||||||||
Three months ended March 31 | |||||||||
(In millions) | 2015 | 2014 | |||||||
Balance, beginning of period | $ | 809 | $ | 800 | |||||
Provision | 7 | - | |||||||
Claim resolutions / rescissions | -2 | -250 | |||||||
Balance, end of period | $ | 814 | $ | 550 | |||||
Financial Information for Discontinued Operations | FINANCIAL INFORMATION FOR DISCONTINUED OPERATIONS | ||||||||
Three months ended March 31 | |||||||||
(In millions) | 2015 | 2014 | |||||||
Operations | |||||||||
Total revenues and other income (loss) | $ | 499 | $ | 660 | |||||
Earnings (loss) from discontinued operations before income taxes | $ | 30 | $ | 123 | |||||
Benefit (provision) for income taxes | 122 | 110 | |||||||
Earnings (loss) from discontinued operations, net of taxes | $ | 152 | $ | 233 | |||||
Disposal | |||||||||
Gain (loss) on disposal before income taxes | $ | -1,808 | $ | 18 | |||||
Benefit (provision) for income taxes | -546 | 1 | |||||||
Gain (loss) on disposal, net of taxes | $ | -2,354 | $ | 19 | |||||
Earnings (loss) from discontinued operations, net of taxes(a) | $ | -2,202 | $ | 252 | |||||
(a) The sum of GE industrial earnings (loss) from discontinued operations, net of taxes, and GECC earnings (loss) from discontinued operations, net of taxes, is reported as GE industrial earnings (loss) from discontinued operations, net of taxes, on the Consolidated Statement of Earnings (Loss). | |||||||||
(In millions) | 31-Mar-15 | 31-Dec-14 | |||||||
Assets | |||||||||
Cash and equivalents | $ | 259 | $ | 320 | |||||
Investment securities | 799 | 848 | |||||||
Financing receivables – net | 19,348 | 19,636 | |||||||
Other receivables | 420 | 422 | |||||||
Property, plant and equipment – net | 137 | 141 | |||||||
Goodwill | 440 | 537 | |||||||
Other intangible assets – net | 93 | 109 | |||||||
Deferred income taxes | 1,425 | 1,755 | |||||||
Other | 10,148 | 13,027 | |||||||
Valuation allowance on disposal group classified as discontinued operations | -1,808 | - | |||||||
Assets of discontinued operations | $ | 31,261 | $ | 36,795 | |||||
Liabilities | |||||||||
Short-term borrowings | $ | 20 | $ | 273 | |||||
Accounts payable | 465 | 549 | |||||||
Other current liabilities | 111 | 28 | |||||||
Long-term borrowings | 188 | 234 | |||||||
Deferred income taxes | 183 | 237 | |||||||
Other | 1,106 | 955 | |||||||
Liabilities of discontinued operations | $ | 2,073 | $ | 2,276 | |||||
Businesses held for sale | FINANCIAL INFORMATION FOR ASSETS AND LIABILITIES OF BUSINESSES HELD FOR SALE | ||||||||
(In millions) | 31-Mar-15 | 31-Dec-14 | |||||||
Assets | |||||||||
Cash and equivalents | $ | 1,560 | $ | 676 | |||||
Investment securities | 7,720 | 448 | |||||||
Current receivables(a) | 178 | 180 | |||||||
Inventories | 703 | 588 | |||||||
Financing receivables – net | 31,318 | 2,144 | |||||||
Property, plant, and equipment – net | 8,149 | 1,015 | |||||||
Goodwill | 5,406 | 539 | |||||||
Other intangible assets – net | 310 | 170 | |||||||
Other | 3,050 | 540 | |||||||
Valuation allowance on disposal group classified as held for sale | -1,845 | - | |||||||
Assets of businesses held for sale | $ | 56,549 | $ | 6,300 | |||||
Liabilities | |||||||||
Short-term borrowings | $ | 840 | 441 | ||||||
Accounts payable(a) | 1,378 | 510 | |||||||
Other current liabilities | 1,233 | 348 | |||||||
Bank deposits | 1,711 | 1,931 | |||||||
Long-term borrowings | 230 | - | |||||||
Deferred income taxes | 255 | -33 | |||||||
Other | 1,721 | 178 | |||||||
Liabilities of businesses held for sale | $ | 7,368 | $ | 3,375 | |||||
(a) Certain transactions at our Appliances and Signaling businesses are made on an arms-length basis with GECC, consisting primarily of GE customer receivables sold to GECC and GECC services for material procurement. These intercompany balances included within our held for sale businesses are reported in the GE and GECC columns of our financial statements, but are eliminated in deriving our consolidated financial statements. | |||||||||
Assets held for sale | |||||||||
Financial Information For Businesses Held For Sale [Line Items] | |||||||||
Businesses held for sale | FINANCING RECEIVABLES HELD FOR SALE | ||||||||
(in millions) | 31-Mar-15 | 31-Dec-14 | |||||||
Commercial | |||||||||
CLL | $ | 65,974 | $ | 1,409 | |||||
Energy Financial Services | - | 35 | |||||||
GE Capital Aviation Services (GECAS) | 259 | 27 | |||||||
Total Commercial | 66,233 | (a) | 1,471 | ||||||
Consumer | 26,726 | (b) | 359 | ||||||
Total financing receivables held for sale | $ | 92,959 | $ | 1,830 | |||||
Over 30 days past due and nonaccrual financing receivables related to commercial financing receivables held for sale were $993 million and $1,401 million respectively. | |||||||||
Over 30 days past due and nonaccrual financing receivables related to consumer financing receivables held for sale were $1,757 million and $1,109 million, respectively. | |||||||||
WMC Discontinued Operations [Member] | |||||||||
Financial Information For Businesses Held For Sale [Line Items] | |||||||||
Financial Information | FINANCIAL INFORMATION FOR WMC | ||||||||
Three months ended March 31 | |||||||||
(In millions) | 2015 | 2014 | |||||||
Total revenues and other income (loss) | $ | - | $ | 4 | |||||
Earnings (loss) from discontinued operations, net of taxes | $ | -6 | $ | -2 | |||||
Real Estate [Member] | |||||||||
Financial Information For Businesses Held For Sale [Line Items] | |||||||||
Financial Information for Discontinued Operations | FINANCIAL INFORMATION FOR REAL ESTATE | ||||||||
Three months ended March 31 | |||||||||
(In millions) | 2015 | 2014 | |||||||
Operations | |||||||||
Total revenues and other income (loss) | $ | 499 | $ | 630 | |||||
Interest | $ | -237 | $ | -273 | |||||
Operating and administrative | -164 | -149 | |||||||
Depreciation and amortization | -60 | -86 | |||||||
Provision for losses on financing receivables | 4 | 15 | |||||||
Earnings (loss) from discontinued operations, before income taxes | 42 | 137 | |||||||
Benefit (provision) for income taxes | 30 | 103 | |||||||
Earnings (loss) from discontinued operations, net of taxes | $ | 72 | $ | 240 | |||||
Disposal | |||||||||
Gain (loss) on disposal before income taxes | $ | -1,808 | $ | - | |||||
Benefit (provision) for income taxes | -546 | - | |||||||
Gain (loss) on disposal, net of taxes | $ | -2,354 | $ | - | |||||
Earnings (loss) from discontinued operations, net of taxes(a) | $ | -2,282 | $ | 240 | |||||
(a) Earnings (loss) from discontinued operations attributable to the Company, before income taxes, was $(1,765) million and $138 million for the three months ended March 31, 2015 and 2014, respectively. |
Investment_Securities_Tables
Investment Securities (Tables) | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ||||||||||||||||||||||||
Investments | 31-Mar-15 | 31-Dec-14 | ||||||||||||||||||||||
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 | $ | 14 | $ | - | $ | - | $ | 14 | $ | 12 | $ | - | $ | - | $ | 12 | ||||||||
Corporate – non-U.S. | 1 | - | - | 1 | 1 | - | - | 1 | ||||||||||||||||
Equity | ||||||||||||||||||||||||
Available-for-sale | 77 | 55 | -4 | 128 | 69 | 4 | -2 | 71 | ||||||||||||||||
Trading | - | - | - | - | - | - | - | - | ||||||||||||||||
92 | 55 | -4 | 143 | 82 | 4 | -2 | 84 | |||||||||||||||||
GECC | ||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||
U.S. corporate | 20,015 | 4,322 | -52 | 24,285 | 19,889 | 3,967 | -69 | 23,787 | ||||||||||||||||
State and municipal | 4,967 | 667 | -50 | 5,584 | 5,181 | 624 | -56 | 5,749 | ||||||||||||||||
Residential mortgage-backed(a) | 1,129 | 100 | -4 | 1,225 | 1,578 | 153 | -6 | 1,725 | ||||||||||||||||
Commercial mortgage-backed | 2,421 | 181 | -5 | 2,597 | 2,903 | 170 | -10 | 3,063 | ||||||||||||||||
Asset-backed | 301 | 11 | -17 | 295 | 8,084 | 9 | -175 | 7,918 | ||||||||||||||||
Corporate – non-U.S. | 914 | 137 | -1 | 1,050 | 1,021 | 115 | -1 | 1,135 | ||||||||||||||||
Government – non-U.S. | 1,287 | 182 | -1 | 1,468 | 1,646 | 152 | -2 | 1,796 | ||||||||||||||||
U.S. government and federal | ||||||||||||||||||||||||
agency | 5,029 | 86 | - | 5,115 | 1,957 | 56 | - | 2,013 | ||||||||||||||||
Retained interests | 16 | 1 | - | 17 | 16 | 1 | - | 17 | ||||||||||||||||
Equity | ||||||||||||||||||||||||
Available-for-sale | 144 | 55 | -1 | 198 | 197 | 58 | -1 | 254 | ||||||||||||||||
Trading | 19 | - | - | 19 | 21 | - | - | 21 | ||||||||||||||||
36,242 | 5,742 | -131 | 41,853 | 42,493 | 5,305 | -320 | 47,478 | |||||||||||||||||
Eliminations | -4 | - | - | -4 | -4 | - | - | -4 | ||||||||||||||||
Total | $ | 36,330 | $ | 5,797 | $ | -135 | $ | 41,992 | $ | 42,571 | $ | 5,309 | $ | -322 | $ | 47,558 | ||||||||
(a) Substantially collateralized by U.S. mortgages. At March 31, 2015, $1,191 million related to securities issued by government-sponsored entities and $34 million related to securities of private-label issuers. Securities issued by private-label issuers are collateralized primarily by pools of individual direct mortgage loans of financial institutions | ||||||||||||||||||||||||
Schedule of investments, by type and length in continuous loss position | ESTIMATED FAIR VALUE AND GROSS UNREALIZED LOSSES OF 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(a) | losses(a)(b) | fair value | losses(b) | ||||||||||||||||||||
31-Mar-15 | ||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||
U.S. corporate | $ | 820 | $ | -22 | $ | 295 | $ | -30 | ||||||||||||||||
State and municipal | 206 | -2 | 203 | -48 | ||||||||||||||||||||
Residential mortgage-backed | 127 | -1 | 97 | -3 | ||||||||||||||||||||
Commercial mortgage-backed | 101 | - | 26 | -5 | ||||||||||||||||||||
Asset-backed | 58 | - | 77 | -17 | ||||||||||||||||||||
Corporate – non-U.S. | 27 | -1 | 2 | - | ||||||||||||||||||||
Government – non-U.S. | 403 | -1 | - | - | ||||||||||||||||||||
U.S. government and federal agency | 1,497 | - | 1 | - | ||||||||||||||||||||
Equity | 16 | -5 | - | - | ||||||||||||||||||||
Total | $ | 3,255 | $ | -32 | $ | 701 | $ | -103 | (c) | |||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||
U.S. corporate | $ | 554 | $ | -16 | $ | 836 | $ | -53 | ||||||||||||||||
State and municipal | 81 | -1 | 348 | -55 | ||||||||||||||||||||
Residential mortgage-backed | 30 | - | 159 | -6 | ||||||||||||||||||||
Commercial mortgage-backed | 165 | -1 | 204 | -9 | ||||||||||||||||||||
Asset-backed | 7,493 | -158 | 77 | -17 | ||||||||||||||||||||
Corporate – non-U.S. | 42 | -1 | 3 | - | ||||||||||||||||||||
Government – non-U.S. | 677 | -2 | 14 | - | ||||||||||||||||||||
U.S. government and federal agency | 705 | - | 1 | - | ||||||||||||||||||||
Retained interests | - | - | - | - | ||||||||||||||||||||
Equity | 18 | -3 | - | - | ||||||||||||||||||||
Total | $ | 9,765 | $ | -182 | $ | 1,642 | $ | -140 | ||||||||||||||||
(a) Includes the estimated fair value of and gross unrealized losses on Equity securities held by GE. At March 31, 2015, the estimated fair value of and gross unrealized losses on Equity securities were $5 million and $(4) million, respectively. At December 31, 2014, the estimated fair value of and gross unrealized losses on Equity securities were $4 million and $(2) million, respectively. | ||||||||||||||||||||||||
(b) Included gross unrealized losses related to securities that had other-than-temporary impairments previously recognized of an insignificant amount at March 31, 2015. | ||||||||||||||||||||||||
(c) The majority relate to debt securities held to support obligations to holders of GICs and more than 70% are debt securities that were considered to be investment-grade by the major rating agencies at March 31, 2015. | ||||||||||||||||||||||||
Pre Tax Other Than Temporary Impairments On Investment Securities [TableTextBlock] | PRE-TAX, OTHER-THAN-TEMPORARY IMPAIRMENTS ON INVESTMENT SECURITIES | |||||||||||||||||||||||
Three months ended March 31 | ||||||||||||||||||||||||
(In millions) | 2015 | 2014 | ||||||||||||||||||||||
Total pre-tax, OTTI recognized | $ | 3 | $ | 10 | ||||||||||||||||||||
Pre-tax, OTTI recognized in AOCI | - | -4 | ||||||||||||||||||||||
Pre-tax, OTTI recognized in earnings(a) | $ | 3 | $ | 6 | ||||||||||||||||||||
(a) Included pre-tax, other-than-temporary impairments recorded in earnings related to equity securities of an insignificant amount and $1 million in the three months ended March 31, 2015 and 2014, respectively. | ||||||||||||||||||||||||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Table Text Block] | CHANGES IN CUMULATIVE CREDIT LOSS IMPAIRMENTS RECOGNIZED ON DEBT SECURITIES STILL HELD | |||||||||||||||||||||||
Three months ended March 31 | ||||||||||||||||||||||||
(In millions) | 2015 | 2014 | ||||||||||||||||||||||
Cumulative credit loss impairments recognized, beginning of period | $ | 725 | $ | 1,021 | ||||||||||||||||||||
Credit loss impairments recognized on securities not previously impaired | - | - | ||||||||||||||||||||||
Incremental credit loss impairments recognized | ||||||||||||||||||||||||
on securities previously impaired | - | 1 | ||||||||||||||||||||||
Less credit loss impairments previously recognized on securities sold | ||||||||||||||||||||||||
during the period or that we intend to sell | 4 | 51 | ||||||||||||||||||||||
Cumulative credit loss impairments recognized, end of period | $ | 721 | $ | 971 | ||||||||||||||||||||
Schedule of contractual maturities | CONTRACTUAL MATURITIES OF INVESTMENT IN AVAILABLE-FOR-SALE DEBT SECURITIES | |||||||||||||||||||||||
(EXCLUDING MORTGAGE-BACKED AND ASSET-BACKED SECURITIES) | ||||||||||||||||||||||||
Amortized | Estimated | |||||||||||||||||||||||
(In millions) | cost | fair value | ||||||||||||||||||||||
Due | ||||||||||||||||||||||||
Within one year | $ | 4,722 | $ | 4,735 | ||||||||||||||||||||
After one year through five years | 3,706 | 3,967 | ||||||||||||||||||||||
After five years through ten years | 5,146 | 5,634 | ||||||||||||||||||||||
After ten years | 18,653 | 23,181 | ||||||||||||||||||||||
Supplemental gross realized gains losses on available-for-sale investment securities | GROSS REALIZED GAINS AND LOSSES ON AVAILABLE-FOR-SALE INVESTMENT SECURITIES | |||||||||||||||||||||||
Three months ended March 31 | ||||||||||||||||||||||||
(In millions) | 2015 | 2014 | ||||||||||||||||||||||
GE | ||||||||||||||||||||||||
Gains | $ | - | $ | - | ||||||||||||||||||||
Losses, including impairments | - | - | ||||||||||||||||||||||
Net | - | - | ||||||||||||||||||||||
GECC | ||||||||||||||||||||||||
Gains | 97 | 13 | ||||||||||||||||||||||
Losses, including impairments | -14 | -7 | ||||||||||||||||||||||
Net | 83 | 6 | ||||||||||||||||||||||
Total | $ | 83 | $ | 6 | ||||||||||||||||||||
Inventories_Tables
Inventories (Tables) | 3 Months Ended | |||||
Mar. 31, 2015 | ||||||
Inventory, Net [Abstract] | ||||||
Inventories | ||||||
(in millions) | 31-Mar-15 | 31-Dec-14 | ||||
GE | ||||||
Raw materials and work in process | $ | 9,896 | $ | 9,820 | ||
Finished goods | 7,314 | 7,126 | ||||
Unbilled shipments | 614 | 755 | ||||
17,824 | 17,701 | |||||
Less revaluation to LIFO | -43 | -62 | ||||
Total GE | 17,781 | 17,639 | ||||
GECC | ||||||
Finished goods | 49 | 50 | ||||
Total consolidated | $ | 17,830 | $ | 17,689 |
GECC_Financing_Receivables_and1
GECC Financing Receivables and Allowance for Losses on Financing Receivables (Tables) | 3 Months Ended | |||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||
Loans and Leases Receivable Disclosure [Abstract] | ||||||||||||||||||
GECC financing receivables | FINANCING RECEIVABLES, NET | |||||||||||||||||
(in millions) | 31-Mar-15 | 31-Dec-14 | ||||||||||||||||
Loans, net of deferred income | $ | 76,066 | $ | 197,949 | ||||||||||||||
Investment in financing leases, net of deferred income | 5,347 | 24,347 | ||||||||||||||||
81,413 | 222,296 | |||||||||||||||||
Allowance for losses | -3,349 | -4,914 | ||||||||||||||||
Financing receivables – net(a) | $ | 78,064 | $ | 217,382 | ||||||||||||||
(a) Financing receivables at December 31, 2014 included $209 million relating to loans that had been acquired in a transfer but have been subject to credit deterioration since origination. There were no such amounts at March 31, 2015. | ||||||||||||||||||
Financing receivables - net | FINANCING RECEIVABLES | |||||||||||||||||
(in millions) | 31-Mar-15 | 31-Dec-14 | ||||||||||||||||
Commercial | ||||||||||||||||||
CLL | $ | 12,555 | (a) | $ | 110,503 | |||||||||||||
Energy Financial Services | 2,666 | 2,580 | ||||||||||||||||
GE Capital Aviation Services (GECAS) | 7,817 | 8,263 | ||||||||||||||||
Other | 127 | 130 | ||||||||||||||||
Total Commercial | 23,165 | 121,476 | ||||||||||||||||
Consumer | 58,248 | (b) | 100,820 | |||||||||||||||
Total financing receivables | 81,413 | 222,296 | ||||||||||||||||
Allowance for losses | -3,349 | -4,914 | ||||||||||||||||
Total financing receivables – net | $ | 78,064 | $ | 217,382 | ||||||||||||||
Includes Healthcare Equipment Finance and Working Capital Solutions, a business that purchases GE customer receivables. | ||||||||||||||||||
Includes Synchrony Financial, our U.S. consumer business. | ||||||||||||||||||
Schedule Of Allowance For Losses | ALLOWANCE FOR LOSSES | |||||||||||||||||
Provision | ||||||||||||||||||
Balance at | charged to | Gross | Balance at | |||||||||||||||
(In millions) | 1-Jan | operations(a) | Other | (b) | write-offs | (a)(c) | Recoveries | (c) | 31-Mar | |||||||||
2015 | ||||||||||||||||||
Commercial | ||||||||||||||||||
CLL | $ | 831 | $ | 1,749 | $ | -250 | $ | -2,345 | $ | 50 | $ | 35 | ||||||
Energy Financial Services | 26 | 7 | -1 | -15 | - | 17 | ||||||||||||
GECAS | 46 | -4 | - | - | - | 42 | ||||||||||||
Total Commercial | 903 | 1,752 | -251 | -2,360 | 50 | 94 | ||||||||||||
Consumer | 4,011 | 3,107 | -274 | -3,885 | 296 | 3,255 | ||||||||||||
Total | $ | 4,914 | $ | 4,859 | $ | -525 | $ | -6,245 | $ | 346 | $ | 3,349 | ||||||
2014 | ||||||||||||||||||
Commercial | ||||||||||||||||||
CLL | $ | 978 | $ | 102 | $ | 1 | $ | -256 | $ | 43 | $ | 868 | ||||||
Energy Financial Services | 8 | 9 | - | -2 | 1 | 16 | ||||||||||||
GECAS | 17 | 8 | - | - | - | 25 | ||||||||||||
Other | 2 | -1 | -1 | - | - | - | ||||||||||||
Total Commercial | 1,005 | 118 | - | -258 | 44 | 909 | ||||||||||||
Consumer | 3,981 | 866 | 16 | -1,083 | 280 | 4,060 | ||||||||||||
Total | $ | 4,986 | $ | 984 | $ | 16 | $ | -1,341 | $ | 324 | $ | 4,969 | ||||||
Provision charged to operations included $3,955 million and gross write-offs included $5,072 million related to the effects of the 2015 reclassification of financing receivables to financing receivables held for sale recorded at the lower of cost or fair value, less cost to sell. | ||||||||||||||||||
Other primarily includes the 2015 reclassification of financing receivables to assets of businesses held for sale and the effects of currency exchange. | ||||||||||||||||||
Net write-offs (gross write-offs less recoveries) in certain portfolios may exceed the beginning allowance for losses as a result of losses that are incurred subsequent to the beginning of the fiscal year due to information becoming available during the current year, which may identify further deterioration on existing financing receivables. | ||||||||||||||||||
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 3 Months Ended | |||||||||||
Mar. 31, 2015 | ||||||||||||
Property, Plant and Equipment [Abstract] | ||||||||||||
Property, Plant and Equipment | (In millions) | 31-Mar-15 | 31-Dec-14 | |||||||||
Original cost | $ | 102,637 | $ | 113,124 | ||||||||
Less accumulated depreciation and amortization | -41,418 | -46,878 | ||||||||||
Property, plant and equipment – net | $ | 61,219 | $ | 66,246 | ||||||||
Acquisitions_Goodwill_and_Othe1
Acquisitions, Goodwill and Other Intangible Assets (Tables) | 3 Months Ended | |||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||
Acquisitions, Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||
Changes in goodwill balance | CHANGES IN GOODWILL BALANCES | |||||||||||||||||
Dispositions, | ||||||||||||||||||
currency | ||||||||||||||||||
Balance at | exchange | Balance at | ||||||||||||||||
(In millions) | 1-Jan-15 | Acquisitions | and other | 31-Mar-15 | ||||||||||||||
Power & Water | $ | 8,754 | $ | 31 | $ | -169 | $ | 8,616 | ||||||||||
Oil & Gas | 10,572 | - | -337 | 10,235 | ||||||||||||||
Energy Management | 4,570 | - | -426 | 4,144 | ||||||||||||||
Aviation | 8,952 | - | -489 | 8,463 | ||||||||||||||
Healthcare | 17,532 | - | -137 | 17,395 | ||||||||||||||
Transportation | 887 | - | -21 | 866 | ||||||||||||||
Appliances & Lighting | 226 | - | -14 | 212 | ||||||||||||||
GE Capital | 24,489 | 752 | -5,602 | 19,639 | ||||||||||||||
Corporate | 34 | - | - | 34 | ||||||||||||||
Total | $ | 76,016 | $ | 783 | $ | -7,195 | $ | 69,604 | ||||||||||
Goodwill and other intangible assets | OTHER INTANGIBLE ASSETS - NET | |||||||||||||||||
(In millions) | 31-Mar-15 | 31-Dec-14 | ||||||||||||||||
Intangible assets subject to amortization | $ | 13,408 | $ | 13,917 | ||||||||||||||
Indefinite-lived intangible assets(a) | 125 | 130 | ||||||||||||||||
Total | $ | 13,533 | $ | 14,047 | ||||||||||||||
(a) Indefinite-lived intangible assets principally comprise trademarks and in-process research and development. | ||||||||||||||||||
Intangible assets subject to amortization | INTANGIBLE ASSETS SUBJECT TO AMORTIZATION | |||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||
Gross | Gross | |||||||||||||||||
carrying | Accumulated | carrying | Accumulated | |||||||||||||||
(In millions) | amount | amortization | Net | amount | amortization | Net | ||||||||||||
Customer-related | $ | 8,254 | $ | -2,553 | $ | 5,701 | $ | 8,483 | $ | -2,616 | $ | 5,867 | ||||||
Patents and technology | 6,421 | -2,989 | 3,432 | 6,772 | -2,977 | 3,795 | ||||||||||||
Capitalized software | 7,832 | -4,745 | 3,087 | 8,229 | -4,944 | 3,285 | ||||||||||||
Trademarks | 1,145 | -263 | 882 | 1,159 | -271 | 888 | ||||||||||||
Lease valuations | 251 | -124 | 127 | 140 | -124 | 16 | ||||||||||||
Present value of future profits(a) | 623 | -623 | - | 614 | -614 | - | ||||||||||||
All other | 687 | -508 | 179 | 460 | -394 | 66 | ||||||||||||
Total | $ | 25,213 | $ | -11,805 | $ | 13,408 | $ | 25,857 | $ | -11,940 | $ | 13,917 | ||||||
(a) Balances at March 31, 2015 and December 31, 2014 reflect adjustments of $287 million and $293 million, respectively, to the present value of future profits in our run-off insurance operation to reflect the effects that would have been recognized had the related unrealized investment securities holding gains and losses actually been realized. | ||||||||||||||||||
Borrowings_and_Bank_Deposits_T
Borrowings and Bank Deposits (Tables) | 3 Months Ended | |||||
Mar. 31, 2015 | ||||||
Debt Disclosure [Abstract] | ||||||
GECC Borrowings | (In millions) | 31-Mar-15 | 31-Dec-14 | |||
Short-term borrowings | ||||||
GE | ||||||
Commercial paper | $ | 500 | $ | 500 | ||
Payable to banks | 410 | 343 | ||||
Current portion of long-term borrowings | 2,059 | 2,068 | ||||
Other | 870 | 961 | ||||
Total GE short-term borrowings | 3,839 | 3,872 | ||||
GECC | ||||||
Commercial paper(a) | ||||||
U.S. | 22,227 | 22,019 | ||||
Non-U.S. | 2,787 | 2,993 | ||||
Current portion of long-term borrowings(a)(b)(c) | 35,545 | 37,724 | ||||
GE Interest Plus notes(d) | 5,457 | 5,467 | ||||
Other(c) | 162 | 312 | ||||
Total GECC short-term borrowings | 66,178 | 68,515 | ||||
Eliminations | -806 | -862 | ||||
Total short-term borrowings | $ | 69,211 | $ | 71,525 | ||
Long-term borrowings | ||||||
GE | ||||||
Senior notes | $ | 11,947 | $ | 11,945 | ||
Payable to banks | 75 | 5 | ||||
Other | 397 | 518 | ||||
Total GE long-term borrowings | 12,419 | 12,468 | ||||
GECC | ||||||
Senior unsecured notes(a)(b)(e) | 156,635 | 162,629 | ||||
Subordinated notes(a) | 4,635 | 4,804 | ||||
Subordinated debentures(a)(f) | 6,543 | 7,085 | ||||
Other(a)(c)(g) | 10,224 | 13,231 | ||||
Total GECC long-term borrowings | 178,037 | 187,749 | ||||
Eliminations | -36 | -45 | ||||
Total long-term borrowings | $ | 190,420 | $ | 200,172 | ||
Non-recourse borrowings of consolidated securitization entities(h) | $ | 29,035 | $ | 29,938 | ||
Bank deposits(i) | $ | 62,691 | $ | 62,839 | ||
Total borrowings and bank deposits | $ | 351,357 | $ | 364,474 | ||
On April 10, 2015, GE announced it would provide a full and unconditional guarantee on the payment of the principal and interest on all tradable senior and subordinated outstanding long-term debt securities and all commercial paper issued or guaranteed by GECC. Short-term borrowings included $25,014 million of commercial paper and $31,127 million of the current portion of long-term borrowings. Long-term borrowings included $143,153 million of senior unsecured notes, $3,871 million of subordinated notes, $6,543 million of subordinated debentures, and $400 million of other. | ||||||
