Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Billions, except Share data, unless otherwise specified | Dec. 31, 2013 | Feb. 01, 2014 | Jun. 30, 2013 |
Document and Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Entity Registrant Name | 'General Electric Company | ' | ' |
Entity Central Index Key | '0000040545 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 10,033,130,000 | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Public Float | ' | ' | $233.80 |
Statement_of_Earnings
Statement of Earnings (USD $) | 12 Months Ended | |||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Revenues and other income | ' | ' | ' | |||
Sales of goods | $71,873 | $72,991 | $66,874 | |||
Sales of services | 28,669 | 27,158 | 27,648 | |||
Other income | 3,108 | 2,563 | 5,063 | |||
GECC earnings from continuing operations | 0 | 0 | 0 | |||
GECC revenues from services | 42,395 | 43,972 | 46,957 | |||
Total revenues and other income | 146,045 | 146,684 | 146,542 | |||
Costs and expenses | ' | ' | ' | |||
Cost of goods sold | 57,867 | 56,785 | 51,455 | |||
Cost of services sold | 19,274 | 17,525 | 16,823 | |||
Interest and other financial charges | 10,116 | 12,407 | 14,422 | |||
Investment contracts, insurance losses and insurance annuity benefits | 2,676 | 2,857 | 2,912 | |||
Provision for losses on financing receivables | 4,818 | 3,832 | 3,930 | |||
Other costs and expenses | 35,143 | 35,897 | 36,841 | |||
Total costs and expenses | 129,894 | 129,303 | 126,383 | |||
Earnings (loss) from continuing operations before income taxes | 16,151 | 17,381 | 20,159 | |||
Benefit (provision) for income taxes | -676 | -2,534 | -5,745 | |||
Earnings from continuing operations | 15,475 | 14,847 | 14,414 | |||
Earnings (loss) from discontinued operations, net of taxes | -2,120 | -983 | 29 | |||
Net earnings (loss) | 13,355 | 13,864 | 14,443 | |||
Less: net earnings (loss) attributable to noncontrolling interests | 298 | 223 | 292 | |||
Net earnings (loss) attributable to the Company | 13,057 | 13,641 | 14,151 | |||
Preferred stock dividends declared | 0 | 0 | -1,031 | |||
Net earnings (loss) attributable to GE common shareowners | 13,057 | 13,641 | 13,120 | |||
Amounts attributable to the Company | ' | ' | ' | |||
Earnings (loss) from continuing operations | 15,177 | 14,624 | 14,122 | |||
Earnings (loss) from discontinued operations, net of taxes | -2,120 | -983 | 29 | |||
Net earnings (loss) attributable to the Company | 13,057 | 13,641 | 14,151 | |||
Earnings from continuing operations | ' | ' | ' | |||
Diluted earnings per share | $1.47 | $1.38 | $1.23 | |||
Basic earnings per share | $1.48 | $1.39 | $1.23 | |||
Net earnings (loss) | ' | ' | ' | |||
Diluted earnings per share | $1.27 | $1.29 | $1.23 | |||
Basic earnings per share | $1.28 | $1.29 | $1.24 | |||
Dividends declared per common share | $0.79 | $0.70 | $0.61 | |||
Subsidiaries [Member] | ' | ' | ' | |||
Revenues and other income | ' | ' | ' | |||
Sales of goods | 71,951 | [1] | 73,304 | [1] | 67,011 | [1] |
Sales of services | 29,063 | [1] | 27,571 | [1] | 28,024 | [1] |
Other income | 2,886 | [1] | 2,657 | [1] | 5,268 | [1] |
GECC earnings from continuing operations | 8,258 | [1] | 7,345 | [1] | 6,480 | [1] |
GECC revenues from services | 0 | [1] | 0 | [1] | 0 | [1] |
Total revenues and other income | 112,158 | [1] | 110,877 | [1] | 106,783 | [1] |
Costs and expenses | ' | ' | ' | |||
Cost of goods sold | 57,962 | [1] | 57,118 | [1] | 51,605 | [1] |
Cost of services sold | 19,668 | [1] | 17,938 | [1] | 17,199 | [1] |
Interest and other financial charges | 1,333 | [1] | 1,353 | [1] | 1,299 | [1] |
Investment contracts, insurance losses and insurance annuity benefits | 0 | [1] | 0 | [1] | 0 | [1] |
Provision for losses on financing receivables | 0 | [1] | 0 | [1] | 0 | [1] |
Other costs and expenses | 16,105 | [1] | 17,671 | [1] | 17,554 | [1] |
Total costs and expenses | 95,068 | [1] | 94,080 | [1] | 87,657 | [1] |
Earnings (loss) from continuing operations before income taxes | 17,090 | [1] | 16,797 | [1] | 19,126 | [1] |
Benefit (provision) for income taxes | -1,668 | [1] | -2,013 | [1] | -4,839 | [1] |
Earnings from continuing operations | 15,422 | [1] | 14,784 | [1] | 14,287 | [1] |
Earnings (loss) from discontinued operations, net of taxes | -2,120 | [1] | -983 | [1] | 29 | [1] |
Net earnings (loss) | 13,302 | [1] | 13,801 | [1] | 14,316 | [1] |
Less: net earnings (loss) attributable to noncontrolling interests | 245 | [1] | 160 | [1] | 165 | [1] |
Net earnings (loss) attributable to the Company | 13,057 | [1] | 13,641 | [1] | 14,151 | [1] |
Preferred stock dividends declared | 0 | [1] | 0 | [1] | -1,031 | [1] |
Net earnings (loss) attributable to GE common shareowners | 13,057 | [1] | 13,641 | [1] | 13,120 | [1] |
Amounts attributable to the Company | ' | ' | ' | |||
Earnings (loss) from continuing operations | 15,177 | [1] | 14,624 | [1] | 14,122 | [1] |
Earnings (loss) from discontinued operations, net of taxes | -2,120 | [1] | -983 | [1] | 29 | [1] |
Net earnings (loss) attributable to the Company | 13,057 | [1] | 13,641 | [1] | 14,151 | [1] |
Subsidiaries GECC [Member] | ' | ' | ' | |||
Revenues and other income | ' | ' | ' | |||
Sales of goods | 126 | 119 | 148 | |||
Sales of services | 0 | 0 | 0 | |||
Other income | 0 | 0 | 0 | |||
GECC earnings from continuing operations | 0 | 0 | 0 | |||
GECC revenues from services | 43,941 | 45,245 | 48,176 | |||
Total revenues and other income | 44,067 | 45,364 | 48,324 | |||
Costs and expenses | ' | ' | ' | |||
Cost of goods sold | 108 | 99 | 135 | |||
Cost of services sold | 0 | 0 | 0 | |||
Interest and other financial charges | 9,267 | 11,596 | 13,760 | |||
Investment contracts, insurance losses and insurance annuity benefits | 2,779 | 2,984 | 3,059 | |||
Provision for losses on financing receivables | 4,818 | 3,832 | 3,930 | |||
Other costs and expenses | 19,776 | 18,924 | 19,927 | |||
Total costs and expenses | 36,748 | 37,435 | 40,811 | |||
Earnings (loss) from continuing operations before income taxes | 7,319 | 7,929 | 7,513 | |||
Benefit (provision) for income taxes | 992 | -521 | -906 | |||
Earnings from continuing operations | 8,311 | 7,408 | 6,607 | |||
Earnings (loss) from discontinued operations, net of taxes | -2,054 | -1,130 | 30 | |||
Net earnings (loss) | 6,257 | 6,278 | 6,637 | |||
Less: net earnings (loss) attributable to noncontrolling interests | 53 | 63 | 127 | |||
Net earnings (loss) attributable to the Company | 6,204 | 6,215 | 6,510 | |||
Preferred stock dividends declared | -298 | -123 | 0 | |||
Net earnings (loss) attributable to GE common shareowners | 5,906 | 6,092 | 6,510 | |||
Amounts attributable to the Company | ' | ' | ' | |||
Earnings (loss) from continuing operations | 8,258 | 7,345 | 6,480 | |||
Earnings (loss) from discontinued operations, net of taxes | -2,054 | -1,130 | 30 | |||
Net earnings (loss) attributable to the Company | $6,204 | $6,215 | $6,510 | |||
[1] | (a)Â Â Â Â Â Â Â Â 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. |
Statement_of_Comprehensive_Inc
Statement of Comprehensive Income (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' |
Net earnings | $13,355 | $13,864 | $14,443 |
Less: net earnings (loss) attributable to noncontrolling interests | 298 | 223 | 292 |
Net earnings (loss) attributable to the Company | 13,057 | 13,641 | 14,151 |
Other comprehensive income (loss) | ' | ' | ' |
Investment securities | -374 | 705 | 608 |
Currency translation adjustments | -308 | 300 | 180 |
Cash flow hedges | 467 | 453 | 118 |
Benefit plans | 11,300 | 2,299 | -7,040 |
Other comprehensive income (loss) | 11,085 | 3,757 | -6,134 |
Less: Other comprehensive income (loss) attributable to noncontrolling interests | -25 | 13 | -15 |
Other comprehensive income (loss) attributable to Company | 11,110 | 3,744 | -6,119 |
Comprehensive income | 24,440 | 17,621 | 8,309 |
Less: Comprehensive income (loss) attributable to noncontrolling interests | 273 | 236 | 277 |
Comprehensive income attributable to Company | $24,167 | $17,385 | $8,032 |
Statement_of_Changes_in_Shareo
Statement of Changes in Shareowners' Equity (USD $) | 12 Months Ended | ||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Statement Of Changes In Shareowners Equity [Abstract] | ' | ' | ' | ||
GE shareowners' equity balance at January 1 | $123,026 | $116,438 | $118,936 | ||
Net earnings (loss) attributable to the Company | 13,057 | 13,641 | 14,151 | ||
Dividends and other transactions with shareowners | -8,061 | -7,372 | -7,502 | ||
Other comprehensive income (loss) attributable to Company | 11,110 | 3,744 | -6,119 | ||
Net sales (purchases) of shares for treasury | -7,990 | -2,802 | 169 | ||
Changes in other capital | -576 | -623 | -3,197 | ||
Ending balance at December 31 | 130,566 | 123,026 | 116,438 | ||
Noncontrolling interests | 6,217 | [1] | 5,444 | [1] | 1,696 |
Total equity balance at December 31 | $136,783 | $128,470 | $118,134 | ||
[1] | (c)Â Â Â Â Â Â Â Â Included accumulated other comprehensive income attributable to noncontrolling interests of $(180) million and $(155) million at December 31, 2013 and 2012, respectively. |
Statement_of_Financial_Positio
Statement of Financial Position (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | ||||
Assets | ' | ' | ||
Cash and equivalents | $88,555 | $77,268 | ||
Investment securities | 43,981 | 48,510 | ||
Current receivables | 21,388 | 19,902 | ||
Inventories | 17,325 | 15,374 | ||
Financing receivables - net | 241,940 | 257,238 | ||
Other GECC receivables | 9,114 | 7,864 | ||
Property, plant and equipment - net | 68,827 | 68,633 | ||
Investment in GECC | 0 | 0 | ||
Goodwill | 77,648 | 73,114 | ||
Other intangible assets - net | 14,310 | 11,980 | ||
All other assets | 70,808 | 101,644 | ||
Deferred income taxes | 275 | -54 | ||
Assets of businesses held for sale | 50 | 211 | ||
Assets of discontinued operations | 2,339 | 3,315 | ||
Total assets(a) | 656,560 | [1] | 684,999 | [1] |
Liabilities and equity | ' | ' | ||
Short-term borrowings | 77,890 | 101,392 | ||
Accounts payable, principally trade accounts | 16,471 | 15,654 | ||
Progress collections and price adjustments accrued | 13,125 | 10,877 | ||
Dividends payable | 2,220 | 1,980 | ||
Other GE current liabilities | 13,381 | 14,895 | ||
Non-recourse borrowings of consolidated securitization entities | 30,124 | 30,123 | ||
Bank deposits | 53,361 | 46,200 | ||
Long-term borrowings | 221,665 | 236,084 | ||
Investment contracts, insurance liabilities and insurance annuity benefits | 26,544 | 28,268 | ||
All other liabilities | 61,057 | 68,166 | ||
Liabilities of businesses held for sale | 6 | 157 | ||
Liabilities of discontinued operations | 3,933 | 2,733 | ||
Total liabilities(a) | 519,777 | [1] | 556,529 | [1] |
GECC preferred stock (50,000 and 40,000 shares outstanding at year-end 2013 and 2012, respectively) | 0 | 0 | ||
Common stock (10,060,881,000 and 10,405,625,000 shares outstanding at year-end 2013 and 2012, respectively) | 702 | 702 | ||
Accumulated other comprehensive income (loss) attributable to the Company(b) | ' | ' | ||
Investment securities | 307 | [2] | 677 | [2] |
Currency translation adjustments | 126 | [2] | 412 | [2] |
Cash flow hedges | -257 | [2] | -722 | [2] |
Benefit plans | -9,296 | [2] | -20,597 | [2] |
Other capital | 32,494 | 33,070 | ||
Retained earnings | 149,051 | 144,055 | ||
Less common stock held in treasury | -42,561 | -34,571 | ||
Total Company shareowners' equity | 130,566 | 123,026 | ||
Noncontrolling interests(c) | 6,217 | [3] | 5,444 | [3] |
Total equity | 136,783 | 128,470 | ||
Total liabilities and equity | 656,560 | 684,999 | ||
Subsidiaries [Member] | ' | ' | ||
Assets | ' | ' | ||
Cash and equivalents | 13,682 | [4] | 15,509 | [4] |
Investment securities | 323 | [4] | 74 | [4] |
Current receivables | 10,970 | [4] | 9,274 | [4] |
Inventories | 17,257 | [4] | 15,295 | [4] |
Financing receivables - net | 0 | [4] | 0 | [4] |
Other GECC receivables | 0 | [4] | 0 | [4] |
Property, plant and equipment - net | 17,574 | [4] | 16,033 | [4] |
Investment in GECC | 77,745 | [4] | 77,930 | [4] |
Goodwill | 51,453 | [4] | 46,143 | [4] |
Other intangible assets - net | 13,180 | [4] | 10,700 | [4] |
All other assets | 23,708 | [4] | 39,534 | [4] |
Deferred income taxes | 5,061 | [4] | 5,946 | [4] |
Assets of businesses held for sale | 0 | [4] | 0 | [4] |
Assets of discontinued operations | 9 | [4] | 9 | [4] |
Total assets(a) | 230,962 | [4] | 236,447 | [4] |
Liabilities and equity | ' | ' | ||
Short-term borrowings | 1,841 | [4] | 6,041 | [4] |
Accounts payable, principally trade accounts | 16,353 | [4] | 14,259 | [4] |
Progress collections and price adjustments accrued | 13,152 | [4] | 10,877 | [4] |
Dividends payable | 2,220 | [4] | 1,980 | [4] |
Other GE current liabilities | 13,381 | [4] | 14,896 | [4] |
Non-recourse borrowings of consolidated securitization entities | 0 | [4] | 0 | [4] |
Bank deposits | 0 | [4] | 0 | [4] |
Long-term borrowings | 11,515 | [4] | 11,428 | [4] |
Investment contracts, insurance liabilities and insurance annuity benefits | 0 | [4] | 0 | [4] |
All other liabilities | 40,955 | [4] | 53,093 | [4] |
Liabilities of businesses held for sale | 0 | [4] | 0 | [4] |
Liabilities of discontinued operations | 143 | [4] | 70 | [4] |
Total liabilities(a) | 99,560 | [4] | 112,644 | [4] |
GECC preferred stock (50,000 and 40,000 shares outstanding at year-end 2013 and 2012, respectively) | 0 | [4] | 0 | [4] |
Common stock (10,060,881,000 and 10,405,625,000 shares outstanding at year-end 2013 and 2012, respectively) | 702 | [4] | 702 | [4] |
Accumulated other comprehensive income (loss) attributable to the Company(b) | ' | ' | ||
Investment securities | 307 | [4] | 677 | [4] |
Currency translation adjustments | 126 | [4] | 412 | [4] |
Cash flow hedges | -257 | [4] | -722 | [4] |
Benefit plans | -9,296 | [4] | -20,597 | [4] |
Other capital | 32,494 | [4] | 33,070 | [4] |
Retained earnings | 149,051 | [4] | 144,055 | [4] |
Less common stock held in treasury | -42,561 | [4] | -34,571 | [4] |
Total Company shareowners' equity | 130,566 | [4] | 123,026 | [4] |
Noncontrolling interests(c) | 836 | [4] | 777 | [4] |
Total equity | 131,402 | [4] | 123,803 | [4] |
Total liabilities and equity | 230,962 | [4] | 236,447 | [4] |
Subsidiaries GECC [Member] | ' | ' | ||
Assets | ' | ' | ||
Cash and equivalents | 74,873 | 61,853 | ||
Investment securities | 43,662 | 48,439 | ||
Current receivables | 0 | 0 | ||
Inventories | 68 | 79 | ||
Financing receivables - net | 253,029 | 268,161 | ||
Other GECC receivables | 16,513 | 13,891 | ||
Property, plant and equipment - net | 51,607 | 52,967 | ||
Investment in GECC | 0 | 0 | ||
Goodwill | 26,195 | 26,971 | ||
Other intangible assets - net | 1,136 | 1,287 | ||
All other assets | 47,366 | 62,186 | ||
Deferred income taxes | -4,786 | -6,000 | ||
Assets of businesses held for sale | 50 | 211 | ||
Assets of discontinued operations | 2,330 | 3,306 | ||
Total assets(a) | 512,043 | 533,351 | ||
Liabilities and equity | ' | ' | ||
Short-term borrowings | 77,298 | 95,940 | ||
Accounts payable, principally trade accounts | 6,549 | 6,256 | ||
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 | 30,124 | 30,123 | ||
Bank deposits | 53,361 | 46,200 | ||
Long-term borrowings | 210,279 | 224,776 | ||
Investment contracts, insurance liabilities and insurance annuity benefits | 26,979 | 28,696 | ||
All other liabilities | 20,531 | 15,943 | ||
Liabilities of businesses held for sale | 6 | 157 | ||
Liabilities of discontinued operations | 3,790 | 2,663 | ||
Total liabilities(a) | 428,917 | 450,754 | ||
GECC preferred stock (50,000 and 40,000 shares outstanding at year-end 2013 and 2012, respectively) | 0 | 0 | ||
Common stock (10,060,881,000 and 10,405,625,000 shares outstanding at year-end 2013 and 2012, respectively) | 0 | 0 | ||
Accumulated other comprehensive income (loss) attributable to the Company(b) | ' | ' | ||
Investment securities | 309 | 673 | ||
Currency translation adjustments | -687 | -131 | ||
Cash flow hedges | -293 | -746 | ||
Benefit plans | -363 | -736 | ||
Other capital | 32,563 | 31,586 | ||
Retained earnings | 51,165 | 51,244 | ||
Less common stock held in treasury | 0 | 0 | ||
Total Company shareowners' equity | 82,694 | 81,890 | ||
Noncontrolling interests(c) | 432 | 707 | ||
Total equity | 83,126 | 82,597 | ||
Total liabilities and equity | $512,043 | $533,351 | ||
[1] | (a)Â Â Â Â Â Â Â Â Our consolidated assets at December 31, 2013 include total assets of $47,367 million of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs. These assets include net financing receivables of $41,420 million and investment securities of $3,830 million. Our consolidated liabilities at December 31, 2013 include liabilities of certain VIEs for which the VIE creditors do not have recourse to GE. These liabilities include non-recourse borrowings of consolidated securitization entities (CSEs) of $28,574 million. See Note 23. | |||
[2] | (b)Â Â Â Â Â Â Â Â The sum of accumulated other comprehensive income attributable to GE was $(9,120) million and $(20,230) million at December 31, 2013 and 2012, respectively. | |||
[3] | (c)Â Â Â Â Â Â Â Â Included accumulated other comprehensive income attributable to noncontrolling interests of $(180) million and $(155) million at December 31, 2013 and 2012, respectively. | |||
[4] | (a)Â Â Â Â Â Â Â Â 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. |
Statement_of_Financial_Positio1
Statement of Financial Position (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, except Share data, unless otherwise specified | ||
Balance Sheet Related Disclosures [Abstract] | ' | ' |
Preferred Stock, Shares Outstanding | 50,000 | 40,000 |
Common Stock, Shares, Outstanding | 10,060,881,000 | 10,405,625,000 |
Assets of consolidated variable interest entities that can only be used to settle the liabilities of those VIEs | $47,367 | ' |
Net financing receivables of certain VIEs that can only be used to settle the liabilities of those VIEs | 41,420 | ' |
Investment securities of certain VIEs that can only be used to settle the liabilities of those VIEs | 3,830 | ' |
Nonrecourse Borrowings Of Consolidated Securitization Entities Where VIE Creditors Do Not Have Recourse To Company | 28,574 | ' |
Sum of accumulated other comprehensive income - net | -9,120 | -20,230 |
Accumulated other comprehensive income - net attributable to noncontrolling interests | ($180) | ($155) |
Statement_of_Cash_Flows
Statement of Cash Flows (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Cash flows - operating activities | ' | ' | ' | |||
Net earnings | $13,355 | $13,864 | $14,443 | |||
Less: net earnings (loss) attributable to noncontrolling interests | 298 | 223 | 292 | |||
Net earnings (loss) attributable to the Company | 13,057 | 13,641 | 14,151 | |||
(Earnings) loss from discontinued operations, net of taxes | 2,120 | 983 | -29 | |||
Adjustments to reconcile net earnings attributable to the Company to cash provided from operating activities | ' | ' | ' | |||
Depreciation and amortization of property, plant and equipment | 9,762 | 9,192 | 8,986 | |||
Earnings from continuing operations retained by GECC(b) | 0 | 0 | 0 | |||
Deferred income taxes | -3,295 | -1,152 | -204 | |||
Decrease (increase) in GE current receivables | -485 | -879 | -670 | |||
Decrease (increase) in inventories | -1,368 | -1,274 | -1,168 | |||
Increase (decrease) in accounts payable | 360 | -437 | 1,204 | |||
Increase (decrease) in GE progress collections | 1,893 | -920 | -1,146 | |||
Provision for losses on GECC financing receivables | 4,818 | 3,832 | 3,930 | |||
All other operating activities | 2,175 | 8,029 | 7,057 | |||
Cash from (used for) operating activities - continuing operations | 29,037 | 31,015 | 32,111 | |||
Cash from (used for) operating activities - discontinued operations | -458 | 316 | 1,248 | |||
Cash from (used for) operating activities | 28,579 | 31,331 | 33,359 | |||
Cash flows - investing activities | ' | ' | ' | |||
Additions to property, plant and equipment | -13,458 | -15,119 | -12,637 | |||
Dispositions of property, plant and equipment | 5,883 | 6,184 | 5,867 | |||
Net decrease (increase) in GECC financing receivables | 2,715 | 6,979 | 14,785 | |||
Proceeds from sales of discontinued operations | 528 | 227 | 8,950 | |||
Proceeds from principal business dispositions | 3,324 | 3,618 | 8,877 | |||
Proceeds from sales of associated companies | 16,699 | 0 | 0 | |||
Net cash from (payments for) principal businesses purchased | -1,642 | -1,456 | -11,202 | |||
All other investing activities | 14,625 | 11,157 | 6,527 | |||
Cash from (used for) investing activities - continuing operations | 28,674 | 11,590 | 21,167 | |||
Cash from (used for) investing activities - discontinued operations | 443 | -288 | -1,285 | |||
Cash from (used for) investing activities | 29,117 | 11,302 | 19,882 | |||
Cash flows - financing activities | ' | ' | ' | |||
Net increase (decrease) in borrowings (maturities of 90 days or less) | -14,230 | -2,231 | 5,951 | |||
Net increase (decrease) in bank deposits | 2,197 | 2,450 | 6,652 | |||
Newly issued debt (maturities longer than 90 days) | 45,392 | 63,019 | 43,847 | |||
Repayments and other reductions (maturities longer than 90 days) | -61,461 | -103,942 | -85,706 | |||
Proceeds from issuance of preferred stock | 990 | 3,960 | 0 | |||
Repayment of preferred stock | 0 | 0 | -3,300 | |||
Net dispositions (purchases) of GE shares for treasury | -9,278 | -4,164 | -1,456 | |||
Dividends paid to shareowners | -7,821 | -7,189 | -6,458 | |||
Purchase of subsidiary shares from noncontrolling interest | 0 | 0 | -4,578 | |||
All other financing activities | -1,418 | -2,958 | -1,867 | |||
Cash from (used for) financing activities - continuing operations | -45,629 | -51,055 | -46,915 | |||
Cash from (used for) financing activities - discontinued operations | 56 | -19 | 52 | |||
Cash from (used for) financing activities | -45,573 | -51,074 | -46,863 | |||
Effect of currency exchange rate changes on cash and equivalents | -795 | 1,278 | -841 | |||
Increase (decrease) in cash and equivalents | 11,328 | -7,163 | 5,537 | |||
Cash and equivalents at beginning of year | 77,459 | 84,622 | 79,085 | |||
Cash and equivalents at end of year | 88,787 | 77,459 | 84,622 | |||
Less cash and equivalents of discontinued operations at end of year | 232 | 191 | 182 | |||
Cash and equivalents of continuing operations at end of year | 88,555 | 77,268 | 84,440 | |||
Supplemental disclosure of cash flows information | ' | ' | ' | |||
Cash paid during the year for interest | -8,690 | -12,717 | -15,571 | |||
Cash recovered (paid) during the year for income taxes | -2,487 | -3,237 | -2,919 | |||
Subsidiaries [Member] | ' | ' | ' | |||
Cash flows - operating activities | ' | ' | ' | |||
Net earnings | 13,302 | [1] | 13,801 | [1] | 14,316 | [1] |
Less: net earnings (loss) attributable to noncontrolling interests | 245 | [1] | 160 | [1] | 165 | [1] |
Net earnings (loss) attributable to the Company | 13,057 | [1] | 13,641 | [1] | 14,151 | [1] |
(Earnings) loss from discontinued operations, net of taxes | 2,120 | [1] | 983 | [1] | -29 | [1] |
Adjustments to reconcile net earnings attributable to the Company to cash provided from operating activities | ' | ' | ' | |||
Depreciation and amortization of property, plant and equipment | 2,449 | [1] | 2,291 | [1] | 2,068 | [1] |
Earnings from continuing operations retained by GECC(b) | -2,273 | [1],[2] | -919 | [1],[2] | -6,480 | [1],[2] |
Deferred income taxes | -2,571 | [1] | -294 | [1] | -327 | [1] |
Decrease (increase) in GE current receivables | -1,432 | [1] | 1,105 | [1] | -346 | [1] |
Decrease (increase) in inventories | -1,351 | [1] | -1,204 | [1] | -1,122 | [1] |
Increase (decrease) in accounts payable | 809 | [1] | 158 | [1] | 1,938 | [1] |
Increase (decrease) in GE progress collections | 1,919 | [1] | -920 | [1] | -1,146 | [1] |
Provision for losses on GECC financing receivables | 0 | [1] | 0 | [1] | 0 | [1] |
All other operating activities | 1,528 | [1] | 2,985 | [1] | 3,350 | [1] |
Cash from (used for) operating activities - continuing operations | 14,255 | [1] | 17,826 | [1] | 12,057 | [1] |
Cash from (used for) operating activities - discontinued operations | -2 | [1] | 0 | [1] | 0 | [1] |
Cash from (used for) operating activities | 14,253 | [1] | 17,826 | [1] | 12,057 | [1] |
Cash flows - investing activities | ' | ' | ' | |||
Additions to property, plant and equipment | -3,680 | [1] | -3,937 | [1] | -2,957 | [1] |
Dispositions of property, plant and equipment | 0 | [1] | 0 | [1] | 0 | [1] |
Net decrease (increase) in GECC financing receivables | 0 | [1] | 0 | [1] | 0 | [1] |
Proceeds from sales of discontinued operations | 0 | [1] | 0 | [1] | 0 | [1] |
Proceeds from principal business dispositions | 1,316 | [1] | 540 | [1] | 6,254 | [1] |
Proceeds from sales of associated companies | 16,699 | [1] | 0 | [1] | 0 | [1] |
Net cash from (payments for) principal businesses purchased | -8,026 | [1] | -1,456 | [1] | -11,152 | [1] |
All other investing activities | -1,488 | [1] | -564 | [1] | -384 | [1] |
Cash from (used for) investing activities - continuing operations | 4,821 | [1] | -5,417 | [1] | -8,239 | [1] |
Cash from (used for) investing activities - discontinued operations | 2 | [1] | 0 | [1] | 0 | [1] |
Cash from (used for) investing activities | 4,823 | [1] | -5,417 | [1] | -8,239 | [1] |
Cash flows - financing activities | ' | ' | ' | |||
Net increase (decrease) in borrowings (maturities of 90 days or less) | 949 | [1] | -890 | [1] | 1,058 | [1] |
Net increase (decrease) in bank deposits | 0 | [1] | 0 | [1] | 0 | [1] |
Newly issued debt (maturities longer than 90 days) | 512 | [1] | 6,961 | [1] | 177 | [1] |
Repayments and other reductions (maturities longer than 90 days) | -5,032 | [1] | -34 | [1] | -270 | [1] |
Proceeds from issuance of preferred stock | 0 | [1] | 0 | [1] | 0 | [1] |
Repayment of preferred stock | 0 | [1] | 0 | [1] | -3,300 | [1] |
Net dispositions (purchases) of GE shares for treasury | -9,278 | [1] | -4,164 | [1] | -1,456 | [1] |
Dividends paid to shareowners | -7,821 | [1] | -7,189 | [1] | -6,458 | [1] |
Purchase of subsidiary shares from noncontrolling interest | 0 | [1] | 0 | [1] | -4,303 | [1] |
All other financing activities | -211 | [1] | 32 | [1] | -75 | [1] |
Cash from (used for) financing activities - continuing operations | -20,881 | [1] | -5,284 | [1] | -14,627 | [1] |
Cash from (used for) financing activities - discontinued operations | 0 | [1] | 0 | [1] | 0 | [1] |
Cash from (used for) financing activities | -20,881 | [1] | -5,284 | [1] | -14,627 | [1] |
Effect of currency exchange rate changes on cash and equivalents | -22 | [1] | 2 | [1] | -50 | [1] |
Increase (decrease) in cash and equivalents | -1,827 | [1] | 7,127 | [1] | -10,859 | [1] |
Cash and equivalents at beginning of year | 15,509 | [1] | 8,382 | [1] | 19,241 | [1] |
Cash and equivalents at end of year | 13,682 | [1] | 15,509 | [1] | 8,382 | [1] |
Less cash and equivalents of discontinued operations at end of year | 0 | [1] | 0 | [1] | 0 | [1] |
Cash and equivalents of continuing operations at end of year | 13,682 | [1] | 15,509 | [1] | 8,382 | [1] |
Supplemental disclosure of cash flows information | ' | ' | ' | |||
Cash paid during the year for interest | -812 | [1] | -1,182 | [1] | -1,177 | [1] |
Cash recovered (paid) during the year for income taxes | -4,753 | [1] | -2,987 | [1] | -2,303 | [1] |
Subsidiaries GECC [Member] | ' | ' | ' | |||
Cash flows - operating activities | ' | ' | ' | |||
Net earnings | 6,257 | 6,278 | 6,637 | |||
Less: net earnings (loss) attributable to noncontrolling interests | 53 | 63 | 127 | |||
Net earnings (loss) attributable to the Company | 6,204 | 6,215 | 6,510 | |||
(Earnings) loss from discontinued operations, net of taxes | 2,054 | 1,130 | -30 | |||
Adjustments to reconcile net earnings attributable to the Company to cash provided from operating activities | ' | ' | ' | |||
Depreciation and amortization of property, plant and equipment | 7,313 | 6,901 | 6,918 | |||
Earnings from continuing operations retained by GECC(b) | 0 | [2] | 0 | [2] | 0 | [2] |
Deferred income taxes | -724 | -858 | 123 | |||
Decrease (increase) in GE current receivables | 0 | 0 | 0 | |||
Decrease (increase) in inventories | 33 | -27 | 15 | |||
Increase (decrease) in accounts payable | 73 | -880 | 19 | |||
Increase (decrease) in GE progress collections | 0 | 0 | 0 | |||
Provision for losses on GECC financing receivables | 4,818 | 3,832 | 3,930 | |||
All other operating activities | 99 | 5,418 | 3,127 | |||
Cash from (used for) operating activities - continuing operations | 19,870 | 21,731 | 20,612 | |||
Cash from (used for) operating activities - discontinued operations | -456 | 316 | 1,248 | |||
Cash from (used for) operating activities | 19,414 | 22,047 | 21,860 | |||
Cash flows - investing activities | ' | ' | ' | |||
Additions to property, plant and equipment | -9,978 | -11,879 | -9,869 | |||
Dispositions of property, plant and equipment | 5,883 | 6,184 | 5,867 | |||
Net decrease (increase) in GECC financing receivables | 3,589 | 5,490 | 14,525 | |||
Proceeds from sales of discontinued operations | 528 | 227 | 8,950 | |||
Proceeds from principal business dispositions | 1,983 | 2,863 | 2,623 | |||
Proceeds from sales of associated companies | 0 | 0 | 0 | |||
Net cash from (payments for) principal businesses purchased | 6,384 | 0 | -50 | |||
All other investing activities | 14,972 | 11,794 | 7,733 | |||
Cash from (used for) investing activities - continuing operations | 23,361 | 14,679 | 29,779 | |||
Cash from (used for) investing activities - discontinued operations | 441 | -288 | -1,285 | |||
Cash from (used for) investing activities | 23,802 | 14,391 | 28,494 | |||
Cash flows - financing activities | ' | ' | ' | |||
Net increase (decrease) in borrowings (maturities of 90 days or less) | -13,892 | -1,401 | 4,393 | |||
Net increase (decrease) in bank deposits | 2,197 | 2,450 | 6,652 | |||
Newly issued debt (maturities longer than 90 days) | 44,888 | 55,841 | 43,267 | |||
Repayments and other reductions (maturities longer than 90 days) | -56,429 | -103,908 | -85,436 | |||
Proceeds from issuance of preferred stock | 990 | 3,960 | 0 | |||
Repayment of preferred stock | 0 | 0 | 0 | |||
Net dispositions (purchases) of GE shares for treasury | 0 | 0 | 0 | |||
Dividends paid to shareowners | -6,283 | -6,549 | 0 | |||
Purchase of subsidiary shares from noncontrolling interest | 0 | 0 | -275 | |||
All other financing activities | -909 | -2,867 | -1,792 | |||
Cash from (used for) financing activities - continuing operations | -29,438 | -52,474 | -33,191 | |||
Cash from (used for) financing activities - discontinued operations | 56 | -19 | 52 | |||
Cash from (used for) financing activities | -29,382 | -52,493 | -33,139 | |||
Effect of currency exchange rate changes on cash and equivalents | -773 | 1,276 | -791 | |||
Increase (decrease) in cash and equivalents | 13,061 | -14,779 | 16,424 | |||
Cash and equivalents at beginning of year | 62,044 | 76,823 | 60,399 | |||
Cash and equivalents at end of year | 75,105 | 62,044 | 76,823 | |||
Less cash and equivalents of discontinued operations at end of year | 232 | 191 | 182 | |||
Cash and equivalents of continuing operations at end of year | 74,873 | 61,853 | 76,641 | |||
Supplemental disclosure of cash flows information | ' | ' | ' | |||
Cash paid during the year for interest | -8,146 | -12,172 | -15,018 | |||
Cash recovered (paid) during the year for income taxes | $2,266 | ($250) | ($616) | |||
[1] | (a)Â Â Â Â Â Â Â Â 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. | |||||
[2] | Represents GECC earnings from continuing operations attributable to the Company, net of GECC dividends paid to GE. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2013 | |
Summary of Significant Accounting Policies [Abstract] | ' |
Summary Of Significant Accounting Policies | ' |
Notes to Consolidated Financial Statements | |
NOTE 1. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Accounting Principles | |
Our financial statements are prepared in conformity with U.S. generally accepted accounting principles (GAAP). | |
Consolidation | |
Our financial statements consolidate all of our affiliates – entities in which we have a controlling financial interest, most often because we hold a majority voting interest. To determine if we hold a controlling financial interest in an entity, we first evaluate if we are required to apply the variable interest entity (VIE) model to the entity, otherwise the entity is evaluated under the voting interest model. | |
Where we hold current or potential rights that give us the power to direct the activities of a VIE that most significantly impact the VIE's economic performance combined with a variable interest that gives us the right to receive potentially significant benefits or the obligation to absorb potentially significant losses, we have a controlling financial interest in that VIE. Rights held by others to remove the party with power over the VIE are not considered unless one party can exercise those rights unilaterally. When changes occur to the design of an entity, we reconsider whether it is subject to the VIE model. We continuously evaluate whether we have a controlling financial interest in a VIE. | |
We hold a controlling financial interest in other entities where we currently hold, directly or indirectly, more than 50% of the voting rights or where we exercise control through substantive participating rights or as a general partner. Where we are a general partner, we consider substantive removal rights held by other partners in determining if we hold a controlling financial interest. We reevaluate whether we have a controlling financial interest in these entities when our voting or substantive participating rights change. | |
Associated companies are unconsolidated VIEs and other entities in which we do not have a controlling financial interest, but over which we have significant influence, most often because we hold a voting interest of 20% to 50%. Associated companies are accounted for as equity method investments. Results of associated companies are presented on a one-line basis. Investments in, and advances to, associated companies are presented on a one-line basis in the caption “All other assets” in our Statement of Financial Position, net of allowance for losses, that represents our best estimate of probable losses inherent in such assets. | |
Financial Statement Presentation | |
We have reclassified certain prior-year amounts to conform to the current-year's presentation. | |
Financial data and related measurements are presented in the following categories: | |
GE – This represents the adding together of all affiliates other than General Electric Capital Corporation (GECC), whose continuing operations are presented on a one-line basis, giving effect to the elimination of transactions among such affiliates. | |
GECC – This represents the adding together of all affiliates of GECC, giving effect to the elimination of transactions among such affiliates. | |
Consolidated – This represents the adding together of GE and GECC, giving effect to the elimination of transactions between GE and GECC. | |
Operating Segments – These comprise our eight businesses, focused on the broad markets they serve: Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Appliances & Lighting (formerly Home & Business Solutions) and GE Capital. Prior-period information has been reclassified to be consistent with how we managed our businesses in 2013. | |
Unless otherwise indicated, information in these notes to consolidated financial statements relates to continuing operations. Certain of our operations have been presented as discontinued. See Note 2. | |
The effects of translating to U.S. dollars the financial statements of non-U.S. affiliates whose functional currency is the local currency are included in shareowners' equity. Asset and liability accounts are translated at year-end exchange rates, while revenues and expenses are translated at average rates for the respective periods. | |
Preparing financial statements in conformity with U.S. GAAP requires us to make estimates based on assumptions about current, and for some estimates future, economic and market conditions (for example, unemployment, market liquidity, the real estate market, etc.), which affect reported amounts and related disclosures in our financial statements. Although our current estimates contemplate current conditions and how we expect them to change in the future, as appropriate, it is reasonably possible that in 2014 actual conditions could be worse than anticipated in those estimates, which could materially affect our results of operations and financial position. Among other effects, such changes could result in future impairments of investment securities, goodwill, intangibles and long-lived assets, incremental losses on financing receivables, establishment of valuation allowances on deferred tax assets and increased tax liabilities. | |
Sales of Goods and Services | |
We record all sales of goods and services only when a firm sales agreement is in place, delivery has occurred or services have been rendered and collectibility of the fixed or determinable sales price is reasonably assured. | |
Arrangements for the sale of goods and services sometimes include multiple components. Most of our multiple component arrangements involve the sale of goods and services in the Healthcare segment. Our arrangements with multiple components usually involve an upfront deliverable of large machinery or equipment and future service deliverables such as installation, commissioning, training or the future delivery of ancillary products. In most cases, the relative values of the undelivered components are not significant to the overall arrangement and are typically delivered within three to six months after the core product has been delivered. In such agreements, selling price is determined for each component and any difference between the total of the separate selling prices and total contract consideration (i.e., discount) is allocated pro rata across each of the components in the arrangement. The value assigned to each component is objectively determined and obtained primarily from sources such as the separate selling price for that or a similar item or from competitor prices for similar items. If such evidence is not available, we use our best estimate of selling price, which is established consistent with the pricing strategy of the business and considers product configuration, geography, customer type, and other market specific factors. | |
Except for goods sold under long-term agreements, we recognize sales of goods under the provisions of U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin (SAB) 104, Revenue Recognition. We often sell consumer products and computer hardware and software products with a right of return. We use our accumulated experience to estimate and provide for such returns when we record the sale. In situations where arrangements include customer acceptance provisions based on seller or customer-specified objective criteria, we recognize revenue when we have reliably demonstrated that all specified acceptance criteria have been met or when formal acceptance occurs, respectively. In arrangements where we provide goods for trial and evaluation purposes, we only recognize revenue after customer acceptance occurs. Unless otherwise noted, we do not provide for anticipated losses before we record sales. | |
We recognize revenue on agreements for sales of goods and services under power generation unit and uprate contracts, nuclear fuel assemblies, larger oil drilling equipment projects, aeroderivative unit contracts, military development contracts, locomotive production contracts, and long-term construction projects, using long-term construction and production contract accounting. We estimate total long-term contract revenue net of price concessions as well as total contract costs. For goods sold under power generation unit and uprate contracts, nuclear fuel assemblies, aeroderivative unit contracts, military development contracts and locomotive production contracts, we recognize sales as we complete major contract-specified deliverables, most often when customers receive title to the goods or accept the services as performed. For larger oil drilling equipment projects and long-term construction projects, we recognize sales based on our progress toward contract completion measured by actual costs incurred in relation to our estimate of total expected costs. We measure long-term contract revenues by applying our contract-specific estimated margin rates to incurred costs. We routinely update our estimates of future costs for agreements in process and report any cumulative effects of such adjustments in current operations. We provide for any loss that we expect to incur on these agreements when that loss is probable. | |
We recognize revenue upon delivery for sales of aircraft engines, military propulsion equipment and related spare parts not sold under long-term product services agreements. Delivery of commercial engines, non-U.S. military equipment and all related spare parts occurs on shipment; delivery of military propulsion equipment sold to the U.S. government or agencies thereof occurs upon receipt of a Material Inspection and Receiving Report, DD Form 250 or Memorandum of Shipment. Commercial aircraft engines are complex equipment manufactured to customer order under a variety of sometimes complex, long-term agreements. We measure sales of commercial aircraft engines by applying our contract-specific estimated margin rates to incurred costs. We routinely update our estimates of future revenues and costs for commercial aircraft engine agreements in process and report any cumulative effects of such adjustments in current operations. Significant components of our revenue and cost estimates include price concessions and performance-related guarantees as well as material, labor and overhead costs. We measure revenue for military propulsion equipment and spare parts not subject to long-term product services agreements based on the specific contract on a specifically measured output basis. We provide for any loss that we expect to incur on these agreements when that loss is probable; consistent with industry practice, for commercial aircraft engines, we make such provision only if such losses are not recoverable from future highly probable sales of spare parts and services for those engines. | |
We sell product services under long-term product maintenance or extended warranty agreements in our Aviation, Power & Water, Oil & Gas and Transportation segments, where costs of performing services are incurred on other than a straight-line basis. We also sell product services in our Healthcare segment, where such costs generally are expected to be on a straight-line basis. For the Aviation, Power & Water, Oil & Gas and Transportation agreements, we recognize related sales based on the extent of our progress toward completion measured by actual costs incurred in relation to total expected costs. We routinely update our estimates of future costs for agreements in process and report any cumulative effects of such adjustments in current operations. For the Healthcare agreements, we recognize revenues on a straight-line basis and expense related costs as incurred. We provide for any loss that we expect to incur on any of these agreements when that loss is probable. | |
GECC Revenues from Services (Earned Income) | |
We use the interest method to recognize income on loans. Interest on loans includes origination, commitment and other non-refundable fees related to funding (recorded in earned income on the interest method). We stop accruing interest at the earlier of the time at which collection of an account becomes doubtful or the account becomes 90 days past due, with the exception of consumer credit card accounts. Beginning in the fourth quarter of 2013, we continue to accrue interest on consumer credit cards until the accounts are written off in the period the account becomes 180 days past due. Previously, we stopped accruing interest on consumer credit cards when the account became 90 days past due. Previously recognized interest income that was accrued but not collected from the borrower is reversed, unless the terms of the loan agreement permit capitalization of accrued interest to the principal balance. Although we stop accruing interest in advance of payments, we recognize interest income as cash is collected when appropriate, provided the amount does not exceed that which would have been earned at the historical effective interest rate; otherwise, payments received are applied to reduce the principal balance of the loan. | |
We resume accruing interest on nonaccrual, non-restructured commercial loans only when (a) payments are brought current according to the loan's original terms and (b) future payments are reasonably assured. When we agree to restructured terms with the borrower, we resume accruing interest only when it is reasonably assured that we will recover full contractual payments, and such loans pass underwriting reviews equivalent to those applied to new loans. We resume accruing interest on nonaccrual consumer loans when the customer's account is less than 90 days past due and collection of such amounts is probable. Interest accruals on modified consumer loans that are not considered to be troubled debt restructurings (TDRs) may return to current status (re-aged) only after receipt of at least three consecutive minimum monthly payments or the equivalent cumulative amount, subject to a re-aging limitation of once a year, or twice in a five-year period. | |
We recognize financing lease income on the interest method to produce a level yield on funds not yet recovered. Estimated unguaranteed residual values are based upon management's best estimates of the value of the leased asset at the end of the lease term. We use various sources of data in determining this estimate, including information obtained from third parties, which is adjusted for the attributes of the specific asset under lease. Guarantees of residual values by unrelated third parties are considered part of minimum lease payments. Significant assumptions we use in estimating residual values include estimated net cash flows over the remaining lease term, anticipated results of future remarketing, and estimated future component part and scrap metal prices, discounted at an appropriate rate. | |
We recognize operating lease income on a straight-line basis over the terms of underlying leases. | |
Fees include commitment fees related to loans that we do not expect to fund and line-of-credit fees. We record these fees in earned income on a straight-line basis over the period to which they relate. We record syndication fees in earned income at the time related services are performed, unless significant contingencies exist. | |
Depreciation and Amortization | |
The cost of GE manufacturing plant and equipment is depreciated over its estimated economic life. U.S. assets are depreciated using an accelerated method based on a sum-of-the-years digits formula; non-U.S. assets are generally depreciated on a straight-line basis. | |
The cost of GECC equipment leased to others on operating leases is depreciated on a straight-line basis to estimated residual value over the lease term or over the estimated economic life of the equipment. | |
The cost of GECC acquired real estate investments is depreciated on a straight-line basis to the estimated salvage value over the expected useful life or the estimated proceeds upon sale of the investment at the end of the expected holding period if that approach produces a higher measure of depreciation expense. | |
The cost of individually significant customer relationships is amortized in proportion to estimated total related sales; cost of other intangible assets is generally amortized on a straight-line basis over the asset's estimated economic life. We review long-lived assets for impairment whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. See Notes 7 and 8. | |
Losses on Financing Receivables | |
Losses on financing receivables are recognized when they are incurred, which requires us to make our best estimate of probable losses inherent in the portfolio. The method for calculating the best estimate of losses depends on the size, type and risk characteristics of the related financing receivable. Such an estimate requires consideration of historical loss experience, adjusted for current conditions, and judgments about the probable effects of relevant observable data, including present economic conditions such as delinquency rates, financial health of specific customers and market sectors, collateral values (including housing price indices as applicable), and the present and expected future levels of interest rates. The underlying assumptions, estimates and assessments we use to provide for losses are updated periodically to reflect our view of current conditions and are subject to the regulatory examination process, which can result in changes to our assumptions. Changes in such estimates can significantly affect the allowance and provision for losses. It is possible that we will experience credit losses that are different from our current estimates. Write-offs are deducted from the allowance for losses when we judge the principal to be uncollectible and subsequent recoveries are added to the allowance at the time cash is received on a written-off account. | |
"Impaired" loans are defined as larger-balance or restructured loans for which it is probable that the lender will be unable to collect all amounts due according to the original contractual terms of the loan agreement. | |
“Troubled debt restructurings” (TDRs) are those loans for which we have granted a concession to a borrower experiencing financial difficulties where we do not receive adequate compensation. Such loans are classified as impaired, and are individually reviewed for specific reserves. | |
“Nonaccrual financing receivables” are those on which we have stopped accruing interest. We stop accruing interest at the earlier of the time at which collection of an account becomes doubtful or the account becomes 90 days past due, with the exception of consumer credit card accounts, for which we continue to accrue interest until the accounts are written off in the period that the account becomes 180 days past due. Although we stop accruing interest in advance of payments, we recognize interest income as cash is collected when appropriate provided the amount does not exceed that which would have been earned at the historical effective interest rate. Recently restructured financing receivables are not considered delinquent when payments are brought current according to the restructured terms, but may remain classified as nonaccrual until there has been a period of satisfactory payment performance by the borrower and future payments are reasonably assured of collection. | |
“Nonearning financing receivables” are a subset of nonaccrual financing receivables for which cash payments are not being received or for which we are on the cost recovery method of accounting (i.e., any payments are accounted for as a reduction of principal). This category excludes loans purchased at a discount (unless they have deteriorated post acquisition). These loans are initially recorded at fair value and accrete interest income over the estimated life of the loan based on reasonably estimable cash flows even if the underlying loans are contractually delinquent at acquisition. | |
Beginning in the fourth quarter of 2013, we revised our methods for classifying financing receivables as nonaccrual and nonearning to more closely align with regulatory guidance. Under the revised methods, we continue to accrue interest on consumer credit cards until the accounts are written off in the period the account becomes 180 days past due. Previously, we stopped accruing interest on consumer credit cards when the account became 90 days past due. In addition, the revised methods limit the use of the cash basis of accounting for nonaccrual financing receivables. | |
As a result of these revisions, consumer credit card receivables of $1,051 million that were previously classified as both nonaccrual and nonearning were returned to accrual status in the fourth quarter of 2013. In addition, $1,524 million of Real Estate and CLL financing receivables previously classified as nonaccrual, paying in accordance with contractual terms and accounted for on the cash basis, were returned to accrual status, while $2,174 million of financing receivables previously classified as nonaccrual and accounted for on the cash basis (primarily in Real Estate and CLL) were placed into the nonearning category based on our assessment of the short-term outlook for resolution through payoff or refinance. | |
Given that the revised methods result in nonaccrual and nonearning amounts that are substantially the same, we plan to discontinue the reporting of nonearning financing receivables, one of our internal performance metrics, and report selected ratios related to nonaccrual financing receivables, in the first quarter of 2014. | |
“Delinquent” receivables are those that are 30 days or more past due based on their contractual terms. | |
The same financing receivable may meet more than one of the definitions above. Accordingly, these categories are not mutually exclusive and it is possible for a particular loan to meet the definitions of a TDR, impaired loan, nonaccrual loan and nonearning loan and be included in each of these categories. The categorization of a particular loan also may not be indicative of the potential for loss. | |
Our consumer loan portfolio consists of smaller-balance, homogeneous loans, including credit card receivables, installment loans, auto loans and leases and residential mortgages. We collectively evaluate each portfolio for impairment quarterly. The allowance for losses on these receivables is established through a process that estimates the probable losses inherent in the portfolio based upon statistical analyses of portfolio data. These analyses include migration analysis, in which historical delinquency and credit loss experience is applied to the current aging of the portfolio, together with other analyses that reflect current trends and conditions. We also consider our historical loss experience to date based on actual defaulted loans and overall portfolio indicators including nonearning loans, trends in loan volume and lending terms, credit policies and other observable environmental factors such as unemployment rates and home price indices. | |
Our commercial loan and lease portfolio consists of a variety of loans and leases, including both larger-balance, non-homogeneous loans and leases and smaller-balance homogeneous loans and leases. Losses on such loans and leases are recorded when probable and estimable. We routinely evaluate our entire portfolio for potential specific credit or collection issues that might indicate an impairment. | |
For larger-balance, non-homogeneous loans and leases, we consider the financial status, payment history, collateral value, industry conditions and guarantor support related to specific customers. Any delinquencies or bankruptcies are indications of potential impairment requiring further assessment of collectibility. We routinely receive financial as well as rating agency reports on our customers, and we elevate for further attention those customers whose operations we judge to be marginal or deteriorating. We also elevate customers for further attention when we observe a decline in collateral values for asset-based loans. While collateral values are not always available, when we observe such a decline, we evaluate relevant markets to assess recovery alternatives – for example, for real estate loans, relevant markets are local; for commercial aircraft loans, relevant markets are global. | |
Measurement of the loss on our impaired commercial loans is based on the present value of expected future cash flows discounted at the loan's effective interest rate or the fair value of collateral, net of expected selling costs, if the loan is determined to be collateral dependent. We determine whether a loan is collateral dependent if the repayment of the loan is expected to be provided solely by the underlying collateral. Our review process can often result in reserves being established in advance of a modification of terms or designation as a TDR. After providing for specific incurred losses, we then determine an allowance for losses that have been incurred in the balance of the portfolio but cannot yet be identified to a specific loan or lease. This estimate is based upon various statistical analyses considering historical and projected default rates and loss severity and aging, as well as our view on current market and economic conditions. It is prepared by each respective line of business. For Real Estate, this includes assessing the probability of default and the loss given default based on loss history of our portfolio for loans with similar loan metrics and attributes. | |
We consider multiple factors in evaluating the adequacy of our allowance for losses on Real Estate financing receivables, including loan-to-value ratios, collateral values at the individual loan level, debt service coverage ratios, delinquency status, and economic factors including interest rate and real estate market forecasts. In addition to these factors, we evaluate a Real Estate loan for impairment classification if its projected loan-to-value ratio at maturity is in excess of 100%, even if the loan is currently paying in accordance with its contractual terms. Substantially all of the loans in the Real Estate portfolio are considered collateral dependent and are measured for impairment based on the fair value of collateral. If foreclosure is deemed probable or if repayment is dependent solely on the sale of collateral, we also include estimated selling costs in our reserve. Collateral values for our Real Estate loans are determined based upon internal cash flow estimates discounted at an appropriate rate and corroborated by external appraisals, as appropriate. Collateral valuations are routinely monitored and updated annually, or more frequently for changes in collateral, market and economic conditions. Further discussion on determination of fair value is in the Fair Value Measurements section below. | |
Experience is not available for new products; therefore, while we are developing that experience, we set loss allowances based on our experience with the most closely analogous products in our portfolio. | |
Our loss mitigation strategy intends 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 TDR. | |
We utilize certain loan modification programs for borrowers experiencing temporary financial difficulties in our Consumer loan portfolio. These loan modification programs are primarily concentrated in our non-U.S. residential mortgage and non-U.S. installment and revolving portfolios and include short-term (three months or less) interest rate reductions and payment deferrals, which were not part of the terms of the original contract. We sold our U.S. residential mortgage business in 2007 and, as such, do not participate in the U.S. government-sponsored mortgage modification programs. | |
Our allowance for losses on financing receivables on these modified consumer loans is determined based upon a formulaic approach that estimates the probable losses inherent in the portfolio based upon statistical analyses of the portfolio. Data related to redefault experience is also considered in our overall reserve adequacy review. Once the loan has been modified, it returns to current status (re-aged) only after receipt of at least three consecutive minimum monthly payments or the equivalent cumulative amount, subject to a re-aging limitation of once a year, or twice in a five-year period in accordance with the Federal Financial Institutions Examination Council guidelines on Uniform Retail Credit Classification and Account Management policy issued in June 2000. We believe that the allowance for losses would not be materially different had we not re-aged these accounts. | |
For commercial loans, we evaluate changes in terms and conditions to determine whether those changes meet the criteria for classification as a TDR on a loan-by-loan basis. In Commercial Lending and Leasing (CLL), these changes primarily include: changes to covenants, short-term payment deferrals and maturity extensions. For these changes, we receive economic consideration, including additional fees and/or increased interest rates, and evaluate them under our normal underwriting standards and criteria. Changes to Real Estate's loans primarily include maturity extensions, principal payment acceleration, changes to collateral terms, and cash sweeps, which are in addition to, or sometimes in lieu of, fees and rate increases. The determination of whether these changes to the terms and conditions of our commercial loans meet the TDR criteria includes our consideration of all of the relevant facts and circumstances. When the borrower is experiencing financial difficulty, we carefully evaluate these changes to determine whether they meet the form of a concession. In these circumstances, if the change is deemed to be a concession, we classify the loan as a TDR. | |
When we repossess collateral in satisfaction of a loan, we write down the receivable against the allowance for losses. Repossessed collateral is included in the caption “All other assets” in the Statement of Financial Position and carried at the lower of cost or estimated fair value less costs to sell. | |
For Consumer loans, we write off unsecured closed-end installment loans when they are 120 days contractually past due and unsecured open-ended revolving loans at 180 days contractually past due. We write down consumer loans secured by collateral other than residential real estate when such loans are 120 days past due. Consumer loans secured by residential real estate (both revolving and closed-end loans) are written down to the fair value of collateral, less costs to sell, no later than when they become 180 days past due. Unsecured consumer loans in bankruptcy are written off within 60 days of notification of filing by the bankruptcy court or within contractual write-off periods, whichever occurs earlier. | |
Write-offs on larger-balance impaired commercial loans are based on amounts deemed uncollectible and are reviewed quarterly. Write-offs are determined based on the consideration of many factors, such as expectations of the workout plan or restructuring of the loan, valuation of the collateral and the prioritization of our claim in bankruptcy. Write-offs are recognized against the allowance for losses at the earlier of transaction confirmation (for example, discounted pay-off, restructuring, foreclosure, etc.) or not later than 360 days after initial recognition of a specific reserve for a collateral dependent loan. If foreclosure is probable, the write-off is determined based on the fair value of the collateral less costs to sell. Smaller-balance, homogeneous commercial loans are written off at the earlier of when deemed uncollectible or at 180 days past due. | |
Partial Sales of Business Interests | |
Gains or losses on sales of affiliate shares where we retain a controlling financial interest are recorded in equity. Gains or losses on sales that result in our loss of a controlling financial interest are recorded in earnings along with remeasurement gains or losses on any investments in the entity that we retained. | |
Cash and Equivalents | |
Debt securities and money market instruments with original maturities of three months or less are included in cash equivalents unless designated as available-for-sale and classified as investment securities. | |
Investment Securities | |
We report investments in debt and marketable equity securities, and certain other equity securities, at fair value. See Note 21 for further information on fair value. Unrealized gains and losses on available-for-sale investment securities are included in shareowners' equity, net of applicable taxes and other adjustments. We regularly review investment securities for impairment using both quantitative and qualitative criteria. | |
For debt securities, if we do not intend to sell the security or it is not more likely than not that we will be required to sell the security before recovery of our amortized cost, we evaluate other qualitative criteria to determine whether we do not expect to recover the amortized cost basis of the security, such as the financial health of and specific prospects for the issuer, including whether the issuer is in compliance with the terms and covenants of the security. We also evaluate quantitative criteria including determining whether there has been an adverse change in expected future cash flows. If we do not expect to recover the entire amortized cost basis of the security, we consider the security to be other-than-temporarily impaired, and we record the difference between the security's amortized cost basis and its recoverable amount in earnings and the difference between the security's recoverable amount and fair value in other comprehensive income. If we intend to sell the security or it is more likely than not we will be required to sell the security before recovery of its amortized cost basis, the security is also considered other-than-temporarily impaired and we recognize the entire difference between the security's amortized cost basis and its fair value in earnings. For equity securities, we consider the length of time and magnitude of the amount that each security is in an unrealized loss position. If we do not expect to recover the entire amortized cost basis of the security, we consider the security to be other-than-temporarily impaired, and we record the difference between the security's amortized cost basis and its fair value in earnings. | |
Realized gains and losses are accounted for on the specific identification method. Unrealized gains and losses on investment securities classified as trading and certain retained interests are included in earnings. | |
Inventories | |
All inventories are stated at the lower of cost or realizable values. Cost for a significant portion of GE U.S. inventories is determined on a last-in, first-out (LIFO) basis. Cost of other GE inventories is determined on a first-in, first-out (FIFO) basis. LIFO was used for 39% and 37% of GE inventories at December 31, 2013 and 2012, respectively. GECC inventories consist of finished products held for sale; cost is determined on a FIFO basis. | |
Goodwill and Other Intangible Assets | |
We do not amortize goodwill, but test it at least annually for impairment at the reporting unit level. A reporting unit is the operating segment, or one level below that operating segment (the component level) if discrete financial information is prepared and regularly reviewed by segment management. However, components are aggregated as a single reporting unit if they have similar economic characteristics. We recognize an impairment charge if the carrying amount of a reporting unit exceeds its fair value and the carrying amount of the reporting unit's goodwill exceeds the implied fair value of that goodwill. We use a market approach, when available and appropriate, or the income approach, or a combination of both to establish fair values. When a portion of a reporting unit is disposed, goodwill is allocated to the gain or loss on disposition based on the relative fair values of the business or businesses disposed and the portion of the reporting unit that will be retained. | |
We amortize the cost of other intangibles over their estimated useful lives unless such lives are deemed indefinite. The cost of intangible assets is generally amortized on a straight-line basis over the asset's estimated economic life, except that individually significant customer-related intangible assets are amortized in relation to total related sales. Amortizable intangible assets are tested for impairment based on undiscounted cash flows and, if impaired, written down to fair value based on either discounted cash flows or appraised values. Intangible assets with indefinite lives are tested annually for impairment and written down to fair value as required. | |
GECC Investment Contracts, Insurance Liabilities and Insurance Annuity Benefits | |
Certain entities that we consolidate provide guaranteed investment contracts, primarily to states, municipalities and municipal authorities. | |
Our insurance activities include providing insurance and reinsurance for life and health risks and providing certain annuity products. Two primary product groups are provided: traditional insurance contracts and investment contracts. Insurance contracts are contracts with significant mortality and/or morbidity risks, while investment contracts are contracts without such risks. | |
For short-duration insurance contracts, including accident and health insurance, we report premiums as earned income over the terms of the related agreements, generally on a pro-rata basis. For traditional long-duration insurance contracts including long-term care, term, whole life and annuities payable for the life of the annuitant, we report premiums as earned income when due. | |
Premiums received on investment contracts (including annuities without significant mortality risk) are not reported as revenues but rather as deposit liabilities. We recognize revenues for charges and assessments on these contracts, mostly for mortality, contract initiation, administration and surrender. Amounts credited to policyholder accounts are charged to expense. | |
Liabilities for traditional long-duration insurance contracts represent the present value of such benefits less the present value of future net premiums based on mortality, morbidity, interest and other assumptions at the time the policies were issued or acquired. Liabilities for investment contracts equal the account value, that is, the amount that accrues to the benefit of the contract or policyholder including credited interest and assessments through the financial statement date. For guaranteed investment contracts, the liability is also adjusted as a result of fair value hedging activity. | |