Included $434 million and $439 million of obligations to holders of GICs at March 31, 2015 and December 31, 2014, respectively. These obligations included conditions under which certain GIC holders could require immediate repayment of their investment should the long-term credit ratings of GECC fall below AA-/Aa3. The remaining outstanding GICs will continue to be subject to their scheduled maturities and individual terms, which may include provisions permitting redemption upon a downgrade of one or more of GECC’s ratings, among other things. | ||||||
Included $5,547 million and $5,552 million of funding secured by real estate, aircraft and other collateral at March 31, 2015 and December 31, 2014, respectively, of which $1,732 million and $1,847 million is non-recourse to GECC at March 31, 2015 and December 31, 2014, respectively. | ||||||
Entirely variable denomination floating-rate demand notes. | ||||||
Included $4,592 million related to Synchrony Financial. | ||||||
Subordinated debentures receive rating agency equity credit. | ||||||
Included $5,651 million related to Synchrony Financial. | ||||||
Included $6,374 million and $7,442 million of current portion of long-term borrowings at March 31, 2015 and December 31, 2014, respectively. See Note 16. | ||||||
(i) Included $8,913 million and $10,258 million of deposits in non-U.S. banks at March 31, 2015 and December 31, 2014, respectively, and $15,513 million and $22,848 million of certificates of deposits with maturities greater than one year at March 31, 2015 and December 31, 2014, respectively. |
Postretirement_Benefit_Plans_T
Postretirement Benefit Plans (Tables) | 3 Months Ended | ||||||
Mar. 31, 2015 | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Cost of Postretirement Benefit Plans | Other pension plans | ||||||
Three months ended March 31 | |||||||
(In millions) | 2015 | 2014 | |||||
Service cost for benefits earned | $ | 105 | $ | 114 | |||
Prior service cost amortization | - | 1 | |||||
Expected return on plan assets | -209 | -197 | |||||
Interest cost on benefit obligations | 133 | 146 | |||||
Net actuarial loss amortization | 74 | 49 | |||||
Pension plans cost | $ | 103 | $ | 113 | |||
Effect on operations of the pension plans | EFFECT ON OPERATIONS OF PENSION PLANS | ||||||
Principal pension plans | |||||||
Three months ended March 31 | |||||||
(In millions) | 2015 | 2014 | |||||
Service cost for benefits earned | $ | 361 | $ | 318 | |||
Prior service cost amortization | 52 | 54 | |||||
Expected return on plan assets | -825 | -801 | |||||
Interest cost on benefit obligations | 695 | 686 | |||||
Net actuarial loss amortization | 825 | 641 | |||||
Curtailment loss | 71 | (a) | - | ||||
Pension plans cost | $ | 1,179 | $ | 898 | |||
(a) Curtailment loss resulting from the GE Capital Exit Plan. | |||||||
Retiree Benefit Plan [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Cost of Postretirement Benefit Plans | EFFECT ON OPERATIONS OF PRINCIPAL RETIREE HEALTH AND LIFE INSURANCE PLANS | ||||||
Principal retiree health | |||||||
and life insurance plans | |||||||
Three months ended March 31 | |||||||
(In millions) | 2015 | 2014 | |||||
Service cost for benefits earned | $ | 41 | $ | 44 | |||
Prior service cost amortization | 33 | 98 | |||||
Expected return on plan assets | -12 | -12 | |||||
Interest cost on benefit obligations | 101 | 110 | |||||
Net actuarial loss (gain) amortization | 1 | -43 | |||||
Curtailment loss | 4 | (a) | - | ||||
Retiree benefit plans cost | $ | 168 | $ | 197 | |||
(a) Curtailment loss resulting from the GE Capital Exit Plan. | |||||||
Income_Taxes_Tables
Income Taxes (Tables) | 3 Months Ended | |||||
Mar. 31, 2015 | ||||||
Income Tax Disclosure [Abstract] | ||||||
Unrecognized tax benefits | UNRECOGNIZED TAX BENEFITS | |||||
(In millions) | 31-Mar-15 | 31-Dec-14 | ||||
Unrecognized tax benefits | $ | 5,444 | $ | 5,619 | ||
Portion that, if recognized, would reduce tax expense and effective tax rate(a) | 4,020 | 4,059 | ||||
Accrued interest on unrecognized tax benefits | 814 | 807 | ||||
Accrued penalties on unrecognized tax benefits | 96 | 103 | ||||
Reasonably possible reduction to the balance of unrecognized tax benefits | ||||||
in succeeding 12 months | 0-800 | 0-900 | ||||
Portion that, if recognized, would reduce tax expense and effective tax rate(a) | 0-300 | 0-300 | ||||
(a) Some portion of such reduction may be reported as discontinued operations. |
Shareowners_Equity_Tables
Shareowners' Equity (Tables) | 3 Months Ended | ||||||||||
Mar. 31, 2015 | |||||||||||
Stockholders' Equity Note [Abstract] | |||||||||||
Accumulated other comprehensive income | ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | ||||||||||
Three months ended March 31 | |||||||||||
(In millions) | 2015 | 2014 | |||||||||
Investment securities | |||||||||||
Beginning balance | $ | 1,013 | $ | 307 | |||||||
Other comprehensive income (loss) (OCI) before reclassifications – | |||||||||||
net of deferred taxes of $155 and $246 | 287 | 447 | |||||||||
Reclassifications from OCI – net of deferred taxes | |||||||||||
of $(29) and $7 | -54 | 10 | |||||||||
Other comprehensive income (loss)(a) | 233 | 457 | |||||||||
Less OCI attributable to noncontrolling interests | 1 | - | |||||||||
Ending balance | $ | 1,245 | $ | 764 | |||||||
Currency translation adjustments (CTA) | |||||||||||
Beginning balance | $ | -2,427 | $ | 126 | |||||||
OCI before reclassifications – net of deferred taxes | |||||||||||
of $1,544 and $71 | -5,339 | 47 | |||||||||
Reclassifications from OCI – net of deferred taxes | |||||||||||
of $(1) and $124 | 3 | 2 | |||||||||
Other comprehensive income (loss)(a) | -5,336 | 49 | |||||||||
Less OCI attributable to noncontrolling interests | -47 | -2 | |||||||||
Ending balance | $ | -7,716 | $ | 177 | |||||||
Cash flow hedges | |||||||||||
Beginning balance | $ | -180 | $ | -257 | |||||||
OCI before reclassifications – net of deferred taxes | |||||||||||
of $(38) and $71 | -926 | 99 | |||||||||
Reclassifications from OCI – net of deferred taxes | |||||||||||
of $117 and $(6) | 880 | -31 | |||||||||
Other comprehensive income (loss)(a) | -46 | 68 | |||||||||
Less OCI attributable to noncontrolling interests | - | - | |||||||||
Ending balance | $ | -226 | $ | -189 | |||||||
Benefit plans | |||||||||||
Beginning balance | $ | -16,578 | $ | -9,296 | |||||||
Net actuarial gain (loss) – net of deferred taxes | |||||||||||
of $65 and $42 | 210 | 172 | |||||||||
Net curtailment/settlement - net of deferred taxes | |||||||||||
of $27 and $0 | 48 | - | |||||||||
Prior service cost amortization – net of deferred taxes | |||||||||||
of $37 and $64 | 50 | 93 | |||||||||
Net actuarial loss amortization – net of deferred taxes | |||||||||||
of $304 and $213 | 601 | 430 | |||||||||
Other comprehensive income (loss)(a) | 909 | 695 | |||||||||
Less OCI attributable to noncontrolling interests | -2 | - | |||||||||
Ending balance | $ | -15,667 | $ | -8,601 | |||||||
Accumulated other comprehensive income (loss) at March 31 | $ | -22,364 | $ | -7,849 | |||||||
(a) Total other comprehensive income (loss) was $(4,240) million and $1,269 million in the three months ended March 31, 2015 and 2014, respectively. | |||||||||||
Reclassification out of Accumulated Other Comprehensive Income | RECLASSIFICATION OUT OF AOCI | ||||||||||
Three months ended March 31 | |||||||||||
(In millions) | 2015 | 2014 | Statement of Earnings Caption | ||||||||
Available-for-sale securities | |||||||||||
Realized gains (losses) on | |||||||||||
sale/impairment of securities | $ | 83 | $ | -17 | Other income | ||||||
-29 | 7 | Benefit (provision) for income taxes | |||||||||
$ | 54 | $ | -10 | Net of tax | |||||||
Currency translation adjustments | |||||||||||
Gains (losses) on dispositions | $ | -2 | $ | -126 | Costs and expenses | ||||||
-1 | 124 | Benefit (provision) for income taxes | |||||||||
$ | -3 | $ | -2 | Net of tax | |||||||
Cash flow hedges | |||||||||||
Gains (losses) on interest rate derivatives | $ | -39 | $ | -69 | Interest and other financial charges | ||||||
Foreign exchange contracts | -958 | 128 | (a) | ||||||||
Other | - | -22 | (b) | ||||||||
-997 | 37 | Total before tax | |||||||||
117 | -6 | Benefit (provision) for income taxes | |||||||||
$ | -880 | $ | 31 | Net of tax | |||||||
Benefit plan items | |||||||||||
Curtailment loss | $ | -75 | $ | - | (c) | ||||||
Amortization of prior service costs | -87 | -157 | (c) | ||||||||
Amortization of actuarial gains (losses) | -905 | -643 | (c) | ||||||||
-1,067 | -800 | Total before tax | |||||||||
368 | 277 | Benefit (provision) for income taxes | |||||||||
$ | -699 | $ | -523 | Net of tax | |||||||
Total reclassification adjustments | $ | -1,528 | $ | -504 | Net of tax | ||||||
Included $(944) million and $134 million in GECC revenues from services and $(14) million and $(6) million in interest and other financial charges in the three months ended March 31, 2015 and 2014, respectively. | |||||||||||
Primarily recorded in costs and expenses. | |||||||||||
Curtailment loss, amortization of prior service costs and actuarial gains and losses out of AOCI are included in the computation of net periodic pension costs. See Note 9 for further information. | |||||||||||
Noncontrolling Interests Balance [Table Text Block] | (In millions) | 31-Mar-15 | 31-Dec-14 | ||||||||
GECC preferred stock | $ | 4,950 | $ | 4,950 | |||||||
Synchrony Financial | 2,617 | 2,531 | |||||||||
Other noncontrolling interests in consolidated affiliates(a) | 1,171 | 1,193 | |||||||||
Total | $ | 8,738 | $ | 8,674 | |||||||
(a) Consisted of a number of individually insignificant noncontrolling interests in partnerships and consolidated affiliates. | |||||||||||
Changes to noncontrolling interests | CHANGES TO NONCONTROLLING INTERESTS | ||||||||||
Three months ended March 31 | |||||||||||
(In millions) | 2015 | 2014 | |||||||||
Beginning balance | $ | 8,674 | $ | 6,217 | |||||||
Net earnings (loss) | -31 | -33 | |||||||||
Dividends | -2 | -10 | |||||||||
Other (including AOCI)(a) | 97 | 9 | |||||||||
Ending balance | $ | 8,738 | $ | 6,183 | |||||||
(a) Includes research & development partner funding arrangements, acquisitions and eliminations. | |||||||||||
GECC_Revenues_from_Services_Ta
GECC Revenues from Services (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Financial Services Revenue [Abstract] | |||||||||
GECC Revenues from services | |||||||||
Three months ended March 31 | |||||||||
(In millions) | 2015 | 2014 | |||||||
Interest on loans | $ | 3,807 | $ | 4,029 | |||||
Equipment leased to others | 2,427 | 2,661 | |||||||
Fees | 1,048 | 1,086 | |||||||
Investment income(a) | 622 | 558 | |||||||
Associated companies | 388 | 373 | |||||||
Premiums earned by insurance activities | 329 | 352 | |||||||
Financing leases | 307 | 387 | |||||||
Other items(b) | -2,967 | 412 | |||||||
5,961 | 9,858 | ||||||||
Eliminations | -431 | -356 | |||||||
Total | $ | 5,530 | $ | 9,502 | |||||
Included net other-than-temporary impairments on investment securities of $3 million and $6 million in the three months ended March 31, 2015 and 2014, respectively. |
Earnings_Per_Share_Information1
Earnings Per Share Information (Tables) | 3 Months Ended | |||||||||||
Mar. 31, 2015 | ||||||||||||
Earnings Per Share [Abstract] | ||||||||||||
Calculation of earnings per share | Three months ended March 31 | |||||||||||
2015 | 2014 | |||||||||||
(In millions; per-share amounts in dollars) | Diluted | Basic | Diluted | Basic | ||||||||
Amounts attributable to the Company: | ||||||||||||
Consolidated | ||||||||||||
Earnings (loss) from continuing operations attributable to | ||||||||||||
common shareowners for per-share calculation(a)(b) | $ | -11,374 | $ | -11,374 | $ | 2,743 | $ | 2,743 | ||||
Earnings (loss) from discontinued operations | ||||||||||||
for per-share calculation(a)(b) | -2,205 | -2,205 | 252 | 252 | ||||||||
Net earnings (loss) attributable to GE common | ||||||||||||
shareowners for per-share calculation(a)(b) | $ | -13,576 | $ | -13,576 | $ | 2,995 | $ | 2,995 | ||||
Average equivalent shares | ||||||||||||
Shares of GE common stock outstanding | 10,067 | 10,067 | 10,045 | 10,045 | ||||||||
Employee compensation-related shares (including | ||||||||||||
stock options) | - | - | 78 | - | ||||||||
Total average equivalent shares | 10,067 | 10,067 | 10,123 | 10,045 | ||||||||
Per-share amounts | ||||||||||||
Earnings (loss) from continuing operations | $ | -1.13 | $ | -1.13 | $ | 0.27 | $ | 0.27 | ||||
Earnings (loss) from discontinued operations | -0.22 | -0.22 | 0.02 | 0.03 | ||||||||
Net earnings (loss) | -1.35 | -1.35 | 0.3 | 0.3 | ||||||||
Our unvested restricted stock unit awards that contain non-forfeitable rights to dividends or dividend equivalents are considered participating securities. For the period ended March 31, 2015, pursuant to the two-class method, as a result of the net loss from continuing operations, losses were not allocated to the participating securities. For the period ended March 31, 2014, participating securities are included in the computation of earnings (loss) per share pursuant to the two-class method and the application of this treatment had an insignificant effect. | ||||||||||||
Included an insignificant amount of dividend equivalents in each of the periods presented. | ||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 3 Months Ended | |||||||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||||||
Assets and liabilities at fair value | ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASIS | |||||||||||||||||||||||||||
Netting | ||||||||||||||||||||||||||||
(In millions) | Level 1 | (a) | Level 2 | (a) | Level 3 | adjustment | (b) | Net balance | ||||||||||||||||||||
31-Mar-15 | ||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||
Investment securities | ||||||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||||||
U.S. corporate | $ | - | $ | 21,073 | $ | 3,226 | $ | - | $ | 24,299 | ||||||||||||||||||
State and municipal | - | 5,032 | 552 | - | 5,584 | |||||||||||||||||||||||
Residential mortgage-backed | - | 1,222 | 3 | - | 1,225 | |||||||||||||||||||||||
Commercial mortgage-backed | - | 2,595 | 2 | - | 2,597 | |||||||||||||||||||||||
Asset-backed | - | 183 | 112 | - | 295 | |||||||||||||||||||||||
Corporate – non-U.S. | 13 | 641 | 397 | - | 1,051 | |||||||||||||||||||||||
Government – non-U.S. | 55 | 1,411 | 2 | - | 1,468 | |||||||||||||||||||||||
U.S. government and federal agency | - | 4,824 | 291 | - | 5,115 | |||||||||||||||||||||||
Retained interests | - | - | 17 | - | 17 | |||||||||||||||||||||||
Equity | ||||||||||||||||||||||||||||
Available-for-sale | 296 | 20 | 6 | - | 322 | |||||||||||||||||||||||
Trading | 19 | - | - | - | 19 | |||||||||||||||||||||||
Derivatives(c) | - | 11,508 | 58 | -8,546 | 3,020 | |||||||||||||||||||||||
Other(d) | - | - | 225 | - | 225 | |||||||||||||||||||||||
Total | $ | 383 | $ | 48,509 | $ | 4,891 | $ | -8,546 | $ | 45,237 | ||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||
Derivatives | $ | - | $ | 6,861 | $ | 20 | $ | -5,722 | $ | 1,159 | ||||||||||||||||||
Other(e) | - | 1,210 | - | - | 1,210 | |||||||||||||||||||||||
Total | $ | - | $ | 8,071 | $ | 20 | $ | -5,722 | $ | 2,369 | ||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||
Investment securities | ||||||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||||||
U.S. corporate | $ | - | $ | 20,659 | $ | 3,140 | $ | - | $ | 23,799 | ||||||||||||||||||
State and municipal | - | 5,171 | 578 | - | 5,749 | |||||||||||||||||||||||
Residential mortgage-backed | - | 1,709 | 16 | - | 1,725 | |||||||||||||||||||||||
Commercial mortgage-backed | - | 3,054 | 9 | - | 3,063 | |||||||||||||||||||||||
Asset-backed(f) | - | 343 | 7,575 | - | 7,918 | |||||||||||||||||||||||
Corporate – non-U.S. | - | 680 | 456 | - | 1,136 | |||||||||||||||||||||||
Government – non-U.S. | 56 | 1,738 | 2 | - | 1,796 | |||||||||||||||||||||||
U.S. government and federal agency | - | 1,747 | 266 | - | 2,013 | |||||||||||||||||||||||
Retained interests | - | - | 17 | - | 17 | |||||||||||||||||||||||
Equity | - | |||||||||||||||||||||||||||
Available-for-sale | 293 | 19 | 9 | - | 321 | |||||||||||||||||||||||
Trading | 21 | - | - | - | 21 | |||||||||||||||||||||||
Derivatives(c) | - | 10,038 | 54 | -7,605 | 2,487 | |||||||||||||||||||||||
Other(d) | - | - | 277 | - | 277 | |||||||||||||||||||||||
Total | $ | 370 | $ | 45,158 | $ | 12,399 | $ | -7,605 | $ | 50,322 | ||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||
Derivatives | $ | - | $ | 4,971 | $ | 18 | $ | -4,407 | $ | 582 | ||||||||||||||||||
Other(e) | - | 1,178 | - | - | 1,178 | |||||||||||||||||||||||
Total | $ | - | $ | 6,149 | $ | 18 | $ | -4,407 | $ | 1,760 | ||||||||||||||||||
(a) There were no securities transferred between Level 1 and Level 2 in the three months ended March 31, 2015. There were $487 million of Government – non-U.S. and $13 million of Corporate – non-U.S. available-for-sale debt securities transferred from Level 1 to Level 2 in the twelve months ended December 31, 2014 primarily attributable to changes in market observable data. | ||||||||||||||||||||||||||||
(b) The netting of derivative receivables and payables (including the effects of any collateral posted or received) is permitted when a legally enforceable master netting agreement exists. | ||||||||||||||||||||||||||||
(c) The fair value of derivatives includes an adjustment for non-performance risk. The cumulative adjustment was a gain (loss) of $6 million and $9 million at March 31, 2015 and December 31, 2014, respectively. See Note 15 for additional information on the composition of our derivative portfolio. | ||||||||||||||||||||||||||||
(d) Includes private equity investments. | ||||||||||||||||||||||||||||
(e) Primarily represented the liability associated with certain of our deferred incentive compensation plans. | ||||||||||||||||||||||||||||
Changes in level 3 instruments | CHANGES IN LEVEL 3 INSTRUMENTS FOR THE THREE MONTHS ENDED | |||||||||||||||||||||||||||
Net | ||||||||||||||||||||||||||||
change in | ||||||||||||||||||||||||||||
Net | Net | unrealized | ||||||||||||||||||||||||||
realized/ | realized/ | gains | ||||||||||||||||||||||||||
unrealized | unrealized | (losses) | ||||||||||||||||||||||||||
gains | gains | relating to | ||||||||||||||||||||||||||
(losses) | (losses) | Transfers | Transfers | instruments | ||||||||||||||||||||||||
Balance at | included | included | into | out of | Balance at | still held at | ||||||||||||||||||||||
(In millions) | 1-Jan | in earnings(a) | in AOCI | Purchases | Sales | Settlements | Level 3(b) | Level 3(b) | 31-Mar | March 31(c ) | ||||||||||||||||||
2015 | ||||||||||||||||||||||||||||
Investment securities | ||||||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||||||
U.S. corporate | $ | 3,140 | $ | 8 | $ | 61 | $ | 94 | $ | -18 | $ | -36 | $ | - | $ | -23 | $ | 3,226 | $ | - | ||||||||
State and municipal | 578 | - | - | 7 | -31 | -2 | - | - | 552 | - | ||||||||||||||||||
RMBS | 16 | 5 | -4 | - | -14 | - | - | - | 3 | - | ||||||||||||||||||
CMBS | 9 | - | - | - | -7 | - | - | - | 2 | - | ||||||||||||||||||
ABS | 7,575 | - | 160 | 140 | -11 | -442 | - | -7,310 | 112 | - | ||||||||||||||||||
Corporate – non-U.S. | 456 | - | -7 | 252 | -57 | -245 | - | -2 | 397 | - | ||||||||||||||||||
Government – non-U.S. | 2 | - | - | - | - | - | - | - | 2 | - | ||||||||||||||||||
U.S. government and | ||||||||||||||||||||||||||||
federal agency | 266 | - | 26 | - | - | -1 | - | - | 291 | - | ||||||||||||||||||
Retained interests | 17 | - | - | 1 | - | -1 | - | - | 17 | - | ||||||||||||||||||
Equity | ||||||||||||||||||||||||||||
Available-for-sale | 9 | 2 | -2 | - | - | -3 | - | - | 6 | - | ||||||||||||||||||
Derivatives(d)(e) | 45 | 4 | 2 | - | - | -2 | - | -1 | 48 | 4 | ||||||||||||||||||
Other | 277 | -38 | - | - | -14 | - | - | - | 225 | -38 | ||||||||||||||||||
Total | $ | 12,390 | $ | -19 | $ | 236 | $ | 494 | $ | -152 | $ | -732 | $ | - | $ | -7,336 | $ | 4,881 | $ | -34 | ||||||||
2014 | ||||||||||||||||||||||||||||
Investment securities | ||||||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||||||
U.S. corporate | $ | 2,953 | $ | 8 | $ | 60 | $ | 153 | $ | -2 | $ | -112 | $ | 97 | $ | -53 | $ | 3,104 | $ | - | ||||||||
State and municipal | 96 | - | 27 | 9 | - | -7 | 435 | - | 560 | - | ||||||||||||||||||
RMBS | 86 | - | -1 | - | - | -4 | - | - | 81 | - | ||||||||||||||||||
CMBS | 10 | - | - | - | - | -1 | 2 | - | 11 | - | ||||||||||||||||||
ABS | 6,898 | 1 | -27 | 405 | - | -369 | - | - | 6,908 | - | ||||||||||||||||||
Corporate – non-U.S. | 678 | 1 | 15 | 219 | -2 | -223 | - | - | 688 | - | ||||||||||||||||||
Government – non-U.S. | 31 | - | - | - | - | - | - | -30 | 1 | - | ||||||||||||||||||
U.S. government and | ||||||||||||||||||||||||||||
federal agency | 225 | - | 9 | - | - | - | - | -2 | 232 | - | ||||||||||||||||||
Retained interests | 21 | - | - | 1 | - | -2 | - | - | 20 | - | ||||||||||||||||||
Equity | ||||||||||||||||||||||||||||
Available-for-sale | 11 | - | - | - | - | - | - | - | 11 | - | ||||||||||||||||||
Derivatives(d)(e) | 21 | 7 | - | -1 | - | 2 | -1 | - | 28 | 13 | ||||||||||||||||||
Other | 480 | 1 | - | - | -13 | - | - | -279 | 189 | -9 | ||||||||||||||||||
Total | $ | 11,510 | $ | 18 | $ | 83 | $ | 786 | $ | -17 | $ | -716 | $ | 533 | $ | -364 | $ | 11,833 | $ | 4 | ||||||||
Earnings effects are primarily included in the “GECC revenues from services” and “Interest and other financial charges” captions in the Statement of Earnings (Loss). | ||||||||||||||||||||||||||||
Transfers in and out of Level 3 are considered to occur at the beginning of the period. Transfers out of Level 3 for the three months ended March 31, 2015 were primarily a result of the reclassification of investments in our CLL business in asset-backed securities collateralized by senior secured loans of high-quality, middle-market companies in a variety of industries to assets of business held for sale. Transfers out of Level 3 for the three months ended March 31, 2014 were primarily a result of increased use of quotes from independent pricing vendors based on recent trading activity. | ||||||||||||||||||||||||||||
Represents the amount of unrealized gains or losses for the period included in earnings. | ||||||||||||||||||||||||||||
Represents derivative assets net of derivative liabilities and included cash accruals of $10 million and $6 million not reflected in the fair value hierarchy table for the three months ended March 31, 2015 and 2014, respectively. | ||||||||||||||||||||||||||||
Gains (losses) included in net realized/unrealized gains (losses) included in earnings were offset by the earnings effects from the underlying items that were economically hedged. See Note 15. | ||||||||||||||||||||||||||||
Non-recurring fair value amounts (as measured at the time of the adjustment) for those assets remeasured to fair value on a non-recurring basis | Remeasured during | Remeasured during | ||||||||||||||||||||||||||
the three months ended | the year ended | |||||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||||||||||
(In millions) | Level 2 | Level 3 | Level 2 | Level 3 | ||||||||||||||||||||||||
Financing receivables and financing receivables held for sale | $ | - | $ | 41,644 | $ | 49 | $ | 808 | ||||||||||||||||||||
Cost and equity method investments | - | 2,151 | 2 | 399 | ||||||||||||||||||||||||
Long-lived assets, including real estate | - | 2,351 | 364 | 836 | ||||||||||||||||||||||||
Total | $ | - | $ | 46,146 | $ | 415 | $ | 2,043 | ||||||||||||||||||||
Three months ended March 31 | ||||||||||||||||||||||||||||
(In millions) | 2015 | 2014 | ||||||||||||||||||||||||||
Financing receivables and financing receivables held for sale | $ | -4,000 | $ | -119 | ||||||||||||||||||||||||
Cost and equity method investments | -1,462 | -208 | ||||||||||||||||||||||||||
Long-lived assets, including real estate | -602 | -64 | ||||||||||||||||||||||||||
Total | $ | -6,064 | $ | -391 | ||||||||||||||||||||||||
Fair value adjustments to assets measured on a non-recurring basis | The following table represents the fair value adjustments to assets measured at fair value on a non-recurring basis and still held at March 31, 2015 and 2014. | |||||||||||||||||||||||||||
Three months ended March 31 | ||||||||||||||||||||||||||||
(In millions) | 2015 | 2014 | ||||||||||||||||||||||||||
Financing receivables and financing receivables held for sale | $ | -4,000 | $ | -119 | ||||||||||||||||||||||||
Cost and equity method investments | -1,462 | -208 | ||||||||||||||||||||||||||
Long-lived assets, including real estate | -602 | -64 | ||||||||||||||||||||||||||
Total | $ | -6,064 | $ | -391 | ||||||||||||||||||||||||
Significant Unobservable Inputs Used For Level Three Recurring And Nonrecurring Measurements [Table Text Block] | LEVEL 3 MEASUREMENTS - SIGNIFICANT UNOBSERVABLE INPUTS | |||||||||||||||||||||||||||
Range | ||||||||||||||||||||||||||||
(Dollars in millions) | Fair value | Valuation technique | Unobservable inputs | (weighted average) | ||||||||||||||||||||||||
31-Mar-15 | ||||||||||||||||||||||||||||
Recurring fair value measurements | ||||||||||||||||||||||||||||
Investment securities – Debt | ||||||||||||||||||||||||||||
U.S. corporate | $ | 1,015 | Income approach | Discount rate(a) | 1.7%-13.2% (6.7%) | |||||||||||||||||||||||
State and municipal | 456 | Income approach | Discount rate(a) | 2.8%-6.3% (4.8%) | ||||||||||||||||||||||||
Asset-backed | 99 | Income approach | Discount rate(a) | 5.3%-9.0% (5.6%) | ||||||||||||||||||||||||
Corporate – non-U.S. | 333 | Income approach | Discount rate(a) | 0.2%-14.0% (5.6%) | ||||||||||||||||||||||||
Other financial assets | 195 | Income approach, | EBITDA multiple | 6.6X-9.0X (8.1X) | ||||||||||||||||||||||||
Market comparables | Capitalization rate(b) | 6.5%-7.8% (7.7%) | ||||||||||||||||||||||||||
Non-recurring fair value measurements | ||||||||||||||||||||||||||||
Financing receivables and | ||||||||||||||||||||||||||||
financing receivables held for sale | $ | 40,043 | Income approach | Discount rate(a) | 1.0%-30.0% (8.5%) | |||||||||||||||||||||||
Cost and equity method investments | 1,928 | Market comparables | Price to book multiple | 0.4X-1.0X (0.6X) | ||||||||||||||||||||||||
Long-lived assets, including real estate | 381 | Income approach | Capitalization rate(b) | 4.5%-15.4% (7.6%) | ||||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||||||
Recurring fair value measurements | ||||||||||||||||||||||||||||
Investment securities – Debt | ||||||||||||||||||||||||||||
U.S. corporate | $ | 980 | Income approach | Discount rate(a) | 1.5%-14.8% (6.6%) | |||||||||||||||||||||||
State and municipal | 481 | Income approach | Discount rate(a) | 1.9%-5.9% (2.8%) | ||||||||||||||||||||||||
Asset-backed | 7,554 | Income approach | Discount rate(a) | 2.2%-12.4% (5.0%) | ||||||||||||||||||||||||
Corporate – non-U.S. | 388 | Income approach | Discount rate(a) | 0.4%-14.0% (5.7%) | ||||||||||||||||||||||||
Other financial assets | 117 | Income approach, | EBITDA multiple | 5.4X-9.1X (7.7X) | ||||||||||||||||||||||||
Market comparables | Capitalization rate(b) | 6.5%-7.8% (7.7%) | ||||||||||||||||||||||||||
Non-recurring fair value measurements | ||||||||||||||||||||||||||||
Financing receivables and | ||||||||||||||||||||||||||||
financing receivables held for sale | $ | 82 | Business enterprise | EBITDA multiple | 4.3X-6.5X (6.2X) | |||||||||||||||||||||||
value | ||||||||||||||||||||||||||||
Cost and equity method investments | 343 | Income approach, | Discount rate(a) | 8.0%-10.0% (9.4%) | ||||||||||||||||||||||||
Business enterprise | EBITDA multiple | 1.8X-10.5X (7.0X) | ||||||||||||||||||||||||||
value, Market comparables | ||||||||||||||||||||||||||||
Long-lived assets, including real estate | 666 | Income approach | Discount rate(a) | 2.0%-19.0% (6.8%) | ||||||||||||||||||||||||
Discount rates are determined based on inputs that market participants would use when pricing investments, including credit and liquidity risk. An increase in the discount rate would result in a decrease in the fair value. | ||||||||||||||||||||||||||||
Represents the rate of return on net operating income that is considered acceptable for an investor and is used to determine a property’s capitalized value. An increase in the capitalization rate would result in a decrease in the fair value. | ||||||||||||||||||||||||||||
Financial_Instruments_Tables
Financial Instruments (Tables) | 3 Months Ended | |||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||
Financial Instruments [Abstract] | ||||||||||||||||||
Estimated fair value of assets and liabilities | 31-Mar-15 | 31-Dec-14 | ||||||||||||||||
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) | $ | 505 | $ | 552 | $ | (a) | $ | 502 | $ | 551 | ||||||
Liabilities | ||||||||||||||||||
Borrowings(b) | (a) | -16,258 | -17,471 | (a) | -16,340 | -17,503 | ||||||||||||
GECC | ||||||||||||||||||
Assets | ||||||||||||||||||
Loans | (a) | 72,748 | 78,974 | (a) | 193,214 | 197,833 | ||||||||||||
Other commercial mortgages | (a) | 1,430 | 1,569 | (a) | 1,427 | 1,508 | ||||||||||||
Loans held for sale | (a) | 76,679 | 76,797 | (a) | 1,830 | 1,855 | ||||||||||||
Other financial instruments(c) | (a) | 239 | 315 | (a) | 566 | 786 | ||||||||||||
Liabilities | ||||||||||||||||||
Borrowings and bank deposits(b)(d) | (a) | -335,941 | -351,046 | (a) | -349,041 | -365,724 | ||||||||||||
Investment contract benefits | (a) | -2,923 | -3,553 | (a) | -2,970 | -3,565 | ||||||||||||
Guaranteed investment contracts | (a) | -1,000 | -1,049 | (a) | -1,000 | -1,031 | ||||||||||||
Insurance – credit life(e) | - | - | - | 1,843 | -90 | -77 | ||||||||||||
(a) These financial instruments do not have notional amounts. | ||||||||||||||||||
(b) See Note 8. | ||||||||||||||||||
(c) Principally comprises 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, 2015 and December 31, 2014 would have been reduced by $4,514 million and $5,020 million, respectively. | ||||||||||||||||||
(e) Net of reinsurance of none and $964 million at March 31, 2015 and December 31, 2014, respectively. | ||||||||||||||||||
Loan commitments | NOTIONAL AMOUNTS OF LOAN COMMITMENTS | |||||||||||||||||
(In millions) | 31-Mar-15 | 31-Dec-14 | ||||||||||||||||
Ordinary course of business lending commitments(a) | $ | 2,935 | $ | 3,239 | ||||||||||||||
Unused revolving credit lines(b) | ||||||||||||||||||
Commercial(c) | 12,987 | 14,681 | ||||||||||||||||
Consumer – principally credit cards | 309,688 | 306,188 | ||||||||||||||||
Excluded investment commitments of $742 million and $835 million at March 31, 2015 and December 31, 2014, respectively. | ||||||||||||||||||
Excluded amounts related to inventory financing arrangements, which may be withdrawn at our option, of $13,530 million and $15,041 million at March 31, 2015 and December 31, 2014, respectively. | ||||||||||||||||||
Included amounts related to commitments of $9,434 million and $10,509 million at March 31, 2015 and December 31, 2014, respectively, associated with secured financing arrangements that could have increased to a maximum of $11,656 million and $12,353 million at March 31, 2015 and December 31, 2014, respectively, based on asset volume under the arrangement. | ||||||||||||||||||
Fair value of derivatives by contract type | FAIR VALUE OF DERIVATIVES | |||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||
(In millions) | Assets | Liabilities | Assets | Liabilities | ||||||||||||||
Derivatives accounted for as hedges | ||||||||||||||||||
Interest rate contracts | $ | 6,106 | $ | 241 | $ | 5,859 | $ | 461 | ||||||||||
Currency exchange contracts | 3,353 | 1,627 | 2,579 | 884 | ||||||||||||||
Other contracts | - | 4 | - | 2 | ||||||||||||||
9,459 | 1,872 | 8,438 | 1,347 | |||||||||||||||
Derivatives not accounted for as hedges | ||||||||||||||||||
Interest rate contracts | 152 | 133 | 186 | 137 | ||||||||||||||
Currency exchange contracts | 1,693 | 4,822 | 1,212 | 3,450 | ||||||||||||||
Other contracts | 262 | 54 | 256 | 55 | ||||||||||||||
2,107 | 5,009 | 1,654 | 3,642 | |||||||||||||||
Gross derivatives recognized in statement of | ||||||||||||||||||
financial position | ||||||||||||||||||
Gross derivatives | 11,566 | 6,881 | 10,092 | 4,989 | ||||||||||||||
Gross accrued interest | 947 | -31 | 1,398 | -18 | ||||||||||||||
12,513 | 6,850 | 11,490 | 4,971 | |||||||||||||||
Amounts offset in statement of financial position | ||||||||||||||||||
Netting adjustments(a) | -5,223 | -5,229 | -3,896 | -3,905 | ||||||||||||||
Cash collateral(b) | -3,323 | -493 | -3,709 | -502 | ||||||||||||||
-8,546 | -5,722 | -7,605 | -4,407 | |||||||||||||||
Net derivatives recognized in statement of | ||||||||||||||||||
financial position | ||||||||||||||||||
Net derivatives | 3,967 | 1,128 | 3,885 | 564 | ||||||||||||||
Amounts not offset in statement of | ||||||||||||||||||
financial position | ||||||||||||||||||
Securities held as collateral(c) | -2,325 | - | -3,268 | - | ||||||||||||||
Net amount | $ | 1,642 | $ | 1,128 | $ | 617 | $ | 564 | ||||||||||
Derivatives are classified in the captions “All other assets” and “All other liabilities” and the related accrued interest is classified in “Other GECC receivables” and “All other liabilities” in our financial statements. | ||||||||||||||||||
The netting of derivative receivables and payables is permitted when a legally enforceable master netting agreement exists. Amounts include fair value adjustments related to our own and counterparty non-performance risk. At March 31, 2015 and December 31, 2014, the cumulative adjustment for non-performance risk was a gain (loss) of $6 million and $9 million, respectively. | ||||||||||||||||||
Excluded excess cash collateral received and posted of $157 million and $255 million at March 31, 2015, respectively, and $63 million and $211 million at December 31, 2014, respectively. | ||||||||||||||||||
Excluded excess securities collateral received of $196 million and $317 million at March 31, 2015 and December 31, 2014, respectively. | ||||||||||||||||||
Fair value hedges | EARNINGS EFFECTS OF FAIR VALUE HEDGING RELATIONSHIPS | |||||||||||||||||
Three months ended March 31 | ||||||||||||||||||
2015 | 2014 | |||||||||||||||||
Gain (loss) | Gain (loss) | Gain (loss) | Gain (loss) | |||||||||||||||
on hedging | on hedged | on hedging | on hedged | |||||||||||||||
(In millions) | derivatives | items | derivatives | items | ||||||||||||||
Interest rate contracts | $ | 1,060 | $ | -1,091 | $ | 990 | $ | -1,005 | ||||||||||
Currency exchange contracts | -7 | 6 | 2 | -3 | ||||||||||||||
Cash flow hedges | Gain (loss) reclassified | |||||||||||||||||
Gain (loss) recognized in AOCI | from AOCI into earnings | |||||||||||||||||
for the three months ended March 31 | for the three months ended March 31 | |||||||||||||||||
(In millions) | 2015 | 2014 | 2015 | 2014 | ||||||||||||||
Interest rate contracts | $ | -3 | $ | 3 | $ | -39 | $ | -69 | ||||||||||
Currency exchange contracts | -1,077 | 156 | -957 | 108 | ||||||||||||||
Commodity contracts | -3 | -2 | -1 | -2 | ||||||||||||||
Total(a) | $ | -1,083 | $ | 157 | $ | -997 | $ | 37 | ||||||||||
(a) Gain (loss) is recorded in GECC revenues from services, interest and other financial charges, and other costs and expenses when reclassified to earnings. | ||||||||||||||||||
Net investment hedges | GAINS (LOSSES) RECOGNIZED THROUGH CTA | |||||||||||||||||
Gain (loss) recognized in CTA | Gain (loss) reclassified from CTA | |||||||||||||||||
for the three months ended March 31 | for the three months ended March 31 | |||||||||||||||||
(In millions) | 2015 | 2014 | 2015 | 2014 | ||||||||||||||
Currency exchange contracts | $ | 4,989 | $ | -1,033 | $ | 785 | $ | 10 | ||||||||||
Variable_Interest_Entities_Tab
Variable Interest Entities (Tables) | 3 Months Ended | |||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||
Variable Interest Entities [Abstract] | ||||||||||||||||||
Schedule of VIE | ASSETS AND LIABILITIES OF CONSOLIDATED VIEs | |||||||||||||||||
Consolidated Securitization Entities | ||||||||||||||||||
Trade | ||||||||||||||||||
(In millions) | Trinity(a) | Credit cards | (b) | Equipment | (b) | receivables | Other | Total | ||||||||||
31-Mar-15 | ||||||||||||||||||
Assets(c) | ||||||||||||||||||
Financing receivables, net | $ | - | $ | 23,637 | $ | 13,388 | (e) | $ | - | $ | 2,842 | (e) | $ | 39,867 | ||||
Current receivables | - | - | - | 2,846 | (d) | 477 | 3,323 | |||||||||||
Investment securities | 2,291 | - | - | - | 999 | 3,290 | ||||||||||||
Other assets | 115 | 143 | 795 | 1 | 2,236 | 3,290 | ||||||||||||
Total | $ | 2,406 | $ | 23,780 | $ | 14,183 | $ | 2,847 | $ | 6,554 | $ | 49,770 | ||||||
Liabilities(c) | ||||||||||||||||||
Borrowings | $ | - | $ | - | $ | - | $ | - | $ | 673 | $ | 673 | ||||||
Non-recourse borrowings | - | 13,817 | 10,616 | 2,677 | 451 | 27,561 | ||||||||||||
Other liabilities | 1,020 | 312 | 453 | 29 | 1,567 | 3,381 | ||||||||||||
Total | $ | 1,020 | $ | 14,129 | $ | 11,069 | $ | 2,706 | $ | 2,691 | $ | 31,615 | ||||||
31-Dec-14 | ||||||||||||||||||
Assets(c) | ||||||||||||||||||
Financing receivables, net | $ | - | $ | 25,645 | $ | 12,843 | $ | - | $ | 3,064 | $ | 41,552 | ||||||
Current receivables | - | - | - | 3,028 | (d) | 509 | 3,537 | |||||||||||
Investment securities | 2,369 | - | - | - | 1,005 | 3,374 | ||||||||||||
Other assets | 17 | 1,059 | 766 | 2 | 2,814 | 4,658 | ||||||||||||
Total | $ | 2,386 | $ | 26,704 | $ | 13,609 | $ | 3,030 | $ | 7,392 | $ | 53,121 | ||||||
Liabilities(c) | ||||||||||||||||||
Borrowings | $ | - | $ | - | $ | - | $ | - | $ | 523 | $ | 523 | ||||||
Non-recourse borrowings | - | 14,967 | 10,359 | 2,692 | 646 | 28,664 | ||||||||||||
Other liabilities | 1,022 | 332 | 593 | 26 | 1,548 | 3,521 | ||||||||||||
Total | $ | 1,022 | $ | 15,299 | $ | 10,952 | $ | 2,718 | $ | 2,717 | $ | 32,708 | ||||||
Excluded intercompany advances from GECC to Trinity, which were eliminated in consolidation of $1,565 million and $1,565 million at March 31, 2015 and December 31, 2014, respectively. | ||||||||||||||||||
We provide servicing to the CSEs and are contractually permitted to commingle cash collected from customers on financing receivables sold to CSE investors with our own cash prior to payment to a CSE, provided our short-term credit rating does not fall below A-1/P-1. These CSEs also owe us amounts for purchased financial assets and scheduled interest and principal payments. At March 31, 2015 and December 31, 2014, the amounts of commingled cash owed to the CSEs were $2,702 million and $2,809 million, respectively, and the amounts owed to us by CSEs were $2,735 million and $2,913 million, respectively. | ||||||||||||||||||
Asset amounts exclude intercompany receivables for cash collected on behalf of the entities by GECC as servicer, which are eliminated in consolidation. Such receivables provide the cash to repay the entities’ liabilities. If these intercompany receivables were included in the table above, assets would be higher. In addition, other assets, borrowings and other liabilities exclude intercompany balances that are eliminated in consolidation. | ||||||||||||||||||
Included $659 million and $686 million of receivables at March 31, 2015 and December 31, 2014, respectively, originated by Appliances. We require third party debt holder consent to sell these assets. The receivables will be included in assets of businesses held for sale when the consent is received. | ||||||||||||||||||
Unconsolidated VIE | INVESTMENTS IN UNCONSOLIDATED VIEs | |||||||||||||||||
(In millions) | 31-Mar-15 | 31-Dec-14 | ||||||||||||||||
Other assets and investment securities | 827 | $ | 8,805 | |||||||||||||||
Financing receivables – net | 464 | 2,090 | ||||||||||||||||
Total investments | 1,291 | 10,895 | ||||||||||||||||
Contractual obligations to fund investments or guarantees | 1,862 | 2,201 | ||||||||||||||||
Revolving lines of credit | 108 | 168 | ||||||||||||||||
Total | $ | 3,261 | $ | 13,264 | ||||||||||||||
Investment of businesses held for sale(a) | 9,371 | - | ||||||||||||||||
Total | $ | 12,632 | $ | 13,264 | ||||||||||||||
We committed to sell certain businesses in connection with the GE Capital Exit Plan and reclassified amounts to assets of businesses held for sale. The balance at March 31, 2015 primarily relates to our $8,377 million investment in asset-backed securities issued by SSLP which was included in Financing receivables – net and Other assets and investment securities for the period ended December 31, 2014. |
Intercompany_Transactions_Tabl
Intercompany Transactions (Tables) | 3 Months Ended | |||||
Mar. 31, 2015 | ||||||
Intercompany Transactions [Abstract] | ||||||
Intercompany Transactions | Three months ended March 31 | |||||
(In millions) | 2015 | 2014 | ||||
Cash from (used for) operating activities-continuing operations | ||||||
Combined | $ | 3,814 | $ | 4,553 | ||
GE customer receivables sold to GECC | 1,308 | 731 | ||||
GECC dividends to GE | -450 | -500 | ||||
Other reclassifications and eliminations | 334 | -175 | ||||
$ | 5,006 | $ | 4,609 | |||
Cash from (used for) investing activities-continuing operations | ||||||
Combined | $ | 6,545 | $ | 3,769 | ||
GE customer receivables sold to GECC | -1,274 | -1,185 | ||||
Other reclassifications and eliminations | -551 | -545 | ||||
$ | 4,720 | $ | 2,039 | |||
Cash from (used for) financing activities-continuing operations | ||||||
Combined | $ | -8,615 | $ | -10,072 | ||
GE customer receivables sold to GECC | -34 | 454 | ||||
GECC dividends to GE | 450 | 500 | ||||
Other reclassifications and eliminations | 217 | 720 | ||||
$ | -7,982 | $ | -8,398 | |||
Supplemental_Information_About1
Supplemental Information About The Credit Quality Of Financing Receivables And Allowance For Losses (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Supplemental Information About Credit Quality Of Financing Receivables And Allowance For Losses On Financing Receivables [Line Items] | |||||||||||||||||||||
Nonaccrual Financing Receivables | PAST DUE AND NONACCRUAL FINANCING RECEIVABLES | ||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | ||||||||||||||||||||
Over 30 days | Over 90 days | Over 30 days | Over 90 days | ||||||||||||||||||
(In millions) | past due | past due | Nonaccrual | past due | past due | Nonaccrual | |||||||||||||||
Commercial | |||||||||||||||||||||
CLL | $ | 636 | $ | 137 | $ | 25 | $ | 1,986 | $ | 1,033 | $ | 2,000 | |||||||||
Energy Financial Services | 10 | - | 63 | - | - | 68 | |||||||||||||||
GECAS | - | - | 255 | - | - | 419 | |||||||||||||||
Total Commercial | 646 | 137 | 343 | (a) | 1,986 | 1,033 | 2,487 | (a) | |||||||||||||
Consumer | 2,209 | 1,056 | (b) | 2 | (c) | 5,137 | 2,495 | (b) | 1,484 | (c) | |||||||||||
Total | $ | 2,855 | $ | 1,193 | $ | 345 | $ | 7,123 | $ | 3,528 | $ | 3,971 | |||||||||
Total as a percent of financing receivables | 3.5 | % | 1.5 | % | 0.4 | % | 3.2 | % | 1.6 | % | 1.8 | % | |||||||||
(a) Included $321 million and $1,549 million at March 31, 2015 and December 31, 2014, respectively, which are currently paying in accordance with their contractual terms. | |||||||||||||||||||||
(b) Included $1,054 million and $1,231 million of Consumer loans at March 31, 2015 and December 31, 2014, respectively, which are over 90 days past due and continue to accrue interest until the accounts are written off in the period that the account becomes 180 days past due. | |||||||||||||||||||||
(c) Included none and $179 million at March 31, 2015 and December 31, 2014, respectively, which are currently paying in accordance with their contractual terms. | |||||||||||||||||||||
Impaired Loans | IMPAIRED LOANS AND RELATED RESERVES | ||||||||||||||||||||
With no specific allowance | With a specific allowance | ||||||||||||||||||||
Recorded | Unpaid | Average | Recorded | Unpaid | Average | ||||||||||||||||
investment | principal | investment | investment | principal | Associated | investment | |||||||||||||||
(In millions) | in loans | balance | in loans | in loans | balance | allowance(a) | in loans | ||||||||||||||
31-Mar-15 | |||||||||||||||||||||
Commercial | |||||||||||||||||||||
CLL | $ | 8 | $ | 8 | $ | 1,150 | $ | 6 | $ | 6 | $ | 5 | $ | 206 | |||||||
Energy Financial Services | 54 | 55 | 53 | 9 | 9 | - | 12 | ||||||||||||||
GECAS | 170 | 175 | 250 | - | - | - | - | ||||||||||||||
Other | - | - | - | - | - | - | - | ||||||||||||||
Total Commercial(b) | 232 | 238 | 1,453 | 15 | 15 | 5 | 218 | ||||||||||||||
Consumer(c) | - | - | 69 | 726 | 625 | (d) | 244 | 1,383 | |||||||||||||
Total | $ | 232 | $ | 238 | $ | 1,522 | $ | 741 | $ | 640 | $ | 249 | $ | 1,601 | |||||||
31-Dec-14 | |||||||||||||||||||||
Commercial | |||||||||||||||||||||
CLL | $ | 2,292 | $ | 4,397 | $ | 2,725 | $ | 406 | $ | 1,125 | $ | 133 | $ | 717 | |||||||
Energy Financial Services | 53 | 54 | 26 | 15 | 15 | 12 | 24 | ||||||||||||||
GECAS | 329 | 337 | 88 | - | - | - | 15 | ||||||||||||||
Other | - | - | - | - | - | - | 1 | ||||||||||||||
Total Commercial(b) | 2,674 | 4,788 | 2,839 | 421 | 1,140 | 145 | 757 | ||||||||||||||
Consumer(c) | 138 | 179 | 120 | 2,042 | 2,092 | 408 | 2,547 | ||||||||||||||
Total | $ | 2,812 | $ | 4,967 | $ | 2,959 | $ | 2,463 | $ | 3,232 | $ | 553 | $ | 3,304 | |||||||
(a) Write-offs to net realizable value are recognized against the allowance for losses primarily in the reporting period in which management has deemed all or a portion of the financing receivable to be uncollectible, but not later than 360 days after initial recognition of a specific reserve for a collateral dependent loan. | |||||||||||||||||||||
(b) We recognized $6 million, $178 million and $57 million of interest income, including none on a cash basis, in the three months ended March 31, 2015, the year ended December 31, 2014 and the three months ended March 31, 2014, respectively, principally in CLL. The total average investment in impaired loans for the three months ended March 31, 2015 and the year ended December 31, 2014 was $1,671 million and $3,596 million, respectively. | |||||||||||||||||||||
(c) We recognized $23 million, $126 million and $46 million of interest income, including $1 million, $5 million and an insignificant amount on a cash basis, in the three months ended March 31, 2015, the year ended December 31, 2014 and the three months ended March 31, 2014, respectively. The total average investment in impaired loans for the three months ended March 31, 2015 and the year ended December 31, 2014 was $1,452 million and $2,667 million, respectively. | |||||||||||||||||||||
(d) Unpaid principal balance excludes accrued interest and fees. | |||||||||||||||||||||
Financing Receivables And Allowance For Losses | (In millions) | Non-impaired financing receivables | General reserves | Impaired loans | Specific reserves | ||||||||||||||||
31-Mar-15 | |||||||||||||||||||||
Commercial | $ | 22,918 | $ | 89 | $ | 247 | $ | 5 | |||||||||||||
Consumer | 57,522 | 3,011 | 726 | 244 | |||||||||||||||||
Total | $ | 80,440 | $ | 3,100 | $ | 973 | $ | 249 | |||||||||||||
31-Dec-14 | |||||||||||||||||||||
Commercial | $ | 118,381 | $ | 758 | $ | 3,095 | $ | 145 | |||||||||||||
Consumer | 98,640 | 3,603 | 2,180 | 408 | |||||||||||||||||
Total | $ | 217,021 | $ | 4,361 | $ | 5,275 | $ | 553 | |||||||||||||
Schedule Of Impaired Loan Balance Classified To Measure Impairment | IMPAIRED LOAN BALANCE CLASSIFIED BY THE METHOD USED TO MEASURE IMPAIRMENT | ||||||||||||||||||||
(In millions) | 31-Mar-15 | 31-Dec-14 | |||||||||||||||||||
Discounted cash flow | $ | 834 | $ | 3,915 | |||||||||||||||||
Collateral value | 139 | 1,360 | |||||||||||||||||||
Total | $ | 973 | $ | 5,275 | |||||||||||||||||
Commercial Portfolio Segment [Member] | |||||||||||||||||||||
Supplemental Information About Credit Quality Of Financing Receivables And Allowance For Losses On Financing Receivables [Line Items] | |||||||||||||||||||||
Credit Quality Indicators | COMMERCIAL FINANCING RECEIVABLES BY RISK CATEGORY | ||||||||||||||||||||
Secured | |||||||||||||||||||||
(In millions) | A | B | C | Total | |||||||||||||||||
31-Mar-15 | |||||||||||||||||||||
CLL | $ | 12,131 | $ | 28 | $ | 42 | $ | 12,201 | |||||||||||||
Energy Financial Services | 2,378 | 171 | - | 2,549 | |||||||||||||||||
GECAS | 7,488 | 229 | 100 | 7,817 | |||||||||||||||||
Other | 127 | - | - | 127 | |||||||||||||||||
Total | $ | 22,124 | $ | 428 | $ | 142 | $ | 22,694 | |||||||||||||
31-Dec-14 | |||||||||||||||||||||
CLL | $ | 105,230 | $ | 2,023 | $ | 2,334 | $ | 109,587 | |||||||||||||
Energy Financial Services | 2,479 | 60 | 16 | 2,555 | |||||||||||||||||
GECAS | 7,908 | 237 | 118 | 8,263 | |||||||||||||||||
Other | 130 | - | - | 130 | |||||||||||||||||
Total | $ | 115,747 | $ | 2,320 | $ | 2,468 | $ | 120,535 | |||||||||||||
Consumer Portfolio Segment [Member] | |||||||||||||||||||||