Liabilities for unpaid claims and estimated claim settlement expenses represent our best estimate of the ultimate obligations for reported and incurred-but-not-reported claims and the related estimated claim settlement expenses. Liabilities for unpaid claims and estimated claim settlement expenses are continually reviewed and adjusted through current operations. | |
Fair Value Measurements | |
For financial assets and liabilities measured at fair value on a recurring basis, fair value is the price we would receive to sell an asset or pay to transfer a liability in an orderly transaction with a market participant at the measurement date. In the absence of active markets for the identical assets or liabilities, such measurements involve developing assumptions 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 that occurs at the measurement date. | |
Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. Preference is given to observable inputs. These two types of inputs create the following fair value hierarchy: | |
Level 1 – Quoted prices for identical instruments in active markets. | |
Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. | |
Level 3 – Significant inputs to the valuation model are unobservable. | |
We maintain policies and procedures to value instruments using the best and most relevant data available. In addition, we have risk management teams that review valuation, including independent price validation for certain instruments. With regard to Level 3 valuations (including instruments valued by third parties), we perform a variety of procedures to assess the reasonableness of the valuations. Such reviews, which may be performed quarterly, monthly or weekly, include an evaluation of instruments whose fair value change exceeds predefined thresholds (and/or does not change) and consider the current interest rate, currency and credit environment, as well as other published data, such as rating agency market reports and current appraisals. These reviews are performed within each business by the asset and risk managers, pricing committees and valuation committees. A detailed review of methodologies and assumptions is performed by individuals independent of the business for individual measurements with a fair value exceeding predefined thresholds. This detailed review may include the use of a third-party valuation firm. | |
Recurring Fair Value Measurements | |
The following sections describe the valuation methodologies we use to measure different financial instruments at fair value on a recurring basis. | |
Investments in Debt and Equity Securities. When available, we use quoted market prices to determine the fair value of investment securities, and they are included in Level 1. Level 1 securities primarily include publicly traded equity securities. | |
For large numbers of investment securities for which market prices are observable for identical or similar investment securities but not readily accessible for each of those investments individually (that is, it is difficult to obtain pricing information for each individual investment security at the measurement date), we obtain pricing information from an independent pricing vendor. The pricing vendor uses various pricing models for each asset class that are consistent with what other market participants would use. The inputs and assumptions to the model of the pricing vendor are derived from market observable sources including: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, benchmark securities, bids, offers, and other market-related data. Since many fixed income securities do not trade on a daily basis, the methodology of the pricing vendor uses available information as applicable such as benchmark curves, benchmarking of like securities, sector groupings, and matrix pricing. The pricing vendor considers available market observable inputs in determining the evaluation for a security. Thus, certain securities may not be priced using quoted prices, but rather determined from market observable information. These investments are included in Level 2 and primarily comprise our portfolio of corporate fixed income, and government, mortgage and asset-backed securities. In infrequent circumstances, our pricing vendors may provide us with valuations that are based on significant unobservable inputs, and in those circumstances we classify the investment securities in Level 3. | |
Annually, we conduct reviews of our primary pricing vendor to validate that the inputs used in that vendor's pricing process are deemed to be market observable as defined in the standard. While we are not provided access to proprietary models of the vendor, our reviews have included on-site walk-throughs of the pricing process, methodologies and control procedures for each asset class and level for which prices are provided. Our reviews also include an examination of the underlying inputs and assumptions for a sample of individual securities across asset classes, credit rating levels and various durations, a process we perform each reporting period. In addition, the pricing vendor has an established challenge process in place for all security valuations, which facilitates identification and resolution of potentially erroneous prices. We believe that the prices received from our pricing vendor are representative of prices that would be received to sell the assets at the measurement date (exit prices) and are classified appropriately in the hierarchy. | |
We use non-binding broker quotes and other third-party pricing services as our primary basis for valuation when there is limited, or no, relevant market activity for a specific instrument or for other instruments that share similar characteristics. We have not adjusted the prices we have obtained. Investment securities priced using non-binding broker quotes and other third-party pricing services are included in Level 3. As is the case with our primary pricing vendor, third-party brokers and other third-party pricing services do not provide access to their proprietary valuation models, inputs and assumptions. Accordingly, our risk management personnel conduct reviews of vendors, as applicable, similar to the reviews performed of our primary pricing vendor. In addition, we conduct internal reviews of pricing for all such investment securities quarterly to ensure reasonableness of valuations used in our financial statements. These reviews are designed to identify prices that appear stale, those that have changed significantly from prior valuations, and other anomalies that may indicate that a price may not be accurate. Based on the information available, we believe that the fair values provided by the brokers and other third-party pricing services are representative of prices that would be received to sell the assets at the measurement date (exit prices). | |
Derivatives. We use closing prices for derivatives included in Level 1, which are traded either on exchanges or liquid over-the-counter markets. | |
The majority of our derivatives are valued using internal models. The models maximize the use of market observable inputs including interest rate curves and both forward and spot prices for currencies and commodities. Derivative assets and liabilities included in Level 2 primarily represent interest rate swaps, cross-currency swaps and foreign currency and commodity forward and option contracts. | |
Derivative assets and liabilities included in Level 3 primarily represent equity derivatives and interest rate products that contain embedded optionality or prepayment features. | |
Non-recurring Fair Value Measurements | |
Certain assets are measured at fair value on a non-recurring basis. These assets are not measured at fair value on an ongoing basis, but are subject to fair value adjustments only in certain circumstances. These assets can include loans and long-lived assets that have been reduced to fair value when they are held for sale, impaired loans that have been reduced based on the fair value of the underlying collateral, cost and equity method investments and long-lived assets that are written down to fair value when they are impaired and the remeasurement of retained investments in formerly consolidated subsidiaries upon a change in control that results in deconsolidation of a subsidiary, if we sell a controlling interest and retain a noncontrolling stake in the entity. Assets that are written down to fair value when impaired and retained investments are not subsequently adjusted to fair value unless further impairment occurs. | |
The following sections describe the valuation methodologies we use to measure financial and non-financial instruments accounted for at fair value on a non-recurring basis and for certain assets within our pension plans and retiree benefit plans at each reporting period, as applicable. | |
Financing Receivables and Loans Held for Sale. When available, we use observable market data, including pricing on recent closed market transactions, to value loans that are included in Level 2. When this data is unobservable, we use valuation methodologies using current market interest rate data adjusted for inherent credit risk, and such loans are included in Level 3. When appropriate, loans may be valued using collateral values (see Long-Lived Assets below). | |
Cost and Equity Method Investments. Cost and equity method investments are valued using market observable data such as quoted prices when available. When market observable data is unavailable, investments are valued using a discounted cash flow model, comparative market multiples or a combination of both approaches as appropriate and other third-party pricing sources. These investments are generally included in Level 3. | |
Investments in private equity, real estate and collective funds are valued using net asset values. The net asset values are determined based on the fair values of the underlying investments in the funds. Investments in private equity and real estate funds are generally included in Level 3 because they are not redeemable at the measurement date. Investments in collective funds are included in Level 2. | |
Long-lived Assets, including Real Estate. Fair values of long-lived assets, including aircraft and real estate, are primarily derived internally and are based on observed sales transactions for similar assets. In other instances, for example, collateral types for which we do not have comparable observed sales transaction data, collateral values are developed internally and corroborated by external appraisal information. Adjustments to third-party valuations may be performed in circumstances where market comparables are not specific to the attributes of the specific collateral or appraisal information may not be reflective of current market conditions due to the passage of time and the occurrence of market events since receipt of the information. For real estate, fair values are based on discounted cash flow estimates that reflect current and projected lease profiles and available industry information about capitalization rates and expected trends in rents and occupancy and are corroborated by external appraisals. These investments are generally included in Level 2 or Level 3. | |
Retained Investments in Formerly Consolidated Subsidiaries. Upon a change in control that results in deconsolidation of a subsidiary, the fair value measurement of our retained noncontrolling stake is valued using market observable data such as quoted prices when available, or if not available, an income approach, a market approach, or a combination of both approaches as appropriate. In applying these methodologies, we rely on a number of factors, including actual operating results, future business plans, economic projections, market observable pricing multiples of similar businesses and comparable transactions, and possible control premium. These investments are generally included in Level 1 or Level 3, as appropriate, determined at the time of the transaction. | |
Accounting Changes | |
On January 1, 2012, we adopted Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) 2011-05, an amendment to Accounting Standards Codification (ASC) 220, Comprehensive Income. ASU 2011-05 introduced a new statement, the Consolidated Statement of Comprehensive Income. The amendments affect only the display of those components of equity categorized as other comprehensive income and do not change existing recognition and measurement requirements that determine net earnings. | |
On January 1, 2012, we adopted FASB ASU 2011-04, an amendment to ASC 820, Fair Value Measurements. ASU 2011-04 clarifies or changes the application of existing fair value measurements, including: that the highest and best use valuation premise in a fair value measurement is relevant only when measuring the fair value of nonfinancial assets; that a reporting entity should measure the fair value of its own equity instrument from the perspective of a market participant that holds that instrument as an asset; to permit an entity to measure the fair value of certain financial instruments on a net basis rather than based on its gross exposure when the reporting entity manages its financial instruments on the basis of such net exposure; that in the absence of a Level 1 input, a reporting entity should apply premiums and discounts when market participants would do so when pricing the asset or liability consistent with the unit of account; and that premiums and discounts related to size as a characteristic of the reporting entity's holding are not permitted in a fair value measurement. Adopting these amendments had no effect on the financial statements. | |
On January 1, 2011, we adopted FASB ASU 2009-13 and ASU 2009-14, amendments to ASC 605, Revenue Recognition and ASC 985, Software, respectively, (ASU 2009-13 &14). ASU 2009-13 requires the allocation of consideration to separate components of an arrangement based on the relative selling price of each component. ASU 2009-14 requires certain software-enabled products to be accounted for under the general accounting standards for multiple component arrangements. These amendments were effective for new revenue arrangements entered into or materially modified on or subsequent to January 1, 2011. | |
Although the adoption of these amendments eliminated the allocation of consideration using residual values, which was applied primarily in our Healthcare segment, the overall impact of adoption was insignificant to our financial statements. In addition, there are no significant changes to the number of components or the pattern and timing of revenue recognition following adoption. | |
On July 1, 2011, we adopted FASB ASU 2011-02, an amendment to ASC 310, Receivables. This ASU provides guidance for determining whether the restructuring of a debt constitutes a TDR and requires that such actions be classified as a TDR when there is both a concession and the debtor is experiencing financial difficulties. The amendment also clarifies guidance on a creditor's evaluation of whether it has granted a concession. The amendment applies to restructurings that have occurred subsequent to January 1, 2011. As a result of adopting these amendments on July 1, 2011, we have classified an additional $271 million of financing receivables as TDRs and have recorded an increase of $77 million to our allowance for losses on financing receivables. See Note 6. | |
Assets_and_Liabilities_of_Busi
Assets and Liabilities of Businesses Held For Sale and Discontinued Operations | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | ||||||||||||
Assets and Liabilities Of Business Held For Sale and Discontinued Operations | ' | ||||||||||||
NOTE 2. ASSETS AND LIABILITIES OF BUSINESSES HELD FOR SALE AND DISCONTINUED OPERATIONS | |||||||||||||
Assets and Liabilities of Businesses Held for Sale | |||||||||||||
In the first quarter of 2013, we committed to sell certain of our machining and fabrication businesses at Aviation and our Consumer auto and personal loan business in Portugal. We completed the sale of our Consumer auto and personal loan business in Portugal on July 15, 2013 for proceeds of $83 million. We completed the sale of our machining & fabrication business on December 2, 2013 for proceeds of $108 million. | |||||||||||||
In the third quarter of 2012, we completed the sale of our CLL business in South Korea for proceeds of $168 million. | |||||||||||||
In the second quarter of 2012, we committed to sell a portion of our Business Properties portfolio (Business Property) in Real Estate, including certain commercial loans, the origination and servicing platforms and the servicing rights on loans previously securitized by GECC. We completed the sale of Business Property on October 1, 2012 for proceeds of $2,406 million. We deconsolidated substantially all Real Estate securitization entities in the fourth quarter of 2012 as servicing rights related to these entities were transferred to the buyer at closing. | |||||||||||||
NBCU | |||||||||||||
On January 28, 2011, we transferred the assets of the NBCU business and Comcast Corporation (Comcast) transferred certain of its assets to a newly formed entity, NBCUniversal LLC (NBCU LLC). In connection with the transaction, we received $6,176 million in cash from Comcast (which included $49 million of transaction-related cost reimbursements) and a 49% interest in NBCU LLC. Comcast held the remaining 51% interest in NBCU LLC. In connection with the transaction, we also entered into a number of agreements with Comcast governing the operation of the venture and transitional services, employee, tax and other matters. In addition, Comcast is obligated to share with us potential tax savings associated with their purchase of its 51% NBCU LLC member interest, if realized. We did not recognize these potential future payments as consideration for the sale, but record such payments in income as they are received. | |||||||||||||
Following the transaction, we deconsolidated NBCU and we accounted for our investment in NBCU LLC under the equity method. We recognized a pre-tax gain on the sale of $3,705 million ($526 million after tax). In connection with the sale, we recorded income tax expense of $3,179 million, reflecting the low tax basis in our investment in the NBCU business and the recognition of deferred tax liabilities related to our 49% investment in NBCU LLC. As our investment in NBCU LLC was structured as a partnership for U.S. tax purposes, U.S. taxes were recorded separately from the equity investment. | |||||||||||||
At December 31, 2012, the carrying amount of our equity investment in NBCU LLC was $18,887 million, reported in the “All other assets” caption in our Statement of Financial Position. At December 31, 2012, deferred tax liabilities related to our NBCU LLC investment were $4,937 million, and were reported in the “Deferred income taxes” caption in our Statement of Financial Position. | |||||||||||||
On March 19, 2013, we closed the transaction to sell our remaining 49% common equity interest in NBCU LLC to Comcast for total consideration of $16,722 million, consisting of $11,997 million in cash, $4,000 million in Comcast guaranteed debt and $725 million in preferred stock. The $4,000 million of debt and the $725 million of preferred shares were both issued by a wholly-owned subsidiary of Comcast. During the first quarter of 2013, we sold both of these investments at approximately par value. Consistent with the initial purchase of the 51% interest of NBCU LLC, Comcast is obligated to share with us potential tax savings associated with their purchase of our remaining 49% NBCU LLC interest, if realized. GECC also sold real estate comprising certain floors located at 30 Rockefeller Center, New York and the CNBC property located in Englewood Cliffs, New Jersey to affiliates of NBCU LLC for $1,430 million in cash. | |||||||||||||
As a result of the transactions, we recognized pre-tax gains of $1,096 million ($825 million after tax) on the sale of our 49% common equity interest in NBCU LLC and $921 million ($564 million after tax) on the sale of GECC's real estate properties. | |||||||||||||
Discontinued Operations | |||||||||||||
Discontinued operations primarily comprised GE Money Japan (our Japanese personal loan business, Lake, and our Japanese mortgage and card businesses, excluding our investment in GE Nissen Credit Co., Ltd.), our U.S. mortgage business (WMC), our U.S. recreational vehicle and marine equipment financing business (Consumer RV Marine), Consumer Mexico, Consumer Singapore, our Consumer home lending operations in Australia and New Zealand (Australian Home Lending), our Consumer mortgage business in Ireland (Consumer Ireland), our CLL trailer services business in Europe (CLL Trailer Services) and our Consumer banking business in Russia (Consumer Russia). Associated results of operations, financial position and cash flows are separately reported as discontinued operations for all periods presented. | |||||||||||||
Summarized financial information for discontinued operations is shown below. | |||||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||||
Operations | |||||||||||||
Total revenues and other income (loss) | $ | 186 | $ | 191 | $ | 1,074 | |||||||
Earnings (loss) from discontinued operations | |||||||||||||
before income taxes | $ | -494 | $ | -586 | $ | -93 | |||||||
Benefit (provision) for income taxes | 155 | 198 | 100 | ||||||||||
Earnings (loss) from discontinued operations, | |||||||||||||
net of taxes | $ | -339 | $ | -388 | $ | 7 | |||||||
Disposal | |||||||||||||
Gain (loss) on disposal before income taxes | $ | -2,027 | $ | -792 | $ | -329 | |||||||
Benefit (provision) for income taxes | 246 | 197 | 351 | ||||||||||
Gain (loss) on disposal, net of taxes | $ | -1,781 | $ | -595 | $ | 22 | |||||||
Earnings (loss) from discontinued operations, | |||||||||||||
net of taxes(a) | $ | -2,120 | $ | -983 | $ | 29 | |||||||
(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 earnings (loss) from discontinued operations, net of taxes, on the Statement of Earnings. | |||||||||||||
December 31 (In millions) | 2013 | 2012 | |||||||||||
Assets | |||||||||||||
Cash and equivalents | $ | 232 | $ | 191 | |||||||||
Financing receivables - net | 711 | 793 | |||||||||||
Property, plant and equipment - net | 6 | 706 | |||||||||||
Other | 1,390 | 1,625 | |||||||||||
Assets of discontinued operations | $ | 2,339 | $ | 3,315 | |||||||||
Liabilities | |||||||||||||
Deferred income taxes | $ | 248 | $ | 372 | |||||||||
Other | 3,685 | 2,361 | |||||||||||
Liabilities of discontinued operations | $ | 3,933 | $ | 2,733 | |||||||||
Other assets at December 31, 2013 and 2012, primarily comprised a deferred tax asset for a loss carryforward, which expires principally in 2017 and in part in 2019, related to the sale of our GE Money Japan business. | |||||||||||||
GE Money Japan | |||||||||||||
During the third quarter of 2008, we completed the sale of GE Money Japan, which included our Japanese personal loan business. Under the terms of the sale, we reduced the proceeds from the sale for estimated refund claims in excess of the statutory interest rate. Proceeds from the sale were to be increased or decreased based on the actual claims experienced in accordance with loss-sharing terms specified in the sale agreement, with all claims in excess of 258 billion Japanese yen (approximately $3,000 million) remaining our responsibility. The underlying portfolio to which this obligation relates is in runoff status and interest rates were capped for all designated accounts by mid-2009. In the third quarter of 2010, we were required to begin making reimbursements under this arrangement. | |||||||||||||
Overall, excess interest refund claims activity has been difficult to predict and subject to several adverse factors, including the challenging global economic conditions over the last few years, the financial status of other Japanese personal lenders (including the 2010 bankruptcy of a large independent personal loan company), substantial ongoing legal advertising and consumer behavior. Since our disposition of the business, incoming claims have continued to decline; however, the pace and pattern of this decline are highly variable, difficult to predict and can have a significant effect on our estimate of this refund claims obligation. | |||||||||||||
The terms of the sale agreement provided us with a buyout option to extinguish this obligation at March 31, 2014, and on a biennial basis thereafter if we elected not to exercise our option in 2014. On February 26, 2014, we reached an agreement with the buyer in which we will pay 175 billion Japanese yen (approximately $1,700 million) to extinguish this obligation. | |||||||||||||
Our reserve for these refund claims increased from $700 million at December 31, 2012 to $1,836 million at December 31, 2013, as increases to the reserve of $1,645 million during 2013, including $1,440 million in the fourth quarter, primarily reflecting the February 26, 2014 agreement, were partially offset by refund claims payments of $361 million and the effects of a strengthening U.S. dollar against the Japanese yen of $148 million. Our reserve at December 31, 2013 represents the estimated required reimbursements for refund claims through March 31, 2014 in accordance with the 2008 sale agreement and the amount provided for under the 2014 agreement with the buyer. | |||||||||||||
GE Money Japan earnings (loss) from discontinued operations, net of taxes, were $(1,636) million, $(649) million and $(238) million in 2013, 2012 and 2011, 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 as to which there was an early payment default. All claims received by WMC for early payment default have either been resolved or are no longer being pursued. | |||||||||||||
Pending repurchase claims based upon representations and warranties made in connection with loan sales were $5,643 million at December 31, 2013, $5,357 million at December 31, 2012 and $705 million at December 31, 2011. Pending claims represent those active repurchase claims that identify the specific loans tendered for repurchase and, for each loan, the alleged breach of a representation or warranty. As such, they do not include unspecified repurchase claims, such as the Litigation Claims discussed below, or claims relating to breaches of representations that were made more than six years before WMC was notified of the claim. WMC believes that these repurchase claims do not meet the substantive and procedural requirements for tender under the governing agreements, would be disallowed in legal proceedings under applicable statutes of limitations or are otherwise invalid. The amounts reported in pending claims reflect the purchase price or unpaid principal balances of the loans at the time of purchase and do not give effect to pay downs, accrued interest or fees, or potential recoveries based upon the underlying collateral. In the fourth quarter of 2013, WMC entered into settlements that reduce its exposure on claims asserted in certain securitizations. Pending claim and Litigation Claim amounts reported herein reflect the impact of these settlements. Historically, a small percentage of the total loans WMC originated and sold have been treated as “validly tendered,” meaning the loan was subject to repurchase because there was a breach of a representation and warranty that materially and adversely affected the value of the loan, and the demanding party met all other procedural and substantive requirements for repurchase. | |||||||||||||
Reserves related to WMC pending and estimated future loan repurchase claims were $800 million at December 31, 2013, reflecting a net increase to reserves in the year ended December 31, 2013 of $167 million due to incremental claim activity and updates to WMC's estimate of future losses. The amount of the reserve is based upon pending loan repurchase requests, WMC's historical loss experience and evaluation of claim activity on loans tendered for repurchase. | |||||||||||||
The following table provides a roll forward of the reserve and pending repurchase claims. | |||||||||||||
Reserve | Pending claims | ||||||||||||
(In millions) | 2013 | 2012 | (In millions) | 2013 | 2012 | ||||||||
Balance at January 1 | $ | 633 | $ | 143 | Balance at January 1 | $ | 5,357 | $ | 705 | ||||
Provision | 354 | 500 | New claims | 1,259 | 4,838 | ||||||||
Claim resolutions/ rescissions | -187 | -10 | Claim resolutions/ rescissions | -973 | -186 | ||||||||
Balance at December 31 | $ | 800 | $ | 633 | Balance at December 31 | $ | 5,643 | $ | 5,357 | ||||
Given the significant recent activity in pending claims and related litigation filed in connection with such claims, 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 for pending and estimated future loan repurchase claims may result in an increase to these reserves. For example, a 100% increase in the estimated loss rate on loans tendered (and assuming settlements at current demands), would result in an increase to the reserves of approximately $525 million. | |||||||||||||
As of December 31, 2013, there were 17 lawsuits involving claims made against WMC arising from alleged breaches of representations and warranties on mortgage loans included in 15 securitizations. Subsequent to December 31, 2013, three of these lawsuits were dismissed leaving 14 lawsuits remaining. WMC initiated one of the cases as the plaintiff; in the other cases WMC is a defendant. The adverse parties in these cases are securitization trustees or parties claiming to act on their behalf. In 12 of these lawsuits, the adverse parties seek compensatory or other relief for mortgage loans beyond those included in WMC's previously discussed pending claims at December 31, 2013 (Litigation Claims). These Litigation Claims consist of sampling-based claims in two cases on approximately $600 million of mortgage loans and, in the other ten cases, claims for repurchase or damages based on the alleged failure to provide notice of defective loans, breach of a corporate representation and warranty, and/or non-specific claims for rescissionary damages on approximately $6,200 million of mortgage loans at December 31, 2013. The dismissal of a lawsuit subsequent to December 31, 2013 decreased the pending claims amount by $123 million and the Litigation Claims amount by $318 million. These claims reflect the purchase price or unpaid principal balances of the loans at the time of purchase and do not give effect to pay downs, accrued interest or fees, or potential recoveries based upon the underlying collateral. As noted above, WMC believes that the Litigation Claims conflict with the governing agreements and applicable law. As a result, WMC has not included the Litigation Claims in its pending claims or in its estimates of future loan repurchase requests and holds no related reserve as of December 31, 2013. | |||||||||||||
At this point, WMC is unable to develop a meaningful estimate of reasonably possible loss in connection with the Litigation Claims described above due to a number of factors, including the extent to which courts will agree with the theories supporting the Litigation Claims. The case law on these issues is unsettled, and while several courts have supported some of the theories underlying WMC's legal defenses, other courts have rejected them. There are a number of pending cases, including WMC cases, which, in the coming months, could provide more certainty regarding the legal status of these claims. An adverse court decision on any of the theories supporting the Litigation Claims could increase WMC's exposure in some or all of the 14 lawsuits, result in a reclassification of some or all of the Litigation Claims to pending claims and provoke new claims and lawsuits on additional loans. However, WMC continues to believe that it has defenses to all the claims asserted in litigation, including, for example, causation and materiality requirements, limitations on remedies for breach of representations and warranties, and the applicable statutes of limitations. 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. It is not possible to predict the outcome or impact of these defenses and other factors, any one of which could materially affect the amount of any loss ultimately incurred by WMC on these claims. | |||||||||||||
WMC has received claims on approximately $2,200 million of mortgage loans after the expiration of the statute of limitations as of December 31, 2013, $1,700 million of which are also included as Litigation Claims. WMC has also received unspecified indemnification demands from depositors/underwriters/sponsors of residential mortgage-backed securities (RMBS) in connection with lawsuits brought by RMBS investors concerning alleged misrepresentations in the securitization offering documents to which WMC is not a party. WMC believes that it has defenses to these demands. | |||||||||||||
The reserve estimates reflect judgment, based on currently available information, and a number of assumptions, including economic conditions, claim activity, pending and threatened litigation, indemnification demands, estimated repurchase rates, and other activity in the mortgage industry. Actual losses arising from claims against WMC could exceed the reserve amount and additional claims and lawsuits could result if actual claim rates, governmental actions, litigation and indemnification activity, adverse court decisions, settlement activity, actual repurchase rates or losses WMC incurs on repurchased loans differ from its assumptions. It is difficult to develop a meaningful estimate of aggregate possible claims exposure because of uncertainties surrounding economic conditions, the ability and propensity of mortgage loan holders to present and resolve valid claims, governmental actions, mortgage industry activity and litigation, court decisions affecting WMC's defenses, and pending and threatened litigation and indemnification demands against WMC. | |||||||||||||
WMC revenues and other income (loss) from discontinued operations were $(346) million, $(500) million and $(42) million in 2013, 2012 and 2011, respectively. In total, WMC's earnings (loss) from discontinued operations, net of taxes, were $(232) million, $(337) million and $(34) million in 2013, 2012 and 2011, respectively. | |||||||||||||
Other Financial Services | |||||||||||||
In the fourth quarter of 2013, we announced the planned disposition of Consumer Russia and classified the business as discontinued operations. Consumer Russia revenues and other income (loss) from discontinued operations were $260 million, $276 million and $280 million in 2013, 2012 and 2011, respectively. Consumer Russia earnings (loss) from discontinued operations, net of taxes, were $(193) million (including a $170 million loss on the planned disposal), $33 million and $87 million in 2013, 2012 and 2011, respectively. | |||||||||||||