Supplemental Information About Credit Quality Of Financing Receivables And Allowance For Losses On Financing Receivables [Line Items] | |||||||||||||||||||||
Credit Quality Indicators | Refreshed FICO score | ||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | ||||||||||||||||||||
661 or | 601 to | 600 or | 661 or | 601 to | 600 or | ||||||||||||||||
(in millions) | higher | 660 | less | higher | 660 | less | |||||||||||||||
U.S. installment and | |||||||||||||||||||||
revolving credit | $ | 40,761 | $ | 11,681 | $ | 4,486 | $ | 43,466 | $ | 11,865 | $ | 4,532 | |||||||||
Operating_Segment_Table_MDA_De
Operating Segment Table - MDA (Details) (USD $) | 3 Months Ended | |||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | ||
Segment Reporting Information [Line Items] | ||||
Revenues | $29,356 | $33,548 | ||
Interest and other financial charges | 1,930 | 2,141 | ||
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | -4,948 | 3,319 | ||
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | -2,202 | 252 | ||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | -13,608 | 2,952 | ||
Variance in interest and other financial charges | -7.00% | |||
Variance in provision for income taxes | 4.00% | |||
Variance segment profit favorable unfavorable | U | |||
Variance earnings loss continued operations fav unfav | U | |||
VarianceEarningsLossDiscontinuedOperationsFavUnfav | U | |||
GE Capital [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Variance segment profit favorable unfavorable | U | |||
GE | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 11,348 | [1] | 25,865 | [1] |
Interest and other financial charges | 389 | [1] | 365 | [1] |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | -11,191 | [1] | 3,007 | [1] |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | -2,202 | [1] | 252 | [1] |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | -13,699 | [1] | 2,941 | [1] |
Variance in revenues | -12.00% | |||
GE | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 30,342 | 34,434 | ||
Operating Income (Loss) | -8,984 | 4,972 | ||
Variance in revenues | -12.00% | |||
GE | Power And Water [Member] | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 5,716 | 5,509 | ||
Operating Income (Loss) | 871 | 888 | ||
Variance in revenues | 4.00% | |||
Variance in segment profit | -2.00% | |||
GE | Oil And Gas [Member] | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 3,961 | 4,308 | ||
Operating Income (Loss) | 432 | 446 | ||
Variance in revenues | -8.00% | |||
Variance in segment profit | -3.00% | |||
GE | Energy Management [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Variance segment profit favorable unfavorable | F | |||
GE | Energy Management [Member] | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 1,685 | 1,672 | ||
Operating Income (Loss) | 28 | 5 | ||
Variance in revenues | 1.00% | |||
GE | Aviation [Member] | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 5,674 | 5,778 | ||
Operating Income (Loss) | 1,314 | 1,115 | ||
Variance in revenues | -2.00% | |||
Variance in segment profit | 18.00% | |||
GE | Healthcare [Member] | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 4,075 | 4,198 | ||
Operating Income (Loss) | 587 | 570 | ||
Variance in revenues | -3.00% | |||
Variance in segment profit | 3.00% | |||
GE | Transportation [Member] | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 1,308 | 1,227 | ||
Operating Income (Loss) | 225 | 202 | ||
Variance in revenues | 7.00% | |||
Variance in segment profit | 11.00% | |||
GE | Appliances And Lighting [Member] | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 1,941 | 1,857 | ||
Operating Income (Loss) | 103 | 53 | ||
Variance in revenues | 5.00% | |||
Variance in segment profit | 94.00% | |||
GE | Industrial Segments [Member] | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 24,360 | 24,549 | ||
Operating Income (Loss) | 3,560 | 3,279 | ||
Variance in revenues | -1.00% | |||
Variance in segment profit | 9.00% | |||
GE | GE Capital [Member] | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 5,982 | 9,885 | ||
Operating Income (Loss) | -12,544 | 1,693 | ||
Variance in revenues | -39.00% | |||
GE | Corporate Items And Eliminations [Member] | Intersegment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | -986 | -886 | ||
Operating Income (Loss) | -1,692 | -1,542 | ||
Variance in revenues | -11.00% | |||
Variance in segment profit | -10.00% | |||
GECC | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 5,982 | 9,885 | ||
Interest and other financial charges | 1,651 | 1,887 | ||
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | -6,301 | 2,005 | ||
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | -2,201 | 252 | ||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ($14,654) | $1,956 | ||
[1] | Represents the adding together of all affiliated companies except General Electric Capital Corporation (GECC or Financial Services), which is presented on a one-line basis. See Note 1. | |||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Details) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 |
Accounting Policies [Abstract] | |
Business Disposition Charges After Tax | $16,118 |
Business Disposition Charges On Continuing Operation After Tax | 13,764 |
Business Disposition Charges On Continuing Operation Impairment In Value Of Asset After Tax | 4,962 |
Business Disposition Charges On Continuing Operation Business Held For Sale After Tax | 2,822 |
Business Disposition Charges On Discontinuing Operation After Tax | 2,354 |
Unconditional Guarantee On Principal And Interest | 210,107 |
Business Disposition Charges On Continuing Operation Repatriation Of Foreign Earnings After Tax | $5,980 |
Recovered_Sheet1
Businesses Held for Sale, Financing Receivables Held For Sale and Discontinued Operations (Assets and Liabilities of Businesses Held for Sale) (Details) (USD $) | 3 Months Ended | |||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | Sep. 30, 2014 |
Financial Information For Businesses Held For Sale [Line Items] | ||||
Proceeds from Divestiture of Businesses, Net of Cash Divested | $0 | $232 | ||
Preferred Stock, Value, Issued | 0 | 0 | ||
Investment securities (Note 3) | 41,992 | 47,558 | ||
Current receivables | 20,547 | 23,237 | ||
Assets of businesses held for sale | 31,261 | 36,795 | ||
Deferred income taxes | 2,901 | -1,353 | ||
Liabilities of businesses held for sale | 2,073 | 2,276 | ||
currency [Member] | ||||
Financial Information For Businesses Held For Sale [Line Items] | ||||
Cash and cash equivalents | 1,560 | 676 | ||
Investment securities (Note 3) | 7,720 | 448 | ||
Current receivables | 178 | 180 | ||
Inventories | 703 | 588 | ||
Loans and Finance Receivables | 31,318 | 2,144 | ||
Property, plant and equipment - net | 8,149 | 1,015 | ||
Goodwill | 5,406 | 539 | ||
Intangible Assets - Net | 310 | 170 | ||
Other | 3,050 | 540 | ||
Valuation allowance on disposal group | -1,845 | 0 | ||
Assets of businesses held for sale | 56,549 | 6,300 | ||
Short-term Borrowings | 840 | 441 | ||
Accounts Payable | 1,378 | 510 | ||
Other Current Liabilities | 1,233 | 348 | ||
Bank Deposits | 1,711 | 1,931 | ||
Long-term borrowings | 230 | 0 | ||
Deferred income taxes | 255 | -33 | ||
Other | 1,721 | 178 | ||
Liabilities of businesses held for sale | 7,368 | 3,375 | ||
Held for sale [Member] | Appliances | currency [Member] | ||||
Financial Information For Businesses Held For Sale [Line Items] | ||||
Consideration Received For Sale Of Business | 3,300 | |||
Assets of businesses held for sale | 2,704 | |||
Liabilities of businesses held for sale | 1,417 | |||
Held for sale [Member] | Hungary Bank [Member] | currency [Member] | ||||
Financial Information For Businesses Held For Sale [Line Items] | ||||
Assets of businesses held for sale | 3,107 | |||
Liabilities of businesses held for sale | 2,177 | |||
Held for sale [Member] | Signaling [Member] | currency [Member] | ||||
Financial Information For Businesses Held For Sale [Line Items] | ||||
Consideration Received For Sale Of Business | 800 | |||
Assets of businesses held for sale | 236 | |||
Liabilities of businesses held for sale | 130 | |||
Held for sale [Member] | CLL [Member] | currency [Member] | ||||
Financial Information For Businesses Held For Sale [Line Items] | ||||
Pre Tax Gain On Sale Of Business | -1,845 | |||
Gain On Sale Of Business Net Of Tax | -2,822 | |||
Assets of businesses held for sale | 44,398 | |||
Liabilities of businesses held for sale | 3,871 | |||
Held for sale [Member] | ANZ [Member] | currency [Member] | ||||
Financial Information For Businesses Held For Sale [Line Items] | ||||
Assets of businesses held for sale | 6,093 | |||
Liabilities of businesses held for sale | 286 | |||
Held for sale [Member] | ANZ [Member] | AUD [Member] | ||||
Financial Information For Businesses Held For Sale [Line Items] | ||||
Consideration Received For Sale Of Business | 6,800 | |||
Held for sale [Member] | ANZ [Member] | NZD [Member] | ||||
Financial Information For Businesses Held For Sale [Line Items] | ||||
Consideration Received For Sale Of Business | $1,400 |
Recovered_Sheet2
Businesses Held for Sale, Financing Receivables Held For Sale and Discontinued Operations (Financing Receivables Held for Sale (Details) (USD $) | 3 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Balance sheet [line items] | |||
Receivables Held For Sale Amount | $92,959 | $1,830 | |
Provision for losses on GECC financing receivables | 4,859 | 984 | |
Restructuring Charges | |||
Balance sheet [line items] | |||
Receivables Held For Sale Amount | 92,959 | 1,830 | |
CLL | Restructuring Charges | |||
Balance sheet [line items] | |||
Receivables Held For Sale Amount | 65,974 | 1,409 | |
Energy Financial Services | Restructuring Charges | |||
Balance sheet [line items] | |||
Receivables Held For Sale Amount | 0 | 35 | |
GE Capital Aviation Services (GECAS) | Restructuring Charges | |||
Balance sheet [line items] | |||
Receivables Held For Sale Amount | 259 | 27 | |
Total Commercial | Restructuring Charges | |||
Balance sheet [line items] | |||
Receivables Held For Sale Amount | 66,233 | 1,471 | |
Consumer | Restructuring Charges | |||
Balance sheet [line items] | |||
Receivables Held For Sale Amount | 26,726 | 359 | |
GECC | |||
Balance sheet [line items] | |||
Receivables Held For Sale Amount | 92,959 | 1,830 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | 345 | 3,971 | |
Over 30 days past due | 2,855 | 7,123 | |
Provision for losses on GECC financing receivables | 4,859 | 984 | |
GECC | Restructuring Charges | |||
Balance sheet [line items] | |||
Allowance for loans losses write offs | 5,072 | ||
Provision for losses net of tax | 3,341 | ||
Provision for losses before tax | 3,955 | ||
GECC | CLL | |||
Balance sheet [line items] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 25 | 2,000 | |
Over 30 days past due | 636 | 1,986 | |
GECC | Energy Financial Services | |||
Balance sheet [line items] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 63 | 68 | |
Over 30 days past due | 10 | 0 | |
GECC | GE Capital Aviation Services (GECAS) | |||
Balance sheet [line items] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 255 | 419 | |
Over 30 days past due | 0 | 0 | |
GECC | Total Commercial | Restructuring Charges | |||
Balance sheet [line items] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,401 | ||
Over 30 days past due | 993 | ||
GECC | Consumer | |||
Balance sheet [line items] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2 | 1,484 | |
Over 30 days past due | 2,209 | 5,137 | |
GECC | Consumer | Restructuring Charges | |||
Balance sheet [line items] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,109 | ||
Over 30 days past due | $1,757 |
Businesses_Held_for_Sale_Finan2
Businesses Held for Sale, Financing Receivables Held For Sale and Discontinued Operations (Discontinued Operations) (Details) (USD $) | 3 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Operations | |||
Provision for Loan and Lease Losses | $4,859 | $984 | |
Disposal | |||
Earnings (loss) from discontinued operations, net of taxes(a) | -2,202 | 252 | |
Assets | |||
Assets of discontinued operations | 31,261 | 36,795 | |
Liabilities | |||
Liabilities of discontinued operations | 2,073 | 2,276 | |
Discontinued Operations [Member] | |||
Operations | |||
Total revenues and other income (loss) | 499 | 660 | |
Earnings (loss) from discontinued operations before income taxes | 30 | 123 | |
Benefit (provision) for income taxes | 122 | 110 | |
Income (Loss) from Discontinued Operations, Net of Taxes | 152 | 233 | |
Disposal | |||
Gain (loss) on disposal before income taxes | -1,808 | 18 | |
Benefit (provision) for income taxes | -546 | 1 | |
Gain (loss) on disposal, net of taxes | -2,354 | 19 | |
Earnings (loss) from discontinued operations, net of taxes(a) | -2,202 | 252 | |
Assets | |||
Cash and cash equivalents | 259 | 320 | |
Investment securities | 799 | 848 | |
Financing Receivables - net | 19,348 | 19,636 | |
Other Receivables | 420 | 422 | |
Property, plant and equipment - net | 137 | 141 | |
Goodwill | 440 | 537 | |
Intangible Assets - Net | 93 | 109 | |
Deferred income taxes | 1,425 | 1,755 | |
Other | 10,148 | 13,027 | |
Assets of discontinued operations | 31,261 | 36,795 | |
Valuation allowance on disposal group | -1,808 | 0 | |
Liabilities | |||
Short-term Borrowings | 20 | 273 | |
Other Current Liabilities | 111 | 28 | |
Accounts Payable | 465 | 549 | |
Long-term borrowings | 188 | 234 | |
Deferred income taxes | 183 | 237 | |
Other | 1,106 | 955 | |
Liabilities of discontinued operations | 2,073 | 2,276 | |
GECC | |||
Operations | |||
Provision for Loan and Lease Losses | 4,859 | 984 | |
Disposal | |||
Earnings (loss) from discontinued operations, net of taxes(a) | -2,201 | 252 | |
Assets | |||
Assets of discontinued operations | 31,252 | 36,785 | |
Liabilities | |||
Liabilities of discontinued operations | 1,951 | 2,139 | |
GECC | GECC Real Estate Properties [Member] | |||
Operations | |||
Total revenues and other income (loss) | 499 | 630 | |
Interest | -237 | -273 | |
Operating and administrative | -164 | -149 | |
Depreciation and amortization | -60 | -86 | |
Provision for Loan and Lease Losses | 4 | 15 | |
Earnings (loss) from discontinued operations before income taxes | 42 | 137 | |
Benefit (provision) for income taxes | 30 | 103 | |
Income (Loss) from Discontinued Operations, Net of Taxes | 72 | 240 | |
Disposal | |||
Gain (loss) on disposal before income taxes | -1,808 | 0 | |
Benefit (provision) for income taxes | -546 | 0 | |
Gain (loss) on disposal, net of taxes | -2,354 | 0 | |
Earnings (loss) from discontinued operations, net of taxes(a) | -2,282 | 240 | |
GECC | GECC Real Estate Properties [Member] | Discontinued Operations [Member] | |||
Operations | |||
Earnings (loss) from discontinued operations before income taxes | ($1,765) | $138 |
Businesses_Held_for_Sale_Finan3
Businesses Held for Sale, Financing Receivables Held For Sale and Discontinued Operations (WMC) (Details) (USD $) | 3 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Lawsuits | |||
Financial Information For Businesses Held For Sale [Line Items] | |||
(Earnings) loss from discontinued operations, net of taxes | ($2,202) | $252 | |
WMC Discontinued Operations [Member] | |||
Financial Information For Businesses Held For Sale [Line Items] | |||
Adjustment For Pending Claims For Unmet Representations And Warranties | 5 | ||
Lawsuit Relating To Representations And Warranties Amount Of Mortgages | 12,671 | ||
Number Of Securitizations Related To Lawsuits Involving repurchase Claims On Loans In Which Adverse Parties Are Securitization Trustees | 14 | ||
Revenues from discontinued operations | 0 | 4 | |
(Earnings) loss from discontinued operations, net of taxes | -6 | -2 | |
Number Of Lawsuits Involving Repurchase Claims On Loans | 15 | ||
WMC Discontinued Operations [Member] | Minimum [Member] | |||
Financial Information For Businesses Held For Sale [Line Items] | |||
Increase To Reserve For Claims For Unmet Representations And Warranties For Adverse Effect In Assumptions | 0 | ||
WMC Discontinued Operations [Member] | Maximum [Member] | |||
Financial Information For Businesses Held For Sale [Line Items] | |||
Increase To Reserve For Claims For Unmet Representations And Warranties For Adverse Effect In Assumptions | $500 |
Businesses_Held_for_Sale_Finan4
Businesses Held for Sale, Financing Receivables Held For Sale and Discontinued Operations (Rollforward of the Reserve) (Details) (WMC Discontinued Operations [Member], USD $) | 3 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
WMC Discontinued Operations [Member] | |||
Financial Information For Discontinued Operations [Line Items] | |||
Reserve, beginning of period | $809 | $800 | $800 |
Provision | 7 | 0 | |
Claim resolutions | -2 | -250 | |
Reserve, end of period | 814 | 550 | 809 |
Pending claims, beginning of period | 3,694 | ||
New claims | 8,982 | 9,225 | |
Pending claims, end of period | 3,689 | 3,694 | |
Claims Relating To Alleged Breaches Of Representations That Are Beyond Applicable Statute Of Llimitations | $429 |
Businesses_Held_for_Sale_Finan5
Businesses Held for Sale, Financing Receivables Held For Sale and Discontinued Operations (Other) (Details) (USD $) | 3 Months Ended | |||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | ||
Financial Information For Businesses Held For Sale [Line Items] | ||||
Losses from discontinued operations, net of tax | ($2,202) | $252 | ||
(Earnings) loss from discontinued operations, net of taxes | -2,202 | 252 | ||
Segment Discontinued Operations Member | ||||
Financial Information For Businesses Held For Sale [Line Items] | ||||
Gain (loss) on disposal of discontinued operations | -2,354 | 19 | ||
Losses from discontinued operations, net of tax | -2,202 | 252 | ||
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax | -1,808 | 18 | ||
GECC | ||||
Financial Information For Businesses Held For Sale [Line Items] | ||||
Losses from discontinued operations, net of tax | -2,201 | 252 | ||
(Earnings) loss from discontinued operations, net of taxes | -2,201 | 252 | ||
GE | ||||
Financial Information For Businesses Held For Sale [Line Items] | ||||
Losses from discontinued operations, net of tax | -2,202 | [1] | 252 | [1] |
(Earnings) loss from discontinued operations, net of taxes | ($2,202) | [1] | $252 | [1] |
[1] | Represents the adding together of all affiliated companies except General Electric Capital Corporation (GECC or Financial Services), which is presented on a one-line basis. See Note 1. | |||
Investment_Securities_Investme
Investment Securities (Investment) (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | $36,330 | $42,571 |
Gross unrealized gains | 5,797 | 5,309 |
Gross unrealized losses | -135 | -322 |
Investments | 41,992 | 47,558 |
Eliminations | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | -4 | -4 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | 0 | 0 |
Estimated fair value | -4 | -4 |
U.S. Government and federal agency | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated fair value | 41,992 | 47,558 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Investments | 34 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Investments | 1,191 | |
GE | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 92 | 82 |
Gross unrealized gains | 55 | 4 |
Gross unrealized losses | -4 | -2 |
Estimated fair value | 143 | 84 |
Investments | 143 | 84 |
GE | US Corporate | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 14 | 12 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | 0 | 0 |
Estimated fair value | 14 | 12 |
GE | Corporate - non-U.S. | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 1 | 1 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | 0 | 0 |
Estimated fair value | 1 | 1 |
GE | Available-for-sale Securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 77 | 69 |
Gross unrealized gains | 55 | 4 |
Gross unrealized losses | -4 | -2 |
Estimated fair value | 128 | 71 |
GE | Trading Securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 0 | 0 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | 0 | 0 |
Estimated fair value | 0 | 0 |
GECC | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 36,242 | 42,493 |
Gross unrealized gains | 5,742 | 5,305 |
Gross unrealized losses | -131 | -320 |
Estimated fair value | 41,853 | 47,478 |
Investments | 41,853 | 47,478 |
GECC | US Corporate | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 20,015 | 19,889 |
Gross unrealized gains | 4,322 | 3,967 |
Gross unrealized losses | -52 | -69 |
Estimated fair value | 24,285 | 23,787 |
GECC | State and municipal | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 4,967 | 5,181 |
Gross unrealized gains | 667 | 624 |
Gross unrealized losses | -50 | -56 |
Estimated fair value | 5,584 | 5,749 |
GECC | Residential Mortgage Backed Securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 1,129 | 1,578 |
Gross unrealized gains | 100 | 153 |
Gross unrealized losses | -4 | -6 |
Estimated fair value | 1,225 | 1,725 |
GECC | Commercial mortgage backed | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 2,421 | 2,903 |
Gross unrealized gains | 181 | 170 |
Gross unrealized losses | -5 | -10 |
Estimated fair value | 2,597 | 3,063 |
GECC | Asset-backed | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 301 | 8,084 |
Gross unrealized gains | 11 | 9 |
Gross unrealized losses | -17 | -175 |
Estimated fair value | 295 | 7,918 |
GECC | Corporate - non-U.S. | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 914 | 1,021 |
Gross unrealized gains | 137 | 115 |
Gross unrealized losses | -1 | -1 |
Estimated fair value | 1,050 | 1,135 |
GECC | Government - non-U.S. | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 1,287 | 1,646 |
Gross unrealized gains | 182 | 152 |
Gross unrealized losses | -1 | -2 |
Estimated fair value | 1,468 | 1,796 |
GECC | U.S. Government and federal agency | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 5,029 | 1,957 |
Gross unrealized gains | 86 | 56 |
Gross unrealized losses | 0 | 0 |
Estimated fair value | 5,115 | 2,013 |
GECC | Retained interest | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 16 | 16 |
Gross unrealized gains | 1 | 1 |
Gross unrealized losses | 0 | 0 |
Estimated fair value | 17 | 17 |
GECC | Available-for-sale Securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 144 | 197 |
Gross unrealized gains | 55 | 58 |
Gross unrealized losses | -1 | -1 |
Estimated fair value | 198 | 254 |
GECC | Trading Securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 19 | 21 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | 0 | 0 |
Estimated fair value | $19 | $21 |
Investment_Securities_Investme1
Investment Securities (Investments, by type and length in continuous loss position) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | |||
Estimated fair value, less than 12 months | $3,255 | $9,765 | |
Gross unrealized losses, less than 12 months | -32 | -182 | |
Estimated fair value, 12 months or more | 701 | 1,642 | |
Gross unrealized losses, 12 months or more | -103 | -140 | |
Percent of Gross unrealized losses, 12 months or more, considered investment grade | 70.00% | ||
OTTI Previously Recognized Through OCI On Securities Held, Gross Unrealized Losses | 0 | ||
Incremental credit loss impairments recognized on securities previously impaired | 0 | 1 | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Additions, No Previous Impairment | 0 | 0 | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Reductions, Securities Sold | -4 | -51 | |
US Corporate | |||
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | |||
Estimated fair value, less than 12 months | 820 | 554 | |
Gross unrealized losses, less than 12 months | -22 | -16 | |
Estimated fair value, 12 months or more | 295 | 836 | |
Gross unrealized losses, 12 months or more | -30 | -53 | |
State and municipal | |||
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | |||
Estimated fair value, less than 12 months | 206 | 81 | |
Gross unrealized losses, less than 12 months | -2 | -1 | |
Estimated fair value, 12 months or more | 203 | 348 | |
Gross unrealized losses, 12 months or more | -48 | -55 | |
Residential Mortgage Backed Securities | |||
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | |||
Estimated fair value, less than 12 months | 127 | 30 | |
Gross unrealized losses, less than 12 months | -1 | 0 | |
Estimated fair value, 12 months or more | 97 | 159 | |
Gross unrealized losses, 12 months or more | -3 | -6 | |
Mortgage-backed Securities, Residential, Subprime, Financing Receivable [Member] | |||
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | |||
Debt securities, Estimated fair value | 65 | ||
Commercial mortgage backed | |||
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | |||
Estimated fair value, less than 12 months | 101 | 165 | |
Gross unrealized losses, less than 12 months | 0 | -1 | |
Estimated fair value, 12 months or more | 26 | 204 | |
Gross unrealized losses, 12 months or more | -5 | -9 | |
Asset-backed | |||
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | |||
Estimated fair value, less than 12 months | 58 | 7,493 | |
Gross unrealized losses, less than 12 months | 0 | -158 | |
Estimated fair value, 12 months or more | 77 | 77 | |
Gross unrealized losses, 12 months or more | -17 | -17 | |
Corporate - non-U.S. | |||
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | |||
Estimated fair value, less than 12 months | 27 | 42 | |
Gross unrealized losses, less than 12 months | -1 | -1 | |
Estimated fair value, 12 months or more | 2 | 3 | |
Gross unrealized losses, 12 months or more | 0 | 0 | |
Government - non-U.S. | |||
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | |||
Estimated fair value, less than 12 months | 403 | 677 | |
Gross unrealized losses, less than 12 months | -1 | -2 | |
Estimated fair value, 12 months or more | 0 | 14 | |
Gross unrealized losses, 12 months or more | 0 | 0 | |
U.S. Government and federal agency | |||
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | |||
Estimated fair value, less than 12 months | 1,497 | 705 | |
Gross unrealized losses, less than 12 months | 0 | 0 | |
Estimated fair value, 12 months or more | 1 | 1 | |
Gross unrealized losses, 12 months or more | 0 | 0 | |
Retained interest | |||
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | |||
Estimated fair value, less than 12 months | 0 | 0 | |
Gross unrealized losses, less than 12 months | 0 | 0 | |
Estimated fair value, 12 months or more | 0 | 0 | |
Gross unrealized losses, 12 months or more | 0 | 0 | |
Equity Securities | |||
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | |||
Estimated fair value, less than 12 months | 16 | 18 | |
Gross unrealized losses, less than 12 months | -5 | -3 | |
Estimated fair value, 12 months or more | 0 | 0 | |
Gross unrealized losses, 12 months or more | 0 | 0 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | |||
Debt securities, Estimated fair value | 1,191 | ||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | |||
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | |||
Debt securities, Estimated fair value | 34 | ||
GECC | Equity Securities | |||
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | |||
Estimated fair value, less than 12 months | 5 | 4 | |
Gross unrealized losses, less than 12 months | ($4) | ($2) |
Investment_Securities_Impairme
Investment Securities (Impairments) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Pre-tax, Other-Than-Temporary Impairments on Investment Securities | ||
Total pre tax, OTTI recognized | $3 | $10 |
Less: pre-tax, OTTI recognized in AOCI | 0 | -4 |
Pre-tax, OTTI recognized in earnings | 3 | 6 |
Other Than Temporary Impairment Related To Equity Securities | $0 | $1 |
Investment_Securities_Changes_
Investment Securities (Changes in Cumulative Credit Loss Impairments) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Changes in Cumulative Credit Loss Impairments Recognized on Debt Securities | ||
Cumulative credit loss impairments recognized, beginning of period | $725 | $1,021 |
Credit loss impairments recognized on securities not previously impaired | 0 | 0 |
Incremental credit loss impairments recognized on securities previously impaired | 0 | 1 |
Less: credit loss impairments previously recognized on securities sold during the period | 4 | 51 |
Cumulative credit loss impairments recognized, end of period | $721 | $971 |
Investment_Securities_Contract
Investment Securities (Contractual maturities) (Details) (USD $) | Mar. 31, 2015 |
In Millions, unless otherwise specified | |
Amortized cost | |
Within one year | $4,722 |
After one year through five years | 3,706 |
After five years through ten years | 5,146 |
After ten years | 18,653 |
Estimated fair value | |
Within one year | 4,735 |
After one year through five years | 3,967 |
After five years through ten years | 5,634 |
After ten years | $23,181 |
Investment_Securities_Gross_Re
Investment Securities (Gross Realized Gain Losses) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Total | $83 | $6 |
Available-for-sale Securities, Gross Realized Gains (Losses), Sale Proceeds | 3,561 | 1,327 |
Net pre-tax gains (loss) on trading securities | -2 | -5 |
Subsidiaries [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gains | 0 | 0 |
Losses, including impairments | 0 | 0 |
Total | 0 | 0 |
Subsidiaries GECC [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gains | 97 | 13 |
Losses, including impairments | -14 | -7 |
Total | 83 | 6 |
Subsidiaries GECC [Member] | Trinity [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gains | $1,627 |
Inventories_Details
Inventories (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Inventory | ||
Total | $17,830 | $17,689 |
GE | ||
Inventory | ||
Raw materials and work in process | 9,896 | 9,820 |
Finished goods | 7,314 | 7,126 |
Unbilled shipments | 614 | 755 |
Inventory, Gross, Total | 17,824 | 17,701 |
Less revaluation to LIFO | -43 | -62 |
Total | 17,781 | 17,639 |
GECC | ||
Inventory | ||
Finished goods | 49 | 50 |
Total | $49 | $50 |
GECC_Financing_Receivables_and2
GECC Financing Receivables and Allowance for Losses on Financing Receivables (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | ||
In Millions, unless otherwise specified | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing receivables, net | $68,040 | $205,180 | ||||
Assets | 617,631 | [1] | 646,997 | [1] | ||
GECC | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Net of Deferred Income | 81,413 | 222,296 | ||||
Less allowance for losses | -3,349 | -4,914 | -4,969 | -4,986 | ||
Financing receivables, net | 78,064 | 217,382 | ||||
Assets | 476,460 | 501,405 | ||||
GECC | Held for sale [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing receivables, net | 93,141 | |||||
Assets | 29,952 | |||||
GECC | Loans and Finance Receivables | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Net of Deferred Income | 76,066 | 197,949 | ||||
GECC | Financing Receivable | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Net of Deferred Income | 5,347 | 24,347 | ||||
Loans that have been acquired in a transfer but have been subject to credit deterioration since origination per ASC 310, Receivables | 0 | 209 | ||||
GECC | Financing Receivable | Held for sale [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing receivables, net | 93,141 | |||||
Assets | $29,952 | |||||
[1] | (a) Our consolidated assets at March 31, 2015 included total assets of $48,076million of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs. These assets included net financing receivables of $27,831 million, financing receivables held for sale of $14,171 million and investment securities of $3,290 million. Our consolidated liabilities at March 31, 2015 included liabilities of certain VIEs for which the VIE creditors do not have recourse to GE. These liabilities included non-recourse borrowings of consolidated securitization entities (CSEs) of $27,561 million. See Note 16. |
GECC_Financing_Receivables_and3
GECC Financing Receivables and Allowance for Losses on Financing Receivables (Net Investment in Financing Leases) (Details) (GECC, USD $) | 3 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Financing Leases [Abstract] | ||
Loans and leases receivable, Gross | $81,413 | $222,296 |
Initial direct costs on direct financing leases | 284 | 317 |
Pre-tax income | 112 | 31 |
Income tax | 43 | 11 |
Financing Receivable | ||
Financing Leases [Abstract] | ||
Loans and leases receivable, Gross | $5,347 | $24,347 |
GECC_Financing_Receivables_and4
GECC Financing Receivables and Allowance for Losses on Financing Receivables (Financing Receivables by Portfolio) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing receivables - net (Note 5 and 18) | $68,040 | $205,180 | ||
GECC | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Net of Deferred Income | 81,413 | 222,296 | ||
Less allowance for losses | -3,349 | -4,914 | -4,969 | -4,986 |
Financing receivables - net (Note 5 and 18) | 78,064 | 217,382 | ||
GECC | CLL | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Net of Deferred Income | 12,555 | 110,503 | ||
Less allowance for losses | -35 | -831 | -868 | -978 |
GECC | GE Capital Aviation Services (GECAS) | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Net of Deferred Income | 7,817 | 8,263 | ||
Less allowance for losses | -42 | -46 | -25 | -17 |
GECC | Energy Financial Services | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Net of Deferred Income | 2,666 | 2,580 | ||
Less allowance for losses | -17 | -26 | -16 | -8 |
GECC | Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Net of Deferred Income | 23,165 | 121,476 | ||
Less allowance for losses | -94 | -903 | -909 | -1,005 |
GECC | Consumer | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Net of Deferred Income | 58,248 | 100,820 | ||
Less allowance for losses | -3,255 | -4,011 | -4,060 | -3,981 |
GECC | Other Commercial Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Less allowance for losses | ($127) | ($130) |
GECC_Financing_Receivables_and5
GECC Financing Receivables and Allowance for Losses on Financing Receivables (Allowance for Losses on Financing Receivables) (Details) (GECC, USD $) | 3 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning Balance | $4,914 | $4,986 | $4,986 |
Provision charged | 4,859 | 984 | 984 |
Other | -525 | 16 | 16 |
Gross write-offs | -6,245 | -1,341 | -1,341 |
Recoveries | 346 | 324 | 324 |
Ending Balance | 3,349 | 4,969 | 4,914 |
Restructuring Charges | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Provision charged | 3,955 | ||
Gross write-offs | 5,072 | ||
CLL | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning Balance | 831 | 978 | 978 |
Provision charged | 1,749 | 102 | |
Other | -250 | 1 | |
Gross write-offs | -2,345 | -256 | |
Recoveries | 50 | 43 | |
Ending Balance | 35 | 868 | |
Energy Financial Services | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning Balance | 26 | 8 | 8 |
Provision charged | 7 | 9 | |
Other | -1 | 0 | |
Gross write-offs | -15 | -2 | |
Recoveries | 0 | 1 | |
Ending Balance | 17 | 16 | |
GE Capital Aviation Services (GECAS) | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning Balance | 46 | 17 | 17 |
Provision charged | -4 | 8 | |
Other | 0 | 0 | |
Gross write-offs | 0 | 0 | |
Recoveries | 0 | 0 | |
Ending Balance | 42 | 25 | |
Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning Balance | 0 | 2 | 2 |
Provision charged | 0 | -1 | |
Other | 0 | -1 | |
Gross write-offs | 0 | 0 | |
Recoveries | 0 | 0 | |
Ending Balance | 0 | ||
Commercial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning Balance | 903 | 1,005 | 1,005 |
Provision charged | 1,752 | 118 | |
Other | -251 | 0 | |
Gross write-offs | -2,360 | -258 | |
Recoveries | 50 | 44 | |
Ending Balance | 94 | 909 | |
Consumer | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning Balance | 4,011 | 3,981 | 3,981 |
Provision charged | 3,107 | 866 | |
Other | -274 | 16 | |
Gross write-offs | -3,885 | -1,083 | |
Recoveries | 296 | 280 | |
Ending Balance | $3,255 | $4,060 |
Property_Plant_and_Equipment_D
Property, Plant and Equipment (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Property, Plant and Equipment | ||
Original cost | $102,637 | $113,124 |
Property, Plant and Equipment, Net | 61,219 | 66,246 |
Equipment Leased to Other Party [Member] | ||
Property, Plant and Equipment | ||
Original cost | 0 | |
Subsidiaries [Member] | ||
Property, Plant and Equipment | ||
Property, Plant and Equipment, Net | 16,516 | 17,207 |
Subsidiaries GECC [Member] | ||
Property, Plant and Equipment | ||
Property, Plant and Equipment, Net | $45,130 | $49,429 |
Property_Plant_and_Equipment_N
Property, Plant and Equipment (Narratives) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Property, Plant and Equipment | |||
Original cost | $102,637 | $113,124 | |
Accumulated depreciation and amortization | -41,418 | -46,878 | |
Depreciation and amortization | 2,466 | 2,189 | |
Property, Plant and Equipment, Net | 61,219 | 66,246 | |
Subsidiaries GECC [Member] | |||
Property, Plant and Equipment | |||
Impairment of Long-Lived Assets Held-for-use | 0 | ||
Property, Plant and Equipment, Net | 45,130 | 49,429 | |
Equipment Leased to Other Party [Member] | |||
Property, Plant and Equipment | |||
Original cost | 0 | ||
Accumulated depreciation and amortization | $0 |
Acquisitions_Goodwill_and_Othe2
Acquisitions, Goodwill and Other Intangible Assets (Goodwill) (Details) | 3 Months Ended | 12 Months Ended | 1 Months Ended | ||||||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Jun. 20, 2014 | Feb. 13, 2015 | Jan. 30, 2015 |
USD ($) | USD ($) | USD ($) | CLL [Member] | ANZ Consumer Lending | Acquisition Alstom | Acquisition Alstom | Acquisition Milestone Aviation Group | Acquisition Milestone Aviation Group | |
USD ($) | USD ($) | EUR (€) | EUR (€) | USD ($) | USD ($) | ||||
Goodwill [Line Items] | |||||||||
Goodwill (Note 7) | $69,604 | $76,016 | $13,058 | $9,777 | $750 | ||||
Payments to Acquire Businesses, Net of Cash Acquired | 1,723 | 1,454 | 1,750 | ||||||
Increase (Decrease) in Intangible Assets, Current | 644 | 157 | |||||||
Intangible assets subject to amortization | 13,408 | 13,917 | 300 | ||||||
Indefinite-lived intangible assets | 125 | 130 | |||||||
Total | 13,533 | 14,047 | |||||||
Dispositions, currency exchange and other | -7,195 | ||||||||
Implied Fair Value Of Goodwill Exceeding Carrying Value Of Goodwill | 4,457 | 410 | |||||||
Estimated Purchase Price to Aquire Business, Net of Cash Acquired | 12,350 | ||||||||
Anticipated Third Party Investment In Joint Venture | 2,600 | ||||||||
Goodwill, Acquired During Period | 783 | ||||||||
Goodwill, period increase (decrease) | 6,412 | ||||||||
Business Combination Separately Recognized Transactions Additional Disclosures Acquisition Costs | € 260 |
Acquisitions_Goodwill_and_Othe3
Acquisitions, Goodwill and Other Intangible Assets (Goodwill Rollforward) (Details) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 |
Goodwill [Line Items] | |
Goodwill, Beginning Balance | $76,016 |
Acquisitions | 783 |
Dispositions, currency exchange and other | -7,195 |
Goodwill, Ending Balance | 69,604 |
Power And Water [Member] | |
Goodwill [Line Items] | |
Goodwill, Beginning Balance | 8,754 |
Acquisitions | 31 |
Dispositions, currency exchange and other | -169 |
Goodwill, Ending Balance | 8,616 |
Oil And Gas [Member] | |
Goodwill [Line Items] | |
Goodwill, Beginning Balance | 10,572 |
Acquisitions | 0 |
Dispositions, currency exchange and other | -337 |
Goodwill, Ending Balance | 10,235 |
Energy Management [Member] | |
Goodwill [Line Items] | |
Goodwill, Beginning Balance | 4,570 |
Acquisitions | 0 |
Dispositions, currency exchange and other | -426 |
Goodwill, Ending Balance | 4,144 |
Aviation [Member] | |
Goodwill [Line Items] | |
Goodwill, Beginning Balance | 8,952 |
Acquisitions | 0 |
Dispositions, currency exchange and other | -489 |
Goodwill, Ending Balance | 8,463 |
Healthcare [Member] | |
Goodwill [Line Items] | |
Goodwill, Beginning Balance | 17,532 |
Acquisitions | 0 |
Dispositions, currency exchange and other | -137 |
Goodwill, Ending Balance | 17,395 |
Transportation [Member] | |
Goodwill [Line Items] | |
Goodwill, Beginning Balance | 887 |
Acquisitions | 0 |
Dispositions, currency exchange and other | -21 |
Goodwill, Ending Balance | 866 |
Appliances And Lighting [Member] | |
Goodwill [Line Items] | |
Goodwill, Beginning Balance | 226 |
Acquisitions | 0 |
Dispositions, currency exchange and other | -14 |
Goodwill, Ending Balance | 212 |
GE Capital [Member] | |
Goodwill [Line Items] | |
Goodwill, Beginning Balance | 24,489 |
Acquisitions | 752 |
Dispositions, currency exchange and other | -5,602 |
Goodwill, Ending Balance | 19,639 |
Corporate [Member] | |
Goodwill [Line Items] | |
Goodwill, Beginning Balance | 34 |
Acquisitions | 0 |
Dispositions, currency exchange and other | 0 |
Goodwill, Ending Balance | $34 |
Acquisitions_Goodwill_and_Othe4
Acquisitions, Goodwill and Other Intangible Assets (Other Intangible Assets, Net) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Acquisitions, Goodwill and Intangible Assets Disclosure [Abstract] | ||
Intangible assets subject to amortization | $13,408 | $13,917 |
Indefinite-lived intangible assets | 125 | 130 |
Total | $13,533 | $14,047 |
Acquisitions_Goodwill_and_Othe5
Acquisitions, Goodwill and Other Intangible Assets (Intangible Assets Subject to Amortization) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Finite-Lived Intangible Assets [Line Items] | |||
Gross carrying amount | $25,213 | $25,857 | |
Accumulated amortization | -11,805 | -11,940 | |
Net | 13,408 | 13,917 | |
Intangible Assets, Net (Excluding Goodwill) | 13,533 | 14,047 | |
Increase (Decrease) in Intangible Assets, Current | 644 | 157 | |
Amortization expense | 490 | 406 | |
Adjustments related to Present Value of Future Profits | 287 | 293 | |
Customer Relationships [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross carrying amount | 8,254 | 8,483 | |
Accumulated amortization | -2,553 | -2,616 | |
Net | 5,701 | 5,867 | |
Patents And Technology [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross carrying amount | 6,421 | 6,772 | |
Accumulated amortization | -2,989 | -2,977 | |
Net | 3,432 | 3,795 | |
Capitalized software[Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross carrying amount | 7,832 | 8,229 | |
Accumulated amortization | -4,745 | -4,944 | |
Net | 3,087 | 3,285 | |
Trademarks [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross carrying amount | 1,145 | 1,159 | |
Accumulated amortization | -263 | -271 | |
Net | 882 | 888 | |
Leases, Acquired-in-Place [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross carrying amount | 251 | 140 | |
Accumulated amortization | -124 | -124 | |
Net | 127 | 16 | |
Present Value Of Future Profits [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross carrying amount | 623 | 614 | |
Accumulated amortization | -623 | -614 | |
Net | 0 | 0 | |
All Other [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross carrying amount | 687 | 460 | |
Accumulated amortization | -508 | -394 | |
Net | $179 | $66 |
Borrowings_and_Bank_Deposits_D
Borrowings and Bank Deposits (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Borrowings And Bank Deposits [Line Items] | ||
Short-term borrowings (Note 8) | $69,211,000,000 | $71,525,000,000 |
Long-term borrowings (Note 8) | 190,420,000,000 | 200,172,000,000 |
Non Recourse Borrowings Of Consolidated Securitization Entities | 29,035,000,000 | 29,938,000,000 |
Bank deposits (Note 8) | 62,691,000,000 | 62,839,000,000 |
Total borrowings and bank deposits | 351,357,000,000 | 364,474,000,000 |
Intersegment [Member] | ||
Borrowings And Bank Deposits [Line Items] | ||
Short-term borrowings (Note 8) | -806,000,000 | -862,000,000 |
Long-term borrowings (Note 8) | -36,000,000 | -45,000,000 |
Current Portion Of Long Term Borrowings [Member] | ||
Borrowings And Bank Deposits [Line Items] | ||
Non Recourse Borrowings Of Consolidated Securitization Entities | 6,374,000,000 | 7,442,000,000 |
GE | ||
Borrowings And Bank Deposits [Line Items] | ||
Short-term borrowings (Note 8) | 3,839,000,000 | 3,872,000,000 |
Long-term borrowings (Note 8) | 12,419,000,000 | 12,468,000,000 |
Non Recourse Borrowings Of Consolidated Securitization Entities | 0 | 0 |
Bank deposits (Note 8) | 0 | 0 |
GE | Commercial Paper [Member] | ||
Borrowings And Bank Deposits [Line Items] | ||
Short-term borrowings (Note 8) | 500,000,000 | 500,000,000 |
GE | Notes Payable to Banks [Member] | ||
Borrowings And Bank Deposits [Line Items] | ||
Short-term borrowings (Note 8) | 410,000,000 | 343,000,000 |
Long-term borrowings (Note 8) | 75,000,000 | 5,000,000 |
GE | Current Portion Of Long Term Borrowings [Member] | ||
Borrowings And Bank Deposits [Line Items] | ||
Short-term borrowings (Note 8) | 2,059,000,000 | 2,068,000,000 |
GE | Other Short Term Borrowing [Member] | ||
Borrowings And Bank Deposits [Line Items] | ||
Short-term borrowings (Note 8) | 870,000,000 | 961,000,000 |
GE | Senior Notes [Member] | ||
Borrowings And Bank Deposits [Line Items] | ||
Long-term borrowings (Note 8) | 11,947,000,000 | 11,945,000,000 |
GE | Other Long Term Borrowing [Member] | ||
Borrowings And Bank Deposits [Line Items] | ||
Long-term borrowings (Note 8) | 397,000,000 | 518,000,000 |
GECC | ||
Borrowings And Bank Deposits [Line Items] | ||
Short-term borrowings (Note 8) | 66,178,000,000 | 68,515,000,000 |
Long-term borrowings (Note 8) | 178,037,000,000 | 187,749,000,000 |
Non Recourse Borrowings Of Consolidated Securitization Entities | 29,035,000,000 | 29,938,000,000 |
Bank deposits (Note 8) | 62,691,000,000 | 62,839,000,000 |
GECC | Commercial Paper [Member] | Financial Guarantee [Member] | ||
Borrowings And Bank Deposits [Line Items] | ||
Short-term borrowings (Note 8) | 25,014,000,000 | |
GECC | US Commercial Paper [Member] | ||
Borrowings And Bank Deposits [Line Items] | ||
Short-term borrowings (Note 8) | 22,227,000,000 | 22,019,000,000 |
GECC | Non US Commercial Paper [Member] | ||
Borrowings And Bank Deposits [Line Items] | ||
Short-term borrowings (Note 8) | 2,787,000,000 | 2,993,000,000 |
GECC | Current Portion Of Long Term Borrowings [Member] | ||
Borrowings And Bank Deposits [Line Items] | ||
Short-term borrowings (Note 8) | 35,545,000,000 | 37,724,000,000 |
GECC | GE Interest Plus notes [Member] | ||
Borrowings And Bank Deposits [Line Items] | ||
Short-term borrowings (Note 8) | 5,457,000,000 | 5,467,000,000 |
GECC | Other Short Term Borrowing [Member] | ||
Borrowings And Bank Deposits [Line Items] | ||
Short-term borrowings (Note 8) | 162,000,000 | 312,000,000 |
GECC | Senior unsecured notes [Member] | ||
Borrowings And Bank Deposits [Line Items] | ||
Long-term borrowings (Note 8) | 156,635,000,000 | 162,629,000,000 |
GECC | Subordinated notes [Member] | ||
Borrowings And Bank Deposits [Line Items] | ||
Long-term borrowings (Note 8) | 4,635,000,000 | 4,804,000,000 |
GECC | Subordinated Debt [Member] | ||
Borrowings And Bank Deposits [Line Items] | ||
Long-term borrowings (Note 8) | 6,543,000,000 | 7,085,000,000 |
GECC | Other Long Term Borrowing [Member] | ||
Borrowings And Bank Deposits [Line Items] | ||
Long-term borrowings (Note 8) | $10,224,000,000 | $13,231,000,000 |
Borrowings_and_Bank_Deposits_P
Borrowings and Bank Deposits (Parenthetical) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Borrowings And Bank Deposits [Line Items] | |||
Long-term borrowings (Note 8) | $190,420,000,000 | $200,172,000,000 | |
Bank deposits (Note 8) | 62,691,000,000 | 62,839,000,000 | |
Short-term borrowings (Note 8) | 69,211,000,000 | 71,525,000,000 | |
Non Recourse Borrowings Of Consolidated Securitization Entities | 29,035,000,000 | 29,938,000,000 | |
Non US Banks | |||
Borrowings And Bank Deposits [Line Items] | |||
Bank deposits (Note 8) | 8,913,000,000 | 10,258,000,000 | |
GECC | |||
Borrowings And Bank Deposits [Line Items] | |||
Long-term borrowings (Note 8) | 178,037,000,000 | 187,749,000,000 | |
Secured Debt | 5,547,000,000 | 5,552,000,000 | |
Bank deposits (Note 8) | 62,691,000,000 | 62,839,000,000 | |
Short-term borrowings (Note 8) | 66,178,000,000 | 68,515,000,000 | |
Non Recourse Borrowings Of Consolidated Securitization Entities | 29,035,000,000 | 29,938,000,000 | |
GECC | Guaranteed investment contracts | |||
Borrowings And Bank Deposits [Line Items] | |||
Long-term debt, current maturities | 434,000,000 | 439,000,000 | |
Long-term borrowings (Note 8) | 6,543,000,000 | ||
GECC | Subordinated Notes Guaranteed By GE | |||
Borrowings And Bank Deposits [Line Items] | |||
Long-term borrowings (Note 8) | 3,871,000,000 | ||
GECC | Covered Bonds Included in Other Long Term Borrowings | |||
Borrowings And Bank Deposits [Line Items] | |||
Long-term borrowings (Note 8) | 400,000,000 | ||
GECC | Unsecured Debt | |||
Borrowings And Bank Deposits [Line Items] | |||
Long-term borrowings (Note 8) | 143,153,000,000 | ||
GECC | PTL | |||
Borrowings And Bank Deposits [Line Items] | |||
Long-term debt, current maturities | 0 | 0 | |
GECC | US Commercial Paper | Subordinated Notes Guaranteed By GE | |||
Borrowings And Bank Deposits [Line Items] | |||