In the first quarter of 2013, we announced the planned disposition of CLL Trailer Services and classified the business as discontinued operations. We completed the sale in the fourth quarter of 2013 for proceeds of $528 million. CLL Trailer Services revenues and other income (loss) from discontinued operations were $271 million, $399 million and $464 million in 2013, 2012 and 2011, respectively. CLL Trailer Services earnings (loss) from discontinued operations, net of taxes, were $(2) million (including an $18 million gain on disposal), $22 million and $17 million in 2013, 2012 and 2011, respectively. | |||||||||||||
In the first quarter of 2012, we announced the planned disposition of Consumer Ireland and classified the business as discontinued operations. We completed the sale in the third quarter of 2012 for proceeds of $227 million. Consumer Ireland revenues and other income (loss) from discontinued operations were an insignificant amount, $7 million and $13 million in 2013, 2012 and 2011, respectively. Consumer Ireland earnings (loss) from discontinued operations, net of taxes, were $6 million, $(195) million (including a $121 million loss on disposal) and $(153) million in 2013, 2012 and 2011, respectively. | |||||||||||||
In the second quarter of 2011, we entered into an agreement to sell our Australian Home Lending operations and classified it as discontinued operations. As a result, we recognized an after-tax loss of $148 million in 2011. We completed the sale in the third quarter of 2011 for proceeds of approximately $4,577 million. Australian Home Lending revenues and other income (loss) from discontinued operations were an insignificant amount, $4 million and $250 million in 2013, 2012 and 2011, respectively. Australian Home Lending earnings (loss) from discontinued operations, net of taxes, were $14 million, $6 million and $(65) million in 2013, 2012 and 2011, respectively. | |||||||||||||
In the first quarter of 2011, we entered into an agreement to sell our Consumer Singapore business for $692 million. The sale was completed in the second quarter of 2011. Consumer Singapore revenues and other income (loss) from discontinued operations were $1 million, an insignificant amount and $30 million in 2013, 2012 and 2011, respectively. Consumer Singapore earnings (loss) from discontinued operations, net of taxes, were $1 million, $2 million and $333 million (including a $319 million gain on disposal) in 2013, 2012 and 2011, respectively. | |||||||||||||
The Consumer RV Marine and Consumer Mexico dispositions were completed during the first quarter and the second quarter of 2011, respectively, for proceeds of $2,365 million and $1,943 million, respectively. Consumer RV Marine revenues and other income (loss) from discontinued operations were an insignificant amount, $1 million and $11 million in 2013, 2012 and 2011, respectively. Consumer RV Marine earnings (loss) from discontinued operations, net of taxes, were $(1) million, an insignificant amount and $2 million in 2013, 2012 and 2011, respectively. Consumer Mexico revenues and other income (loss) from discontinued operations were an insignificant amount, $2 million and $67 million in 2013, 2012 and 2011, respectively. Consumer Mexico earnings (loss) from discontinued operations, net of taxes, were $(11) million, $(12) million and $30 million in 2013, 2012 and 2011, respectively. | |||||||||||||
GE Industrial | |||||||||||||
GE industrial earnings (loss) from discontinued operations, net of taxes, were $(66) million, $147 million and $(1) million in 2013, 2012 and 2011, respectively. During the fourth quarter of 2013, we recorded an increase to our tax reserve related to Spanish taxes for the years prior to our 2007 disposition of our Plastics business. During the third quarter of 2012, we resolved with the Internal Revenue Service the tax treatment of the 2007 disposition of our Plastics business, resulting in a tax benefit of $148 million. 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 Statement of Earnings. | |||||||||||||
Investment_Securities
Investment Securities | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
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 and investments held in our CLL business collateralized by senior secured loans of high-quality, middle-market companies in a variety of industries. We do not have any securities classified as held-to-maturity. | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Gross | Gross | Gross | Gross | |||||||||||||||||||||
Amortized | unrealized | unrealized | Estimated | Amortized | unrealized | unrealized | Estimated | |||||||||||||||||
December 31 (In millions) | cost | gains | losses | fair value | cost | gains | losses | fair value | ||||||||||||||||
GE | ||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||
U.S. corporate | $ | 21 | $ | 14 | $ | - | $ | 35 | $ | 39 | $ | - | $ | - | $ | 39 | ||||||||
Corporate - non-U.S. | 13 | - | -1 | 12 | 6 | - | - | 6 | ||||||||||||||||
Equity | ||||||||||||||||||||||||
Available-for-sale | 302 | 9 | -41 | 270 | 26 | - | - | 26 | ||||||||||||||||
Trading | 6 | - | - | 6 | 3 | - | - | 3 | ||||||||||||||||
342 | 23 | -42 | 323 | 74 | - | - | 74 | |||||||||||||||||
GECC | ||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||
U.S. corporate | 19,600 | 2,323 | -217 | 21,706 | 20,233 | 4,201 | -302 | 24,132 | ||||||||||||||||
State and municipal | 4,245 | 235 | -191 | 4,289 | 4,084 | 575 | -113 | 4,546 | ||||||||||||||||
Residential mortgage- | ||||||||||||||||||||||||
backed(a) | 1,819 | 139 | -48 | 1,910 | 2,198 | 183 | -119 | 2,262 | ||||||||||||||||
Commercial mortgage- backed | 2,929 | 188 | -82 | 3,035 | 2,930 | 259 | -95 | 3,094 | ||||||||||||||||
Asset-backed | 7,373 | 60 | -46 | 7,387 | 5,784 | 31 | -77 | 5,738 | ||||||||||||||||
Corporate - non-U.S. | 1,741 | 103 | -86 | 1,758 | 2,391 | 150 | -126 | 2,415 | ||||||||||||||||
Government - non-U.S. | 2,336 | 81 | -7 | 2,410 | 1,617 | 149 | -3 | 1,763 | ||||||||||||||||
U.S. government and | ||||||||||||||||||||||||
federal agency | 752 | 45 | -27 | 770 | 3,462 | 103 | - | 3,565 | ||||||||||||||||
Retained interests | 64 | 8 | - | 72 | 76 | 7 | - | 83 | ||||||||||||||||
Equity | ||||||||||||||||||||||||
Available-for-sale | 203 | 51 | -3 | 251 | 513 | 86 | -3 | 596 | ||||||||||||||||
Trading | 74 | - | - | 74 | 245 | - | - | 245 | ||||||||||||||||
41,136 | 3,233 | -707 | 43,662 | 43,533 | 5,744 | -838 | 48,439 | |||||||||||||||||
Eliminations | -4 | - | - | -4 | -3 | - | - | -3 | ||||||||||||||||
Total | $ | 41,474 | $ | 3,256 | $ | -749 | $ | 43,981 | $ | 43,604 | $ | 5,744 | $ | -838 | $ | 48,510 | ||||||||
(a) Substantially collateralized by U.S. mortgages. Of our total RMBS portfolio at December 31, 2013, $1,224 million relates to securities issued by government-sponsored entities and $686 million relates 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 $43,981 million at December 31, 2013, from $48,510 million at December 31, 2012, primarily due to the sale of U.S. government and federal agency securities at our treasury operations and the impact of higher interest rates. | ||||||||||||||||||||||||
The following tables present the estimated fair values and gross unrealized losses of our available-for-sale investment securities. | ||||||||||||||||||||||||
In loss position for | ||||||||||||||||||||||||
Less than 12 months | 12 months or more | |||||||||||||||||||||||
Gross | Gross | |||||||||||||||||||||||
Estimated | unrealized | Estimated | unrealized | |||||||||||||||||||||
December 31 (In millions) | fair value | (a) | losses | (a)(b) | fair value | losses | (b) | |||||||||||||||||
2013 | ||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||
U.S. corporate | $ | 2,170 | $ | -122 | $ | 598 | $ | -95 | ||||||||||||||||
State and municipal | 1,076 | -82 | 367 | -109 | ||||||||||||||||||||
Residential mortgage-backed | 232 | -11 | 430 | -37 | ||||||||||||||||||||
Commercial mortgage-backed | 396 | -24 | 780 | -58 | ||||||||||||||||||||
Asset-backed | 112 | -2 | 359 | -44 | ||||||||||||||||||||
Corporate - non-U.S. | 108 | -4 | 454 | -83 | ||||||||||||||||||||
Government - non-U.S. | 1,479 | -6 | 42 | -1 | ||||||||||||||||||||
U.S. government and federal agency | 229 | -27 | 254 | - | ||||||||||||||||||||
Retained interests | 2 | - | - | - | ||||||||||||||||||||
Equity | 253 | -44 | - | - | ||||||||||||||||||||
Total | $ | 6,057 | $ | -322 | $ | 3,284 | $ | -427 | ||||||||||||||||
2012 | ||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||
U.S. corporate | $ | 434 | $ | -7 | $ | 813 | $ | -295 | ||||||||||||||||
State and municipal | 146 | -2 | 326 | -111 | ||||||||||||||||||||
Residential mortgage-backed | 98 | -1 | 691 | -118 | ||||||||||||||||||||
Commercial mortgage-backed | 37 | - | 979 | -95 | ||||||||||||||||||||
Asset-backed | 18 | -1 | 658 | -76 | ||||||||||||||||||||
Corporate - non-U.S. | 167 | -8 | 602 | -118 | ||||||||||||||||||||
Government - non-U.S. | 201 | -1 | 37 | -2 | ||||||||||||||||||||
U.S. government and federal agency | - | - | - | - | ||||||||||||||||||||
Retained interests | 3 | - | - | - | ||||||||||||||||||||
Equity | 26 | -3 | - | - | ||||||||||||||||||||
Total | $ | 1,130 | $ | -23 | $ | 4,106 | $ | -815 | ||||||||||||||||
The December 31, 2013 table includes the estimated fair value of and gross unrealized losses on Corporate-non-U.S. and Equity securities held by GE. The estimated fair value of and gross unrealized losses on Corporate-non-U.S. securities held by GE were $12 million and $(1) million, respectively. The estimated fair value of and gross unrealized losses on Equity securities held by GE were $222 million and $(41) million, respectively. | ||||||||||||||||||||||||
Includes gross unrealized losses at December 31, 2013 of $(99) million related to securities that had other-than-temporary impairments previously recognized. | ||||||||||||||||||||||||
We regularly review investment securities for impairment using both qualitative and quantitative criteria. 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 these securities before recovery of our amortized cost. We believe that the unrealized loss associated with our equity securities will be recovered within the foreseeable future. | ||||||||||||||||||||||||
Substantially all of our U.S. corporate debt securities are rated investment grade by the major rating agencies. We evaluate U.S. corporate debt securities based on a variety of factors, such as the financial health of and specific prospects for the issuer, including whether the issuer is in compliance with the terms and covenants of the security. In the event a U.S. corporate debt security is deemed to be other-than-temporarily impaired, we isolate the credit portion of the impairment by comparing the present value of our expectation of cash flows to the amortized cost of the security. We discount the cash flows using the original effective interest rate of the security. | ||||||||||||||||||||||||
The vast majority of our RMBS have investment-grade credit ratings from the major rating agencies and are in a senior position in the capital structure of the deals. Of our total RMBS at December 31, 2013 and 2012, approximately $378 million and $471 million, respectively, relate to residential subprime credit, primarily supporting our guaranteed investment contracts. These are collateralized primarily by pools of individual, direct mortgage loans (a majority of which were originated in 2006 and 2005), not other structured products such as collateralized debt obligations. In addition, of the total residential subprime credit exposure at December 31, 2013 and 2012, approximately $285 million and $219 million, respectively, was insured by Monoline insurers (Monolines) on which we continue to place reliance. | ||||||||||||||||||||||||
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 2007 and 2006. The vast majority of the securities in our CMBS portfolio have investment-grade credit ratings and are in a senior position in the capital structure of the deals. | ||||||||||||||||||||||||
Our asset-backed securities (ABS) portfolio is collateralized by senior secured loans of high-quality, middle-market companies in a variety of industries, as well as a variety of diversified pools of assets such as student loans and credit cards. The vast majority of our ABS are in a senior position in the capital structure of the deals. In addition, substantially all of the securities that are below investment-grade are in an unrealized gain position. | ||||||||||||||||||||||||
For ABS and RMBS, we estimate the portion of loss attributable to credit using a discounted cash flow model that considers estimates of cash flows generated from the underlying collateral. Estimates of cash flows consider credit risk, interest rate and prepayment assumptions that incorporate management's best estimate of key assumptions of the underlying collateral, including default rates, loss severity and prepayment rates. For CMBS, we estimate the portion of loss attributable to credit by evaluating potential losses on each of the underlying loans in the security. Collateral cash flows are considered in the context of our position in the capital structure of the deals. Assumptions can vary widely depending upon the collateral type, geographic concentrations and vintage. | ||||||||||||||||||||||||
If there has been an adverse change in cash flows for RMBS, management considers credit enhancements such as monoline insurance (which are features of a specific security). In evaluating the overall credit worthiness of the Monoline, we use an analysis that is similar to the approach we use for corporate bonds, including an evaluation of the sufficiency of the Monoline's cash reserves and capital, ratings activity, whether the Monoline is in default or default appears imminent, and the potential for intervention by an insurance or other regulator. | ||||||||||||||||||||||||
During 2013, we recorded pre-tax, other-than-temporary impairments of $798 million, of which $767 million was recorded through earnings ($15 million relates to equity securities) and $31 million was recorded in accumulated other comprehensive income (AOCI). At January 1, 2013, cumulative impairments recognized in earnings associated with debt securities still held were $588 million. During 2013, we recognized first-time impairments of $389 million and incremental charges on previously impaired securities of $336 million. Of these cumulative amounts recognized through December 31, 2013, $120 million related to securities that were subsequently sold before the end of 2013. | ||||||||||||||||||||||||
During 2012, we recorded pre-tax, other-than-temporary impairments of $193 million, of which $141 million was recorded through earnings ($39 million relates to equity securities) and $52 million was recorded in AOCI. At January 1, 2012, cumulative impairments recognized in earnings associated with debt securities still held were $726 million. During 2012, we recognized first-time impairments of $27 million and incremental charges on previously impaired securities of $40 million. Of these cumulative amounts recognized through December 31, 2012, $219 million related to securities that were subsequently sold before the end of 2012. | ||||||||||||||||||||||||
During 2011, we recorded pre-tax, other-than-temporary impairments of $467 million, of which $387 million was recorded through earnings ($81 million relates to equity securities) and $80 million was recorded in AOCI. At January 1, 2011, cumulative impairments recognized in earnings associated with debt securities still held were $500 million. During 2011, we recognized first-time impairments of $58 million and incremental charges on previously impaired securities of $230 million. Of these cumulative amounts recognized through December 31, 2011, $62 million related to securities that were subsequently sold before the end of 2011. | ||||||||||||||||||||||||
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 | $ | 2,397 | $ | 2,417 | ||||||||||||||||||||
After one year through five years | 3,303 | 3,506 | ||||||||||||||||||||||
After five years through ten years | 4,984 | 5,156 | ||||||||||||||||||||||
After ten years | 18,024 | 19,901 | ||||||||||||||||||||||
We expect actual maturities to differ from contractual maturities because borrowers have the right to call or prepay certain obligations. | ||||||||||||||||||||||||
Supplemental information about gross realized gains and losses on available-for-sale investment securities follows. | ||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2011 | |||||||||||||||||||||
GE | ||||||||||||||||||||||||
Gains | $ | 1 | $ | - | $ | - | ||||||||||||||||||
Losses, including impairments | -20 | -1 | - | |||||||||||||||||||||
Net | -19 | -1 | - | |||||||||||||||||||||
GECC | ||||||||||||||||||||||||
Gains | 239 | 177 | 205 | |||||||||||||||||||||
Losses, including impairments | -762 | -211 | -402 | |||||||||||||||||||||
Net | -523 | -34 | -197 | |||||||||||||||||||||
Total | $ | -542 | $ | -35 | $ | -197 | ||||||||||||||||||
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 $19,276 million, $12,745 million and $15,606 million in 2013, 2012 and 2011, respectively, principally from the sale of Comcast guaranteed debt and short-term securities in our bank subsidiaries and treasury operations. | ||||||||||||||||||||||||
We recognized pre-tax gains on trading securities of $48 million, $20 million and $22 million in 2013, 2012 and 2011, respectively. |
Current_Receivables
Current Receivables | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Accounts Receivable, Net, Current [Abstract] | ' | |||||||||||
Current Receivables | ' | |||||||||||
NOTE 4. CURRENT RECEIVABLES | ||||||||||||
Consolidated(a) | GE(b) | |||||||||||
December 31 (In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||
Power & Water | $ | 3,895 | $ | 2,977 | $ | 2,335 | $ | 1,700 | ||||
Oil & Gas | 5,444 | 4,656 | 3,134 | 1,872 | ||||||||
Energy Management | 1,540 | 1,600 | 686 | 800 | ||||||||
Aviation | 4,307 | 4,756 | 2,260 | 2,493 | ||||||||
Healthcare | 4,398 | 4,253 | 2,029 | 2,012 | ||||||||
Transportation | 526 | 485 | 318 | 324 | ||||||||
Appliances & Lighting | 1,337 | 1,286 | 273 | 186 | ||||||||
Corporate items & eliminations | 388 | 351 | 377 | 343 | ||||||||
21,835 | 20,364 | 11,412 | 9,730 | |||||||||
Less Allowance for Losses | -447 | -462 | -442 | -456 | ||||||||
Total | $ | 21,388 | $ | 19,902 | $ | 10,970 | $ | 9,274 | ||||
Included GE industrial customer receivables factored through a GECC affiliate and reported as financing receivables by GECC. See Note 26. | ||||||||||||
GE current receivables balances at December 31, 2013 and 2012, before allowance for losses, included $7,441 million and $6,283 million, respectively, from sales of goods and services to customers, and $37 million and $70 million at December 31, 2013 and 2012, respectively, from transactions with associated companies. | ||||||||||||
GE current receivables of $127 million and $114 million at December 31, 2013 and 2012, respectively, arose from sales, principally of Aviation goods and services, on open account to various agencies of the U.S. government. As a percentage of GE revenues, approximately 4% of GE sales of goods and services were to the U.S. government in 2013, 2012 and 2011. |
Inventories
Inventories | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Inventory, Net [Abstract] | ' | |||||
Inventories | ' | |||||
NOTE 5. INVENTORIES | ||||||
December 31 (In millions) | 2013 | 2012 | ||||
GE | ||||||
Raw materials and work in process | $ | 10,220 | $ | 9,295 | ||
Finished goods | 6,726 | 6,020 | ||||
Unbilled shipments | 584 | 378 | ||||
17,530 | 15,693 | |||||
Less revaluation to LIFO | -273 | -398 | ||||
17,257 | 15,295 | |||||
GECC | ||||||
Finished goods | 68 | 79 | ||||
Total | $ | 17,325 | $ | 15,374 |
GECC_Financing_Receivables_All
GECC Financing Receivables, Allowance For Losses On Financing Receivables and Supplemental Information On Credit Quality | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Loans and Leases Receivable Disclosure [Abstract] | ' | ||||||||||||||||||||
GECC Financing Receivables and Allowance For Losses On Financing Receivables | ' | ||||||||||||||||||||
NOTE 6. GECC FINANCING RECEIVABLES, ALLOWANCE FOR LOSSES ON FINANCING RECEIVABLES AND SUPPLEMENTAL INFORMATION ON CREDIT QUALITY | |||||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | |||||||||||||||||||
Loans, net of deferred income(a) | $ | 231,268 | $ | 240,634 | |||||||||||||||||
Investment in financing leases, net of deferred income | 26,939 | 32,471 | |||||||||||||||||||
258,207 | 273,105 | ||||||||||||||||||||
Less allowance for losses | -5,178 | -4,944 | |||||||||||||||||||
Financing receivables - net(b) | $ | 253,029 | $ | 268,161 | |||||||||||||||||
Deferred income was $2,013 million and $2,184 million at December 31, 2013 and 2012, respectively. | |||||||||||||||||||||
Financing receivables at December 31, 2013 and 2012 included $544 million and $750 million, respectively, relating to loans that had been acquired in a transfer but have been subject to credit deterioration since origination. | |||||||||||||||||||||
GECC financing receivables include both loans and financing leases. Loans represent transactions in a variety of forms, including revolving charge and credit, mortgages, installment loans, intermediate-term loans and revolving loans secured by business assets. The portfolio includes loans carried at the principal amount on which finance charges are billed periodically, and loans carried at gross book value, which includes finance charges. | |||||||||||||||||||||
Investment in financing leases consists of direct financing and leveraged leases of aircraft, railroad rolling stock, autos, other transportation equipment, data processing equipment, medical equipment, commercial real estate and other manufacturing, power generation, and commercial equipment and facilities. | |||||||||||||||||||||
For federal income tax purposes, the leveraged leases and the majority of the direct financing leases are leases in which GECC depreciates the leased assets and is taxed upon the accrual of rental income. Certain direct financing leases are loans for federal income tax purposes. For these transactions, GECC is taxed only on the portion of each payment that constitutes interest, unless the interest is tax-exempt (e.g., certain obligations of state governments). | |||||||||||||||||||||
Investment in direct financing and leveraged leases represents net unpaid rentals and estimated unguaranteed residual values of leased equipment, less related deferred income. GECC has no general obligation for principal and interest on notes and other instruments representing third-party participation related to leveraged leases; such notes and other instruments have not been included in liabilities but have been offset against the related rentals receivable. The GECC share of rentals receivable on leveraged leases is subordinate to the share of other participants who also have security interests in the leased equipment. For federal income tax purposes, GECC is entitled to deduct the interest expense accruing on non-recourse financing related to leveraged leases. | |||||||||||||||||||||
Net Investment in Financing Leases | |||||||||||||||||||||
Total financing leases | Direct financing leases(a) | Leveraged leases(b) | |||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||
Total minimum lease payments receivable | $ | 29,970 | $ | 36,451 | $ | 24,571 | $ | 29,416 | $ | 5,399 | $ | 7,035 | |||||||||
Less principal and interest on third-party | |||||||||||||||||||||
non-recourse debt | -3,480 | -4,662 | 0 | 0 | -3,480 | -4,662 | |||||||||||||||
Net rentals receivables | 26,490 | 31,789 | 24,571 | 29,416 | 1,919 | 2,373 | |||||||||||||||
Estimated unguaranteed residual value | |||||||||||||||||||||
of leased assets | 5,073 | 6,346 | 3,067 | 4,272 | 2,006 | 2,074 | |||||||||||||||
Less deferred income | -4,624 | -5,664 | -3,560 | -4,453 | -1,064 | -1,211 | |||||||||||||||
Investment in financing leases, net of | |||||||||||||||||||||
deferred income | 26,939 | 32,471 | 24,078 | 29,235 | 2,861 | 3,236 | |||||||||||||||
Less amounts to arrive at net investment | |||||||||||||||||||||
Allowance for losses | -202 | -198 | -192 | -193 | -10 | -5 | |||||||||||||||
Deferred taxes | -4,075 | -4,506 | -1,783 | -2,245 | -2,292 | -2,261 | |||||||||||||||
Net investment in financing leases | $ | 22,662 | $ | 27,767 | $ | 22,103 | $ | 26,797 | $ | 559 | $ | 970 | |||||||||
Included $317 million and $330 million of initial direct costs on direct financing leases at December 31, 2013 and 2012, respectively. | |||||||||||||||||||||
Included pre-tax income of $31 million and $81 million and income tax of $11 million and $32 million during 2013 and 2012, respectively. Net investment credits recognized on leveraged leases during 2013 and 2012 were insignificant. | |||||||||||||||||||||
Contractual Maturities | |||||||||||||||||||||
Total | Net rentals | ||||||||||||||||||||
(In millions) | loans | receivable | |||||||||||||||||||
Due in | |||||||||||||||||||||
2014 | $ | 54,971 | $ | 8,184 | |||||||||||||||||
2015 | 19,270 | 6,114 | |||||||||||||||||||
2016 | 19,619 | 4,209 | |||||||||||||||||||
2017 | 17,281 | 2,733 | |||||||||||||||||||
2018 | 14,714 | 1,798 | |||||||||||||||||||
2019 and later | 43,121 | 3,452 | |||||||||||||||||||
168,976 | 26,490 | ||||||||||||||||||||
Consumer revolving loans | 62,292 | - | |||||||||||||||||||
Total | $ | 231,268 | $ | 26,490 | |||||||||||||||||
We expect actual maturities to differ from contractual maturities. | |||||||||||||||||||||
The following tables provide additional information about our financing receivables and related activity in the allowance for losses for our Commercial, Real Estate and Consumer portfolios. | |||||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | |||||||||||||||||||
Commercial | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 68,585 | $ | 72,517 | |||||||||||||||||
Europe (a) | 37,962 | 37,037 | |||||||||||||||||||
Asia | 9,469 | 11,401 | |||||||||||||||||||
Other (a) | 451 | 603 | |||||||||||||||||||
Total CLL | 116,467 | 121,558 | |||||||||||||||||||
Energy Financial Services | 3,107 | 4,851 | |||||||||||||||||||
GE Capital Aviation Services (GECAS) | 9,377 | 10,915 | |||||||||||||||||||
Other | 318 | 486 | |||||||||||||||||||
Total Commercial | 129,269 | 137,810 | |||||||||||||||||||
Real Estate | 19,899 | 20,946 | |||||||||||||||||||
Consumer | |||||||||||||||||||||
Non-U.S. residential mortgages | 30,501 | 33,350 | |||||||||||||||||||
Non-U.S. installment and revolving credit | 13,677 | 17,816 | |||||||||||||||||||
U.S. installment and revolving credit | 55,854 | 50,853 | |||||||||||||||||||
Non-U.S. auto | 2,054 | 4,260 | |||||||||||||||||||
Other | 6,953 | 8,070 | |||||||||||||||||||
Total Consumer | 109,039 | 114,349 | |||||||||||||||||||
Total financing receivables | 258,207 | 273,105 | |||||||||||||||||||
Less allowance for losses | -5,178 | -4,944 | |||||||||||||||||||
Total financing receivables – net | $ | 253,029 | $ | 268,161 | |||||||||||||||||
During 2013, we transferred our European equipment services portfolio from CLL Other to CLL Europe. Prior-period amounts were reclassified to conform to the current period presentation. | |||||||||||||||||||||
Allowance for Losses on Financing Receivables | |||||||||||||||||||||
Balance at | Provision | Balance at | |||||||||||||||||||
January 1, | charged to | Gross | December 31, | ||||||||||||||||||
(In millions) | 2013 | operations | Other | (a) | write-offs | (b) | Recoveries | (b) | 2013 | ||||||||||||
Commercial | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 490 | $ | 292 | $ | -1 | $ | -422 | $ | 114 | $ | 473 | |||||||||
Europe | 445 | 321 | 12 | -441 | 78 | 415 | |||||||||||||||
Asia | 80 | 124 | -11 | -115 | 12 | 90 | |||||||||||||||
Other | 6 | -3 | - | -3 | - | - | |||||||||||||||
Total CLL | 1,021 | 734 | - | -981 | 204 | 978 | |||||||||||||||
Energy Financial | |||||||||||||||||||||
Services | 9 | -1 | - | - | - | 8 | |||||||||||||||
GECAS | 8 | 9 | - | - | - | 17 | |||||||||||||||
Other | 3 | -1 | - | -2 | 2 | 2 | |||||||||||||||
Total Commercial | 1,041 | 741 | - | -983 | 206 | 1,005 | |||||||||||||||
Real Estate | 320 | 28 | -4 | -163 | 11 | 192 | |||||||||||||||
Consumer | |||||||||||||||||||||
Non-U.S. residential mortgages | 480 | 269 | 10 | -458 | 57 | 358 | |||||||||||||||
Non-U.S. installment | |||||||||||||||||||||
and revolving credit | 582 | 589 | -93 | -967 | 483 | 594 | |||||||||||||||
U.S. installment and revolving credit | 2,282 | 3,006 | -51 | -2,954 | 540 | 2,823 | |||||||||||||||
Non-U.S. auto | 67 | 58 | -13 | -126 | 70 | 56 | |||||||||||||||
Other | 172 | 127 | 11 | -236 | 76 | 150 | |||||||||||||||
Total Consumer | 3,583 | 4,049 | -136 | -4,741 | 1,226 | 3,981 | |||||||||||||||
Total | $ | 4,944 | $ | 4,818 | $ | -140 | $ | -5,887 | $ | 1,443 | $ | 5,178 | |||||||||
Other primarily included dispositions 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. | |||||||||||||||||||||
Balance at | Provision | Balance at | |||||||||||||||||||
January 1, | charged to | Gross | December 31, | ||||||||||||||||||
(In millions) | 2012 | operations | Other | (a) | write-offs | (b) | Recoveries | (b) | 2012 | ||||||||||||
Commercial | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 889 | $ | 109 | $ | -51 | $ | -568 | $ | 111 | $ | 490 | |||||||||
Europe | 400 | 374 | -3 | -390 | 64 | 445 | |||||||||||||||
Asia | 157 | 37 | -3 | -134 | 23 | 80 | |||||||||||||||
Other | 4 | 13 | -1 | -10 | 0 | 6 | |||||||||||||||
Total CLL | 1,450 | 533 | -58 | -1,102 | 198 | 1,021 | |||||||||||||||
Energy Financial | |||||||||||||||||||||
Services | 26 | 4 | - | -24 | 3 | 9 | |||||||||||||||
GECAS | 17 | 4 | - | -13 | - | 8 | |||||||||||||||
Other | 37 | 1 | -20 | -17 | 2 | 3 | |||||||||||||||
Total Commercial | 1,530 | 542 | -78 | -1,156 | 203 | 1,041 | |||||||||||||||
Real Estate | 1,089 | 72 | -44 | -810 | 13 | 320 | |||||||||||||||
Consumer | |||||||||||||||||||||
Non-U.S. residential mortgages | 545 | 112 | 8 | -261 | 76 | 480 | |||||||||||||||
Non-U.S. installment | |||||||||||||||||||||
and revolving credit | 690 | 290 | 24 | -974 | 552 | 582 | |||||||||||||||
U.S. installment and revolving credit | 2,008 | 2,666 | -24 | -2,906 | 538 | 2,282 | |||||||||||||||
Non-U.S. auto | 101 | 18 | -4 | -146 | 98 | 67 | |||||||||||||||
Other | 199 | 132 | 18 | -257 | 80 | 172 | |||||||||||||||
Total Consumer | 3,543 | 3,218 | 22 | -4,544 | 1,344 | 3,583 | |||||||||||||||
Total | $ | 6,162 | $ | 3,832 | $ | -100 | $ | -6,510 | $ | 1,560 | $ | 4,944 | |||||||||
Other primarily included transfers to 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. | |||||||||||||||||||||
Balance at | Provision | Balance at | |||||||||||||||||||
January 1, | charged to | Gross | December 31, | ||||||||||||||||||
(In millions) | 2011 | operations | (a) | Other | (b) | write-offs | (c) | Recoveries | (c) | 2011 | |||||||||||
Commercial | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 1,288 | $ | 281 | $ | -96 | $ | -700 | $ | 116 | $ | 889 | |||||||||
Europe | 429 | 195 | -5 | -286 | 67 | 400 | |||||||||||||||
Asia | 222 | 105 | 13 | -214 | 31 | 157 | |||||||||||||||
Other | 6 | 3 | -3 | -2 | 0 | 4 | |||||||||||||||
Total CLL | 1,945 | 584 | -91 | -1,202 | 214 | 1,450 | |||||||||||||||
Energy Financial | |||||||||||||||||||||
Services | 22 | 0 | -1 | -4 | 9 | 26 | |||||||||||||||
GECAS | 20 | 0 | 0 | -3 | 0 | 17 | |||||||||||||||
Other | 58 | 23 | 0 | -47 | 3 | 37 | |||||||||||||||
Total Commercial | 2,045 | 607 | -92 | -1,256 | 226 | 1,530 | |||||||||||||||
Real Estate | 1,488 | 324 | 2 | -747 | 22 | 1,089 | |||||||||||||||
Consumer | |||||||||||||||||||||
Non-U.S. residential | |||||||||||||||||||||
mortgages | 688 | 116 | -13 | -295 | 49 | 545 | |||||||||||||||
Non-U.S. installment | |||||||||||||||||||||
and revolving credit | 898 | 470 | -29 | -1,198 | 549 | 690 | |||||||||||||||
U.S. installment and | |||||||||||||||||||||
revolving credit | 2,333 | 2,241 | 1 | -3,095 | 528 | 2,008 | |||||||||||||||
Non-U.S. auto | 168 | 30 | -4 | -216 | 123 | 101 | |||||||||||||||
Other | 259 | 142 | -20 | -272 | 90 | 199 | |||||||||||||||
Total Consumer | 4,346 | 2,999 | -65 | -5,076 | 1,339 | 3,543 | |||||||||||||||
Total | $ | 7,879 | $ | 3,930 | $ | -155 | $ | -7,079 | $ | 1,587 | $ | 6,162 | |||||||||
(a) Included a provision of $77 million at Consumer related to the July 1, 2011 adoption of ASU 2011-02. | |||||||||||||||||||||
(b) Other primarily included transfers to held-for-sale and the effects of currency exchange. | |||||||||||||||||||||
(c) 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. | |||||||||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||
We provide further detailed information about the credit quality of our Commercial, Real Estate and Consumer financing receivables portfolios. 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 nonearning data as key performance indicators. The categories used within this section such as impaired loans, 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 nonearning and delinquent are defined by us and are used in our process for managing our financing receivables. Definitions of these categories are provided in Note 1. | |||||||||||||||||||||
Past Due Financing Receivables | |||||||||||||||||||||
The following tables display payment performance of Commercial, Real Estate, and Consumer financing receivables. | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Over 30 days | Over 90 days | Over 30 days | Over 90 days | ||||||||||||||||||
31-Dec | past due | past due(a) | past due | past due | |||||||||||||||||
Commercial | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | 1.1 | % | 0.5 | % | 1.1 | % | 0.5 | % | |||||||||||||
Europe | 3.8 | 2.1 | 3.7 | 2.1 | |||||||||||||||||
Asia | 0.5 | 0.3 | 0.9 | 0.6 | |||||||||||||||||
Other | - | - | 0.1 | - | |||||||||||||||||
Total CLL | 1.9 | 1 | 1.9 | 1 | |||||||||||||||||
Energy Financial Services | - | - | - | - | |||||||||||||||||
GECAS | - | - | - | - | |||||||||||||||||
Other | 0.1 | 0.1 | 2.8 | 2.8 | |||||||||||||||||
Total Commercial | 1.7 | 0.9 | 1.7 | 0.9 | |||||||||||||||||
Real Estate | 1.2 | 1.1 | 2.3 | 2.2 | |||||||||||||||||
Consumer | |||||||||||||||||||||
Non-U.S. residential mortgages(b) | 11.2 | 6.9 | 12 | 7.5 | |||||||||||||||||
Non-U.S. installment and revolving credit | 3.7 | 1.1 | 3.8 | 1.1 | |||||||||||||||||
U.S. installment and revolving credit | 4.4 | 2 | 4.6 | 2 | |||||||||||||||||
Non-U.S. auto | 4.4 | 0.7 | 3.1 | 0.5 | |||||||||||||||||
Other | 2.5 | 1.4 | 2.8 | 1.7 | |||||||||||||||||
Total Consumer | 6.1 | 3.2 | 6.5 | 3.4 | |||||||||||||||||
Total | 3.5 | % | 1.9 | % | 3.7 | % | 2.1 | % | |||||||||||||
Included $1,197 million of Consumer loans at December 31, 2013, 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. | |||||||||||||||||||||