Short-term borrowings (Note 8) | 25,014,000,000 | ||
GECC | Current Portion Of Long Term Borrowings | Unsecured Debt | |||
Borrowings And Bank Deposits [Line Items] | |||
Long-term borrowings (Note 8) | 31,127,000,000 | ||
GECC | Non Recourse | |||
Borrowings And Bank Deposits [Line Items] | |||
Secured Debt | 1,732,000,000 | 1,847,000,000 | |
GECC | Certificates of Deposit | |||
Borrowings And Bank Deposits [Line Items] | |||
Bank deposits (Note 8) | 15,513,000,000 | 22,848,000,000 | |
Synchrony Financial | Unsecured Debt | |||
Borrowings And Bank Deposits [Line Items] | |||
Long-term borrowings (Note 8) | 4,592,000,000 | ||
Synchrony Financial | Long-term Debt | |||
Borrowings And Bank Deposits [Line Items] | |||
Unsecured Long-Term Debt, Noncurrent | $5,651,000,000 |
Postretirement_Benefit_Plans_P
Postretirement Benefit Plans (Pension Benefits Narratives and Pension Plan Participants) (Details) (Other Pension Plan, Defined Benefit [Member], USD $) | Mar. 31, 2015 |
In Millions, unless otherwise specified | |
Other Pension Plan, Defined Benefit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Disclosure of other pension plans includes pension plans with pension assets or obligations in excess of threshold amount | $50 |
Postretirement_Benefit_Plans_C
Postretirement Benefit Plans (Cost of Pension Plans) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Other Pension Plan, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost for benefits earned | $105 | $114 |
Prior service cost amortization | 0 | 1 |
Expected return on plan assets | -209 | -197 |
Interest cost on benefit obligation | 133 | 146 |
Net actuarial (gain) loss amortization | 74 | 49 |
Pension plans cost | 103 | 113 |
Principal Retiree Health and Life Insurance Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost for benefits earned | 41 | 44 |
Prior service cost amortization | 33 | 98 |
Expected return on plan assets | -12 | -12 |
Interest cost on benefit obligation | 101 | 110 |
Net actuarial (gain) loss amortization | 1 | -43 |
Net curtailment / other gain | 4 | 0 |
Pension plans cost | 168 | 197 |
Pension Benefit Plan [Member] | Principal pension plans [Member] | Postretirement Benefit Costs [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost for benefits earned | 361 | 318 |
Prior service cost amortization | 52 | 54 |
Expected return on plan assets | -825 | -801 |
Interest cost on benefit obligation | 695 | 686 |
Net actuarial (gain) loss amortization | 825 | 641 |
Net curtailment / other gain | 71 | 0 |
Pension plans cost | $1,179 | $898 |
Postretirement_Benefit_Plans_P1
Postretirement Benefit Plans (Projected Benefit Obligation and Accumulated Postretirement Benefit Obligation) (Details) (Other Pension Plan, Defined Benefit [Member], USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Other Pension Plan, Defined Benefit [Member] | ||
Projected Benefit Obligation [Abstract] | ||
Service cost for benefits earned | $105 | $114 |
Interest cost on benefit obligation | $133 | $146 |
Postretirement_Benefit_Plans_P2
Postretirement Benefit Plans (Pension Plan Investments) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Investments | $41,992 | $47,558 |
Postretirement_Benefit_Plans_C1
Postretirement Benefit Plans (Cost of Postretirement Benefit Plans and Changes in Other Comprehensive Income) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Other Pension Plan, Defined Benefit [Member] | ||
Changes In Other Comprehensive Income [Abstract] | ||
Prior service cost amortization | $0 | $1 |
Net actuarial gain (loss) amortization | 74 | 49 |
Principal Retiree Health and Life Insurance Plans [Member] | ||
Changes In Other Comprehensive Income [Abstract] | ||
Net curtailment / settlement | 4 | 0 |
Prior service cost amortization | 33 | 98 |
Net actuarial gain (loss) amortization | $1 | ($43) |
Income_Taxes_Balance_of_unreco
Income Taxes (Balance of unrecognized tax benefits) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Income Tax Disclosure [Line Items] | |||
Unrecognized tax benefits | $5,444 | $5,619 | |
Portion that, if recognized, would reduce tax expense and effective tax rate | 4,020 | 4,059 | |
Accrued interest on unrecognized tax benefits | 814 | 807 | |
Accrued penalties on unrecognized tax benefits | 96 | 103 | |
Deferred Income Tax Expense (Benefit) | 1,951 | -2,029 | |
Income Tax Expense (Benefit) | 6,458 | 619 | |
Foreign Cash In Excess Of Normal Operating Needs | 36,000 | ||
Restructuring Charges | |||
Income Tax Disclosure [Line Items] | |||
Income Tax Expense (Benefit) | 5,980 | ||
Income Tax Reconciliation Repatriation Of Foreign Earnings | 3,549 | ||
Deferred income taxes asset | 2,431 | ||
Lower Limit | |||
Income Tax Disclosure [Line Items] | |||
Reasonably possible reduction to the balance of unrecognized tax benefits in succeeding 12 months lower limit | 0 | 0 | |
Portion that, if recognized, would reduce tax expense and effective tax rate | 0 | 0 | |
Upper Limit | |||
Income Tax Disclosure [Line Items] | |||
Reasonably possible reduction to the balance of unrecognized tax benefits in succeeding 12 months upper limit | 800 | 900 | |
Portion that, if recognized, would reduce tax expense and effective tax rate | $300 | $300 |
Shareowners_Equity_Changes_In_
Shareowners' Equity (Changes In Accumulated Other Comprehensive Income) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||
Accumulated Other Comprehensive Income (Loss) Beginning balance | ($18,172) | |
Other comprehensive income, net of tax | -4,240 | 1,269 |
Less Other comprehensive income (loss) attributable to noncontrolling interests | -48 | -2 |
Accumulated Other Comprehensive Income (Loss) Ending balance | -22,364 | -7,849 |
Investment Securities | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||
Accumulated Other Comprehensive Income (Loss) Beginning balance | 1,013 | 307 |
OCI before reclassification tax | 155 | 246 |
Other comprehensive income (OCI) before reclassifications - net of deferred taxes | 287 | 447 |
Reclassification from OCI, tax | -29 | 7 |
Reclassification from OCI net of deferred taxes | -54 | 10 |
Other comprehensive income, net of tax | 233 | 457 |
Less Other comprehensive income (loss) attributable to noncontrolling interests | 1 | 0 |
Accumulated Other Comprehensive Income (Loss) Ending balance | 1,245 | 764 |
Currency Translation Adjustment | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||
Accumulated Other Comprehensive Income (Loss) Beginning balance | -2,427 | 126 |
OCI before reclassification tax | 1,544 | 71 |
Other comprehensive income (OCI) before reclassifications - net of deferred taxes | -5,339 | 47 |
Reclassification from OCI, tax | -1 | 124 |
Reclassification from OCI net of deferred taxes | 3 | 2 |
Other comprehensive income, net of tax | -5,336 | 49 |
Less Other comprehensive income (loss) attributable to noncontrolling interests | -47 | -2 |
Accumulated Other Comprehensive Income (Loss) Ending balance | -7,716 | 177 |
Cash Flow Hedge | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||
Accumulated Other Comprehensive Income (Loss) Beginning balance | -180 | -257 |
OCI before reclassification tax | -38 | 71 |
Other comprehensive income (OCI) before reclassifications - net of deferred taxes | -926 | 99 |
Reclassification from OCI, tax | 117 | -6 |
Reclassification from OCI net of deferred taxes | 880 | -31 |
Other comprehensive income, net of tax | -46 | 68 |
Less Other comprehensive income (loss) attributable to noncontrolling interests | 0 | 0 |
Accumulated Other Comprehensive Income (Loss) Ending balance | -226 | -189 |
Benefit Plans Adj [Member] | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||
Accumulated Other Comprehensive Income (Loss) Beginning balance | -16,578 | -9,296 |
Other comprehensive income, net of tax | 909 | 695 |
Less Other comprehensive income (loss) attributable to noncontrolling interests | -2 | 0 |
Prior Service credit (cost)- net of deferred taxes | 0 | 0 |
Net actuarial gain (loss), Tax | 65 | 42 |
Net actuarial gain (loss) - net of deferred taxes | 210 | 172 |
Prior service credit (costs), tax | 0 | 0 |
Net curtailment/settlement, tax | 27 | 0 |
Net curtailment/settlement - net of deferred taxes | 48 | 0 |
Prior service cost amortization, tax | 37 | 64 |
Prior service cost amortization - net of deferred taxes | 50 | 93 |
Net actuarial loss amortization, tax | 304 | 213 |
Net actuarial loss amortization - net of deferred taxes | 601 | 430 |
Accumulated Other Comprehensive Income (Loss) Ending balance | ($15,667) | ($8,601) |
Shareowners_Equity_Reclass_Out
Shareowners' Equity (Reclass Out of Accumulated Other Comprehensive Income) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Benefit (provision) for income taxes | ($6,458) | ($619) |
Net earnings | -13,608 | 2,952 |
Total Costs and Expenses | 34,304 | 30,229 |
Financial Services Revenue | 5,530 | 9,502 |
Interest and other financial charges | 1,930 | 2,141 |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | -4,948 | 3,319 |
Pension Plan, Defined Benefit | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Benefit (provision) for income taxes | 368 | 277 |
Net earnings | -699 | -523 |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | -1,067 | -800 |
Curtailment loss | -75 | 0 |
Defined Benefit Plan, Amortization of Gains (Losses) | -905 | -643 |
Prior service cost amortization | -87 | -157 |
Reclassification out of AOCI | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Net earnings | -1,528 | -504 |
Financial Services Revenue | -944 | 134 |
Interest and other financial charges | -14 | -6 |
Reclassification out of AOCI | Currency Translation Adjustment | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Benefit (provision) for income taxes | -1 | 124 |
Net earnings | -3 | -2 |
Total Costs and Expenses | -2 | -126 |
Financial Services Revenue | 974 | -3 |
Reclassification out of AOCI | Cash Flow Hedge | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Benefit (provision) for income taxes | 117 | -6 |
Net earnings | -880 | 31 |
Financial Services Revenue | -958 | 128 |
Interest and other financial charges | -39 | -69 |
Other Nonoperating Income (Expense) | 0 | -22 |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | -997 | 37 |
Reclassification out of AOCI | Available-for-sale Securities | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Other Income | 83 | -17 |
Benefit (provision) for income taxes | -29 | 7 |
Net earnings | 54 | -10 |
GECC | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Benefit (provision) for income taxes | -6,152 | -301 |
Net earnings | -14,654 | 1,956 |
Total Costs and Expenses | 12,283 | 7,880 |
Financial Services Revenue | 5,961 | 9,858 |
Interest and other financial charges | 1,651 | 1,887 |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | ($6,301) | $2,005 |
Shareowners_Equity_Summary_of_
Shareowners' Equity (Summary of Noncontrolling Interests) (Details) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | ||||
In Millions, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | |||
Summary of Noncontrolling Interests | |||||||
GECC issuance of preferred stock | $4,950 | $4,950 | |||||
Synchrony Financial | 2,617 | 2,531 | |||||
AOCI and other | 1,171 | 1,193 | |||||
Noncontrolling interests | 8,738 | [1] | 8,674 | [1] | 6,183 | 6,217 | [1] |
Common Stock, Shares Authorized | 13,200,000 | ||||||
Common Stock, Par or Stated Value Per Share | $0.06 | ||||||
Other nonconsolidated affiliates | |||||||
Summary of Noncontrolling Interests | |||||||
Synchrony Financial | 2,617 | 2,531 | |||||
AOCI and other | -97 | -9 | |||||
GECC | |||||||
Summary of Noncontrolling Interests | |||||||
GECC dividend | 450 | 500 | |||||
AOCI and other | -22,364 | ||||||
Noncontrolling interests | $2,987 | $2,899 | |||||
[1] | (c) Included AOCI attributable to noncontrolling interests of $(243) million and $(194) million at March 31, 2015 and December 31, 2014, respectively. |
Shareowners_Equity_Changes_Non
Shareowners' Equity (Changes Noncontrolling Interests) (Details) (USD $) | 3 Months Ended | ||||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | ||
Noncontrolling Interest [Line Items] | |||||
Beginning balance | $8,674 | [1] | $6,217 | [1] | |
Net earnings (loss) | -31 | -33 | |||
Dividends | -2 | -10 | |||
Dispositions | 97 | 9 | |||
Ending balance | 8,738 | [1] | 6,183 | ||
GE | |||||
Noncontrolling Interest [Line Items] | |||||
Beginning balance | 825 | ||||
Ending balance | 801 | 825 | |||
GECC | |||||
Noncontrolling Interest [Line Items] | |||||
Beginning balance | 2,899 | ||||
Ending balance | $2,987 | $2,899 | |||
[1] | (c) Included AOCI attributable to noncontrolling interests of $(243) million and $(194) million at March 31, 2015 and December 31, 2014, respectively. |
GECC_Revenues_from_Services_De
GECC Revenues from Services (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Total | $5,530 | $9,502 |
Eliminations | ||
Total | -431 | -356 |
GECC | ||
Interest On Loans | 3,807 | 4,029 |
Equipment leased to others | 2,427 | 2,661 |
Fees | 1,048 | 1,086 |
Investment Income | 622 | 558 |
Associated companies | 388 | 373 |
Premiums earned by insurance activities | 329 | 352 |
Financing leases | 307 | 387 |
Other items | -2,967 | 412 |
Total | 5,961 | 9,858 |
Net other-than-temporary impairments on investment securities | 3 | 6 |
GECC | Restructuring Charges | ||
Gain (Loss) on Disposition of Business | 1,845 | |
Gain (Loss) on Sale of Equity Investments | $1,404 |
Earnings_Per_Share_Information2
Earnings Per Share Information (Details) (USD $) | 3 Months Ended | |
In Millions, except Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Amount attributable to the Company: | ||
Earnings (loss) from continuing operations for per-share calculation, Diluted | ($11,374) | $2,743 |
Earnings (loss) from discontinued operations for per-share calculation, Diluted | -2,205 | 252 |
Net earnings attributable to GE common shareowners for per-share calculation, Diluted | -13,576 | 2,995 |
Earnings (loss) from continuing operations for per-share calculation, basic | -11,374 | 2,743 |
Earnings (loss) from discontinued operations for per-share calculation, basic | -2,205 | 252 |
Net earnings attributable to GE common shareowners for per-share calculation, Basic | -13,576 | 2,995 |
Average equivalent shares | ||
Shares of GE common stock outstanding, Diluted | 10,067,000,000 | 10,045,000,000 |
Employee compensation-related shares (including stock options) and warrants, Diluted | 0 | 78,000,000 |
Total average equivalent shares, Diluted | 10,067,000,000 | 10,123,000,000 |
Shares of GE common stock outstanding, Basic | 10,067,000,000 | 10,045,000,000 |
Employee compensation-related shares (including stock options) and warrants, Basic | 0 | 0 |
Total average equivalent shares, Basic | 10,067,000,000 | 10,045,000,000 |
Per-share amounts | ||
Earnings (loss) from continuing operations-Diluted | ($1.13) | $0.27 |
Earnings (loss) from discontinued operations-Diluted | ($0.22) | $0.02 |
Net earnings-Diluted | ($1.35) | $0.30 |
Earnings (loss) from continuing operations-Basic | ($1.13) | $0.27 |
Earnings (loss) from discontinued operations-Basic | ($0.22) | $0.03 |
Net earnings-Basic | ($1.35) | $0.30 |
Preferred stock dividends declared | $0 | $0 |
Outstanding anti-dilutive stock awards not included in computation of diluted earnings per share | 312 | 72 |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Cumulative Gain (Loss) Adjustment For Non Performance Risk | $6 | $9 |
Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 45,237 | 50,322 |
Liabilities | 2,369 | 1,760 |
Fair Value Of Securities Transferred Between Level 1 And Level 2 | 0 | |
Recurring | Derivative liabilities | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Liabilities | 1,159 | 582 |
Recurring | Other Liabilities | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Liabilities | 1,210 | 1,178 |
Recurring | Retained interest | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 17 | 17 |
Recurring | Derivatives | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 3,020 | 2,487 |
Recurring | Other Assets | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 225 | 277 |
US Corporate | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 24,299 | 23,799 |
State and municipal | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 5,584 | 5,749 |
Residential Mortgage Backed Securities | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 1,225 | 1,725 |
Commercial mortgage backed | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 2,597 | 3,063 |
Asset-backed | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 295 | 7,918 |
Corporate - non-U.S. | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 1,051 | 1,136 |
Fair Value Of Securities Transferred Between Level 1 And Level 2 | 13 | |
Government - non-U.S. | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 1,468 | 1,796 |
Fair Value Of Securities Transferred Between Level 1 And Level 2 | 487 | |
U.S. Government and federal agency | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 5,115 | 2,013 |
Available-for-sale Securities | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 322 | 321 |
Trading | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 19 | 21 |
Level 1 | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 383 | 370 |
Liabilities | 0 | 0 |
Level 1 | Recurring | Derivative liabilities | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Liabilities | 0 | 0 |
Level 1 | Recurring | Other Liabilities | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Liabilities | 0 | 0 |
Level 1 | Recurring | Retained interest | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 0 | 0 |
Level 1 | Recurring | Derivatives | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 0 | 0 |
Level 1 | Recurring | Other Assets | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 0 | 0 |
Level 1 | US Corporate | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 0 | 0 |
Level 1 | State and municipal | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 0 | 0 |
Level 1 | Residential Mortgage Backed Securities | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 0 | 0 |
Level 1 | Commercial mortgage backed | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 0 | 0 |
Level 1 | Asset-backed | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 0 | 0 |
Level 1 | Corporate - non-U.S. | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 13 | 0 |
Level 1 | Government - non-U.S. | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 55 | 56 |
Level 1 | U.S. Government and federal agency | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 0 | 0 |
Level 1 | Available-for-sale Securities | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 296 | 293 |
Level 1 | Trading | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 19 | 21 |
Level 2 | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 48,509 | 45,158 |
Liabilities | 8,071 | 6,149 |
Level 2 | Recurring | Derivative liabilities | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Liabilities | 6,861 | 4,971 |
Level 2 | Recurring | Other Liabilities | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Liabilities | 1,210 | 1,178 |
Level 2 | Recurring | Retained interest | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 0 | 0 |
Level 2 | Recurring | Derivatives | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 11,508 | 10,038 |
Level 2 | Recurring | Other Assets | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 0 | 0 |
Level 2 | US Corporate | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 21,073 | 20,659 |
Level 2 | State and municipal | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 5,032 | 5,171 |
Level 2 | Residential Mortgage Backed Securities | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 1,222 | 1,709 |
Level 2 | Commercial mortgage backed | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 2,595 | 3,054 |
Level 2 | Asset-backed | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 183 | 343 |
Level 2 | Corporate - non-U.S. | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 641 | 680 |
Level 2 | Government - non-U.S. | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 1,411 | 1,738 |
Level 2 | U.S. Government and federal agency | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 4,824 | 1,747 |
Level 2 | Available-for-sale Securities | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 20 | 19 |
Level 2 | Trading | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 0 | 0 |
Level 3 | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 4,891 | 12,399 |
Liabilities | 20 | 18 |
Level 3 | Recurring | Derivative liabilities | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Liabilities | 20 | 18 |
Level 3 | Recurring | Other Liabilities | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Liabilities | 0 | 0 |
Level 3 | Recurring | Retained interest | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 17 | 17 |
Level 3 | Recurring | Derivatives | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 58 | 54 |
Level 3 | Recurring | Other Assets | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 225 | 277 |
Level 3 | US Corporate | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 3,226 | 3,140 |
Level 3 | State and municipal | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 552 | 578 |
Level 3 | Residential Mortgage Backed Securities | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 3 | 16 |
Level 3 | Commercial mortgage backed | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 2 | 9 |
Level 3 | Asset-backed | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 112 | 7,575 |
Level 3 | Corporate - non-U.S. | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 397 | 456 |
Level 3 | Government - non-U.S. | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 2 | 2 |
Level 3 | U.S. Government and federal agency | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 291 | 266 |
Level 3 | Available-for-sale Securities | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 6 | 9 |
Level 3 | Trading | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 0 | 0 |
Netting Adjustment | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | -8,546 | -7,605 |
Liabilities | -5,722 | -4,407 |
Netting Adjustment | Recurring | Derivative liabilities | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Liabilities | -5,722 | -4,407 |
Netting Adjustment | Recurring | Other Liabilities | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Liabilities | 0 | 0 |
Netting Adjustment | Recurring | Retained interest | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 0 | 0 |
Netting Adjustment | Recurring | Derivatives | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | -8,546 | -7,605 |
Netting Adjustment | Recurring | Other Assets | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 0 | 0 |
Netting Adjustment | US Corporate | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 0 | 0 |
Netting Adjustment | State and municipal | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 0 | 0 |
Netting Adjustment | Residential Mortgage Backed Securities | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 0 | 0 |
Netting Adjustment | Commercial mortgage backed | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 0 | 0 |
Netting Adjustment | Asset-backed | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 0 | 0 |
Netting Adjustment | Corporate - non-U.S. | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 0 | 0 |
Netting Adjustment | Government - non-U.S. | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 0 | 0 |
Netting Adjustment | U.S. Government and federal agency | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 0 | 0 |
Netting Adjustment | Available-for-sale Securities | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | 0 | 0 |
Netting Adjustment | Trading | Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Assets | $0 | $0 |
Fair_Value_Measurements_Change
Fair Value Measurements (Changes in Level 3 Instruments) (Details) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Cash Accruals Not Included In Schedule Assets Measured For Fair Value On Recurring Basis | $10 | $6 | |
Level 3 | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Changes in Level 3, ending balance | 2,679 | 2,600 | |
Level 3 | Recurring | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Changes in Level 3, beginning balance | 12,390 | 11,510 | 11,510 |
Net realized/unrealized gains (losses) included in earnings | -19 | 18 | |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | 236 | 83 | |
Purchases | 494 | 786 | |
Sales | -152 | -17 | |
Settlements | -732 | -716 | |
Transfers into Level 3 | 0 | 533 | |
Transfers out of Level 3 | -7,336 | -364 | |
Changes in Level 3, ending balance | 4,881 | 11,833 | |
Net change in unrealized gains (losses) relating to instruments still held | -34 | 4 | |
Level 3 | Recurring | Derivatives | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Changes in Level 3, beginning balance | 45 | 21 | 21 |
Net realized/unrealized gains (losses) included in earnings | 4 | 7 | |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | 2 | 0 | |
Purchases | 0 | -1 | |
Sales | 0 | 0 | |
Settlements | -2 | 2 | |
Transfers into Level 3 | 0 | -1 | |
Transfers out of Level 3 | -1 | 0 | |
Changes in Level 3, ending balance | 48 | 28 | |
Net change in unrealized gains (losses) relating to instruments still held | 4 | 13 | |
Level 3 | Recurring | Retained interest | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Changes in Level 3, beginning balance | 17 | 21 | 21 |
Net realized/unrealized gains (losses) included in earnings | 0 | 0 | |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | 0 | 0 | |
Purchases | 1 | 1 | |
Sales | 0 | 0 | |
Settlements | -1 | -2 | |
Transfers into Level 3 | 0 | 0 | |
Transfers out of Level 3 | 0 | 0 | |
Changes in Level 3, ending balance | 17 | 20 | |
Net change in unrealized gains (losses) relating to instruments still held | 0 | 0 | |
Level 3 | Recurring | Other | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Changes in Level 3, beginning balance | 277 | 480 | 480 |
Net realized/unrealized gains (losses) included in earnings | -38 | 1 | |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | 0 | 0 | |
Purchases | 0 | 0 | |
Sales | -14 | -13 | |
Settlements | 0 | 0 | |
Transfers into Level 3 | 0 | 0 | |
Transfers out of Level 3 | 0 | -279 | |
Changes in Level 3, ending balance | 225 | 189 | |
Net change in unrealized gains (losses) relating to instruments still held | -38 | -9 | |
Level 3 | US Corporate | Recurring | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Changes in Level 3, beginning balance | 3,140 | 2,953 | 2,953 |
Net realized/unrealized gains (losses) included in earnings | 8 | 8 | |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | 61 | 60 | |
Purchases | 94 | 153 | |
Sales | -18 | -2 | |
Settlements | -36 | -112 | |
Transfers into Level 3 | 0 | 97 | |
Transfers out of Level 3 | -23 | -53 | |
Changes in Level 3, ending balance | 3,226 | 3,104 | |
Net change in unrealized gains (losses) relating to instruments still held | 0 | 0 | |
Level 3 | State and municipal | Recurring | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Changes in Level 3, beginning balance | 578 | 96 | 96 |
Net realized/unrealized gains (losses) included in earnings | 0 | 0 | |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | 0 | 27 | |
Purchases | 7 | 9 | |
Sales | -31 | 0 | |
Settlements | -2 | -7 | |
Transfers into Level 3 | 0 | 435 | |
Transfers out of Level 3 | 0 | 0 | |
Changes in Level 3, ending balance | 552 | 560 | |
Net change in unrealized gains (losses) relating to instruments still held | 0 | 0 | |
Level 3 | Residential Mortgage Backed Securities | Recurring | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Changes in Level 3, beginning balance | 16 | 86 | 86 |
Net realized/unrealized gains (losses) included in earnings | 5 | 0 | |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | -4 | -1 | |
Purchases | 0 | 0 | |
Sales | -14 | 0 | |
Settlements | 0 | -4 | |
Transfers into Level 3 | 0 | 0 | |
Transfers out of Level 3 | 0 | 0 | |
Changes in Level 3, ending balance | 3 | 81 | |
Net change in unrealized gains (losses) relating to instruments still held | 0 | 0 | |
Level 3 | Commercial mortgage backed | Recurring | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Changes in Level 3, beginning balance | 9 | 10 | 10 |
Net realized/unrealized gains (losses) included in earnings | 0 | 0 | |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | 0 | 0 | |
Purchases | 0 | 0 | |
Sales | -7 | 0 | |
Settlements | 0 | -1 | |
Transfers into Level 3 | 0 | 2 | |
Transfers out of Level 3 | 0 | 0 | |
Changes in Level 3, ending balance | 2 | 11 | |
Net change in unrealized gains (losses) relating to instruments still held | 0 | 0 | |
Level 3 | Asset-backed | Recurring | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Changes in Level 3, beginning balance | 7,575 | 6,898 | 6,898 |
Net realized/unrealized gains (losses) included in earnings | 0 | 1 | |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | 160 | -27 | |
Purchases | 140 | 405 | |
Sales | -11 | 0 | |
Settlements | -442 | -369 | |
Transfers into Level 3 | 0 | 0 | |
Transfers out of Level 3 | -7,310 | 0 | |
Changes in Level 3, ending balance | 112 | 6,908 | |
Net change in unrealized gains (losses) relating to instruments still held | 0 | 0 | |
Level 3 | Corporate - non-U.S. | Recurring | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Changes in Level 3, beginning balance | 456 | 678 | 678 |
Net realized/unrealized gains (losses) included in earnings | 0 | 1 | |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | -7 | 15 | |
Purchases | 252 | 219 | |
Sales | -57 | -2 | |
Settlements | -245 | -223 | |
Transfers into Level 3 | 0 | 0 | |
Transfers out of Level 3 | -2 | 0 | |
Changes in Level 3, ending balance | 397 | 688 | |
Net change in unrealized gains (losses) relating to instruments still held | 0 | 0 | |
Level 3 | Government - non-U.S. | Recurring | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Changes in Level 3, beginning balance | 2 | 31 | 31 |
Net realized/unrealized gains (losses) included in earnings | 0 | 0 | |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | 0 | 0 | |
Purchases | 0 | 0 | |
Sales | 0 | 0 | |
Settlements | 0 | 0 | |
Transfers into Level 3 | 0 | 0 | |
Transfers out of Level 3 | 0 | -30 | |
Changes in Level 3, ending balance | 2 | 1 | |
Net change in unrealized gains (losses) relating to instruments still held | 0 | 0 | |
Level 3 | U.S. Government and federal agency | Recurring | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Changes in Level 3, beginning balance | 266 | 225 | 225 |
Net realized/unrealized gains (losses) included in earnings | 0 | 0 | |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | 26 | 9 | |
Purchases | 0 | 0 | |
Sales | 0 | 0 | |
Settlements | -1 | 0 | |
Transfers into Level 3 | 0 | 0 | |
Transfers out of Level 3 | 0 | -2 | |
Changes in Level 3, ending balance | 291 | 232 | |
Net change in unrealized gains (losses) relating to instruments still held | 0 | 0 | |
Level 3 | Available-for-sale Securities | Recurring | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Changes in Level 3, beginning balance | 9 | 11 | 11 |
Net realized/unrealized gains (losses) included in earnings | 2 | 0 | |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | -2 | 0 | |
Purchases | 0 | 0 | |
Sales | 0 | 0 | |
Settlements | -3 | 0 | |
Transfers into Level 3 | 0 | 0 | |
Transfers out of Level 3 | 0 | 0 | |
Changes in Level 3, ending balance | 6 | 11 | |
Net change in unrealized gains (losses) relating to instruments still held | $0 | $0 |
Fair_Value_Measurements_NonRec
Fair Value Measurements (Non-Recurring Fair Value Measurements) (Details) (Non-recurring, Fair value adjustments, USD $) | 3 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Cost and equity method investments | ($1,462) | ($208) | |
Long-lived assets, including real-estate | -602 | -64 | |
Financing receivables and loans held for sale | -4,000 | -119 | |
Assets Fair Value Disclosure | -6,064 | -391 | |
Level 2 | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Cost and equity method investments | 0 | 2 | |
Long-lived assets, including real-estate | 0 | 364 | |
Financing receivables and loans held for sale | 0 | 49 | |
Assets Fair Value Disclosure | 0 | 415 | |
Level 3 | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Cost and equity method investments | 2,151 | 399 | |
Long-lived assets, including real-estate | 2,351 | 836 | |
Financing receivables and loans held for sale | 41,644 | 808 | |
Assets Fair Value Disclosure | $46,146 | $2,043 |
Fair_Value_Measurements_Signif
Fair Value Measurements (Significant Unobservable Inputs) (Details) (Level 3, USD $) | 3 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 2,679 | 2,600 | ||
Assets Fair Value Disclosure Nonrecurring | 3,741 | 844 | ||
Individually Insignificant Recurring Fair Value Measurements | 94 | 261 | ||
Individually Insignificant NonRecurring Fair Value Measurements | 53 | 108 | ||
Recurring | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 4,881 | 12,390 | 11,833 | 11,510 |
Recurring | US Corporate | Income Approach | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Investments, Fair Value Disclosure | 1,015 | 980 | ||
Recurring | US Corporate | Income Approach | Lower Limit | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Discount Rate | 1.70% | 1.50% | ||
Recurring | US Corporate | Income Approach | Upper Limit | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Discount Rate | 13.20% | 14.80% | ||
Recurring | US Corporate | Income Approach | Weighted Average | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Discount Rate | 6.70% | 6.60% | ||
Recurring | State And Municipal Debt | Income Approach | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Investments, Fair Value Disclosure | 456 | 481 | ||
Recurring | State And Municipal Debt | Income Approach | Lower Limit | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Discount Rate | 2.80% | 1.90% | ||
Recurring | State And Municipal Debt | Income Approach | Upper Limit | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Discount Rate | 6.30% | 5.90% | ||
Recurring | State And Municipal Debt | Income Approach | Weighted Average | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Discount Rate | 4.80% | 2.80% | ||
Recurring | Asset-backed | Income Approach | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Investments, Fair Value Disclosure | 99 | 7,554 | ||
Recurring | Asset-backed | Income Approach | Lower Limit | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Discount Rate | 5.30% | 2.20% | ||
Recurring | Asset-backed | Income Approach | Upper Limit | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Discount Rate | 9.00% | 12.40% | ||
Recurring | Asset-backed | Income Approach | Weighted Average | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Discount Rate | 5.60% | 5.00% | ||
Recurring | Corporate - non-U.S. | Income Approach | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Investments, Fair Value Disclosure | 333 | 388 | ||
Recurring | Corporate - non-U.S. | Income Approach | Lower Limit | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Discount Rate | 0.20% | 0.40% | ||
Recurring | Corporate - non-U.S. | Income Approach | Upper Limit | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Discount Rate | 14.00% | 14.00% | ||
Recurring | Corporate - non-U.S. | Income Approach | Weighted Average | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Discount Rate | 5.60% | 5.70% | ||
Recurring | Other financial assets | Income Approach | Lower Limit | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Discount Rate | 6.50% | |||
WACC | 5.40% | |||
Recurring | Other financial assets | Income Approach | Upper Limit | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Discount Rate | 7.80% | |||
WACC | 9.10% | |||
Recurring | Other financial assets | Income Approach | Weighted Average | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Discount Rate | 7.70% | |||
WACC | 7.70% | |||
Recurring | Other financial assets | Market comparables | Lower Limit | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
EBITDA Multiple | 1.5 | 5.4 | ||
Recurring | Other financial assets | Market comparables | Upper Limit | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
EBITDA Multiple | 9 | 7.8 | ||
Recurring | Other financial assets | Market comparables | Weighted Average | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
EBITDA Multiple | 6.5 | 5.7 | ||
Recurring | Other financial assets | Income Approach, Market Comparables | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Investments, Fair Value Disclosure | 195 | 117 | ||
Non-recurring | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Assets Fair Value Disclosure Nonrecurring | 46,146 | 2,043 | ||
Non-recurring | Financing receivables and loans held for sale | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Assets Fair Value Disclosure Nonrecurring | 41,644 | 808 | ||
Non-recurring | Financing receivables and loans held for sale | Income Approach | Lower Limit | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Capitalization Rate | 1.00% | 4.30% | ||
Non-recurring | Financing receivables and loans held for sale | Income Approach | Upper Limit | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Capitalization Rate | 30.00% | 6.50% | ||
Non-recurring | Financing receivables and loans held for sale | Income Approach | Weighted Average | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Capitalization Rate | 11.00% | 6.20% | ||
Non-recurring | Financing receivables and loans held for sale | Business Enterprise Value | Lower Limit | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
EBITDA Multiple | 1.5 | |||
Non-recurring | Financing receivables and loans held for sale | Business Enterprise Value | Upper Limit | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
EBITDA Multiple | 0 | |||
Non-recurring | Financing receivables and loans held for sale | Business Enterprise Value | Weighted Average | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
EBITDA Multiple | 6.5 | |||
Non-recurring | Financing receivables and loans held for sale | Income Approach, Business Enterprise value | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Investments, Fair Value Disclosure | 40,043 | 82 | ||
Non-recurring | Cost and equity method investments | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Assets Fair Value Disclosure Nonrecurring | 399 | |||
Non-recurring | Cost and equity method investments | Income Approach | Lower Limit | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Discount Rate | 0.40% | 8.00% | ||
Capitalization Rate | 1.80% | |||
Non-recurring | Cost and equity method investments | Income Approach | Upper Limit | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Discount Rate | 0.00% | 10.00% | ||
Capitalization Rate | 10.50% | |||
Non-recurring | Cost and equity method investments | Income Approach | Weighted Average | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Discount Rate | 0.00% | 9.40% | ||
Capitalization Rate | 7.00% | |||
Non-recurring | Cost and equity method investments | Income Approach, Market Comparables | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Investments, Fair Value Disclosure | 343 | |||
Non-recurring | Cost and equity method investments | Income Approach, Business Enterprise Value, Market Comparable | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Investments, Fair Value Disclosure | 1,928 | |||
Non-recurring | Cost and equity method investments | Business Enterprise Value, Market Comparables | Lower Limit | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Capitalization Rate | 0.00% | |||
Non-recurring | Cost and equity method investments | Business Enterprise Value, Market Comparables | Upper Limit | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Capitalization Rate | 0.00% | |||
Non-recurring | Cost and equity method investments | Business Enterprise Value, Market Comparables | Weighted Average | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Capitalization Rate | 0.00% | |||
Non-recurring | Long Lived Assets, Including Real Estate | Income Approach | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Investments, Fair Value Disclosure | 381 | 666 | ||
Non-recurring | Long Lived Assets, Including Real Estate | Income Approach | Lower Limit | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Discount Rate | 0.00% | 0.00% | ||
Capitalization Rate | 4.50% | 2.00% | ||
Non-recurring | Long Lived Assets, Including Real Estate | Income Approach | Upper Limit | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Discount Rate | 0.00% | 0.00% | ||
Capitalization Rate | 15.40% | 19.00% | ||
Non-recurring | Long Lived Assets, Including Real Estate | Income Approach | Weighted Average | ||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ||||
Discount Rate | 0.00% | 0.00% | ||
Capitalization Rate | 0.00% | 6.80% |
Financial_Instruments_Details
Financial Instruments (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Financial Instruments [Line Items] | ||
Effect of including interest rate and currency derivatives on borrowings and bank deposits | $4,514 | $5,020 |
Reinsurance Recoverables | 0 | 964 |
GE | Carrying amount | ||
Financial Instruments [Line Items] | ||
Investments and notes receivable | 505 | 502 |
Borrowings | 16,258 | 16,340 |
GE | Estimated fair value | ||
Financial Instruments [Line Items] | ||
Investments and notes receivable | 552 | 551 |
Borrowings | 17,471 | 17,503 |
GECC | Notional amount | ||
Financial Instruments [Line Items] | ||
Notional Amount Of Life Insurance Benefit Net | 0 | 1,843 |
GECC | Carrying amount | ||
Financial Instruments [Line Items] | ||
Loans | 72,748 | 193,214 |
Other commercial mortgages | 1,430 | 1,427 |
Loans held for sale | 76,679 | 1,830 |
Other financial instruments | 239 | 566 |
Borrowings and bank deposits | -335,941 | -349,041 |
Investment contract benefits | -2,923 | -2,970 |
Guaranteed investment contracts | -1,000 | -1,000 |
Liability for Future Policy Benefits, Life | 0 | -90 |
GECC | Estimated fair value | ||
Financial Instruments [Line Items] | ||
Loans | 78,974 | 197,833 |
Other commercial mortgages | 1,569 | 1,508 |
Loans held for sale | 76,797 | 1,855 |
Other financial instruments | 315 | 786 |
Borrowings and bank deposits | -351,046 | -365,724 |
Investment contract benefits | -3,553 | -3,565 |
Guaranteed investment contracts | -1,049 | -1,031 |
Liability for Future Policy Benefits, Life | $0 | ($77) |
Financial_Instruments_Notional
Financial Instruments (Notional amount of loan commitments) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Loan Commitments By Notional Amount [Line Items] | ||
Ordinary course of business lending commitments | $2,935 | $3,239 |
Excluded investment commitments | 742 | 835 |
Inventory financing arrangements excluded | 13,530 | 15,041 |
Total Commercial | ||
Loan Commitments By Notional Amount [Line Items] | ||
Unused revolving credit lines | 12,987 | 14,681 |
Commitments Associated with Secured Financing Arrangements | 9,434 | 10,509 |
Maximum Commitments Associated with Secured Financing Arrangements | 11,656 | 12,353 |
Consumer Principally Credit Cards | ||
Loan Commitments By Notional Amount [Line Items] | ||
Unused revolving credit lines | $309,688 | $306,188 |
Financial_Instruments_Securiti
Financial Instruments (Securities Repurchase and Reverse Repurchase Arrangements) (Details) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 |
Financial Instruments [Line Items] | |
Securities For Repurchase Agreements | $45 |
Reverse Repurchase Agreements Maturities | 90 days |
Securities for Reverse Repurchase Agreements | $12,100 |
Financial_Instruments_Derivati
Financial Instruments (Derivatives and hedging) (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | $258,000 | |
Derivative asset, fair value | 1,642 | 617 |
Derivative liability, fair value | 1,128 | 564 |
Cumulative gain (loss) adjustment for non performance risk | 6 | 9 |
Excess Collateralization | 157 | 63 |
Excess Collateral Posted | 255 | 211 |
Excess Securities Collateral Held | 196 | 317 |
Recognized In Statement Of Financial Position [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 12,513 | 11,490 |
Derivative liabilities | 6,850 | 4,971 |
Amounts Offset In Statement Of Financial Position [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | -8,546 | -7,605 |
Derivative liabilities | -5,722 | -4,407 |
Netting Adjustment [Member] | Amounts Offset In Statement Of Financial Position [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | -5,223 | -3,896 |
Derivative liabilities | -5,229 | -3,905 |
Cash Collateral [Member] | Amounts Offset In Statement Of Financial Position [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | -3,323 | -3,709 |
Derivative liabilities | -493 | -502 |
Securities Pledged as Collateral [Member] | Not Offset In Statement Of Financial Position [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | -2,325 | -3,268 |
Derivative liabilities | 0 | 0 |
Derivatives Accounted For As Hedges | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 9,459 | 8,438 |
Derivative liabilities | 1,872 | 1,347 |
Derivatives Not Accounted For As Hedges [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 2,107 | 1,654 |
Derivative liabilities | 5,009 | 3,642 |
Derivatives Associated With Interest Rate, Currency Or Market Risk Reduction Or Elimination [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | 223,000 | |
Percentage Of Notional Amount That Is Associated With Reducing Or Eliminating Interest Rate, Currency, Or Market Risk | 86.00% | |
Gross Derivatives [Member] | Recognized In Statement Of Financial Position [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 11,566 | 10,092 |
Derivative liabilities | 6,881 | 4,989 |
Gross Accrued Interest [Member] | Recognized In Statement Of Financial Position [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 947 | 1,398 |
Derivative liabilities | -31 | -18 |
Net Derivative [Member] | Recognized In Statement Of Financial Position [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 3,967 | 3,885 |
Derivative liabilities | 1,128 | 564 |
Interest Rate Contract | Derivatives Accounted For As Hedges | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 6,106 | 5,859 |
Derivative liabilities | 241 | 461 |
Interest Rate Contract | Derivatives Not Accounted For As Hedges [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 152 | 186 |
Derivative liabilities | 133 | 137 |
Foreign Exchange Contract | Derivatives Accounted For As Hedges | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 3,353 | 2,579 |
Derivative liabilities | 1,627 | 884 |
Foreign Exchange Contract | Derivatives Not Accounted For As Hedges [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 1,693 | 1,212 |
Derivative liabilities | 4,822 | 3,450 |
Other Contract | Derivatives Accounted For As Hedges | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 0 | 0 |
Derivative liabilities | 4 | 2 |
Other Contract | Derivatives Not Accounted For As Hedges [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 262 | 256 |
Derivative liabilities | $54 | $55 |
Financial_Instruments_Fair_val
Financial Instruments (Fair value hedges) (Details) (Fair Value Hedges, USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Fair value hedges | ||
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | ($32) | ($16) |
Interest Rate Contract | ||
Fair value hedges | ||
Gain (loss) on derivatives | 1,060 | 990 |
Gain (loss) on hedged items | -1,091 | -1,005 |
Foreign Exchange Contract | ||
Fair value hedges | ||
Gain (loss) on derivatives | -7 | 2 |
Gain (loss) on hedged items | $6 | ($3) |
Financial_Instruments_Cash_flo
Financial Instruments (Cash flow hedges) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Summary Of Cash Flow Hedge Activity [Line Items] | ||
Maximum term of hedged forecasted transactions | 18 years | 19 years |
Cash Flow Hedge | ||
Summary Of Cash Flow Hedge Activity [Line Items] | ||
Gain (loss) recognized in AOCI | -1,083 | 157 |
Gain (loss) reclassified from AOCI into earnings | -997 | 37 |
Pre-tax gain (loss) included in AOCI related to cash flow hedges of forecasted transactions | 205 | |
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | -303 | |
Cash Flow Hedge | Interest Rate Contract | ||
Summary Of Cash Flow Hedge Activity [Line Items] | ||
Gain (loss) recognized in AOCI | -3 | 3 |
Gain (loss) reclassified from AOCI into earnings | -39 | -69 |
Cash Flow Hedge | Foreign Exchange Contract | ||
Summary Of Cash Flow Hedge Activity [Line Items] | ||
Gain (loss) recognized in AOCI | -1,077 | 156 |
Gain (loss) reclassified from AOCI into earnings | -957 | 108 |
Cash Flow Hedge | Commodity Contract | ||
Summary Of Cash Flow Hedge Activity [Line Items] | ||
Gain (loss) recognized in AOCI | -3 | -2 |
Gain (loss) reclassified from AOCI into earnings | -1 | -2 |