Consumer loans secured by residential real estate (both revolving and closed-end loans) are written down to the fair value of collateral, less costs to sell, no later than when they become 180 days past due. | |||||||||||||||||||||
Nonaccrual Financing Receivables | |||||||||||||||||||||
Nonaccrual financing | Nonearning financing | ||||||||||||||||||||
receivables(a) | receivables(a) | ||||||||||||||||||||
December 31 (Dollars in millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||
Commercial | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 1,275 | $ | 1,951 | $ | 1,243 | $ | 1,333 | |||||||||||||
Europe | 1,046 | 1,740 | 1,046 | 1,299 | |||||||||||||||||
Asia | 413 | 395 | 413 | 193 | |||||||||||||||||
Other | - | 52 | - | 52 | |||||||||||||||||
Total CLL | 2,734 | 4,138 | 2,702 | 2,877 | |||||||||||||||||
Energy Financial Services | 4 | - | 4 | - | |||||||||||||||||
GECAS | - | 3 | - | - | |||||||||||||||||
Other | 6 | 25 | 6 | 13 | |||||||||||||||||
Total Commercial | 2,744 | (b) | 4,166 | (b) | 2,712 | 2,890 | |||||||||||||||
Real Estate | 2,551 | (c) | 4,885 | (c) | 2,301 | 444 | |||||||||||||||
Consumer | |||||||||||||||||||||
Non-U.S. residential mortgages | 2,161 | 2,598 | 1,766 | 2,567 | |||||||||||||||||
Non-U.S. installment and revolving credit | 88 | 213 | 88 | 213 | |||||||||||||||||
U.S. installment and revolving credit | 2 | 1,026 | 2 | 1,026 | |||||||||||||||||
Non-U.S. auto | 18 | 24 | 18 | 24 | |||||||||||||||||
Other | 351 | 427 | 345 | 351 | |||||||||||||||||
Total Consumer | 2,620 | (d) | 4,288 | (d) | 2,219 | 4,181 | |||||||||||||||
Total | $ | 7,915 | $ | 13,339 | $ | 7,232 | $ | 7,515 | |||||||||||||
Allowance for losses percentage | |||||||||||||||||||||
Commercial | 36.6 | % | 25 | % | 37.1 | % | 36 | % | |||||||||||||
Real Estate | 7.5 | 6.6 | 8.3 | 72.1 | |||||||||||||||||
Consumer | 151.9 | 83.6 | 179.4 | 85.7 | |||||||||||||||||
Total | 65.4 | % | 37.1 | % | 71.6 | % | 65.8 | % | |||||||||||||
During the fourth quarter of 2013, we revised our methods for classifying financing receivables as nonaccrual and nonearning to more closely align with regulatory guidance. Given that the revised methods result in nonaccrual and nonearning amounts that are substantially the same, we plan to discontinue the reporting of nonearning financing receivables in the first quarter of 2014. Further information on our nonaccrual and nonearning financing receivables is provided in Note 1 to the consolidated financial statements. | |||||||||||||||||||||
Included $1,397 million and $2,647 million at December 31, 2013 and 2012, respectively, that are currently paying in accordance with their contractual terms. | |||||||||||||||||||||
Included $2,308 million and $4,461 million at December 31, 2013 and 2012, respectively, that are currently paying in accordance with their contractual terms. | |||||||||||||||||||||
Included $527 million and $734 million at December 31, 2013 and 2012, respectively, that are currently paying in accordance with their contractual terms. | |||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||
The following tables provide information about loans classified as impaired and specific reserves related to Commercial, Real Estate and Consumer. | |||||||||||||||||||||
With no specific allowance | With a specific allowance | ||||||||||||||||||||
Recorded | Unpaid | Average | Recorded | Unpaid | Average | ||||||||||||||||
investment | principal | investment in | investment | principal | Associated | investment | |||||||||||||||
December 31 (In millions) | in loans | balance | loans | in loans | balance | allowance | in loans | ||||||||||||||
2013 | |||||||||||||||||||||
Commercial | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 1,670 | $ | 2,187 | $ | 2,154 | $ | 417 | $ | 505 | $ | 96 | $ | 497 | |||||||
Europe | 802 | 1,589 | 956 | 580 | 921 | 211 | 536 | ||||||||||||||
Asia | 302 | 349 | 180 | 111 | 125 | 20 | 93 | ||||||||||||||
Other | - | - | - | - | - | - | 12 | ||||||||||||||
Total CLL | 2,774 | 4,125 | 3,290 | 1,108 | 1,551 | 327 | 1,138 | ||||||||||||||
Energy Financial Services | - | - | - | 4 | 4 | 1 | 2 | ||||||||||||||
GECAS | - | - | - | - | - | - | 1 | ||||||||||||||
Other | 2 | 3 | 9 | 4 | 4 | - | 5 | ||||||||||||||
Total Commercial(a) | 2,776 | 4,128 | 3,299 | 1,116 | 1,559 | 328 | 1,146 | ||||||||||||||
Real Estate(b) | 2,615 | 3,036 | 3,058 | 1,245 | 1,507 | 74 | 1,688 | ||||||||||||||
Consumer(c) | 109 | 153 | 98 | 2,879 | 2,948 | 567 | 3,058 | ||||||||||||||
Total | $ | 5,500 | $ | 7,317 | $ | 6,455 | $ | 5,240 | $ | 6,014 | $ | 969 | $ | 5,892 | |||||||
2012 | |||||||||||||||||||||
Commercial | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 2,487 | $ | 2,927 | $ | 2,535 | $ | 557 | $ | 681 | $ | 178 | $ | 987 | |||||||
Europe | 1,131 | 1,901 | 1,009 | 643 | 978 | 278 | 805 | ||||||||||||||
Asia | 62 | 64 | 62 | 109 | 120 | 23 | 134 | ||||||||||||||
Other | - | - | 43 | 52 | 68 | 6 | 16 | ||||||||||||||
Total CLL | 3,680 | 4,892 | 3,649 | 1,361 | 1,847 | 485 | 1,942 | ||||||||||||||
Energy Financial Services | - | - | 2 | - | - | - | 7 | ||||||||||||||
GECAS | - | - | 17 | 3 | 3 | - | 5 | ||||||||||||||
Other | 17 | 28 | 26 | 8 | 8 | 2 | 40 | ||||||||||||||
Total Commercial(a) | 3,697 | 4,920 | 3,694 | 1,372 | 1,858 | 487 | 1,994 | ||||||||||||||
Real Estate(b) | 3,491 | 3,712 | 3,773 | 2,202 | 2,807 | 188 | 3,752 | ||||||||||||||
Consumer(c) | 105 | 117 | 100 | 3,103 | 3,141 | 673 | 2,949 | ||||||||||||||
Total | $ | 7,293 | $ | 8,749 | $ | 7,567 | $ | 6,677 | $ | 7,806 | $ | 1,348 | $ | 8,695 | |||||||
We recognized $218 million and $253 million of interest income, including $60 million and $92 million on a cash basis, for the years ended December 31, 2013 and 2012, respectively, principally in our CLL Americas business. The total average investment in impaired loans for the years ended December 31, 2013 and 2012 was $4,445 million and $5,688 million, respectively. | |||||||||||||||||||||
We recognized $187 million and $329 million of interest income, including $135 million and $237 million on a cash basis, for the years ended December 31, 2013 and 2012, respectively. The total average investment in impaired loans for the years ended December 31, 2013 and 2012 was $4,746 million and $7,525 million, respectively. | |||||||||||||||||||||
We recognized $221 million and $168 million of interest income, including $3 million and $4 million on a cash basis, for the years ended December 31, 2013 and 2012, respectively, principally in our Consumer-U.S. installment and revolving credit portfolios. The total average investment in impaired loans for the years ended December 31, 2013 and 2012 was $3,156 million and $3,049 million, respectively. | |||||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | |||||||||||||||||||
Commercial | |||||||||||||||||||||
Non-impaired financing receivables | $ | 125,377 | $ | 132,741 | |||||||||||||||||
General reserves | 677 | 554 | |||||||||||||||||||
Impaired loans | 3,892 | 5,069 | |||||||||||||||||||
Specific reserves | 328 | 487 | |||||||||||||||||||
Real Estate | |||||||||||||||||||||
Non-impaired financing receivables | $ | 16,039 | $ | 15,253 | |||||||||||||||||
General reserves | 118 | 132 | |||||||||||||||||||
Impaired loans | 3,860 | 5,693 | |||||||||||||||||||
Specific reserves | 74 | 188 | |||||||||||||||||||
Consumer | |||||||||||||||||||||
Non-impaired financing receivables | $ | 106,051 | $ | 111,141 | |||||||||||||||||
General reserves | 3,414 | 2,910 | |||||||||||||||||||
Impaired loans | 2,988 | 3,208 | |||||||||||||||||||
Specific reserves | 567 | 673 | |||||||||||||||||||
Total | |||||||||||||||||||||
Non-impaired financing receivables | $ | 247,467 | $ | 259,135 | |||||||||||||||||
General reserves | 4,209 | 3,596 | |||||||||||||||||||
Impaired loans | 10,740 | 13,970 | |||||||||||||||||||
Specific reserves | 969 | 1,348 | |||||||||||||||||||
Impaired loans classified as TDRs in our CLL business were $2,961 million and $3,872 million at December 31, 2013 and 2012, respectively, and were primarily attributable to CLL Americas ($1,770 million and $2,577 million, respectively). For the year ended December 31, 2013, we modified $1,509 million of loans classified as TDRs, primarily in CLL Americas ($737 million). 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 $1,509 million and $2,936 million of modifications classified as TDRs during 2013 and 2012, respectively, $71 million and $217 million have subsequently experienced a payment default in 2013 and 2012, respectively. | |||||||||||||||||||||
Real Estate TDRs decreased from $5,146 million at December 31, 2012 to $3,625 million at December 31, 2013, primarily driven by resolution of TDRs through paydowns, partially offset by extensions of loans scheduled to mature during 2013, some of which were classified as TDRs upon modification. We deem loan modifications to be TDRs when we have granted a concession to a borrower experiencing financial difficulty and we do not receive adequate compensation in the form of an effective interest rate that is at current market rates of interest given the risk characteristics of the loan or other consideration that compensates us for the value of the concession. The limited liquidity and higher return requirements in the real estate market for loans with higher loan-to-value (LTV) ratios have typically resulted in the conclusion that the modified terms are not at current market rates of interest, even if the modified loans are expected to be fully recoverable. For the year ended December 31, 2013, we modified $1,595 million of loans classified as TDRs. Changes to these loans primarily included maturity extensions, principal payment acceleration, changes to collateral or covenant terms and cash sweeps, which are in addition to, or sometimes in lieu of, fees and rate increases. Of our $1,595 million and $4,351 million of modifications classified as TDRs during 2013 and 2012, respectively, $197 million and $210 million have subsequently experienced a payment default in 2013 and 2012, respectively. | |||||||||||||||||||||
The vast majority of our Consumer nonaccrual financing receivables are smaller-balance homogeneous loans evaluated collectively, by portfolio, for impairment and therefore are outside the scope of the disclosure requirement for impaired loans. Accordingly, 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, and commercial loans in our Consumer–Other portfolio. The recorded investment of these impaired loans totaled $2,988 million (with an unpaid principal balance of $3,101 million) and comprised $109 million with no specific allowance, primarily all in our Consumer–Other portfolio, and $2,879 million with a specific allowance of $567 million at December 31, 2013. The impaired loans with a specific allowance included $261 million with a specific allowance of $35 million in our Consumer–Other portfolio and $2,618 million with a specific allowance of $532 million across the remaining Consumer business and had an unpaid principal balance and average investment of $2,948 million and $3,058 million, respectively, at December 31, 2013. | |||||||||||||||||||||
Impaired loans classified as TDRs in our Consumer business were $2,874 million and $3,041 million at December 31, 2013 and 2012, 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, and are primarily concentrated in our non-U.S. residential mortgage and U.S. credit card portfolios. For the year ended December 31, 2013, we modified $1,441 million of consumer loans for borrowers experiencing financial difficulties, which are classified as TDRs, and included $879 million of non-U.S. consumer loans, primarily residential mortgages, credit cards and personal loans and $562 million of U.S. consumer loans, primarily credit cards. 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 $1,441 million and $1,751 million of modifications classified as TDRs during 2013 and 2012, respectively, $266 million and $334 million have subsequently experienced a payment default in 2013 and 2012, 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, statistically validated 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 validation controls. The frequency of rating updates is set by our credit risk policy, which requires annual Risk Committee approval. The models are updated on a regular basis and statistically validated annually, or more frequently as circumstances warrant. | |||||||||||||||||||||
The table below summarizes our Commercial financing receivables by risk category. 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. | |||||||||||||||||||||
Secured | |||||||||||||||||||||
December 31 (In millions) | A | B | C | Total | |||||||||||||||||
2013 | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 65,444 | $ | 1,587 | $ | 1,554 | $ | 68,585 | |||||||||||||
Europe(a) | 35,968 | 479 | 1,019 | 37,466 | |||||||||||||||||
Asia | 8,962 | 140 | 218 | 9,320 | |||||||||||||||||
Other(a) | 101 | - | - | 101 | |||||||||||||||||
Total CLL | 110,475 | 2,206 | 2,791 | 115,472 | |||||||||||||||||
Energy Financial Services | 2,969 | 9 | - | 2,978 | |||||||||||||||||
GECAS | 9,175 | 50 | 152 | 9,377 | |||||||||||||||||
Other | 318 | - | - | 318 | |||||||||||||||||
Total | $ | 122,937 | $ | 2,265 | $ | 2,943 | $ | 128,145 | |||||||||||||
2012 | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 68,360 | $ | 1,775 | $ | 2,382 | $ | 72,517 | |||||||||||||
Europe(a) | 33,756 | 1,188 | 1,256 | 36,200 | |||||||||||||||||
Asia | 10,732 | 117 | 372 | 11,221 | |||||||||||||||||
Other(a) | 159 | - | 94 | 253 | |||||||||||||||||
Total CLL | 113,007 | 3,080 | 4,104 | 120,191 | |||||||||||||||||
Energy Financial Services | 4,725 | - | - | 4,725 | |||||||||||||||||
GECAS | 10,681 | 223 | 11 | 10,915 | |||||||||||||||||
Other | 486 | - | - | 486 | |||||||||||||||||
Total | $ | 128,899 | $ | 3,303 | $ | 4,115 | $ | 136,317 | |||||||||||||
During 2013, we transferred our European equipment services portfolio from CLL Other to CLL Europe. Prior-period amounts were reclassified to conform to the current period presentation. | |||||||||||||||||||||
For our secured financing receivables portfolio, our collateral position and ability to work out problem accounts mitigates 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 predominantly in our CLL businesses and are primarily composed of senior term lending facilities and factoring programs secured by various asset types including inventory, accounts receivable, cash, equipment 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 nonearning or impaired. | |||||||||||||||||||||
Our unsecured Commercial financing receivables portfolio is primarily attributable to our Interbanca S.p.A. and GE Sanyo Credit acquisitions in Europe and Asia, respectively. At December 31, 2013 and 2012, these financing receivables included $313 million and $458 million rated A, $580 million and $583 million rated B, and $231 million and $452 million rated C, respectively. | |||||||||||||||||||||
Real Estate | |||||||||||||||||||||
Due to the primarily non-recourse nature of our Debt portfolio, loan-to-value ratios provide the best indicators of the credit quality of the portfolio. | |||||||||||||||||||||
Loan-to-value ratio | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Less than | 80% to | Greater than | Less than | 80% to | Greater than | ||||||||||||||||
December 31 (In millions) | 80% | 95% | 95% | 80% | 95% | 95% | |||||||||||||||
Debt | $ | 15,576 | $ | 1,300 | $ | 2,111 | $ | 13,570 | $ | 2,572 | $ | 3,604 | |||||||||
By contrast, the credit quality of the owner occupied/credit tenant portfolio is primarily influenced by the strength of the borrower's general credit quality, which is reflected in our internal risk rating process, consistent with the process we use for our Commercial portfolio. At December 31, 2013, the internal risk rating of A, B and C for our owner occupied/credit tenant portfolio approximated $571 million, $179 million and $162 million, respectively, as compared to December 31, 2012, ratings of $956 million, $25 million and $219 million, respectively. | |||||||||||||||||||||
Within Real Estate-Debt, these financing receivables are primarily concentrated in our North American and European Lending platforms and are secured by various property types. A substantial majority of the Real Estate-Debt financing receivables with loan-to-value ratios greater than 95% are paying in accordance with contractual terms. Substantially all of these loans and the majority of our owner occupied/credit tenant financing receivables included in Category C are impaired loans that are subject to the specific reserve evaluation process described in Note 1. The ultimate recoverability of impaired loans is driven by collection strategies that do not necessarily depend on the sale of the underlying collateral and include full or partial repayments through third-party refinancing and restructurings. | |||||||||||||||||||||
Consumer | |||||||||||||||||||||
At December 31, 2013, our U.S. consumer financing receivables included private-label credit card and sales financing for approximately 61 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 67% 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 33% 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 comprise residential loans and lending to small and medium-sized enterprises predominantly secured by auto and equipment, inventory finance and cash flow loans. 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 6% of the related portfolio. | |||||||||||||||||||||
Non-U.S. residential mortgages | |||||||||||||||||||||
For our secured non-U.S. residential mortgage book, we assess the overall credit quality of the portfolio through loan-to-value ratios (the ratio of the outstanding debt on a property to the value of that property at origination). In the event of default and repossession of the underlying collateral, we have the ability to remarket and sell the properties to eliminate or mitigate the potential risk of loss. The table below provides additional information about our non-U.S. residential mortgages based on loan-to-value ratios. | |||||||||||||||||||||
Loan-to-value ratio | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
80% or | Greater than | Greater than | 80% or | Greater than | Greater than | ||||||||||||||||
December 31 (In millions) | less | 80% to 90% | 90% | less | 80% to 90% | 90% | |||||||||||||||
Non-U.S. residential mortgages | $ | 17,224 | $ | 5,130 | $ | 8,147 | $ | 18,568 | $ | 5,699 | $ | 9,083 | |||||||||
The majority of these financing receivables are in our U.K. and France portfolios and have re-indexed loan-to-value ratios of 77% and 56%, respectively. Re-indexed loan-to-value ratios may not reflect actual realizable values of future repossessions. We have third-party mortgage insurance for about 24% of the balance of Consumer non-U.S. residential mortgage loans with loan-to-value ratios greater than 90% at December 31, 2013. Such loans were primarily originated in France and the U.K. | |||||||||||||||||||||
Installment and Revolving Credit | |||||||||||||||||||||
For our unsecured lending products, including the non-U.S. and U.S. installment and revolving credit and non-U.S. auto portfolios, we assess overall credit quality using internal and external credit scores. Our internal credit scores imply a probability of default that we consistently translate into three approximate credit bureau equivalent credit score categories, including (a) 671 or higher, which are considered the strongest credits; (b) 626 to 670, which are considered moderate credit risk; and (c) 625 or less, which are considered weaker credits. | |||||||||||||||||||||
Internal ratings translated to approximate credit bureau equivalent score | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
671 or | 626 to | 625 or | 671 or | 626 to | 625 or | ||||||||||||||||
December 31 (In millions) | higher | 670 | less | higher | 670 | less | |||||||||||||||
Non-U.S. installment and revolving credit | $ | 8,310 | $ | 2,855 | $ | 2,512 | $ | 10,228 | $ | 4,267 | $ | 3,321 | |||||||||
U.S. installment and revolving credit | 36,723 | 11,101 | 8,030 | 33,204 | 9,753 | 7,896 | |||||||||||||||
Non-U.S. auto | 1,395 | 373 | 286 | 3,141 | 666 | 453 | |||||||||||||||
Of those financing receivable accounts with credit bureau equivalent scores of 625 or less at December 31, 2013, 97% relate to installment and revolving credit accounts. These smaller-balance accounts have an average outstanding balance less than one thousand U.S. dollars and are primarily concentrated in our retail card and sales finance receivables in the U.S. (which are often subject to profit and loss-sharing arrangements), and closed-end loans outside the U.S., 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. | |||||||||||||||||||||
Consumer – Other | |||||||||||||||||||||
Secured lending in Consumer – Other comprises loans to small and medium-sized enterprises predominantly secured by auto and equipment, inventory finance and cash flow loans. 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 December 31, 2013, Consumer – Other financing receivables of $6,137 million, $315 million and $501 million were rated A, B and C, respectively. At December 31, 2012, Consumer – Other financing receivables of $6,873 million, $451 million and $746 million were rated A, B and C, respectively. |
Property_Plant_and_Equipment
Property, Plant and Equipment | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment | ' | ||||||||
NOTE 7. PROPERTY, PLANT AND EQUIPMENT | |||||||||
Depreciable | |||||||||
lives-new | |||||||||
December 31 (Dollars in millions) | (in years) | 2013 | 2012 | ||||||
Original cost | |||||||||
GE | |||||||||
Land and improvements | 8 | (a) | $ | 707 | $ | 612 | |||
Buildings, structures and related equipment | Aug-40 | 8,910 | 8,361 | ||||||
Machinery and equipment | 20-Apr | 25,323 | 24,090 | ||||||
Leasehold costs and manufacturing plant under construction | 10-Jan | 3,309 | 2,815 | ||||||
38,249 | 35,878 | ||||||||
GECC(b) | |||||||||
Land and improvements, buildings, structures and related equipment | Jan-35 | (a) | 2,504 | 2,485 | |||||
Equipment leased to others | |||||||||
Aircraft | 20 | 50,337 | 49,954 | ||||||
Vehicles | 20-Jan | 14,656 | 15,952 | ||||||
Railroad rolling stock | Apr-50 | 4,636 | 4,180 | ||||||
Construction and manufacturing | 30-Jan | 2,916 | 3,055 | ||||||
All other | 27-Jul | 3,518 | 3,427 | ||||||
78,567 | 79,053 | ||||||||
Eliminations | -347 | -363 | |||||||
Total | $ | 116,469 | $ | 114,568 | |||||
Net carrying value | |||||||||
GE | |||||||||
Land and improvements | $ | 671 | $ | 582 | |||||
Buildings, structures and related equipment | 4,205 | 4,003 | |||||||
Machinery and equipment | 9,701 | 9,061 | |||||||
Leasehold costs and manufacturing plant under construction | 2,997 | 2,387 | |||||||
17,574 | 16,033 | ||||||||
GECC(b) | |||||||||
Land and improvements, buildings, structures and related equipment | 1,025 | 999 | |||||||
Equipment leased to others | |||||||||
Aircraft(c) | 34,938 | 36,231 | |||||||
Vehicles | 8,312 | 8,634 | |||||||
Railroad rolling stock | 3,129 | 2,744 | |||||||
Construction and manufacturing | 1,955 | 2,069 | |||||||
All other | 2,248 | 2,290 | |||||||
51,607 | 52,967 | ||||||||
Eliminations | -354 | -367 | |||||||
Total | $ | 68,827 | $ | 68,633 | |||||
(a) Depreciable lives exclude land. | |||||||||
(b) Included $1,353 million and $1,466 million of original cost of assets leased to GE with accumulated amortization of $342 million and $451 million at December 31, 2013 and 2012, respectively. | |||||||||
(c) The GECAS business of GE Capital recognized impairment losses of $732 million and $242 million in 2013 and 2012, respectively. These losses are recorded in the caption “Other costs and expenses” in the Statement of Earnings to reflect adjustments to fair value based on an evaluation of average current market values (obtained from third parties) of similar type and age aircraft, which are adjusted for the attributes of the specific aircraft under lease. | |||||||||
Consolidated depreciation and amortization related to property, plant and equipment was $9,762 million, $9,192 million and $8,986 million in 2013, 2012 and 2011, respectively. Amortization of GECC equipment leased to others was $6,696 million, $6,097 million and $6,063 million in 2013, 2012 and 2011, respectively. | |||||||||
Noncancellable future rentals due from customers for equipment on operating leases at December 31, 2013, are as follows: | |||||||||
(In millions) | |||||||||
Due in | |||||||||
2014 | $ | 7,168 | |||||||
2015 | 5,925 | ||||||||
2016 | 4,838 | ||||||||
2017 | 3,823 | ||||||||
2018 | 3,070 | ||||||||
2019 and later | 7,695 | ||||||||
Total | $ | 32,519 |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||||
Goodwill and Other Intangible Assets | ' | |||||||||||||||||||||||
NOTE 8. GOODWILL AND OTHER INTANGIBLE ASSETS | ||||||||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | ||||||||||||||||||||||
Goodwill | $ | 77,648 | $ | 73,114 | ||||||||||||||||||||
Other intangible assets - net | ||||||||||||||||||||||||
Intangible assets subject to amortization | $ | 14,150 | $ | 11,821 | ||||||||||||||||||||
Indefinite-lived intangible assets(a) | 160 | 159 | ||||||||||||||||||||||
Total | $ | 14,310 | $ | 11,980 | ||||||||||||||||||||
Indefinite-lived intangible assets principally comprised in-process research and development, trademarks and tradenames. | ||||||||||||||||||||||||
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. | ||||||||||||||||||||||||
In August 2013, we acquired the aviation business of Avio S.p.A. (Avio) for $4,449 million in cash. We recorded a pre-tax acquisition-related charge of $96 million related to the effective settlement of Avio's pre-existing contractual relationships with GE. Avio is a manufacturer of aviation propulsion components and systems and is included in our Aviation segment. The preliminary purchase price allocation resulted in goodwill of $3,043 million and amortizable intangible assets of $1,830 million. The allocation of the purchase price will be finalized upon completion of post-closing procedures. | ||||||||||||||||||||||||
In July 2013, we acquired Lufkin Industries, Inc. (Lufkin) for $3,309 million in cash. Lufkin is a leading provider of artificial lift technologies for the oil and gas industry and a manufacturer of industrial gears and is included in our Oil & Gas segment. The purchase price allocation resulted in goodwill of $2,027 million and amortizable intangible assets of $997 million. The allocation of the purchase price will be finalized upon completion of post-closing procedures. | ||||||||||||||||||||||||
On March 27, 2012, we contributed a portion of our civil avionics systems business to a newly formed joint venture in exchange for 50% of the new entity. This resulted in the deconsolidation of our civil avionics business and the recording of the interest in the new joint venture at fair value. As a result, we recognized a pre-tax gain of $274 million ($152 million after tax) in the first quarter of 2012. | ||||||||||||||||||||||||
On September 2, 2011, we purchased a 90% interest in Converteam for $3,586 million. In connection with the transaction, we entered into an arrangement to purchase the remaining 10% at the two-year anniversary of the acquisition date for 343 million euros (approximately $465 million). This amount was recorded as a liability at the date of acquisition and was paid out in October 2013. | ||||||||||||||||||||||||
Changes in goodwill balances follow. | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Dispositions, | Dispositions, | |||||||||||||||||||||||
currency | currency | |||||||||||||||||||||||
Balance at | exchange | Balance at | Balance at | exchange | Balance at | |||||||||||||||||||
(In millions) | 1-Jan | Acquisitions | and other | 31-Dec | 1-Jan | Acquisitions | and other | 31-Dec | ||||||||||||||||
Power & Water | $ | 8,821 | $ | - | $ | 1 | $ | 8,822 | $ | 8,769 | $ | - | $ | 52 | $ | 8,821 | ||||||||
Oil & Gas | 8,365 | 2,217 | -66 | 10,516 | 8,233 | 113 | 19 | 8,365 | ||||||||||||||||
Energy Management | 4,610 | 7 | 131 | 4,748 | 4,621 | - | -11 | 4,610 | ||||||||||||||||
Aviation | 5,975 | 3,043 | 85 | 9,103 | 5,996 | 55 | -76 | 5,975 | ||||||||||||||||
Healthcare | 16,762 | 45 | -164 | 16,643 | 16,631 | 221 | -90 | 16,762 | ||||||||||||||||
Transportation | 999 | - | 13 | 1,012 | 551 | 445 | 3 | 999 | ||||||||||||||||
Appliances & Lighting | 611 | - | -5 | 606 | 594 | 11 | 6 | 611 | ||||||||||||||||
GE Capital | 26,971 | 17 | -793 | 26,195 | 26,902 | - | 69 | 26,971 | ||||||||||||||||
Corporate | - | 4 | -1 | 3 | - | - | - | - | ||||||||||||||||
Total | $ | 73,114 | $ | 5,333 | $ | -799 | $ | 77,648 | $ | 72,297 | $ | 845 | $ | -28 | $ | 73,114 | ||||||||
Goodwill balances increased $4,534 million in 2013, primarily as a result of the acquisitions of Avio ($3,043 million) and Lufkin ($2,027 million), partially offset by dispositions. | ||||||||||||||||||||||||
Goodwill balances increased $817 million in 2012, primarily as a result of the weaker U.S. dollar ($356 million) and acquisitions of Industrea Limited ($282 million) and Railcar Management, Inc. ($136 million) at Transportation. | ||||||||||||||||||||||||
We test goodwill for impairment annually in the third quarter of each year using data as of July 1 of that year. 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 is more than 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 values for each of the reporting units using the market approach, when available and appropriate, or the income approach, or a combination of both. We assess the valuation methodology based upon the relevance and availability of the data at the time we perform the valuation. If multiple valuation methodologies are used, the results are weighted appropriately. | ||||||||||||||||||||||||
Valuations using the market approach are derived from metrics of publicly traded companies or historically completed transactions of comparable businesses. The selection of comparable businesses is based on the markets in which the reporting units operate giving consideration to risk profiles, size, geography, and diversity of products and services. A market approach is limited to reporting units for which there are publicly traded companies that have the characteristics similar to our businesses. | ||||||||||||||||||||||||
Under the income approach, fair value is determined based on the present value of estimated future cash flows, discounted at an appropriate risk-adjusted rate. We use our internal forecasts to estimate future cash flows and include an estimate of long-term future growth rates based on our most recent views of the long-term outlook for each business. Actual results may differ from those assumed in our forecasts. We derive our discount rates using a capital asset pricing model and analyzing published rates for industries relevant to our reporting units to estimate the cost of equity financing. We use discount rates that are commensurate with the risks and uncertainty inherent in the respective businesses and in our internally developed forecasts. Discount rates used in our reporting unit valuations ranged from 8.0% to 16.5%. | ||||||||||||||||||||||||
During the third quarter of 2013, we performed our annual impairment test of goodwill for all of our reporting units. Based on the results of our step one testing, the fair values of each of the GE reporting units exceeded their carrying values; therefore, the second step of the impairment test was not required to be performed and no goodwill impairment was recognized. | ||||||||||||||||||||||||
Our Real Estate reporting unit had a goodwill balance of $742 million at December 31, 2013. While the Real Estate reporting unit's book value was within the range of its fair value, we further substantiated our Real Estate goodwill balance by performing the second step analysis in which the implied fair value of goodwill exceeded its carrying value by approximately $3.7 billion. The estimated fair value of the Real Estate reporting unit is based on a number of assumptions about future business performance and investment, including loss estimates for the existing finance receivable and investment portfolio, new debt origination volume and margins, and the recent stabilization of the real estate market allowing for sales of real estate investments at normalized margins. Our assumed discount rate was 11.25% and was derived by applying a capital asset pricing model and corroborated using equity analyst research reports and implied cost of equity based on forecasted price to earnings per share multiples for similar companies. While we have seen stabilization in some markets, given the volatility and uncertainty in the current commercial real estate environment, there is uncertainty about a number of assumptions upon which the estimated fair value is based. Different loss estimates for the existing portfolio, changes in the new debt origination volume and margin assumptions, changes in the expected pace of the commercial real estate market recovery, or changes in the equity return expectation of market participants may result in changes in the estimated fair value of the Real Estate reporting unit. | ||||||||||||||||||||||||
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. | ||||||||||||||||||||||||
Intangible Assets Subject to Amortization | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Gross | Gross | |||||||||||||||||||||||
carrying | Accumulated | carrying | Accumulated | |||||||||||||||||||||
December 31 (In millions) | amount | amortization | Net | amount | amortization | Net | ||||||||||||||||||
Customer-related | $ | 7,938 | $ | -2,312 | $ | 5,626 | $ | 6,977 | $ | -2,156 | $ | 4,821 | ||||||||||||
Patents and technology | 6,602 | -2,621 | 3,981 | 5,432 | -2,406 | 3,026 | ||||||||||||||||||
Capitalized software | 8,256 | -5,252 | 3,004 | 7,514 | -4,673 | 2,841 | ||||||||||||||||||
Trademarks | 1,356 | -295 | 1,061 | 995 | -239 | 756 | ||||||||||||||||||
Lease valuations | 703 | -498 | 205 | 1,163 | -792 | 371 | ||||||||||||||||||
Present value of future profits(a) | 574 | -574 | - | 530 | -530 | - | ||||||||||||||||||
All other | 632 | -359 | 273 | 375 | -369 | 6 | ||||||||||||||||||
Total | $ | 26,061 | $ | -11,911 | $ | 14,150 | $ | 22,986 | $ | -11,165 | $ | 11,821 | ||||||||||||
(a) Balances at December 31, 2013 and 2012 reflect adjustments of $322 million and $353 million, respectively, to the present value of future profits in our run-off insurance operations to reflect the effects that would have been recognized had the related unrealized investment securities holding gains and losses actually been realized. | ||||||||||||||||||||||||
During 2013, we recorded additions to intangible assets subject to amortization of $3,735 million, primarily from the acquisitions of Avio ($1,830 million) and Lufkin ($997 million) as well as the capitalization of new software across several business platforms. The components of finite-lived intangible assets acquired during 2013 and their respective weighted-average amortizable period are: $1,257 million – Customer-related (21.9 years); $1,255 million – Patents and technology (25.5 years); $732 million – Capitalized software (4.6 years); $363 million – Trademarks (28.1 years); $2 million – Lease valuations (5.0 years); and $126 million – All other (22.4 years). | ||||||||||||||||||||||||