Financial_Instruments_Net_inve
Financial Instruments (Net investment hedges in foreign operations) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Net investment hedges in foreign operation | ||
Financial Services Revenue | $5,530 | $9,502 |
Currency Translation Adjustment [Member] | Discontinued Operations [Member] | ||
Net investment hedges in foreign operation | ||
Gain (loss) reclassified from AOCI into earnings | -189 | 13 |
Reclassification out of AOCI [Member] | ||
Net investment hedges in foreign operation | ||
Financial Services Revenue | -944 | 134 |
Reclassification out of AOCI [Member] | Currency Translation Adjustment [Member] | ||
Net investment hedges in foreign operation | ||
Financial Services Revenue | 974 | -3 |
Foreign Exchange Contract [Member] | Net Investment Hedge [Member] | ||
Net investment hedges in foreign operation | ||
Gain (loss) recognized in AOCI | 4,989 | -1,033 |
Gain (loss) reclassified from AOCI into earnings | 785 | 10 |
Gain (loss) on hedged items | ($44) | ($142) |
Financial_Instruments_Freestan
Financial Instruments (Free-standing derivatives) (Details) (Free Standing Derivatives [Member], Nondesignated as Hedges, USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Free standing derivatives | ||
Gain (loss) on derivatives | ($3,094) | $1,097 |
Interest Rate Contract [Member] | ||
Free standing derivatives | ||
Gain (loss) on derivatives | -44 | 0 |
Foreign Exchange Contract [Member] | ||
Free standing derivatives | ||
Gain (loss) on derivatives | -3,031 | 1,126 |
Other Contract [Member] | ||
Free standing derivatives | ||
Gain (loss) on derivatives | ($19) | ($29) |
Financial_Instruments_Counterp
Financial Instruments (Counterparty credit risk) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Counterparty credit risk | ||
Total Collateral | $5,648 | |
Fair value of collateral posted to counterparties for derivative obligations | 493 | |
Exposure To Counterparties Including Interest Net Collateral Excluding Derivatives | 1,389 | |
Derivative Liability After Collateral And Outstanding Interest Payments Excluding Embedded Derivatives | 1,035 | 1,389 |
Cash [Member] | ||
Counterparty credit risk | ||
Total Collateral | 3,323 | |
Securities Held By Third Parties [Member] | ||
Counterparty credit risk | ||
Securities Held as Collateral, at Fair Value | $2,325 |
Variable_Interest_Entities_Det
Variable Interest Entities (Details) (USD $) | 3 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Variable Interest Entity [Line Items] | |||
Financing Receivable, Net | $68,040 | $205,180 | |
Investment securities (Note 3) | 41,992 | 47,558 | |
Other Assets | 50,228 | 53,388 | |
Nonrecourse Borrowings | 29,035 | 29,938 | |
Other Liabilities | 68,414 | 70,485 | |
Total revenues of consolidated VIEs | 29,356 | 33,548 | |
Provision for Loan and Lease Losses | 4,859 | 984 | |
Interest And Other Financial Charges | 1,930 | 2,141 | |
Consolidated VIE | |||
Variable Interest Entity [Line Items] | |||
Financing Receivable, Net | 39,867 | 41,552 | |
Current Receivables | 3,323 | 3,537 | |
Investment securities (Note 3) | 3,290 | 3,374 | |
Other Assets | 3,290 | 4,658 | |
Assets VIE | 49,770 | 53,121 | |
Borrowings | 673 | 523 | |
Nonrecourse Borrowings | 27,561 | 28,664 | |
Other Liabilities | 3,381 | 3,521 | |
Liabilities VIE | 31,615 | 32,708 | |
Total revenues of consolidated VIEs | 2,003 | 1,835 | |
Provision for Loan and Lease Losses | 229 | 301 | |
Interest And Other Financial Charges | 91 | 81 | |
Consolidated VIE | Appliances | |||
Variable Interest Entity [Line Items] | |||
Current Receivables | 659 | 686 | |
Other 1 [Member] | |||
Variable Interest Entity [Line Items] | |||
Financing Receivable, Net | 2,842 | 3,064 | |
Current Receivables | 477 | 509 | |
Investment securities (Note 3) | 999 | 1,005 | |
Other Assets | 2,236 | 2,814 | |
Assets VIE | 6,554 | 7,392 | |
Borrowings | 673 | 523 | |
Nonrecourse Borrowings | 451 | 646 | |
Other Liabilities | 1,567 | 1,548 | |
Liabilities VIE | 2,691 | 2,717 | |
Consolidated Securitization Entities [Member] | |||
Variable Interest Entity [Line Items] | |||
Commingled cash amounts owed to CSEs | 2,702 | 2,809 | |
Commingled cash receivable from CSEs | 2,735 | 2,913 | |
Industrial Equipment Joint Venture [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets VIE | 1,587 | ||
Liabilities VIE | 679 | ||
Power Generating And Leasing [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets VIE | 339 | ||
Liabilities VIE | 207 | ||
Insurance Entities [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets VIE | 1,193 | ||
Liabilities VIE | 547 | ||
GECC | |||
Variable Interest Entity [Line Items] | |||
Financing Receivable, Net | 78,064 | 217,382 | |
Investment securities (Note 3) | 41,853 | 47,478 | |
Other Assets | 25,019 | 29,038 | |
Nonrecourse Borrowings | 29,035 | 29,938 | |
Other Liabilities | 14,292 | 16,315 | |
Total revenues of consolidated VIEs | 5,982 | 9,885 | |
Provision for Loan and Lease Losses | 4,859 | 984 | |
Interest And Other Financial Charges | 1,651 | 1,887 | |
GECC | Consolidated VIE | |||
Variable Interest Entity [Line Items] | |||
Financing Receivable, Net | 15,200 | ||
GECC | Trinity [Member] | |||
Variable Interest Entity [Line Items] | |||
Financing Receivable, Net | 0 | 0 | |
Current Receivables | 0 | 0 | |
Investment securities (Note 3) | 2,291 | 2,369 | |
Other Assets | 115 | 17 | |
Assets VIE | 2,406 | 2,386 | |
Borrowings | 0 | 0 | |
Nonrecourse Borrowings | 0 | 0 | |
Other Liabilities | 1,020 | 1,022 | |
Liabilities VIE | 1,020 | 1,022 | |
Intercompany Advances Eliminated In Consolidation | 1,565 | 1,565 | |
GECC | Equipment [Member] | |||
Variable Interest Entity [Line Items] | |||
Financing Receivable, Net | 13,388 | 12,843 | |
Current Receivables | 0 | 0 | |
Investment securities (Note 3) | 0 | 0 | |
Other Assets | 795 | 766 | |
Assets VIE | 14,183 | 13,609 | |
Borrowings | 0 | 0 | |
Nonrecourse Borrowings | 10,616 | 10,359 | |
Other Liabilities | 453 | 593 | |
Liabilities VIE | 11,069 | 10,952 | |
GECC | Credit Card Receivable [Member] | |||
Variable Interest Entity [Line Items] | |||
Financing Receivable, Net | 23,637 | 25,645 | |
Current Receivables | 0 | 0 | |
Investment securities (Note 3) | 0 | 0 | |
Other Assets | 143 | 1,059 | |
Assets VIE | 23,780 | 26,704 | |
Borrowings | 0 | 0 | |
Nonrecourse Borrowings | 13,817 | 14,967 | |
Other Liabilities | 312 | 332 | |
Liabilities VIE | 14,129 | 15,299 | |
GECC | Trade Receivable [Member] | |||
Variable Interest Entity [Line Items] | |||
Financing Receivable, Net | 0 | 0 | |
Current Receivables | 2,846 | 3,028 | |
Investment securities (Note 3) | 0 | 0 | |
Other Assets | 1 | 2 | |
Assets VIE | 2,847 | 3,030 | |
Borrowings | 0 | 0 | |
Nonrecourse Borrowings | 2,677 | 2,692 | |
Other Liabilities | 29 | 26 | |
Liabilities VIE | $2,706 | $2,718 |
Variable_Interest_Entities_Unc
Variable Interest Entities (Unconsolidated Variable Interest Entities) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | ||
In Millions, unless otherwise specified | ||||
Variable Interest Entity [Line Items] | ||||
Financing receivables | $68,040 | $205,180 | ||
Assets of businesses held for sale (Note 2) | 56,549 | 6,300 | ||
Total | 617,631 | [1] | 646,997 | [1] |
Investment in Unconsolidated VIEs [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Real Estate Investments | 0 | |||
Debt Investment Fund | 8,377 | |||
Factored Receivables | 1,848 | |||
Other assets and investment securities | 827 | 8,805 | ||
Financing receivables | 464 | 2,090 | ||
Total investment | 1,291 | 10,895 | ||
Contractual obligations to fund new investments or guarantees | 1,862 | 2,201 | ||
Revolving lines of credit | 108 | 168 | ||
Total | 3,261 | 13,264 | ||
Subsidiaries GECC [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Financing receivables | 78,064 | 217,382 | ||
Assets of businesses held for sale (Note 2) | 53,598 | 3,474 | ||
Total | 476,460 | 501,405 | ||
Subsidiaries GECC [Member] | Held for sale [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Financing receivables | 93,141 | |||
Total | 29,952 | |||
Subsidiaries GECC [Member] | Investment in Unconsolidated VIEs [Member] | Held for sale [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Assets of businesses held for sale (Note 2) | 9,371 | 0 | ||
Total | $12,632 | $13,264 | ||
[1] | (a) Our consolidated assets at March 31, 2015 included total assets of $48,076million of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs. These assets included net financing receivables of $27,831 million, financing receivables held for sale of $14,171 million and investment securities of $3,290 million. Our consolidated liabilities at March 31, 2015 included liabilities of certain VIEs for which the VIE creditors do not have recourse to GE. These liabilities included non-recourse borrowings of consolidated securitization entities (CSEs) of $27,561 million. See Note 16. |
Intercompany_Transactions_Narr
Intercompany Transactions (Narratives) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Net Cash Provided by (Used in) Operating Activities, Continuing Operations | $5,006 | $4,609 |
Net Cash Provided by (Used in) Investing Activities, Continuing Operations | 4,720 | 2,039 |
Net Cash Provided by (Used in) Financing Activities, Continuing Operations | -7,982 | -8,398 |
Combined | ||
Net Cash Provided by (Used in) Operating Activities, Continuing Operations | 3,814 | 4,553 |
Net Cash Provided by (Used in) Investing Activities, Continuing Operations | 6,545 | 3,769 |
Net Cash Provided by (Used in) Financing Activities, Continuing Operations | -8,615 | -10,072 |
Elimination GE Customer Receivables Sold To GECC | ||
Net Cash Provided by (Used in) Operating Activities, Continuing Operations | 1,308 | 731 |
Net Cash Provided by (Used in) Investing Activities, Continuing Operations | -1,274 | -1,185 |
Net Cash Provided by (Used in) Financing Activities, Continuing Operations | -34 | 454 |
Elimination GECC Dividends To GE | ||
Net Cash Provided by (Used in) Operating Activities, Continuing Operations | -450 | -500 |
Net Cash Provided by (Used in) Financing Activities, Continuing Operations | 450 | 500 |
Other Reclassifications and Eliminations | ||
Net Cash Provided by (Used in) Operating Activities, Continuing Operations | 334 | -175 |
Net Cash Provided by (Used in) Investing Activities, Continuing Operations | -551 | -545 |
Net Cash Provided by (Used in) Financing Activities, Continuing Operations | 217 | 720 |
Effect of Elimination | ||
Net Cash Provided by (Used in) Operating Activities, Continuing Operations | 1,192 | 56 |
Net Cash Provided by (Used in) Investing Activities, Continuing Operations | -1,825 | -1,730 |
Net Cash Provided by (Used in) Financing Activities, Continuing Operations | $633 | $1,674 |
Supplemental_Information_About2
Supplemental Information About The Credit Quality Of Financing Receivables And Allowance For Losses (Past Due & Nonaccrual Financing Receivables) (Details) (GECC, USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Past Due Financing Receivables | ||
Over 30 days past due | $2,855 | $7,123 |
Over 90 days past due | 1,193 | 3,528 |
Percent of Financing Receivable, Recorded Investment, Past Due Over 30 Days | 3.50% | 3.20% |
Percent of Financing Receivable, Recorded Investment, Past Due Over 90 Days | 1.50% | 1.60% |
Nonaccrual Financing Receivables | ||
Nonaccrual loans | 345 | 3,971 |
Percent Financing Receivable, Recorded Investment, Nonaccrual Status | 0.40% | 1.80% |
CLL | ||
Past Due Financing Receivables | ||
Over 30 days past due | 636 | 1,986 |
Over 90 days past due | 137 | 1,033 |
Nonaccrual Financing Receivables | ||
Nonaccrual loans | 25 | 2,000 |
Energy Financial Services | ||
Past Due Financing Receivables | ||
Over 30 days past due | 10 | 0 |
Over 90 days past due | 0 | 0 |
Nonaccrual Financing Receivables | ||
Nonaccrual loans | 63 | 68 |
GE Capital Aviation Services (GECAS) | ||
Past Due Financing Receivables | ||
Over 30 days past due | 0 | 0 |
Over 90 days past due | 0 | 0 |
Nonaccrual Financing Receivables | ||
Nonaccrual loans | 255 | 419 |
Commercial | ||
Past Due Financing Receivables | ||
Over 30 days past due | 646 | 1,986 |
Over 90 days past due | 137 | 1,033 |
Nonaccrual Financing Receivables | ||
Nonaccrual loans | 343 | 2,487 |
Commercial | Nonaccrual Financing Receivables | ||
Past Due Financing Receivables | ||
Loans which are 90+ days past due and still accruing interest | 1,054 | 1,231 |
Nonaccrual Financing Receivables | ||
Amount of nonaccrual loans currently paying in accordance with contractual terms | 321 | 1,549 |
Consumer | ||
Past Due Financing Receivables | ||
Over 30 days past due | 2,209 | 5,137 |
Over 90 days past due | 1,056 | 2,495 |
Nonaccrual Financing Receivables | ||
Nonaccrual loans | 2 | 1,484 |
Consumer | Nonaccrual Financing Receivables | ||
Nonaccrual Financing Receivables | ||
Amount of nonaccrual loans currently paying in accordance with contractual terms | $179 |
Supplemental_Information_About3
Supplemental Information About The Credit Quality Of Financing Receivables And Allowance For Losses (Impaired Loans) (Details) (GECC, USD $) | 3 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
Troubled Debt Restructuring | |||||
Impaired Loans | |||||
Total impaired loans | $810 | $810 | |||
No Related Allowance | |||||
Impaired Loans | |||||
Recorded investment in loans | 232 | 232 | 2,812 | ||
Unpaid principal balance | 238 | 238 | 4,967 | ||
Average investment in loans | 1,522 | 2,959 | |||
Related Allowance | |||||
Impaired Loans | |||||
Recorded investment in loans | 741 | 741 | 2,463 | ||
Unpaid principal balance | 640 | 640 | 3,232 | ||
Average investment in loans | 1,601 | 3,304 | |||
Allowance for losses (specific reserves) | 249 | 249 | 553 | ||
Impaired Loans | |||||
Impaired Loans | |||||
Allowance for losses (specific reserves) | 249 | 249 | 553 | ||
Total impaired loans | 973 | 973 | 5,275 | ||
Non-impaired financing receivables | 80,440 | 80,440 | 217,021 | ||
General reserves | 3,100 | 3,100 | 4,361 | ||
Impaired Loans | Discounted Cash Flow | |||||
Impaired Loans | |||||
Total impaired loans | 834 | 834 | 3,915 | ||
Impaired Loans | Collateral Value Method | |||||
Impaired Loans | |||||
Total impaired loans | 139 | 139 | 1,360 | ||
CLL | Troubled Debt Restructuring | |||||
Impaired Loans | |||||
Changes In Loans Modified As Troubled Debt Restructurings | 2 | 1,869 | |||
Loans Modified As Troubled Debt Restructuring That Have Subsequently Experienced Payment Default | 2 | 19 | 633 | 1,391 | |
CLL | No Related Allowance | |||||
Impaired Loans | |||||
Recorded investment in loans | 8 | 8 | 2,292 | ||
Unpaid principal balance | 8 | 8 | 4,397 | ||
Average investment in loans | 1,150 | 2,725 | |||
CLL | Related Allowance | |||||
Impaired Loans | |||||
Recorded investment in loans | 6 | 6 | 406 | ||
Unpaid principal balance | 6 | 6 | 1,125 | ||
Average investment in loans | 206 | 717 | |||
Allowance for losses (specific reserves) | 5 | 5 | 133 | ||
Energy Financial Services | No Related Allowance | |||||
Impaired Loans | |||||
Recorded investment in loans | 54 | 54 | 53 | ||
Unpaid principal balance | 55 | 55 | 54 | ||
Average investment in loans | 53 | 26 | |||
Energy Financial Services | Related Allowance | |||||
Impaired Loans | |||||
Recorded investment in loans | 9 | 9 | 15 | ||
Unpaid principal balance | 9 | 9 | 15 | ||
Average investment in loans | 12 | 24 | |||
Allowance for losses (specific reserves) | 0 | 0 | 12 | ||
GE Capital Aviation Services (GECAS) | Troubled Debt Restructuring | |||||
Impaired Loans | |||||
Total impaired loans | 82 | 82 | |||
GE Capital Aviation Services (GECAS) | No Related Allowance | |||||
Impaired Loans | |||||
Recorded investment in loans | 170 | 170 | 329 | ||
Unpaid principal balance | 175 | 175 | 337 | ||
Average investment in loans | 250 | 88 | |||
GE Capital Aviation Services (GECAS) | Related Allowance | |||||
Impaired Loans | |||||
Recorded investment in loans | 0 | 0 | 0 | ||
Unpaid principal balance | 0 | 0 | 0 | ||
Average investment in loans | 0 | 15 | |||
Allowance for losses (specific reserves) | 0 | 0 | 0 | ||
Other | No Related Allowance | |||||
Impaired Loans | |||||
Recorded investment in loans | 0 | 0 | 0 | ||
Unpaid principal balance | 0 | 0 | 0 | ||
Average investment in loans | 0 | 0 | |||
Other | Related Allowance | |||||
Impaired Loans | |||||
Recorded investment in loans | 0 | 0 | 0 | ||
Unpaid principal balance | 0 | 0 | 0 | ||
Average investment in loans | 0 | 1 | |||
Allowance for losses (specific reserves) | 0 | 0 | 0 | ||
Commercial | No Related Allowance | |||||
Impaired Loans | |||||
Recorded investment in loans | 232 | 232 | 2,674 | ||
Unpaid principal balance | 238 | 238 | 4,788 | ||
Average investment in loans | 1,453 | 2,839 | |||
Commercial | Related Allowance | |||||
Impaired Loans | |||||
Recorded investment in loans | 15 | 15 | 421 | ||
Unpaid principal balance | 15 | 15 | 1,140 | ||
Average investment in loans | 218 | 757 | |||
Allowance for losses (specific reserves) | 5 | 5 | 145 | ||
Commercial | Impaired Loans | |||||
Impaired Loans | |||||
Average investment in loans | 1,671 | 3,596 | |||
Allowance for losses (specific reserves) | 5 | 5 | 145 | ||
Interest income recognized | 6 | 57 | 178 | ||
Total impaired loans | 247 | 247 | 3,095 | ||
Non-impaired financing receivables | 22,918 | 22,918 | 118,381 | ||
General reserves | 89 | 89 | 758 | ||
Consumer | Troubled Debt Restructuring | |||||
Impaired Loans | |||||
Total impaired loans | 726 | 726 | |||
Changes In Loans Modified As Troubled Debt Restructurings | 869 | 1,339 | |||
Loans Modified As Troubled Debt Restructuring That Have Subsequently Experienced Payment Default | 23 | 57 | |||
Consumer | No Related Allowance | |||||
Impaired Loans | |||||
Recorded investment in loans | 0 | 0 | 138 | ||
Unpaid principal balance | 0 | 0 | 179 | ||
Average investment in loans | 69 | 120 | |||
Consumer | Related Allowance | |||||
Impaired Loans | |||||
Recorded investment in loans | 726 | 726 | 2,042 | ||
Unpaid principal balance | 625 | 625 | 2,092 | ||
Average investment in loans | 1,383 | 2,547 | |||
Allowance for losses (specific reserves) | 244 | 244 | 408 | ||
Consumer | Impaired Loans | |||||
Impaired Loans | |||||
Average investment in loans | 1,452 | 2,667 | |||
Allowance for losses (specific reserves) | 244 | 244 | 408 | ||
Interest income recognized | 23 | 46 | 126 | ||
Interest income recognized on a cash basis | 1 | 5 | |||
Total impaired loans | 726 | 726 | 2,180 | ||
Non-impaired financing receivables | 57,522 | 57,522 | 98,640 | ||
General reserves | 3,011 | 3,011 | 3,603 | ||
Consumer | Credit Card Loans | |||||
Impaired Loans | |||||
Changes In Loans Modified As Troubled Debt Restructurings | $120 |
Supplemental_Information_About4
Supplemental Information About The Credit Quality Of Financing Receivables And Allowance For Losses (Credit Quality) (Details) (GECC, USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
NumberOfCustomer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 81,413 | $222,296 |
Secured Financing Receivables Portfolio | Secured Credit Quality Indicator | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 22,694 | 120,535 |
Other Financing Receivables [Member] | Secured Financing Receivables Portfolio | Risk Level, Low | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 142 | 2,468 |
Other Financing Receivables [Member] | Secured Financing Receivables Portfolio | Risk Level, Medium | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 428 | 2,320 |
Other Financing Receivables [Member] | Secured Financing Receivables Portfolio | Risk Level, High | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 22,124 | 115,747 |
US installment and revolving credit | Secured Financing Receivables Portfolio | Score 661 or Higher | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 40,761 | 43,466 |
US installment and revolving credit | Secured Financing Receivables Portfolio | Score 601 to 660 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 11,681 | 11,865 |
US installment and revolving credit | Secured Financing Receivables Portfolio | Score 600 Or Less [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 4,486 | 4,532 |
CLL | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 12,555 | 110,503 |
CLL | Secured Financing Receivables Portfolio | Secured Credit Quality Indicator | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 12,201 | 109,587 |
CLL | Secured Financing Receivables Portfolio | Risk Level, Low | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 42 | 2,334 |
CLL | Secured Financing Receivables Portfolio | Risk Level, Medium | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 28 | 2,023 |
CLL | Secured Financing Receivables Portfolio | Risk Level, High | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 12,131 | 105,230 |
Energy Financial Services | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 2,666 | 2,580 |
Energy Financial Services | Secured Financing Receivables Portfolio | Secured Credit Quality Indicator | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 2,549 | 2,555 |
Energy Financial Services | Secured Financing Receivables Portfolio | Risk Level, Low | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 0 | 16 |
Energy Financial Services | Secured Financing Receivables Portfolio | Risk Level, Medium | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 171 | 60 |
Energy Financial Services | Secured Financing Receivables Portfolio | Risk Level, High | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 2,378 | 2,479 |
GE Capital Aviation Services (GECAS) | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 7,817 | 8,263 |
GE Capital Aviation Services (GECAS) | Secured Financing Receivables Portfolio | Secured Credit Quality Indicator | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 7,817 | 8,263 |
GE Capital Aviation Services (GECAS) | Secured Financing Receivables Portfolio | Risk Level, Low | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 100 | 118 |
GE Capital Aviation Services (GECAS) | Secured Financing Receivables Portfolio | Risk Level, Medium | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 229 | 237 |
GE Capital Aviation Services (GECAS) | Secured Financing Receivables Portfolio | Risk Level, High | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 7,488 | 7,908 |
Commercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 23,165 | 121,476 |
Commercial | Unsecured Financing Receivables Portfolio | Risk Level, Low | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 201 | |
Commercial | Unsecured Financing Receivables Portfolio | Risk Level, Medium | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 290 | 408 |
Commercial | Unsecured Financing Receivables Portfolio | Risk Level, High | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 181 | 332 |
Commercial | Other Financing Receivables [Member] | Secured Financing Receivables Portfolio | Secured Credit Quality Indicator | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 127 | 130 |
Commercial | Other Financing Receivables [Member] | Secured Financing Receivables Portfolio | Risk Level, Low | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 0 | 0 |
Commercial | Other Financing Receivables [Member] | Secured Financing Receivables Portfolio | Risk Level, Medium | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 0 | 0 |
Commercial | Other Financing Receivables [Member] | Secured Financing Receivables Portfolio | Risk Level, High | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 127 | 130 |
Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 58,248 | 100,820 |
Consumer | Other Financing Receivables [Member] | Risk Level, Low | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 168 | 382 |
Consumer | Other Financing Receivables [Member] | Risk Level, Medium | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 114 | 276 |
Consumer | Other Financing Receivables [Member] | Risk Level, High | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases receivable, Gross | 1,038 | $5,006 |
Consumer | US installment and revolving credit | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number Of Consumer Financing Receivable Customers Across US Including Private Label Credit Card And Sales Financing | 60,000,000 | |
Percentage of customers with no metropolitan statistical area | 5.00% | |
Percentage Of US Consumer Financing Receivables Related To Credit Cards Loans | 66.00% | |
Percentage Of US Consumer Financing Receivables Related To Sales Finance Receivables | 34.00% |