Consolidated amortization related to intangible assets was $1,711 million, $1,612 million and $1,744 million for 2013, 2012 and 2011, respectively. We estimate annual pre-tax amortization for intangible assets over the next five calendar years to be as follows: 2014 – $1,588 million; 2015 – $1,473 million; 2016 – $1,336 million; 2017 – $1,185 million; and 2018 – $1,026 million. | ||||||||||||||||||||||||
All_Other_Assets
All Other Assets | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Other Assets [Abstract] | ' | |||||
All Other Assets | ' | |||||
NOTE 9. ALL OTHER ASSETS | ||||||
December 31 (In millions) | 2013 | 2012 | ||||
GE | ||||||
Investments | ||||||
Associated companies(a) | $ | 3,937 | $ | 22,169 | ||
Other | 626 | 445 | ||||
4,563 | 22,614 | |||||
Contract costs and estimated earnings(b) | 12,522 | 11,041 | ||||
Long-term receivables, including notes | 993 | 714 | ||||
Derivative instruments | 623 | 383 | ||||
Other | 5,007 | 4,782 | ||||
23,708 | 39,534 | |||||
GECC | ||||||
Investments | ||||||
Associated companies | 17,348 | 19,119 | ||||
Real estate(c)(d) | 16,163 | 25,154 | ||||
Assets held for sale(e) | 2,571 | 4,194 | ||||
Cost method(d) | 1,462 | 1,665 | ||||
Other | 930 | 1,446 | ||||
38,474 | 51,578 | |||||
Advances to suppliers | 2,328 | 1,805 | ||||
Derivative instruments | 1,117 | 3,557 | ||||
Deferred borrowing costs | 867 | 940 | ||||
Deferred acquisition costs(f) | 29 | 46 | ||||
Other | 4,551 | 4,260 | ||||
47,366 | 62,186 | |||||
Eliminations | -266 | -76 | ||||
Total | $ | 70,808 | $ | 101,644 | ||
(a) Included our investment in NBCU LLC of $18,887 million at December 31, 2012. At December 31, 2012, we also had $4,937 million, of deferred tax liabilities related to this investment. See Note 14. | ||||||
(b) Contract costs and estimated earnings reflect revenues earned in excess of billings on our long-term contracts to construct technically complex equipment (such as power generation, aircraft engines and aeroderivative units) and long-term product maintenance or extended warranty arrangements. These amounts are presented net of related billings in excess of revenues of $1,842 million and $1,498 million at December 31, 2013 and 2012, respectively. | ||||||
(c) GECC investments in real estate consisted principally of two categories: real estate held for investment and equity method investments. Both categories contained a wide range of properties including the following at December 31, 2013: office buildings (52%), apartment buildings (14%), retail facilities (9%), industrial properties (7%), franchise properties (3%) and other (15%). At December 31, 2013, investments were located in the Americas (41%), Europe (35%) and Asia (24%). | ||||||
(d) The fair value of and unrealized loss on cost method investments in a continuous loss position for less than 12 months at December 31, 2013, were $17 million and an insignificant amount, respectively. There were no cost method investments in a continuous loss position for 12 months or more at December 31, 2013. The fair value of and unrealized loss on cost method investments in a continuous loss position for less than 12 months at December 31, 2012, were $142 million and $37 million, respectively. The fair value of and unrealized loss on cost method investments in a continuous loss position for 12 months or more at December 31, 2012, were $2 million and an insignificant amount, respectively. | ||||||
(e) Assets were classified as held for sale on the date a decision was made to dispose of them through sale or other means. At December 31, 2013 and 2012, such assets consisted primarily of loans, aircraft, equipment and real estate properties, and were accounted for at the lower of carrying amount or estimated fair value less costs to sell. These amounts are net of valuation allowances of $127 million and $200 million at December 31, 2013 and 2012, respectively. | ||||||
(f) Balances at December 31, 2013 and 2012 reflect adjustments of $700 million and $764 million, respectively, to deferred acquisition costs in our run-off insurance operations 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
Borrowings and Bank Deposits | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||
GECC Borrowings and Bank Deposits | ' | ||||||||||||||
NOTE 10. BORROWINGS AND BANK DEPOSITS | |||||||||||||||
Short-term Borrowings | 2013 | 2012 | |||||||||||||
Average | Average | ||||||||||||||
December 31 (Dollars in millions) | Amount | rate(a) | Amount | rate(a) | |||||||||||
GE | |||||||||||||||
Commercial paper | $ | - | - | % | $ | 352 | 0.28 | % | |||||||
Payable to banks | 346 | 3.38 | 23 | 3.02 | |||||||||||
Current portion of long-term | |||||||||||||||
borrowings | 70 | 5.65 | 5,068 | 5.11 | |||||||||||
Other | 1,425 | 598 | |||||||||||||
Total GE short-term borrowings | 1,841 | 6,041 | |||||||||||||
GECC | |||||||||||||||
Commercial paper | |||||||||||||||
U.S. | 24,877 | 0.18 | 33,686 | 0.22 | |||||||||||
Non-U.S. | 4,168 | 0.33 | 9,370 | 0.92 | |||||||||||
Current portion of long-term | |||||||||||||||
borrowings(b)(c)(d) | 39,215 | 2.7 | 44,264 | 2.85 | |||||||||||
GE Interest Plus notes(e) | 8,699 | 1.11 | 8,189 | 1.2 | |||||||||||
Other(c) | 339 | 431 | |||||||||||||
Total GECC short-term borrowings | 77,298 | 95,940 | |||||||||||||
Eliminations | -1,249 | -589 | |||||||||||||
Total short-term borrowings | $ | 77,890 | $ | 101,392 | |||||||||||
Long-term Borrowings | 2013 | 2012 | |||||||||||||
Average | Average | ||||||||||||||
December 31 (Dollars in millions) | Maturities | Amount | rate(a) | Amount | rate (a) | ||||||||||
GE | |||||||||||||||
Senior notes | 2015-2042 | $ | 10,968 | 3.63 | % | $ | 10,963 | 3.63 | % | ||||||
Payable to banks | 2015-2023 | 10 | 1.1 | 13 | 1.79 | ||||||||||
Other | 537 | 452 | |||||||||||||
Total GE long-term borrowings | 11,515 | 11,428 | |||||||||||||
GECC | |||||||||||||||
Senior unsecured notes(b) | 2015-2054 | 186,433 | 2.97 | 199,646 | 2.95 | ||||||||||
Subordinated notes(d) | 2021-2037 | 4,821 | 3.93 | 4,965 | 2.92 | ||||||||||
Subordinated debentures(f) | 2066-2067 | 7,462 | 5.64 | 7,286 | 5.78 | ||||||||||
Other(c) | 11,563 | 12,879 | |||||||||||||
Total GECC long-term borrowings | 210,279 | 224,776 | |||||||||||||
Eliminations | -129 | -120 | |||||||||||||
Total long-term borrowings | $ | 221,665 | $ | 236,084 | |||||||||||
Non-recourse borrowings of | |||||||||||||||
consolidated securitization | |||||||||||||||
entities(g) | 2014-2019 | $ | 30,124 | 1.05 | % | $ | 30,123 | 1.12 | % | ||||||
Bank deposits(h) | $ | 53,361 | $ | 46,200 | |||||||||||
Total borrowings and bank | |||||||||||||||
deposits | $ | 383,040 | $ | 413,799 | |||||||||||
(a) Based on year-end balances and year-end local currency effective interest rates, including the effects from hedging. | |||||||||||||||
(b) Included in total long-term borrowings were $481 million and $604 million of obligations to holders of GICs at December 31, 2013 and 2012, 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. Following the April 3, 2012 Moody's downgrade of GECC's long-term credit rating to A1, substantially all of these GICs became redeemable by their holders. In 2012, holders of $386 million in principal amount of GICs redeemed their holdings and GECC made related cash payments. 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. | |||||||||||||||
(c) Included $9,468 million and $9,757 million of funding secured by real estate, aircraft and other collateral at December 31, 2013 and 2012, respectively, of which $2,868 million and $3,294 million is non-recourse to GECC at December 31, 2013 and 2012, respectively. | |||||||||||||||
(d) Included $300 million of subordinated notes guaranteed by GE at both December 31, 2013 and 2012. | |||||||||||||||
(e) Entirely variable denomination floating-rate demand notes. | |||||||||||||||
(f) Subordinated debentures receive rating agency equity credit and were hedged at issuance to the U.S. dollar equivalent of $7,725 million. | |||||||||||||||
(g) Included at December 31, 2013 and 2012 were $9,047 million and $7,707 million of current portion of long-term borrowings, respectively, and $21,077 million and $22,416 million of long-term borrowings, respectively. See Note 23. | |||||||||||||||
(h) Included $13,614 million and $15,896 million of deposits in non-U.S. banks at December 31, 2013 and 2012, respectively, and $18,275 million and $17,291 million of certificates of deposits with maturities greater than one year at December 31, 2013 and 2012, respectively. | |||||||||||||||
On October 9, 2012, GE issued $7,000 million of notes comprising $2,000 million of 0.850% notes due 2015, $3,000 million of 2.700% notes due 2022 and $2,000 million of 4.125% notes due 2042. On February 1, 2013, we repaid $5,000 million of 5.0% GE senior unsecured notes. | |||||||||||||||
Additional information about borrowings and associated swaps can be found in Note 22. | |||||||||||||||
Liquidity is affected by debt maturities and our ability to repay or refinance such debt. Long-term debt maturities over the next five years follow. | |||||||||||||||
(In millions) | 2014 | 2015 | 2016 | 2017 | 2018 | ||||||||||
GE | $ | 70 | $ | 2,189 | $ | 138 | $ | 4,023 | $ | 22 | |||||
GECC | 39,215 | (a) | 39,672 | 31,987 | 25,866 | 18,183 | |||||||||
(a) Fixed and floating rate notes of $443 million contain put options with exercise dates in 2014, and which have final maturity beyond 2018. | |||||||||||||||
Committed credit lines totaling $47.8 billion had been extended to us by 50 banks at year-end 2013. GECC can borrow up to $47.8 billion under all of these credit lines. GE can borrow up to $13.9 billion under certain of these credit lines. The GECC lines include $26.5 billion of revolving credit agreements under which we can borrow funds for periods exceeding one year. Additionally, $21.3 billion are 364-day lines that contain a term-out feature that allows GE or GECC to extend the borrowings for two years from the date on which such borrowings would otherwise be due. | |||||||||||||||
Investment_Contracts_Insurance
Investment Contracts, Insurance Liabilities and Insurance Annuity Benefits | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Investment Contracts Insurance Liabilities And Insurance Annuity Benefits [Abstract] | ' | |||||
Investment Contracts, Insurance Liabilities and Insurance Annuity Benefits | ' | |||||
NOTE 11. INVESTMENT CONTRACTS, INSURANCE LIABILITIES AND INSURANCE ANNUITY BENEFITS | ||||||
Investment contracts, insurance liabilities and insurance annuity benefits comprise mainly obligations to annuitants and policyholders in our run-off insurance operations and holders of guaranteed investment contracts. | ||||||
December 31 (In millions) | 2013 | 2012 | ||||
Investment contracts | $ | 3,144 | $ | 3,321 | ||
Guaranteed investment contracts | 1,471 | 1,644 | ||||
Total investment contracts | 4,615 | 4,965 | ||||
Life insurance benefits(a) | 18,959 | 20,427 | ||||
Other(b) | 3,405 | 3,304 | ||||
26,979 | 28,696 | |||||
Eliminations | -435 | -428 | ||||
Total | $ | 26,544 | $ | 28,268 | ||
Life insurance benefits are accounted for mainly by a net-level-premium method using estimated yields generally ranging from 3.0% to 8.5% in both 2013 and 2012. | ||||||
Substantially all unpaid claims and claims adjustment expenses and unearned premiums. | ||||||
When insurance affiliates cede insurance risk to third parties, such as reinsurers, they are not relieved of their primary obligation to policyholders. When losses on ceded risks give rise to claims for recovery, we establish allowances for probable losses on such receivables from reinsurers as required. Reinsurance recoverables are included in the caption “Other GECC receivables" on our Statement of Financial Position, and amounted to $1,685 million and $1,542 million at December 31, 2013 and 2012, respectively. | ||||||
We recognize reinsurance recoveries as a reduction of the Statement of Earnings caption “Investment contracts, insurance losses and insurance annuity benefits.” Reinsurance recoveries were $250 million, $234 million and $224 million for the years ended December 31, 2013, 2012 and 2011, respectively. |
Postretirement_Benefit_Plans
Postretirement Benefit Plans | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | ' | ||||||||||||||||||||||||||
Postretirement Benefit Plans | ' | ||||||||||||||||||||||||||
NOTE 12. POSTRETIREMENT BENEFIT PLANS | |||||||||||||||||||||||||||
Pension Benefits | |||||||||||||||||||||||||||
We sponsor a number of pension plans. Principal pension plans, together with affiliate and certain other pension plans (other pension plans) detailed in this note, represent about 99% of our total pension assets. We use a December 31 measurement date for our plans. | |||||||||||||||||||||||||||
Principal Pension Plans are the GE Pension Plan and the GE Supplementary Pension Plan. | |||||||||||||||||||||||||||
The GE Pension Plan provides benefits to certain U.S. employees based on the greater of a formula recognizing career earnings or a formula recognizing length of service and final average earnings. Certain benefit provisions are subject to collective bargaining. Salaried employees who commence service on or after January 1, 2011 and any employee who commences service on or after January 1, 2012 will not be eligible to participate in the GE Pension Plan, but will participate in a defined contribution retirement program. | |||||||||||||||||||||||||||
The GE Supplementary Pension Plan is an unfunded plan providing supplementary retirement benefits primarily to higher-level, longer-service U.S. employees. | |||||||||||||||||||||||||||
Other Pension Plans in 2013 included 40 U.S. and non-U.S. pension plans with pension assets or obligations greater than $50 million. These defined benefit plans generally provide benefits to employees based on formulas recognizing length of service and earnings. | |||||||||||||||||||||||||||
Pension Plan Participants | |||||||||||||||||||||||||||
Principal | Other | ||||||||||||||||||||||||||
pension | pension | ||||||||||||||||||||||||||
31-Dec-13 | Total | plans | plans | ||||||||||||||||||||||||
Active employees | 128,000 | 94,000 | 34,000 | ||||||||||||||||||||||||
Vested former employees | 229,000 | 184,000 | 45,000 | ||||||||||||||||||||||||
Retirees and beneficiaries | 263,000 | 230,000 | 33,000 | ||||||||||||||||||||||||
Total | 620,000 | 508,000 | 112,000 | ||||||||||||||||||||||||
Cost of Pension Plans | |||||||||||||||||||||||||||
Total | Principal pension plans | Other pension plans | |||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||
Service cost for benefits earned | $ | 1,970 | $ | 1,779 | $ | 1,498 | $ | 1,535 | $ | 1,387 | $ | 1,195 | $ | 435 | $ | 392 | $ | 303 | |||||||||
Prior service cost amortization | 253 | 287 | 207 | 246 | 279 | 194 | 7 | 8 | 13 | ||||||||||||||||||
Expected return on plan assets | -4,163 | -4,394 | -4,543 | -3,500 | -3,768 | -3,940 | -663 | -626 | -603 | ||||||||||||||||||
Interest cost on benefit obligations | 2,983 | 2,993 | 3,176 | 2,460 | 2,479 | 2,662 | 523 | 514 | 514 | ||||||||||||||||||
Net actuarial loss amortization | 4,007 | 3,701 | 2,486 | 3,664 | 3,421 | 2,335 | 343 | 280 | 151 | ||||||||||||||||||
Pension plans cost | $ | 5,050 | $ | 4,366 | $ | 2,824 | $ | 4,405 | $ | 3,798 | $ | 2,446 | $ | 645 | $ | 568 | $ | 378 | |||||||||
Actuarial assumptions are described below. The actuarial assumptions at December 31 are used to measure the year-end benefit obligations and the pension costs for the subsequent year. | |||||||||||||||||||||||||||
Principal pension plans | Other pension plans (weighted average) | ||||||||||||||||||||||||||
31-Dec | 2013 | 2012 | 2011 | 2010 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||
Discount rate | 4.85 | % | 3.96 | % | 4.21 | % | 5.28 | % | 4.39 | % | 3.92 | % | 4.42 | % | 5.11 | % | |||||||||||
Compensation increases | 4 | 3.9 | 3.75 | 4.25 | 3.76 | 3.3 | 4.31 | 4.44 | |||||||||||||||||||
Expected return on assets | 7.5 | 8 | 8 | 8 | 6.92 | 6.82 | 7.09 | 7.25 | |||||||||||||||||||
To determine the expected long-term rate of return on pension plan assets, we consider current and target asset allocations, as well as historical and expected returns on various categories of plan assets. In developing future return expectations for our principal pension plans' assets, we formulate views on the future economic environment, both in the U.S. and abroad. We evaluate general market trends and historical relationships among a number of key variables that impact asset class returns such as expected earnings growth, inflation, valuations, yields and spreads, using both internal and external sources. We also take into account expected volatility by asset class and diversification across classes to determine expected overall portfolio results given current and target allocations. Based on our analysis of future expectations of asset performance, past return results, and our current and target asset allocations, we have assumed a 7.5% long-term expected return on those assets for cost recognition in 2014. This is a reduction from the 8.0% we had assumed in 2013, 2012 and 2011. For the principal pension plans, we apply our expected rate of return to a market-related value of assets, which stabilizes variability in the amounts to which we apply that expected return. | |||||||||||||||||||||||||||
We amortize experience gains and losses, as well as the effects of changes in actuarial assumptions and plan provisions, over a period no longer than the average future service of employees. | |||||||||||||||||||||||||||
Funding policy for the GE Pension Plan is to contribute amounts sufficient to meet minimum funding requirements as set forth in employee benefit and tax laws plus such additional amounts as we may determine to be appropriate. We contributed $433 million to the GE Pension Plan in 2012. The ERISA minimum funding requirements did not require a contribution in 2013. As such, we did not contribute to the GE Pension Plan in 2013. We expect to contribute $528 million to the GE Pension Plan in 2014. In addition, we expect to pay approximately $244 million for benefit payments under our GE Supplementary Pension Plan and administrative expenses of our principal pension plans and expect to contribute approximately $800 million to other pension plans in 2014. In 2013, comparative amounts were $225 million and $673 million, respectively. | |||||||||||||||||||||||||||
Benefit obligations are described in the following tables. Accumulated and projected benefit obligations (ABO and PBO) represent the obligations of a pension plan for past service as of the measurement date. ABO is the present value of benefits earned to date with benefits computed based on current compensation levels. PBO is ABO increased to reflect expected future compensation. | |||||||||||||||||||||||||||
Projected Benefit Obligation | |||||||||||||||||||||||||||
Principal pension plans | Other pension plans | ||||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||
Balance at January 1 | $ | 63,502 | $ | 60,510 | $ | 13,584 | $ | 11,637 | |||||||||||||||||||
Service cost for benefits earned | 1,535 | 1,387 | 435 | 392 | |||||||||||||||||||||||
Interest cost on benefit obligations | 2,460 | 2,479 | 523 | 514 | |||||||||||||||||||||||
Participant contributions | 156 | 157 | 14 | 16 | |||||||||||||||||||||||
Plan amendments | - | - | 11 | -6 | |||||||||||||||||||||||
Actuarial loss (gain) (a) | -6,406 | 2,021 | -575 | 890 | |||||||||||||||||||||||
Benefits paid | -3,134 | -3,052 | -477 | -425 | |||||||||||||||||||||||
Acquisitions (dispositions) / other - net | - | - | 46 | 230 | |||||||||||||||||||||||
Exchange rate adjustments | - | - | -26 | 336 | |||||||||||||||||||||||
Balance at December 31(b) | $ | 58,113 | $ | 63,502 | $ | 13,535 | $ | 13,584 | |||||||||||||||||||
(a) Principally associated with discount rate changes. | |||||||||||||||||||||||||||
(b) The PBO for the GE Supplementary Pension Plan, which is an unfunded plan, was $5,162 million and $5,494 million at year-end 2013 and 2012, respectively. | |||||||||||||||||||||||||||
Accumulated Benefit Obligation | |||||||||||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | |||||||||||||||||||||||||
GE Pension Plan | $ | 50,967 | $ | 55,664 | |||||||||||||||||||||||
GE Supplementary Pension Plan | 3,946 | 4,114 | |||||||||||||||||||||||||
Other pension plans | 12,629 | 12,687 | |||||||||||||||||||||||||
Plans With Assets Less Than ABO | |||||||||||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | |||||||||||||||||||||||||
Funded plans with assets less than ABO | |||||||||||||||||||||||||||
Plan assets | $ | 57,430 | $ | 53,276 | |||||||||||||||||||||||
Accumulated benefit obligations | 60,715 | 66,069 | |||||||||||||||||||||||||
Projected benefit obligations | 63,532 | 69,234 | |||||||||||||||||||||||||
Unfunded plans(a) | |||||||||||||||||||||||||||
Accumulated benefit obligations | 5,243 | 5,390 | |||||||||||||||||||||||||
Projected benefit obligations | 6,512 | 6,828 | |||||||||||||||||||||||||
(a) Primarily related to the GE Supplementary Pension Plan. | |||||||||||||||||||||||||||
Plan Assets | |||||||||||||||||||||||||||
The fair value of the classes of the pension plans' investments is presented below. The inputs and valuation techniques used to measure the fair value of the assets are consistently applied and described in Note 1. | |||||||||||||||||||||||||||
Fair Value of Plan Assets | |||||||||||||||||||||||||||
Principal pension plans | Other pension plans | ||||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||
Balance at January 1 | $ | 44,738 | $ | 42,137 | $ | 9,702 | $ | 8,381 | |||||||||||||||||||
Actual gain on plan assets | 6,312 | 4,854 | 1,212 | 720 | |||||||||||||||||||||||
Employer contributions | 225 | 642 | 673 | 737 | |||||||||||||||||||||||
Participant contributions | 156 | 157 | 14 | 16 | |||||||||||||||||||||||
Benefits paid | -3,134 | -3,052 | -477 | -425 | |||||||||||||||||||||||
Acquisitions (dispositions) / other - net | - | - | -31 | - | |||||||||||||||||||||||
Exchange rate adjustments | - | - | -34 | 273 | |||||||||||||||||||||||
Balance at December 31 | $ | 48,297 | $ | 44,738 | $ | 11,059 | $ | 9,702 | |||||||||||||||||||
Asset Allocation | |||||||||||||||||||||||||||
Other pension plans | |||||||||||||||||||||||||||
Principal pension plans | (weighted average) | ||||||||||||||||||||||||||
2013 | 2013 | 2013 | 2013 | ||||||||||||||||||||||||
Target | Actual | Target | Actual | ||||||||||||||||||||||||
allocation | allocation | allocation | allocation | ||||||||||||||||||||||||
Equity securities | 17 - 57 | % (a) | 45 | % (b) | 55 | % | 55 | % | |||||||||||||||||||
Debt securities (including cash equivalents) | 13 - 53 | 31 | 32 | 34 | |||||||||||||||||||||||
Private equities | 18-Aug | 13 | 2 | 1 | |||||||||||||||||||||||
Real estate | 12-Feb | 7 | 6 | 5 | |||||||||||||||||||||||
Other | 13-Mar | 4 | 5 | 5 | |||||||||||||||||||||||
(a) Target equally divided between U.S. equity securities and non-U.S. equity securities. | |||||||||||||||||||||||||||
(b) Actual allocations were 26% for U.S. equity securities and 19% for non-U.S. equity securities. | |||||||||||||||||||||||||||
Plan fiduciaries of the GE Pension Plan set investment policies and strategies for the GE Pension Trust and oversee its investment allocation, which includes selecting investment managers, commissioning periodic asset-liability studies and setting long-term strategic targets. Long-term strategic investment objectives take into consideration a number of factors, including the funded status of the plan, a balance between risk and return and the plan's liquidity needs. Target allocation percentages are established at an asset class level by plan fiduciaries. Target allocation ranges are guidelines, not limitations, and occasionally plan fiduciaries will approve allocations above or below a target range. | |||||||||||||||||||||||||||
Plan fiduciaries monitor the GE Pension Plan's liquidity position in order to meet the near-term benefit payment and other cash needs. The GE Pension Plan holds short-term debt securities to meet its liquidity needs. | |||||||||||||||||||||||||||
GE Pension Trust assets are invested subject to the following additional guidelines: | |||||||||||||||||||||||||||
Short-term securities must generally be rated A-1/P-1 or better, except for 15% of such securities that may be rated A-2/P-2 and other short-term securities as may be approved by the plan fiduciaries. | |||||||||||||||||||||||||||
Real estate investments may not exceed 25% of total assets. | |||||||||||||||||||||||||||
Investments in restricted securities (excluding real estate investments) that are not freely tradable may not exceed 30% of total assets (actual was 17% of trust assets at December 31, 2013). | |||||||||||||||||||||||||||
According to statute, the aggregate holdings of all qualifying employer securities (e.g., GE common stock) and qualifying employer real property may not exceed 10% of the fair value of trust assets at the time of purchase. GE securities represented 4.5% and 4.2% of trust assets at year-end 2013 and 2012, respectively. | |||||||||||||||||||||||||||
The GE Pension Plan has a broadly diversified portfolio of investments in equities, fixed income, private equities, real estate and hedge funds; these investments are both U.S. and non-U.S. in nature. As of December 31, 2013, U.S. government direct and indirect obligations represented 16% of total GE Pension Plan assets. No other sector concentration of assets exceeded 15% of total GE Pension Plan assets. | |||||||||||||||||||||||||||
The following tables present GE Pension Plan investments measured at fair value. | |||||||||||||||||||||||||||
(In millions) | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||
Equity securities | |||||||||||||||||||||||||||
U.S. equity securities(a) | $ | 11,067 | $ | 1,568 | $ | - | $ | 12,635 | |||||||||||||||||||
Non-U.S. equity securities(a) | 7,832 | 1,292 | - | 9,124 | |||||||||||||||||||||||
Debt securities | |||||||||||||||||||||||||||
Fixed income and cash investment funds | - | 2,078 | - | 2,078 | |||||||||||||||||||||||
U.S. corporate(b) | - | 4,555 | - | 4,555 | |||||||||||||||||||||||
Residential mortgage-backed | - | 1,093 | - | 1,093 | |||||||||||||||||||||||
U.S. government and federal agency(c) | - | 5,253 | - | 5,253 | |||||||||||||||||||||||
Other debt securities(d) | - | 2,317 | - | 2,317 | |||||||||||||||||||||||
Private equities(a) | - | - | 6,269 | 6,269 | |||||||||||||||||||||||
Real estate(a) | - | - | 3,354 | 3,354 | |||||||||||||||||||||||
Other investments(e) | - | 169 | 1,622 | 1,791 | |||||||||||||||||||||||
Total investments | $ | 18,899 | $ | 18,325 | $ | 11,245 | 48,469 | ||||||||||||||||||||
Other(f) | -172 | ||||||||||||||||||||||||||
Total assets | $ | 48,297 | |||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||
Equity securities | |||||||||||||||||||||||||||
U.S. equity securities(a) | $ | 8,876 | $ | 2,462 | $ | - | $ | 11,338 | |||||||||||||||||||
Non-U.S. equity securities(a) | 6,699 | 1,644 | - | 8,343 | |||||||||||||||||||||||
Debt securities | |||||||||||||||||||||||||||
Fixed income and cash investment funds | - | 1,931 | 50 | 1,981 | |||||||||||||||||||||||
U.S. corporate(b) | - | 2,758 | - | 2,758 | |||||||||||||||||||||||
Residential mortgage-backed | - | 1,420 | 3 | 1,423 | |||||||||||||||||||||||
U.S. government and federal agency(c) | - | 5,489 | - | 5,489 | |||||||||||||||||||||||
Other debt securities(d) | - | 2,053 | 22 | 2,075 | |||||||||||||||||||||||
Private equities(a) | - | - | 6,878 | 6,878 | |||||||||||||||||||||||
Real estate(a) | - | - | 3,356 | 3,356 | |||||||||||||||||||||||
Other investments(e) | - | 44 | 1,694 | 1,738 | |||||||||||||||||||||||
Total investments | $ | 15,575 | $ | 17,801 | $ | 12,003 | 45,379 | ||||||||||||||||||||
Other(f) | -641 | ||||||||||||||||||||||||||
Total assets | $ | 44,738 | |||||||||||||||||||||||||
(a) Included direct investments and investment funds. | |||||||||||||||||||||||||||
(b) Primarily represented investment-grade bonds of U.S. issuers from diverse industries. | |||||||||||||||||||||||||||
(c) Included short-term investments to meet liquidity needs. | |||||||||||||||||||||||||||
(d) Primarily represented investments in non-U.S. corporate bonds, non-U.S. government bonds and commercial mortgage-backed securities. | |||||||||||||||||||||||||||
(e) Substantially all represented hedge fund investments. | |||||||||||||||||||||||||||
(f) Primarily represented net unsettled transactions related to purchases and sales of investments and accrued income receivables. | |||||||||||||||||||||||||||
The following tables present the changes in Level 3 investments for the GE Pension Plan. | |||||||||||||||||||||||||||
Changes in Level 3 Investments for the Year Ended December 31, 2013 | |||||||||||||||||||||||||||
Purchases, | Transfers | ||||||||||||||||||||||||||
issuances | in and/or | ||||||||||||||||||||||||||
January 1, | Net realized | Net unrealized | and | out of | December 31, | ||||||||||||||||||||||
(In millions) | 2013 | gains (losses) | gains (losses) | settlements | Level 3 | (a) | 2013 | ||||||||||||||||||||
Debt securities | |||||||||||||||||||||||||||
Fixed income and cash | |||||||||||||||||||||||||||
investment funds | $ | 50 | $ | -7 | $ | - | $ | -43 | $ | - | $ | - | |||||||||||||||
Residential mortgage-backed | 3 | - | - | - | -3 | - | |||||||||||||||||||||
Other debt securities | 22 | - | - | -22 | - | - | |||||||||||||||||||||
Private equities | 6,878 | 525 | 588 | -1,675 | -47 | 6,269 | |||||||||||||||||||||
Real estate | 3,356 | 23 | 330 | -355 | - | 3,354 | |||||||||||||||||||||
Other investments | 1,694 | -1 | 200 | -77 | -194 | 1,622 | |||||||||||||||||||||
$ | 12,003 | $ | 540 | $ | 1,118 | $ | -2,172 | $ | -244 | $ | 11,245 | ||||||||||||||||
(a) Transfers in and out of Level 3 are considered to occur at the beginning of the period. | |||||||||||||||||||||||||||
Changes in Level 3 Investments for the Year Ended December 31, 2012 | |||||||||||||||||||||||||||
Purchases, | Transfers | ||||||||||||||||||||||||||
issuances | in and/or | ||||||||||||||||||||||||||
January 1, | Net realized | Net unrealized | and | out of | December 31, | ||||||||||||||||||||||
(In millions) | 2012 | gains (losses) | gains (losses) | settlements | Level 3 | (a) | 2012 | ||||||||||||||||||||
Debt securities | |||||||||||||||||||||||||||
Fixed income and cash | |||||||||||||||||||||||||||
investment funds | $ | 62 | $ | - | $ | 9 | $ | -21 | $ | - | $ | 50 | |||||||||||||||
U.S. corporate | 3 | -1 | - | -2 | - | - | |||||||||||||||||||||
Residential mortgage-backed | 5 | -2 | - | - | - | 3 | |||||||||||||||||||||
Other debt securities | 146 | -2 | - | -122 | - | 22 | |||||||||||||||||||||
Private equities | 6,786 | 133 | 438 | -479 | - | 6,878 | |||||||||||||||||||||
Real estate | 3,274 | 20 | 279 | -217 | - | 3,356 | |||||||||||||||||||||
Other investments | 1,709 | 32 | 72 | -71 | -48 | 1,694 | |||||||||||||||||||||
$ | 11,985 | $ | 180 | $ | 798 | $ | -912 | $ | -48 | $ | 12,003 | ||||||||||||||||
(a) Transfers in and out of Level 3 are considered to occur at the beginning of the period. | |||||||||||||||||||||||||||
Other pension plans' assets were $11,059 million and $9,702 million at December 31, 2013 and 2012, respectively. Equity and debt securities amounting to $9,781 million and $8,497 million represented approximately 89% of total investments at both December 31, 2013 and 2012. The plans' investments were classified as 11% Level 1, 78% Level 2 and 11% Level 3 at December 31, 2013. The plans' investments were classified as 14% Level 1, 75% Level 2 and 11% Level 3 at December 31, 2012. The changes in Level 3 investments were insignificant for the years ended December 31, 2013 and 2012. | |||||||||||||||||||||||||||
Pension Asset (Liability) | |||||||||||||||||||||||||||
Principal pension plans | Other pension plans | ||||||||||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||
Funded status(a)(b) | $ | -9,816 | $ | -18,764 | $ | -2,476 | $ | -3,882 | |||||||||||||||||||
Pension asset (liability) recorded in the | |||||||||||||||||||||||||||
Statement of Financial Position | |||||||||||||||||||||||||||
Pension asset | $ | - | $ | - | $ | 325 | $ | 141 | |||||||||||||||||||
Pension liabilities | |||||||||||||||||||||||||||
Due within one year(c) | -170 | -159 | -67 | -62 | |||||||||||||||||||||||
Due after one year | -9,646 | -18,605 | -2,734 | -3,961 | |||||||||||||||||||||||
Net amount recognized | $ | -9,816 | $ | -18,764 | $ | -2,476 | $ | -3,882 | |||||||||||||||||||
Amounts recorded in shareowners’ | |||||||||||||||||||||||||||
equity (unamortized) | |||||||||||||||||||||||||||
Prior service cost (credit) | $ | 1,160 | $ | 1,406 | $ | 9 | $ | -4 | |||||||||||||||||||
Net actuarial loss | 11,555 | 24,437 | 2,459 | 3,962 | |||||||||||||||||||||||
Total | $ | 12,715 | $ | 25,843 | $ | 2,468 | $ | 3,958 | |||||||||||||||||||
(a) Fair value of assets less PBO, as shown in the preceding tables. | |||||||||||||||||||||||||||
(b) The GE Pension Plan was underfunded by $4.7 billion and $13.3 billion at December 31, 2013 and December 31, 2012, respectively. | |||||||||||||||||||||||||||
(c) For principal pension plans, represents the GE Supplementary Pension Plan liability. | |||||||||||||||||||||||||||
In 2014, we estimate that we will amortize $215 million of prior service cost and $2,565 million of net actuarial loss for the principal pension plans from shareowners' equity into pension cost. For other pension plans, the estimated prior service cost and net actuarial loss to be amortized in 2014 will be $5 million and $215 million, respectively. Comparable amortized amounts in 2013, respectively, were $246 million and $3,664 million for the principal pension plans and $7 million and $343 million for other pension plans. | |||||||||||||||||||||||||||
Estimated Future Benefit Payments | |||||||||||||||||||||||||||
2019 | - | ||||||||||||||||||||||||||
(In millions) | 2014 | 2015 | 2016 | 2017 | 2018 | 2023 | |||||||||||||||||||||
Principal pension | $ | 3,105 | $ | 3,175 | $ | 3,240 | $ | 3,310 | $ | 3,380 | $ | 18,370 | |||||||||||||||
plans | |||||||||||||||||||||||||||
Other pension | |||||||||||||||||||||||||||
plans | $ | 495 | $ | 505 | $ | 510 | $ | 525 | $ | 540 | $ | 2,935 | |||||||||||||||
Retiree Health and Life Benefits | |||||||||||||||||||||||||||
We sponsor a number of retiree health and life insurance benefit plans (retiree benefit plans). Principal retiree benefit plans are discussed below; other such plans are not significant individually or in the aggregate. We use a December 31 measurement date for our plans. | |||||||||||||||||||||||||||
Principal Retiree Benefit Plans provide health and life insurance benefits to certain eligible participants and these participants share in the cost of healthcare benefits. In 2012, we amended our principal retiree benefit plans such that, effective January 1, 2015, our post-65 retiree medical plans will be closed to salaried and retired salaried employees who are not enrolled in the plans as of that date, and we will no longer offer company-provided life insurance in retirement for certain salaried employees who retire after that date. These plans cover approximately 198,000 retirees and dependents. | |||||||||||||||||||||||||||
Cost of Principal Retiree Benefit Plans | |||||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||||||||||||||||||
Service cost for benefits earned | $ | 229 | $ | 219 | $ | 216 | |||||||||||||||||||||
Prior service cost amortization | 393 | 518 | 647 | ||||||||||||||||||||||||
Expected return on plan assets | -60 | -73 | -97 | ||||||||||||||||||||||||
Interest cost on benefit obligations | 410 | 491 | 604 | ||||||||||||||||||||||||
Net actuarial loss (gain) amortization | -45 | 32 | -110 | ||||||||||||||||||||||||
Net curtailment/settlement gain | - | -101 | - | ||||||||||||||||||||||||
Retiree benefit plans cost | $ | 927 | $ | 1,086 | $ | 1,260 | |||||||||||||||||||||
Actuarial assumptions are described below. The actuarial assumptions at December 31 are used to measure the year-end benefit obligations and the retiree benefit plan costs for the subsequent year. | |||||||||||||||||||||||||||
31-Dec | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||
Discount rate | 4.61 | % | 3.74 | %(a) | 4.09 | %(a) | 5.15 | % | |||||||||||||||||||
Compensation increases | 4 | 3.9 | 3.75 | 4.25 | |||||||||||||||||||||||
Expected return on assets | 7 | 7 | 7 | 8 | |||||||||||||||||||||||
Initial healthcare trend rate(b) | 6 | 6.5 | 7 | 7 | |||||||||||||||||||||||
Weighted average discount rates of 3.77% and 3.94% were used for determination of costs in 2013 and 2012, respectively. | |||||||||||||||||||||||||||
For 2013, ultimately declining to 5% for 2030 and thereafter. | |||||||||||||||||||||||||||
To determine the expected long-term rate of return on retiree life plan assets, we consider current and target asset allocations, historical and expected returns on various categories of plan assets, as well as expected benefit payments and resulting asset levels. In developing future return expectations for retiree benefit plan assets, we formulate views on the future economic environment, both in the U.S. and abroad. We evaluate general market trends and historical relationships among a number of key variables that impact asset class returns such as expected earnings growth, inflation, valuations, yields and spreads, using both internal and external sources. We also take into account expected volatility by asset class and diversification across classes to determine expected overall portfolio results given current and target allocations. Based on our analysis of future expectations of asset performance, past return results, our current and target asset allocations as well as a shorter time horizon for retiree life plan assets, we have assumed a 7.0% long-term expected return on those assets for cost recognition in 2014. We apply our expected rate of return to a market-related value of assets, which stabilizes variability in the amounts to which we apply that expected return. | |||||||||||||||||||||||||||
We amortize experience gains and losses, as well as the effects of changes in actuarial assumptions and plan provisions, over a period no longer than the average future service of employees. | |||||||||||||||||||||||||||
Funding Policy. We fund retiree health benefits on a pay-as-you-go basis. We expect to contribute approximately $545 million in 2014 to fund such benefits. We fund the retiree life insurance trust at our discretion. | |||||||||||||||||||||||||||
Changes in the accumulated postretirement benefit obligation for retiree benefit plans follow. | |||||||||||||||||||||||||||
Accumulated Postretirement Benefit Obligation (APBO) | |||||||||||||||||||||||||||
(In millions) | 2013 | 2012 | |||||||||||||||||||||||||
Balance at January 1 | $ | 11,804 | $ | 13,056 | |||||||||||||||||||||||
Service cost for benefits earned | 229 | 219 | |||||||||||||||||||||||||
Interest cost on benefit obligations | 410 | 491 | |||||||||||||||||||||||||
Participant contributions | 52 | 54 | |||||||||||||||||||||||||
Plan amendments | - | -832 | |||||||||||||||||||||||||
Actuarial gain | -1,836 | (a) | -60 | ||||||||||||||||||||||||
Benefits paid | -746 | -758 | |||||||||||||||||||||||||
Net curtailment/settlement | - | -366 | |||||||||||||||||||||||||
Balance at December 31(b) | $ | 9,913 | $ | 11,804 | |||||||||||||||||||||||
(a) Primarily associated with discount rate change and lower costs from new healthcare supplier contracts. | |||||||||||||||||||||||||||
(b) The APBO for the retiree health plans was $7,626 million and $9,218 million at year-end 2013 and 2012, respectively. | |||||||||||||||||||||||||||
A one percentage point change in the assumed healthcare cost trend rate would have the following effects. | |||||||||||||||||||||||||||
1% | 1% | ||||||||||||||||||||||||||
(In millions) | Increase | Decrease | |||||||||||||||||||||||||
APBO at December 31, 2013 | $ | 788 | $ | -671 | |||||||||||||||||||||||
Service and interest cost in 2013 | 63 | -52 | |||||||||||||||||||||||||
Plan Assets | |||||||||||||||||||||||||||
The fair value of the classes of retiree benefit plans' investments is presented below. The inputs and valuation techniques used to measure the fair value of assets are consistently applied and described in Note 1. | |||||||||||||||||||||||||||
Fair Value of Plan Assets | |||||||||||||||||||||||||||
(In millions) | 2013 | 2012 | |||||||||||||||||||||||||
Balance at January 1 | $ | 946 | $ | 1,004 | |||||||||||||||||||||||
Actual gain on plan assets | 118 | 98 | |||||||||||||||||||||||||
Employer contributions | 533 | 548 | |||||||||||||||||||||||||
Participant contributions | 52 | 54 | |||||||||||||||||||||||||
Benefits paid | -746 | -758 | |||||||||||||||||||||||||
Balance at December 31 | $ | 903 | $ | 946 | |||||||||||||||||||||||
Asset Allocation | |||||||||||||||||||||||||||
31-Dec | 2013 | 2013 | |||||||||||||||||||||||||
Target | Actual | ||||||||||||||||||||||||||
allocation | allocation | ||||||||||||||||||||||||||
Equity securities | 35 - 75 | %(a) | 39 | %(b) | |||||||||||||||||||||||
Debt securities (including cash equivalents) | Nov-46 | 38 | |||||||||||||||||||||||||
Private equities | 0 - 25 | 14 | |||||||||||||||||||||||||
Real estate | 0 - 12 | 7 | |||||||||||||||||||||||||
Other | 0 - 10 | 2 | |||||||||||||||||||||||||
(a) Target allocations were 18-38% for U.S. equity securities and 17-37% for non-U.S. equity securities. | |||||||||||||||||||||||||||
(b) Actual allocations were 23% for U.S. equity securities and 16% for non-U.S. equity securities. | |||||||||||||||||||||||||||
Plan fiduciaries set investment policies and strategies for the trust and oversee its investment allocation, which includes selecting investment managers and setting long-term strategic targets. The primary strategic investment objectives are balancing investment risk and return and monitoring the plan's liquidity position in order to meet the near-term benefit payment and other cash needs. Target allocation percentages are established at an asset class level by plan fiduciaries. Target allocation ranges are guidelines, not limitations, and occasionally plan fiduciaries will approve allocations above or below a target range. | |||||||||||||||||||||||||||
Trust assets invested in short-term securities must generally be invested in securities rated A-1/P-1 or better, except for 15% of such securities that may be rated A-2/P-2 and other short-term securities as may be approved by the plan fiduciaries. According to statute, the aggregate holdings of all qualifying employer securities (e.g., GE common stock) and qualifying employer real property may not exceed 10% of the fair value of trust assets at the time of purchase. GE securities represented 4.0% and 5.8% of trust assets at year-end 2013 and 2012, respectively. | |||||||||||||||||||||||||||
Retiree life plan assets were $903 million and $946 million at December 31, 2013 and 2012, respectively. Equity and debt securities amounting to $727 million and $741 million represented approximately 77% and 75% of total investments at December 31, 2013 and 2012, respectively. The plans' investments were classified as 33% Level 1, 43% Level 2 and 24% Level 3 at December 31, 2013. The plans' investments were classified as 28% Level 1, 47% Level 2 and 25% Level 3 at December 31, 2012. The changes in Level 3 investments were insignificant for the years ended December 31, 2013 and 2012. | |||||||||||||||||||||||||||
Retiree Benefit Asset (Liability) | |||||||||||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | |||||||||||||||||||||||||
Funded status(a) | $ | -9,010 | $ | -10,858 | |||||||||||||||||||||||
Liability recorded in the Statement of Financial Position | |||||||||||||||||||||||||||
Retiree health plans | |||||||||||||||||||||||||||
Due within one year | $ | -531 | $ | -589 | |||||||||||||||||||||||
Due after one year | -7,095 | -8,629 | |||||||||||||||||||||||||
Retiree life plans | -1,384 | -1,640 | |||||||||||||||||||||||||
Net liability recognized | $ | -9,010 | $ | -10,858 | |||||||||||||||||||||||
Amounts recorded in shareowners' equity (unamortized) | |||||||||||||||||||||||||||
Prior service cost | $ | 963 | $ | 1,356 | |||||||||||||||||||||||
Net actuarial loss (gain) | -1,667 | 182 | |||||||||||||||||||||||||
Total | $ | -704 | $ | 1,538 | |||||||||||||||||||||||
(a) Fair value of assets less APBO, as shown in the preceding tables. | |||||||||||||||||||||||||||
In 2014, we estimate that we will amortize $395 million of prior service cost and $170 million of net actuarial gain from shareowners' equity into retiree benefit plans cost. Comparable amortized amounts in 2013 were $393 million of prior service cost and $45 million of net actuarial gain. | |||||||||||||||||||||||||||
Estimated Future Benefit Payments | |||||||||||||||||||||||||||
2019 | – | ||||||||||||||||||||||||||
(In millions) | 2014 | 2015 | 2016 | 2017 | 2018 | 2023 | |||||||||||||||||||||
$ | 725 | $ | 725 | $ | 725 | $ | 725 | $ | 725 | $ | 3,500 | ||||||||||||||||
Postretirement Benefit Plans | |||||||||||||||||||||||||||
2013 Cost of Postretirement Benefit Plans and Changes in Other Comprehensive Income | |||||||||||||||||||||||||||
Total | Principal | Other | Retiree | ||||||||||||||||||||||||
postretirement | pension | pension | benefit | ||||||||||||||||||||||||
(In millions) | benefit plans | plans | plans | plans | |||||||||||||||||||||||
Cost of postretirement benefit plans | $ | 5,977 | $ | 4,405 | $ | 645 | $ | 927 | |||||||||||||||||||
Changes in other comprehensive income | |||||||||||||||||||||||||||
Prior service cost – current year | 11 | - | 11 | - | |||||||||||||||||||||||
Net actuarial gain – current year(a) | -12,263 | -9,218 | -1,151 | -1,894 | |||||||||||||||||||||||
Prior service cost amortization | -646 | -246 | -7 | -393 | |||||||||||||||||||||||
Net actuarial gain (loss) amortization | -3,962 | -3,664 | -343 | 45 | |||||||||||||||||||||||
Total changes in other comprehensive income | -16,860 | -13,128 | -1,490 | -2,242 | |||||||||||||||||||||||
Cost of postretirement benefit plans and | |||||||||||||||||||||||||||
changes in other comprehensive income | $ | -10,883 | $ | -8,723 | $ | -845 | $ | -1,315 | |||||||||||||||||||
Principally associated with discount rate changes and plan asset gains in excess of expected return on plan assets. | |||||||||||||||||||||||||||
All_Other_Liabilities
All Other Liabilities | 12 Months Ended |
Dec. 31, 2013 | |
Other Liabilities [Abstract] | ' |
Other Liabilities | ' |
NOTE 13. ALL OTHER LIABILITIES | |
This caption includes liabilities for various items including non-current compensation and benefits, deferred income, interest on tax liabilities, unrecognized tax benefits, environmental remediation, asset retirement obligations, derivative instruments, product warranties and a variety of sundry items. | |
Accruals for non-current compensation and benefits amounted to $27,853 million and $40,318 million at December 31, 2013 and 2012, respectively. These amounts include postretirement benefits, pension accruals, and other compensation and benefit accruals such as deferred incentive compensation. See Note 12. | |
We are involved in numerous remediation actions to clean up hazardous wastes as required by federal and state laws. Liabilities for remediation costs exclude possible insurance recoveries and, when dates and amounts of such costs are not known, are not discounted. When there appears to be a range of possible costs with equal likelihood, liabilities are based on the low end of such range. It is reasonably possible that our environmental remediation exposure will exceed amounts accrued. However, due to uncertainties about the status of laws, regulations, technology and information related to individual sites, such amounts are not reasonably estimable. Total reserves related to environmental remediation and asbestos claims, were $2,612 million at December 31, 2013. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||||||
Income Taxes | ' | ||||||||||||||||||
NOTE 14. INCOME TAXES | |||||||||||||||||||
Provision for Income Taxes | |||||||||||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||||||||||
GE | |||||||||||||||||||
Current tax expense | $ | 4,239 | $ | 2,307 | $ | 5,166 | |||||||||||||
Deferred tax expense (benefit) from temporary differences | -2,571 | -294 | -327 | ||||||||||||||||
1,668 | 2,013 | 4,839 | |||||||||||||||||
GECC | |||||||||||||||||||
Current tax expense (benefit) | -268 | 1,379 | 783 | ||||||||||||||||
Deferred tax expense (benefit) from temporary differences | -724 | -858 | 123 | ||||||||||||||||
-992 | 521 | 906 | |||||||||||||||||
Consolidated | |||||||||||||||||||
Current tax expense | 3,971 | 3,686 | 5,949 | ||||||||||||||||
Deferred tax expense (benefit) from temporary differences | -3,295 | -1,152 | -204 | ||||||||||||||||
Total | $ | 676 | $ | 2,534 | $ | 5,745 | |||||||||||||
GE and GECC file a consolidated U.S. federal income tax return. This enables GE to use GECC tax deductions and credits to reduce the tax that otherwise would have been payable by GE. The GECC effective tax rate for each period reflects the benefit of these tax reductions in the consolidated return. GE makes cash payments to GECC for these tax reductions at the time GE's tax payments are due. | |||||||||||||||||||
Consolidated U.S. earnings from continuing operations before income taxes were $6,099 million, $8,309 million and $10,206 million in 2013, 2012 and 2011, respectively. The corresponding amounts for non-U.S.-based operations were $10,052 million, $9,072 million and $9,953 million in 2013, 2012 and 2011, respectively. | |||||||||||||||||||
Consolidated current tax expense includes amounts applicable to U.S. federal income taxes of $85 million, $685 million and $1,079 million in 2013, 2012 and 2011, respectively, including the benefit from GECC deductions and credits applied against GE's current U.S. tax expense. Consolidated current tax expense amounts applicable to non-U.S. jurisdictions were $3,659 million, $2,871 million and $4,624 million in 2013, 2012 and 2011, respectively. Consolidated deferred taxes related to U.S. federal income taxes were an expense (benefit) of $(2,315) million, $(414) million and $1,529 million in 2013, 2012 and 2011, respectively, and amounts applicable to non-U.S. jurisdictions of an expense (benefit) of $(1,038) million, $(773) million and $(2,077) million in 2013, 2012 and 2011, respectively. | |||||||||||||||||||
Deferred income tax balances reflect the effects of temporary differences between the carrying amounts of assets and liabilities and their tax bases, as well as from net operating loss and tax credit carryforwards, and are stated at enacted tax rates expected to be in effect when taxes are actually paid or recovered. Deferred income tax assets represent amounts available to reduce income taxes payable on taxable income in future years. We evaluate the recoverability of these future tax deductions and credits by assessing the adequacy of future expected taxable income from all sources, including reversal of taxable temporary differences, forecasted operating earnings and available tax planning strategies. To the extent we do not consider it more likely than not that a deferred tax asset will be recovered, a valuation allowance is established. | |||||||||||||||||||
Our businesses are subject to regulation under a wide variety of U.S. federal, state and foreign tax laws, regulations and policies. Changes to these laws or regulations may affect our tax liability, return on investments and business operations. For example, GE's effective tax rate is reduced because active business income earned and indefinitely reinvested outside the United States is taxed at less than the U.S. rate. A significant portion of this reduction depends upon a provision of U.S. tax law that defers the imposition of U.S. tax on certain active financial services income until that income is repatriated to the United States as a dividend. This provision is consistent with international tax norms and permits U.S. financial services companies to compete more effectively with foreign banks and other foreign financial institutions in global markets. This provision, which had expired at the end of 2011, was reinstated in January 2013 retroactively for two years through the end of 2013. The provision had been scheduled to expire and had been extended by Congress on six previous occasions, but there can be no assurance that it will continue to be extended. In the event the provision is not extended after 2013, the current U.S. tax imposed on active financial services income earned outside the United States would increase, making it more difficult for U.S. financial services companies to compete in global markets. If this provision is not extended, we expect our effective tax rate to increase significantly after 2014. | |||||||||||||||||||
We have not provided U.S. deferred taxes on cumulative earnings of non-U.S. affiliates and associated companies that have been reinvested indefinitely. These earnings relate to ongoing operations and, at December 31, 2013 and December 31, 2012, were approximately $110 billion and $108 billion, respectively. Most of these earnings have been reinvested in active non-U.S. business operations and we do not intend to repatriate these earnings to fund U.S. operations. Because of the availability of U.S. foreign tax credits, it is not practicable to determine the U.S. federal income tax liability that would be payable if such earnings were not reinvested indefinitely. Deferred taxes are provided for earnings of non-U.S. affiliates and associated companies when we plan to remit those earnings. | |||||||||||||||||||
Annually, we file over 5,800 income tax returns in over 250 global taxing jurisdictions. We are under examination or engaged in tax litigation in many of these jurisdictions. During 2013, the Internal Revenue Service (IRS) completed the audit of our consolidated U.S. income tax returns for 2008-2009, except for certain issues that remain under examination. During 2011, the IRS completed the audit of our consolidated U.S. income tax returns for 2006-2007, except for certain issues that remained under examination. At December 31, 2013, the IRS was 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 were 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. Resolution of audit matters, including the IRS audit of our consolidated U.S. income tax returns for 2008-2009, reduced our 2013 consolidated income tax rate by 2.8 percentage points. Resolution of audit matters, including the IRS audit of our consolidated U.S. income tax returns for 2006-2007, reduced our 2011 consolidated effective tax rate by 2.4 percentage points. | |||||||||||||||||||
The balance of unrecognized tax benefits, the amount of related interest and penalties we have provided and what we believe to be the range of reasonably possible changes in the next 12 months were: | |||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | |||||||||||||||||
Unrecognized tax benefits | $ | 5,816 | $ | 5,445 | |||||||||||||||
Portion that, if recognized, would reduce tax expense and effective tax rate(a) | 4,307 | 4,032 | |||||||||||||||||
Accrued interest on unrecognized tax benefits | 975 | 961 | |||||||||||||||||
Accrued penalties on unrecognized tax benefits | 164 | 173 | |||||||||||||||||
Reasonably possible reduction to the balance of unrecognized tax benefits | |||||||||||||||||||
in succeeding 12 months | 0-900 | 0-800 | |||||||||||||||||
Portion that, if recognized, would reduce tax expense and effective tax rate(a) | 0-350 | 0-700 | |||||||||||||||||
(a) Some portion of such reduction might be reported as discontinued operations. | |||||||||||||||||||
A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows: | |||||||||||||||||||
(In millions) | 2013 | 2012 | |||||||||||||||||
Balance at January 1 | $ | 5,445 | $ | 5,230 | |||||||||||||||
Additions for tax positions of the current year | 771 | 293 | |||||||||||||||||
Additions for tax positions of prior years | 872 | 882 | |||||||||||||||||
Reductions for tax positions of prior years | -1,140 | -723 | |||||||||||||||||
Settlements with tax authorities | -98 | -191 | |||||||||||||||||
Expiration of the statute of limitations | -34 | -46 | |||||||||||||||||
Balance at December 31 | $ | 5,816 | $ | 5,445 | |||||||||||||||
We classify interest on tax deficiencies as interest expense; we classify income tax penalties as provision for income taxes. For the years ended December 31, 2013, 2012 and 2011, $22 million, $(45) million and $(197) million of interest expense (income), respectively, and $0 million, $33 million and $10 million of tax expense (income) related to penalties, respectively, were recognized in the Statement of Earnings. | |||||||||||||||||||
A reconciliation of the U.S. federal statutory income tax rate to the actual income tax rate is provided below. | |||||||||||||||||||
Reconciliation of U.S. Federal Statutory Income Tax Rate to Actual Income Tax Rate | |||||||||||||||||||
Consolidated | GE | GECC | |||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||
U.S. federal statutory income | |||||||||||||||||||
tax rate | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | |
Increase (reduction) in rate | |||||||||||||||||||
resulting from | |||||||||||||||||||
inclusion of after-tax | |||||||||||||||||||
earnings of GECC in | |||||||||||||||||||
before-tax earnings of GE | - | - | - | -16.9 | -15.3 | -11.9 | - | - | - | ||||||||||
Tax on global activities | |||||||||||||||||||
including exports(a) | -24.7 | -12.5 | -10.4 | -4.1 | -4.3 | -5.2 | -45 | -18.4 | -14.7 | ||||||||||
NBCU gain | -0.7 | - | 9.3 | -0.7 | - | 9.8 | - | - | - | ||||||||||
Business Property disposition | - | -1.9 | - | - | - | - | - | -4.2 | - | ||||||||||
U.S. business credits(b) | -3.6 | -2.6 | -3.2 | -1.5 | -0.7 | -1.5 | -4.6 | -4.3 | -4.7 | ||||||||||
All other – net | -1.8 | -3.4 | -2.2 | -2 | -2.7 | -0.9 | 1 | -1.5 | -3.5 | ||||||||||
-30.8 | -20.4 | -6.5 | -25.2 | -23 | -9.7 | -48.6 | -28.4 | -22.9 | |||||||||||
Actual income tax rate | 4.2 | % | 14.6 | % | 28.5 | % | 9.8 | % | 12 | % | 25.3 | % | -13.6 | % | 6.6 | % | 12.1 | % | |
Included (6.0)% and (13.3)% in consolidated and GECC, respectively, related to the sale of 68.5% of our Swiss consumer finance bank, Cembra Money Bank AG (Cembra), through an initial public offering in 2013. | |||||||||||||||||||
U.S. general business credits, primarily the credit for manufacture of energy efficient appliances, the credit for energy produced from renewable sources, the advanced energy project credit, the low-income housing credit and the credit for research performed in the U.S. | |||||||||||||||||||
Deferred Income Taxes | |||||||||||||||||||
Aggregate deferred income tax amounts are summarized below. | |||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | |||||||||||||||||
Assets | |||||||||||||||||||
GE | $ | 15,284 | $ | 19,745 | |||||||||||||||
GECC | 13,224 | 11,876 | |||||||||||||||||
28,508 | 31,621 | ||||||||||||||||||
Liabilities | |||||||||||||||||||
GE | -10,223 | -13,799 | |||||||||||||||||
GECC | -18,010 | -17,876 | |||||||||||||||||
-28,233 | -31,675 | ||||||||||||||||||
Net deferred income tax asset (liability) | $ | 275 | $ | -54 | |||||||||||||||
Principal components of our net asset (liability) representing deferred income tax balances are as follows: | |||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | |||||||||||||||||
GE | |||||||||||||||||||
Provision for expenses(a) | $ | 5,934 | $ | 6,503 | |||||||||||||||
Principal pension plans | 3,436 | 6,567 | |||||||||||||||||
Retiree insurance plans | 3,154 | 3,800 | |||||||||||||||||
Non-U.S. loss carryforwards(b) | 874 | 942 | |||||||||||||||||
Contract costs and estimated earnings | -3,550 | -3,087 | |||||||||||||||||
Intangible assets | -2,268 | -2,269 | |||||||||||||||||
Depreciation | -1,079 | -698 | |||||||||||||||||
Investment in global subsidiaries | -1,077 | -921 | |||||||||||||||||
Investment in NBCU LLC | - | -4,937 | |||||||||||||||||
Other – net | -363 | 46 | |||||||||||||||||
5,061 | 5,946 | ||||||||||||||||||
GECC | |||||||||||||||||||
Operating leases | -6,284 | -6,141 | |||||||||||||||||
Financing leases | -4,075 | -4,506 | |||||||||||||||||
Intangible assets | -1,943 | -1,666 | |||||||||||||||||
Cash flow hedges | -163 | -115 | |||||||||||||||||
Net unrealized gains (losses) on securities | -145 | -314 | |||||||||||||||||
Non-U.S. loss carryforwards(b) | 3,791 | 3,049 | |||||||||||||||||
Allowance for losses | 2,640 | 1,975 | |||||||||||||||||
Investment in global subsidiaries | 1,883 | 1,689 | |||||||||||||||||
Other – net | -490 | 29 | |||||||||||||||||
-4,786 | -6,000 | ||||||||||||||||||
Net deferred income tax asset (liability) | $ | 275 | $ | -54 | |||||||||||||||
(a) Represented the tax effects of temporary differences related to expense accruals for a wide variety of items, such as employee compensation and benefits, other pension plan liabilities, interest on tax liabilities, product warranties and other sundry items that are not currently deductible. | |||||||||||||||||||
(b) Net of valuation allowances of $2,089 million and $1,712 million for GE and $862 million and $628 million for GECC, for 2013 and 2012, respectively. Of the net deferred tax asset as of December 31, 2013, of $4,665 million, $30 million relates to net operating loss carryforwards that expire in various years ending from December 31, 2014, through December 31, 2016; $478 million relates to net operating losses that expire in various years ending from December 31, 2017 through December 31, 2030 and $4,157 million relates to net operating loss carryforwards that may be carried forward indefinitely. |
Shareowners_Equity
Shareowners' Equity | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||||
Shareowners' Equity | ' | ||||||||||
NOTE 15. SHAREOWNERS' EQUITY | |||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||
Preferred stock issued | $ | - | $ | - | $ | - | |||||
Common stock issued | $ | 702 | $ | 702 | $ | 702 | |||||
Accumulated other comprehensive income | |||||||||||
Balance at January 1 | $ | -20,230 | $ | -23,974 | $ | -17,855 | |||||
Other comprehensive income before reclassifications | 8,844 | 841 | -9,601 | ||||||||
Reclassifications from other comprehensive income | 2,266 | 2,903 | 3,482 | ||||||||
Other comprehensive income, net, attributable to GE | 11,110 | 3,744 | -6,119 | ||||||||
Balance at December 31 | $ | -9,120 | $ | -20,230 | $ | -23,974 | |||||
Other capital | |||||||||||
Balance at January 1 | $ | 33,070 | $ | 33,693 | $ | 36,890 | |||||
Gains (losses) on treasury stock dispositions and other | -576 | -623 | -703 | ||||||||
Preferred stock redemption | - | - | -2,494 | ||||||||
Balance at December 31 | $ | 32,494 | $ | 33,070 | $ | 33,693 | |||||
Retained earnings | |||||||||||
Balance at January 1 | $ | 144,055 | $ | 137,786 | $ | 131,137 | |||||
Net earnings attributable to the Company | 13,057 | 13,641 | 14,151 | ||||||||
Dividends(a) | -8,060 | -7,372 | -7,498 | ||||||||
Other | -1 | - | -4 | ||||||||
Balance at December 31 | $ | 149,051 | $ | 144,055 | $ | 137,786 | |||||
Common stock held in treasury | |||||||||||
Balance at January 1 | $ | -34,571 | $ | -31,769 | $ | -31,938 | |||||
Purchases | -10,466 | -5,295 | -2,067 | ||||||||
Dispositions | 2,476 | 2,493 | 2,236 | ||||||||
Balance at December 31 | $ | -42,561 | $ | -34,571 | $ | -31,769 | |||||
Total equity | |||||||||||
GE shareowners' equity balance at December 31 | $ | 130,566 | $ | 123,026 | $ | 116,438 | |||||
Noncontrolling interests balance at December 31 | 6,217 | 5,444 | 1,696 | ||||||||
Total equity balance at December 31 | $ | 136,783 | $ | 128,470 | $ | 118,134 | |||||
(a) Included $1,031 million ($806 million related to our preferred stock redemption) of dividends on preferred stock in 2011. | |||||||||||
Shares of GE Preferred Stock | |||||||||||
On October 16, 2008, we issued 30,000 shares of 10% cumulative perpetual preferred stock (par value $1.00 per share) having an aggregate liquidation value of $3,000 million, and warrants to purchase 134,831,460 shares of common stock (par value $0.06 per share) to Berkshire Hathaway Inc. (Berkshire Hathaway) for net proceeds of $2,965 million in cash. The proceeds were allocated to the preferred shares ($2,494 million) and the warrants ($471 million) on a relative fair value basis and recorded in other capital. The warrants were exercisable through October 16, 2013, at an exercise price of $22.25 per share of common stock and were to be settled through physical share issuance. The terms of the warrants were amended in January 2013 to allow for net share settlement where the total number of issued shares is based on the amount by which the average market price of GE common stock over the 20 trading days preceding the date of exercise exceeds the exercise price of $22.25. On October 16, 2013, Berkshire Hathaway Inc. (Berkshire Hathaway) exercised in full their warrants to purchase shares of GE common stock and on October 17, 2013, GE delivered 10.7 million shares to Berkshire Hathaway. The transaction had equal and offsetting effects on other capital and common stock held in treasury. | |||||||||||
The preferred stock was redeemable at our option three years after issuance at a price of 110% of liquidation value plus accrued and unpaid dividends. On September 13, 2011, we provided notice to Berkshire Hathaway that we would redeem the shares for the stated redemption price of $3,300 million, plus accrued and unpaid dividends. In connection with this notice, we recognized a preferred dividend of $806 million (calculated as the difference between the carrying value and redemption value of the preferred stock), which was recorded as a reduction to earnings attributable to common shareowners and common shareowners' equity. The preferred shares were redeemed on October 17, 2011. | |||||||||||
GE has 50 million authorized shares of preferred stock ($1.00 par value). No shares were issued and outstanding as of December 31, 2013 and 2012. | |||||||||||
Shares of GE Common Stock | |||||||||||
On December 14, 2012, we increased the existing authorization by $10 billion to $25 billion for our share repurchase program and extended the program (which would have otherwise expired on December 31, 2013) through 2015. On February 12, 2013, we increased the existing authorization by an additional $10 billion resulting in authorization to repurchase up to a total of $35 billion of our common stock through 2015. Under this program, on a book basis, we repurchased 432.6 million shares for a total of $10,375 million during 2013 and 248.6 million shares for a total of $5,185 million during 2012. | |||||||||||
GE has 13.2 billion authorized shares of common stock ($0.06 par value). | |||||||||||
Common shares issued and outstanding are summarized in the following table. | |||||||||||
December 31 (In thousands) | 2013 | 2012 | 2011 | ||||||||
Issued | 11,693,841 | 11,693,841 | 11,693,841 | ||||||||
In treasury | -1,632,960 | -1,288,216 | -1,120,824 | ||||||||
Outstanding | 10,060,881 | 10,405,625 | 10,573,017 | ||||||||
Accumulated Other Comprehensive Income | |||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||
Investment securities | |||||||||||
Balance at January 1 | $ | 677 | $ | -30 | $ | -636 | |||||
OCI before reclassifications - net of deferred taxes of $(407), $387 and $341(a) | -692 | 683 | 577 | ||||||||
Reclassifications from OCI - net of deferred taxes of $222, $13 and $1 | 318 | 22 | 31 | ||||||||
Other comprehensive income(b) | -374 | 705 | 608 | ||||||||
Less: OCI attributable to noncontrolling interests | -4 | -2 | 2 | ||||||||
Balance at December 31 | $ | 307 | $ | 677 | $ | -30 | |||||
Currency translation adjustments (CTA) | |||||||||||
Balance at January 1 | $ | 412 | $ | 133 | $ | -86 | |||||
OCI before reclassifications - net of deferred taxes of $(613), $(266) and $(717) | 510 | 474 | -201 | ||||||||
Reclassifications from OCI - net of deferred taxes of $793, $54 and $357 | -818 | -174 | 381 | ||||||||
Other comprehensive income(b) | -308 | 300 | 180 | ||||||||
Less: OCI attributable to noncontrolling interests | -22 | 21 | -39 | ||||||||
Balance at December 31 | $ | 126 | $ | 412 | $ | 133 | |||||
Cash flow hedges | |||||||||||
Balance at January 1 | $ | -722 | $ | -1,176 | $ | -1,280 | |||||
OCI before reclassifications - net of deferred taxes of $250, $392 and $238 | 738 | 385 | -860 | ||||||||
Reclassifications from OCI - net of deferred taxes of $(177), $(245) and $202 | -271 | 68 | 978 | ||||||||
Other comprehensive income(b) | 467 | 453 | 118 | ||||||||
Less: OCI attributable to noncontrolling interests | 2 | -1 | 14 | ||||||||
Balance at December 31 | $ | -257 | $ | -722 | $ | -1,176 | |||||
Benefit plans | |||||||||||
Balance at January 1 | $ | -20,597 | $ | -22,901 | $ | -15,853 | |||||
Prior service credit (cost) - net of deferred taxes of $(5), $304 and $(276) | -6 | 534 | -495 | ||||||||
Net actuarial gain (loss) - net of deferred taxes of $4,506, $(574) and $(4,746) | 8,269 | -1,396 | -8,637 | ||||||||
Net curtailment/settlement - net of deferred taxes of $0, $123 and $0 | - | 174 | - | ||||||||
Prior service cost amortization - net of deferred taxes of $267, $326 and $341 | 397 | 497 | 514 | ||||||||
Net actuarial loss amortization - net of deferred taxes of $1,343, $1,278 and $811 | 2,640 | 2,490 | 1,578 | ||||||||
Other comprehensive income(b) | 11,300 | 2,299 | -7,040 | ||||||||
Less: OCI attributable to noncontrolling interests | -1 | -5 | 8 | ||||||||
Balance at December 31 | $ | -9,296 | $ | -20,597 | $ | -22,901 | |||||
Accumulated other comprehensive income at December 31 | $ | -9,120 | $ | -20,230 | $ | -23,974 | |||||
Includes adjustments of $(1,171) million, $527 million and $786 million in 2013, 2012 and 2011, respectively, to deferred acquisition costs, present value of future profits, and investment contracts, insurance liabilities and insurance annuity benefits in our run-off insurance operations to reflect the effects that would have been recognized had the related unrealized investment securities holding gains and losses actually been realized. | |||||||||||
Total other comprehensive income was $11,085 million, $3,757 million and $(6,134) million in 2013, 2012 and 2011, respectively. | |||||||||||
Reclassification out of AOCI | |||||||||||
Components of AOCI | 2013 | 2012 | 2011 | Statement of Earnings Caption | |||||||
Available-for-sale securities | |||||||||||
Realized gains (losses) on | |||||||||||
sale/impairment of securities | $ | -540 | $ | -35 | $ | -32 | Other income | ||||
222 | 13 | 1 | Tax (expense) or benefit | ||||||||
$ | -318 | $ | -22 | $ | -31 | Net of tax | |||||
Currency translation adjustments | |||||||||||
Gains (losses) on dispositions | $ | 25 | $ | 120 | $ | -738 | Costs and expenses | ||||
793 | 54 | 357 | Tax (expense) or benefit | ||||||||
$ | 818 | $ | 174 | $ | -381 | Net of tax | |||||
Cash flow hedges | |||||||||||
Gains (losses) on interest rate derivatives | $ | -364 | $ | -499 | $ | -820 | Interest and other financial charges | ||||
Foreign exchange contracts | 564 | 792 | -510 | (a) | |||||||
Other | 248 | -116 | 150 | (b) | |||||||
448 | 177 | -1,180 | Total before tax | ||||||||
-177 | -245 | 202 | Tax (expense) or benefit | ||||||||
$ | 271 | $ | -68 | $ | -978 | Net of tax | |||||
Benefit plan items | |||||||||||
Amortization of prior service costs | $ | -664 | $ | -823 | $ | -855 | (c) | ||||
Amortization of actuarial gains (losses) | -3,983 | -3,768 | -2,389 | (c) | |||||||
-4,647 | -4,591 | -3,244 | Total before tax | ||||||||
1,610 | 1,604 | 1,152 | Tax (expense) or benefit | ||||||||
$ | -3,037 | $ | -2,987 | $ | -2,092 | Net of tax | |||||
Total reclassification adjustments | $ | -2,266 | $ | -2,903 | $ | -3,482 | Net of tax | ||||
Includes $608 million, $894 million and $(310) million in GECC revenues from services and $(44) million, $(102) million and $(200) million in interest and other financial charges for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||
Primarily included in costs and expenses. | |||||||||||
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 12 for further information. | |||||||||||
Noncontrolling Interests | |||||||||||
Noncontrolling interests in equity of consolidated affiliates includes common shares in consolidated affiliates and preferred stock issued by GECC. The balance is summarized as follows. | |||||||||||
December 31 (In millions) | 2013 | 2012 | |||||||||
GECC preferred stock | $ | 4,950 | $ | 3,960 | |||||||
Other noncontrolling interests in consolidated affiliates(a) | 1,267 | 1,484 | |||||||||
Total | $ | 6,217 | $ | 5,444 | |||||||
(a) Consisted of a number of individually insignificant noncontrolling interests in partnerships and consolidated affiliates. | |||||||||||
Changes to noncontrolling interests are as follows. | |||||||||||
Years ended December 31 | |||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||
Beginning balance | $ | 5,444 | $ | 1,696 | $ | 5,262 | |||||
Net earnings | 298 | 223 | 292 | ||||||||
GECC issuance of preferred stock | 990 | 3,960 | - | ||||||||
GECC preferred stock dividend | -298 | -123 | - | ||||||||
Repurchase of NBCU shares(a) | - | - | -3,070 | ||||||||
Dispositions(b) | -175 | - | -609 | ||||||||
Dividends | -80 | -42 | -34 | ||||||||
Other (including AOCI)(c) | 38 | -270 | -145 | ||||||||
Ending balance | $ | 6,217 | $ | 5,444 | $ | 1,696 | |||||
(a) In January 2011 and prior to the transaction with Comcast, we acquired 12.3% of NBCU's outstanding shares from Vivendi for $3,673 million and made an additional payment of $222 million related to previously purchased shares. Of these amounts, $3,070 million reflects a reduction in carrying value of noncontrolling interests. The remaining amount of $825 million represents the amount paid in excess of our carrying value, which was recorded as an increase in our basis in NBCU. | |||||||||||
(b) Includes noncontrolling interests related to the sale of GE SeaCo of $311 million and the redemption of Heller Financial preferred stock of $275 million in 2011. | |||||||||||
(c) Primarily acquisitions and eliminations. | |||||||||||
During the second quarter of 2013, GECC issued 10,000 shares of non-cumulative perpetual preferred stock with a $0.01 par value for proceeds of $990 million. The preferred shares bear an initial fixed interest rate of 5.25% through June 15, 2023, bear a floating rate equal to three-month LIBOR plus 2.967% thereafter and are callable on June 15, 2023. Dividends on the GECC preferred stock are payable semi-annually, in June and December, with the first payment on this issuance made in December 2013. | |||||||||||
During 2012, GECC issued 40,000 shares of non-cumulative perpetual preferred stock with a $0.01 par value for proceeds of $3,960 million. Of these shares, 22,500 bear an initial fixed interest rate of 7.125% through June 15, 2022, bear a floating rate equal to three-month LIBOR plus 5.296% thereafter and are callable on June 15, 2022, and 17,500 shares bear an initial fixed interest rate of 6.25% through December 15, 2022, bear a floating rate equal to three-month LIBOR plus 4.704% thereafter and are callable on December 15, 2022. Dividends on the GECC preferred stock are payable semi-annually, in June and December, with the first payment on these issuances made in December 2012. GECC preferred stock is presented as noncontrolling interests in the GE consolidated statement of financial position. | |||||||||||
During 2013 and 2012, GECC paid quarterly dividends of $1,930 million and $1,926 million, respectively, and special dividends of $4,055 million and $4,500 million, respectively, to GE. No dividends were paid during 2011. | |||||||||||
Other_Stockrelated_Information
Other Stock-related Information | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Share-based Compensation [Abstract] | ' | ||||||||||||||
Other Stock-Related Information | ' | ||||||||||||||
NOTE 16. OTHER STOCK-RELATED INFORMATION | |||||||||||||||
We grant stock options, restricted stock units (RSUs) and performance share units (PSUs) to employees under the 2007 Long-Term Incentive Plan. This plan replaced the 1990 Long-Term Incentive Plan. In addition, we grant options and RSUs in limited circumstances to consultants, advisors and independent contractors under a plan approved by our Board of Directors in 1997 (the Consultants' Plan). Share requirements for all plans may be met from either unissued or treasury shares. Stock options expire 10 years from the date they are granted and vest over service periods that range from one to five years. RSUs give the recipients the right to receive shares of our stock upon the vesting of their related restrictions. Restrictions on RSUs vest in various increments and at various dates, beginning after one year from date of grant through grantee retirement. Although the plan permits us to issue RSUs settleable in cash, we have only issued RSUs settleable in shares of our stock. PSUs give recipients the right to receive shares of our stock upon the achievement of certain performance targets. | |||||||||||||||
All grants of GE options under all plans must be approved by the Management Development and Compensation Committee, which consists entirely of independent directors. | |||||||||||||||
Stock Compensation Plans | |||||||||||||||
Securities | |||||||||||||||
to be | Weighted | Securities | |||||||||||||
issued | average | available | |||||||||||||
upon | exercise | for future | |||||||||||||
December 31, 2013 (Shares in thousands) | exercise | price | issuance | ||||||||||||
Approved by shareowners | |||||||||||||||
Options | 473,247 | $ | 20.02 | (a) | |||||||||||
RSUs | 13,572 | (b) | (a) | ||||||||||||
PSUs | 950 | (b) | (a) | ||||||||||||
Not approved by shareowners (Consultants’ Plan) | |||||||||||||||
Options | 364 | 25.32 | (c) | ||||||||||||
RSUs | - | (b) | (c) | ||||||||||||
Total | 488,133 | $ | 20.02 | 404,574 | |||||||||||
(a) In 2007, the Board of Directors approved the 2007 Long-Term Incentive Plan (the Plan), which replaced the 1990 Long-Term Incentive Plan. During 2012, an amendment was approved to increase the number of shares authorized for issuance under the Plan from 500 million shares to 925 million shares. No more than 230 million of the total number of authorized shares may be available for awards granted in any form provided under the Plan other than options or stock appreciation rights. Total shares available for future issuance under the Plan amounted to 376.4 million shares at December 31, 2013. | |||||||||||||||
(b) Not applicable. | |||||||||||||||
(c) Total shares available for future issuance under the Consultants' Plan amount to 28.2 million shares. | |||||||||||||||
Outstanding options expire on various dates through December 13, 2023. | |||||||||||||||
The following table summarizes information about stock options outstanding at December 31, 2013. | |||||||||||||||
Stock Options Outstanding | |||||||||||||||
Outstanding | Exercisable | ||||||||||||||
Average | Average | ||||||||||||||
Shares | Average | exercise | Shares | exercise | |||||||||||
Exercise price range | (In thousands) | life(a) | price | (In thousands) | price | ||||||||||
Under $10.00 | 34,973 | 4.9 | $ | 9.57 | 26,995 | $ | 9.57 | ||||||||
10.01-15.00 | 56,571 | 5.1 | 11.98 | 45,821 | 11.98 | ||||||||||
15.01-20.00 | 172,157 | 6.8 | 17.46 | 91,007 | 17.24 | ||||||||||
20.01-25.00 | 139,740 | 9.1 | 22.55 | 20,533 | 21.57 | ||||||||||
25.01-30.00 | 20,638 | 4.3 | 28.19 | 20,115 | 28.23 | ||||||||||
30.01-35.00 | 35,993 | 1.6 | 33.54 | 35,993 | 33.54 | ||||||||||
Over $35.00 | 13,539 | 3.3 | 38.67 | 13,539 | 38.67 | ||||||||||
Total | 473,611 | 6.5 | $ | 20.02 | 254,003 | $ | 20.15 | ||||||||
At year-end 2012, options with a weighted average exercise price of $20.85 were exercisable on 214 million shares. | |||||||||||||||
(a) Average contractual life remaining in years. | |||||||||||||||
Stock Option Activity | |||||||||||||||
Weighted | |||||||||||||||
Weighted | average | Aggregate | |||||||||||||
average | remaining | intrinsic | |||||||||||||
Shares | exercise | contractual | value | ||||||||||||
(In thousands) | price | term (In years) | (In millions) | ||||||||||||
Outstanding at January 1, 2013 | 467,837 | $ | 19.27 | ||||||||||||
Granted | 62,762 | 23.8 | |||||||||||||
Exercised | -36,191 | 13.65 | |||||||||||||
Forfeited | -9,688 | 18.95 | |||||||||||||
Expired | -11,109 | 31.6 | |||||||||||||
Outstanding at December 31, 2013 | 473,611 | $ | 20.02 | 6.5 | $ | 4,140 | |||||||||
Exercisable at December 31, 2013 | 254,003 | $ | 20.15 | 5.1 | $ | 2,348 | |||||||||
Options expected to vest | 200,909 | $ | 19.79 | 8 | $ | 1,656 | |||||||||
We measure the fair value of each stock option grant at the date of grant using a Black-Scholes option pricing model. The weighted average grant-date fair value of options granted during 2013, 2012 and 2011 was $4.52, $3.80 and $4.00, respectively. The following assumptions were used in arriving at the fair value of options granted during 2013, 2012 and 2011, respectively: risk-free interest rates of 2.5%, 1.3% and 2.6%; dividend yields of 4.0%, 4.0% and 3.9%; expected volatility of 28%, 29% and 30%; and expected lives of 7.5 years, 7.8 years and 7.7 years. Risk-free interest rates reflect the yield on zero-coupon U.S. Treasury securities. Expected dividend yields presume a set dividend rate and we used a historical five-year average for the dividend yield. Expected volatilities are based on implied volatilities from traded options and historical volatility of our stock. The expected option lives are based on our historical experience of employee exercise behavior. | |||||||||||||||
The total intrinsic value of options exercised during 2013, 2012 and 2011 amounted to $392 million, $265 million and $65 million, respectively. As of December 31, 2013, there was $663 million of total unrecognized compensation cost related to nonvested options. That cost is expected to be recognized over a weighted average period of 2 years, of which approximately $180 million after tax is expected to be recognized in 2014. | |||||||||||||||
Stock option expense recognized in net earnings during 2013, 2012 and 2011 amounted to $231 million, $220 million and $230 million, respectively. Cash received from option exercises during 2013, 2012 and 2011 was $490 million, $355 million and $89 million, respectively. The tax benefit realized from stock options exercised during 2013, 2012 and 2011 was $128 million, $88 million and $21 million, respectively. | |||||||||||||||
Other Stock-based Compensation | |||||||||||||||
Weighted | |||||||||||||||
Weighted | average | Aggregate | |||||||||||||
average | remaining | intrinsic | |||||||||||||
Shares | grant date | contractual | value | ||||||||||||
(In thousands) | fair value | term (In years) | (In millions) | ||||||||||||
RSUs outstanding at January 1, 2013 | 14,878 | $ | 22.45 | ||||||||||||
Granted | 3,951 | 24.54 | |||||||||||||
Vested | -4,583 | 24.35 | |||||||||||||
Forfeited | -674 | 21.25 | |||||||||||||
RSUs outstanding at December 31, 2013 | 13,572 | $ | 22.58 | 2.8 | $ | 380 | |||||||||
RSUs expected to vest | 12,352 | $ | 22.32 | 2.7 | $ | 346 | |||||||||
The fair value of each restricted stock unit is the market price of our stock on the date of grant. The weighted average grant date fair value of RSUs granted during 2013, 2012 and 2011 was $24.54, $20.79 and $16.74, respectively. The total intrinsic value of RSUs vested during 2013, 2012 and 2011 amounted to $109 million, $116 million and $154 million, respectively. As of December 31, 2013, there was $190 million of total unrecognized compensation cost related to nonvested RSUs. That cost is expected to be recognized over a weighted average period of 2 years, of which approximately $42 million after tax is expected to be recognized in 2014. As of December 31, 2013, 1.0 million PSUs with a weighted average remaining contractual term of 2 years, an aggregate intrinsic value of $27 million and $8 million of unrecognized compensation cost were outstanding. Other share-based compensation expense for RSUs and PSUs recognized in net earnings amounted to $62 million, $79 million and $84 million in 2013, 2012 and 2011, respectively. | |||||||||||||||
The income tax benefit recognized in earnings based on the compensation expense recognized for all share-based compensation arrangements amounted to $145 million, $153 million and $163 million in 2013, 2012 and 2011, respectively. The excess of actual tax deductions over amounts assumed, which are recognized in shareowners' equity, were $86 million $53 million and $12 million in 2013, 2012 and 2011, respectively. | |||||||||||||||
When stock options are exercised and restricted stock vests, the difference between the assumed tax benefit and the actual tax benefit must be recognized in our financial statements. In circumstances in which the actual tax benefit is lower than the estimated tax benefit, that difference is recorded in equity, to the extent there are sufficient accumulated excess tax benefits. At December 31, 2013, our accumulated excess tax benefits are sufficient to absorb any future differences between actual and estimated tax benefits for all of our outstanding option and restricted stock grants. | |||||||||||||||
Other_Income
Other Income | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Component of Operating Income [Abstract] | ' | ||||||||
Other Income | ' | ||||||||
NOTE 17. OTHER INCOME | |||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||
GE | |||||||||
Purchases and sales of business interests(a) | $ | 1,777 | $ | 574 | $ | 3,804 | |||
Licensing and royalty income | 320 | 290 | 304 | ||||||
Marketable securities and bank deposits | 54 | 38 | 52 | ||||||
Associated companies(b) | 40 | 1,545 | 894 | ||||||
Interest income from GECC | 21 | 114 | 206 | ||||||
Other items(c) | 674 | 96 | 8 | ||||||
2,886 | 2,657 | 5,268 | |||||||
Eliminations | 222 | -94 | -205 | ||||||
Total | $ | 3,108 | $ | 2,563 | $ | 5,063 | |||
(a) Included a pre-tax gain of $1,096 million on the sale of our 49% common equity interest in NBCU LLC and $3,705 million related to formation of NBCU LLC, in 2013 and 2011, respectively. See Note 2. | |||||||||
(b) Included income of $1,416 million and $789 million from our former equity method investment in NBCU LLC, in 2012 and 2011, respectively. | |||||||||
(c) Included net gains on asset sales of $330 million in 2013. |
GECC_Revenues_from_Services
GECC Revenues from Services | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Financial Services Revenue [Abstract] | ' | ||||||||
GECC Revenues From Services | ' | ||||||||
NOTE 18. GECC REVENUES FROM SERVICES | |||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||
Interest on loans | $ | 17,951 | $ | 18,843 | $ | 19,818 | |||
Equipment leased to others | 9,804 | 10,456 | 10,879 | ||||||
Fees | 4,720 | 4,709 | 4,669 | ||||||
Investment income(a) | 1,809 | 2,630 | 2,500 | ||||||
Financing leases | 1,667 | 1,888 | 2,378 | ||||||
Associated companies(b) | 1,809 | 1,538 | 2,337 | ||||||
Premiums earned by insurance activities | 1,573 | 1,715 | 1,905 | ||||||
Real estate investments(c) | 2,528 | 1,709 | 1,625 | ||||||
Other items(a)(d) | 2,080 | 1,757 | 2,065 | ||||||
43,941 | 45,245 | 48,176 | |||||||
Eliminations | -1,546 | -1,273 | -1,219 | ||||||
Total | $ | 42,395 | $ | 43,972 | $ | 46,957 | |||
(a) Included net other-than-temporary impairments on investment securities of $747 million, $140 million and $387 million in 2013, 2012 and 2011, respectively, of which $96 million related to the impairment of an investment in a Brazilian company that was fully offset by the benefit of a guarantee provided by GE as a component of other items for 2013. See Note 3. | |||||||||
(b) During 2013, we sold our remaining equity interest in the Bank of Ayudhya (Bay Bank) and recorded a pre-tax gain of $641 million. During 2012, we sold our remaining equity interest in Garanti Bank, which was classified as an available-for-sale security. During 2011, we sold an 18.6% equity interest in Garanti Bank and recorded a pre-tax gain of $690 million. | |||||||||
(c) During 2013, we sold real estate comprising certain floors located at 30 Rockefeller Center, New York for a pre-tax gain of $902 million. | |||||||||
(d) During 2013, we sold a portion of Cembra through an initial public offering and recorded a pre-tax gain of $351 million. |
Supplemental_Cost_Information
Supplemental Cost Information | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Supplemental Cost Information [Abstract] | ' | ||||||||||||||
Supplemental Cost Information | ' | ||||||||||||||
NOTE 19. SUPPLEMENTAL COST INFORMATION | |||||||||||||||
We funded research and development expenditures of $4,750 million in 2013, $4,520 million in 2012 and $4,601 million in 2011. Research and development costs are classified in cost of goods sold in the Statement of Earnings. In addition, research and development funding from customers, principally the U.S. government, totaled $711 million, $680 million and $788 million in 2013, 2012 and 2011, respectively. | |||||||||||||||
Consolidated other costs and expenses totaled $35,143 million, $35,897 million and $36,841 million in 2013, 2012 and 2011, respectively, and comprised selling, general and administrative costs (SG&A), depreciation and amortization and other operating costs. GE's SG&A totaled $16,105 million, $17,671 million and $17,554 million in 2013, 2012 and 2011, respectively. GECC's operating and administrative expenses totaled $12,463 million, $12,023 million and $13,009 million in 2013, 2012 and 2011, respectively, and depreciation and amortization totaled $7,313 million, $6,901 million and $6,918 million in 2013, 2012 and 2011, respectively. | |||||||||||||||
Our businesses enter into collaborative arrangements primarily with manufacturers and suppliers of components used to build and maintain certain engines, under which GE and these participants share in risks and rewards of these product programs. Under these arrangements, participation fees earned and recorded as other income totaled $44 million, $36 million and $12 million for the years 2013, 2012 and 2011, respectively. GE's payments to participants are recorded as cost of services sold ($820 million, $594 million and $612 million for the years 2013, 2012 and 2011, respectively) or as cost of goods sold ($2,613 million, $2,507 million and $1,996 million for the years 2013, 2012 and 2011, respectively). | |||||||||||||||
Rental expense under operating leases is shown below. | |||||||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||||||
GE | $ | 1,220 | $ | 1,134 | $ | 958 | |||||||||
GECC | 428 | 539 | 592 | ||||||||||||
1,648 | 1,673 | 1,550 | |||||||||||||
Eliminations | -135 | -142 | -165 | ||||||||||||
Total | $ | 1,513 | $ | 1,531 | $ | 1,385 | |||||||||
At December 31, 2013, minimum rental commitments under noncancellable operating leases aggregated $3,087 million and $1,427 million for GE and GECC, respectively. Amounts payable over the next five years follow. | |||||||||||||||
(In millions) | 2014 | 2015 | 2016 | 2017 | 2018 | ||||||||||
GE | $ | 660 | $ | 581 | $ | 523 | $ | 440 | $ | 354 | |||||
GECC | 253 | 213 | 185 | 153 | 113 | ||||||||||
913 | 794 | 708 | 593 | 467 | |||||||||||
Eliminations | -59 | -42 | -34 | -24 | -16 | ||||||||||
Total | $ | 854 | $ | 752 | $ | 674 | $ | 569 | $ | 451 |
Earnings_Per_Share_Information
Earnings Per Share Information | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||||
Earnings Per Share Information | ' | |||||||||||||||||
NOTE 20. EARNINGS PER SHARE INFORMATION | ||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||
(In millions; per-share amounts in dollars) | Diluted | Basic | Diluted | Basic | Diluted | Basic | ||||||||||||
Amounts attributable to the Company: | ||||||||||||||||||
Consolidated | ||||||||||||||||||
Earnings from continuing operations for per-share | ||||||||||||||||||
calculation(a)(b) | $ | 15,145 | $ | 15,157 | $ | 14,604 | $ | 14,603 | $ | 14,102 | $ | 14,101 | ||||||
Preferred stock dividends declared(c) | - | - | - | - | -1,031 | -1,031 | ||||||||||||
Earnings from continuing operations attributable to | ||||||||||||||||||
common shareowners for per-share calculation(a)(b) | 15,145 | 15,157 | 14,604 | 14,603 | 13,070 | 13,070 | ||||||||||||
Earnings (loss) from discontinued operations for | ||||||||||||||||||
per-share calculation(a)(b) | -2,128 | -2,116 | -980 | -980 | 30 | 30 | ||||||||||||
Net earnings attributable to GE common shareowners | ||||||||||||||||||
for per-share calculation(a)(b) | $ | 13,028 | $ | 13,040 | $ | 13,622 | $ | 13,622 | $ | 13,099 | $ | 13,098 | ||||||
Average equivalent shares | ||||||||||||||||||
Shares of GE common stock outstanding | 10,222 | 10,222 | 10,523 | 10,523 | 10,591 | 10,591 | ||||||||||||
Employee compensation-related shares (including | ||||||||||||||||||
stock options) and warrants | 67 | - | 41 | - | 29 | - | ||||||||||||
Total average equivalent shares | 10,289 | 10,222 | 10,564 | 10,523 | 10,620 | 10,591 | ||||||||||||
Per-share amounts | ||||||||||||||||||
Earnings from continuing operations | $ | 1.47 | $ | 1.48 | $ | 1.38 | $ | 1.39 | $ | 1.23 | $ | 1.23 | ||||||
Earnings (loss) from discontinued operations | -0.21 | -0.21 | -0.09 | -0.09 | - | - | ||||||||||||
Net earnings | 1.27 | 1.28 | 1.29 | 1.29 | 1.23 | 1.24 | ||||||||||||
Our unvested restricted stock unit awards that contain non-forfeitable rights to dividends or dividend equivalents are considered participating securities and, therefore, are included in the computation of earnings per share pursuant to the two-class method. Application of this treatment has an insignificant effect. | ||||||||||||||||||
(a) Included an insignificant amount of dividend equivalents in each of the three years presented. | ||||||||||||||||||
(b) Included in 2013 is a dilutive adjustment for the change in income for forward purchase contracts that may be settled in stock. | ||||||||||||||||||
(c) Included $806 million related to the redemption of our 10% cumulative preferred stock in 2011. See Note 15. | ||||||||||||||||||
For the years ended December 31, 2013, 2012 and 2011, there were approximately 121 million, 292 million and 321 million, respectively, of outstanding stock awards that were not included in the computation of diluted earnings per share because their effect was antidilutive. | ||||||||||||||||||
Earnings-per-share amounts are computed independently for earnings from continuing operations, earnings (loss) from discontinued operations and net earnings. As a result, the sum of per-share amounts from continuing operations and discontinued operations may not equal the total per-share amounts for net earnings. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||||||||||||
Fair Value Measurements | ' | |||||||||||||||||||||||||||||||
NOTE 21. FAIR VALUE MEASUREMENTS | ||||||||||||||||||||||||||||||||
For a description of how we estimate fair value, see Note 1. | ||||||||||||||||||||||||||||||||
The following tables present our assets and liabilities measured at fair value on a recurring basis. Included in the tables are investment securities primarily supporting obligations to annuitants and policyholders in our run-off insurance operations and supporting obligations to holders of GICs in Trinity and investment securities held in our CLL business collateralized by senior secured loans of high-quality, middle-market companies in a variety of industries. | ||||||||||||||||||||||||||||||||
Netting | ||||||||||||||||||||||||||||||||
(In millions) | Level 1 | (a) | Level 2 | (a) | Level 3 | adjustment | (b) | Net balance | ||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||
Investment securities | ||||||||||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||||||||||
U.S. corporate | $ | - | $ | 18,788 | $ | 2,953 | $ | - | $ | 21,741 | ||||||||||||||||||||||
State and municipal | - | 4,193 | 96 | - | 4,289 | |||||||||||||||||||||||||||
Residential mortgage-backed | - | 1,824 | 86 | - | 1,910 | |||||||||||||||||||||||||||
Commercial mortgage-backed | - | 3,025 | 10 | - | 3,035 | |||||||||||||||||||||||||||
Asset-backed(c) | - | 489 | 6,898 | - | 7,387 | |||||||||||||||||||||||||||
Corporate – non-U.S. | 61 | 645 | 1,064 | - | 1,770 | |||||||||||||||||||||||||||
Government – non-U.S. | 1,590 | 789 | 31 | - | 2,410 | |||||||||||||||||||||||||||
U.S. government and federal | ||||||||||||||||||||||||||||||||
agency | - | 545 | 225 | - | 770 | |||||||||||||||||||||||||||
Retained interests | - | - | 72 | - | 72 | |||||||||||||||||||||||||||
Equity | ||||||||||||||||||||||||||||||||
Available-for-sale | 475 | 31 | 11 | - | 517 | |||||||||||||||||||||||||||
Trading | 78 | 2 | - | - | 80 | |||||||||||||||||||||||||||
Derivatives(d) | - | 8,304 | 175 | -6,739 | 1,740 | |||||||||||||||||||||||||||
Other(e) | - | - | 494 | - | 494 | |||||||||||||||||||||||||||
Total | $ | 2,204 | $ | 38,635 | $ | 12,115 | $ | -6,739 | $ | 46,215 | ||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||
Derivatives | $ | - | $ | 5,409 | $ | 20 | $ | -4,355 | $ | 1,074 | ||||||||||||||||||||||
Other(f) | - | 1,170 | - | - | 1,170 | |||||||||||||||||||||||||||
Total | $ | - | $ | 6,579 | $ | 20 | $ | -4,355 | $ | 2,244 | ||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||
Investment securities | ||||||||||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||||||||||
U.S. corporate | $ | - | $ | 20,580 | $ | 3,591 | $ | - | $ | 24,171 | ||||||||||||||||||||||
State and municipal | - | 4,469 | 77 | - | 4,546 | |||||||||||||||||||||||||||
Residential mortgage-backed | - | 2,162 | 100 | - | 2,262 | |||||||||||||||||||||||||||
Commercial mortgage-backed | - | 3,088 | 6 | - | 3,094 | |||||||||||||||||||||||||||
Asset-backed(c) | - | 715 | 5,023 | - | 5,738 | |||||||||||||||||||||||||||
Corporate – non-U.S. | 71 | 1,132 | 1,218 | - | 2,421 | |||||||||||||||||||||||||||
Government – non-U.S. | 702 | 1,019 | 42 | - | 1,763 | |||||||||||||||||||||||||||
U.S. government and federal | ||||||||||||||||||||||||||||||||
agency | - | 3,288 | 277 | - | 3,565 | |||||||||||||||||||||||||||
Retained interests | - | - | 83 | - | 83 | |||||||||||||||||||||||||||
Equity | ||||||||||||||||||||||||||||||||
Available-for-sale | 590 | 16 | 13 | - | 619 | |||||||||||||||||||||||||||
Trading | 248 | - | - | - | 248 | |||||||||||||||||||||||||||
Derivatives(d) | - | 11,432 | 434 | -7,926 | 3,940 | |||||||||||||||||||||||||||
Other(e) | 35 | - | 799 | - | 834 | |||||||||||||||||||||||||||
Total | $ | 1,646 | $ | 47,901 | $ | 11,663 | $ | -7,926 | $ | 53,284 | ||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||
Derivatives | $ | - | $ | 3,434 | $ | 20 | $ | -3,177 | $ | 277 | ||||||||||||||||||||||
Other(f) | - | 908 | - | - | 908 | |||||||||||||||||||||||||||
Total | $ | - | $ | 4,342 | $ | 20 | $ | -3,177 | $ | 1,185 | ||||||||||||||||||||||
(a) The fair value of securities transferred between Level 1 and Level 2 was $2 million during 2013. | ||||||||||||||||||||||||||||||||
(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) 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. | ||||||||||||||||||||||||||||||||
(d) The fair value of derivatives included an adjustment for non-performance risk. The cumulative adjustment was a gain (loss) of $(7) million and $(15) million at December 31, 2013 and 2012, respectively. See Note 22 for additional information on the composition of our derivative portfolio. | ||||||||||||||||||||||||||||||||
(e) Included private equity investments and loans designated under the fair value option. | ||||||||||||||||||||||||||||||||
(f) Primarily represented the liability associated with certain of our deferred incentive compensation plans. | ||||||||||||||||||||||||||||||||
The following tables present the changes in Level 3 instruments measured on a recurring basis for the years ended December 31, 2013 and 2012, respectively. 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 Year Ended December 31, 2013 | ||||||||||||||||||||||||||||||||
Net | ||||||||||||||||||||||||||||||||
(In millions) | change in | |||||||||||||||||||||||||||||||
Net realized/ | unrealized | |||||||||||||||||||||||||||||||
Net | unrealized | gains | ||||||||||||||||||||||||||||||
realized/ | gains (losses) | (losses) | ||||||||||||||||||||||||||||||
unrealized | included in | relating to | ||||||||||||||||||||||||||||||
Balance | gains | accumulated | Balance | instruments | ||||||||||||||||||||||||||||
at | (losses) | other | Transfers | Transfers | at | still held at | ||||||||||||||||||||||||||
January 1, | included | comprehensive | into | out of | December 31, | December 31, | ||||||||||||||||||||||||||
2013 | in earnings | (a) | income | Purchases | Sales | Settlements | Level 3 | (b) | Level 3 | (b) | 2013 | 2013 | (c) | |||||||||||||||||||
Investment securities | ||||||||||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||||||||||
U.S. corporate | $ | 3,591 | $ | -497 | $ | 135 | $ | 380 | $ | -424 | $ | -231 | $ | 108 | $ | -109 | $ | 2,953 | $ | - | ||||||||||||
State and municipal | 77 | - | -7 | 21 | - | -5 | 10 | - | 96 | - | ||||||||||||||||||||||
Residential | ||||||||||||||||||||||||||||||||
mortgage-backed | 100 | - | -5 | - | -2 | -7 | - | - | 86 | - | ||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||||
mortgage-backed | 6 | - | - | - | - | -6 | 10 | - | 10 | - | ||||||||||||||||||||||
Asset-backed | 5,023 | 5 | 32 | 2,632 | -4 | -795 | 12 | -7 | 6,898 | - | ||||||||||||||||||||||
Corporate – non-U.S. | 1,218 | -103 | 49 | 5,814 | -3 | -5,874 | 21 | -58 | 1,064 | - | ||||||||||||||||||||||
Government | ||||||||||||||||||||||||||||||||
– non-U.S. | 42 | 1 | -12 | - | - | - | - | - | 31 | - | ||||||||||||||||||||||
U.S. government and | ||||||||||||||||||||||||||||||||
federal agency | 277 | - | -52 | - | - | - | - | - | 225 | - | ||||||||||||||||||||||
Retained interests | 83 | 3 | 1 | 6 | - | -21 | - | - | 72 | - | ||||||||||||||||||||||
Equity | ||||||||||||||||||||||||||||||||
Available-for-sale | 13 | - | - | - | - | - | - | -2 | 11 | - | ||||||||||||||||||||||
Trading | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||
Derivatives(d)(e) | 416 | -66 | 2 | -2 | - | -226 | 37 | 3 | 164 | -30 | ||||||||||||||||||||||
Other | 799 | -68 | 12 | 538 | -779 | - | 4 | -12 | 494 | -102 | ||||||||||||||||||||||
Total | $ | 11,645 | $ | -725 | $ | 155 | $ | 9,389 | $ | -1,212 | $ | -7,165 | $ | 202 | $ | -185 | $ | 12,104 | $ | -132 | ||||||||||||
(a) Earnings effects are primarily included in the “GECC revenues from services” and “Interest and other financial charges” captions in the Statement of Earnings. | ||||||||||||||||||||||||||||||||
(b) Transfers in and out of Level 3 are considered to occur at the beginning of the period. Transfers out of Level 3 were a result of increased use of quotes from independent pricing vendors based on recent trading activity. | ||||||||||||||||||||||||||||||||
(c) Represented the amount of unrealized gains or losses for the period included in earnings. | ||||||||||||||||||||||||||||||||
(d) Represented derivative assets net of derivative liabilities and included cash accruals of $9 million not reflected in the fair value hierarchy table. | ||||||||||||||||||||||||||||||||
(e) 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 22. | ||||||||||||||||||||||||||||||||
Changes in Level 3 Instruments for the Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||
Net | ||||||||||||||||||||||||||||||||
(In millions) | change in | |||||||||||||||||||||||||||||||
Net realized/ | unrealized | |||||||||||||||||||||||||||||||
Net | unrealized | gains | ||||||||||||||||||||||||||||||
realized/ | gains (losses) | (losses) | ||||||||||||||||||||||||||||||
unrealized | included in | relating to | ||||||||||||||||||||||||||||||
Balance | gains | accumulated | Balance | instruments | ||||||||||||||||||||||||||||
at | (losses) | other | Transfers | Transfers | at | still held at | ||||||||||||||||||||||||||
January 1, | included | comprehensive | into | out of | December 31, | December 31, | ||||||||||||||||||||||||||
2012 | in earnings | (a) | income | Purchases | Sales | Settlements | Level 3 | (b) | Level 3 | (b) | 2012 | 2012 | (c) | |||||||||||||||||||
Investment securities | ||||||||||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||||||||||
U.S. corporate | $ | 3,235 | $ | 66 | $ | 32 | $ | 483 | $ | -214 | $ | -110 | $ | 299 | $ | -200 | $ | 3,591 | $ | - | ||||||||||||
State and municipal | 77 | - | 10 | 16 | - | -1 | 78 | -103 | 77 | - | ||||||||||||||||||||||
Residential | ||||||||||||||||||||||||||||||||
mortgage-backed | 41 | -3 | 1 | 6 | - | -3 | 135 | -77 | 100 | - | ||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||||
mortgage-backed | 4 | - | -1 | - | - | - | 6 | -3 | 6 | - | ||||||||||||||||||||||
Asset-backed | 4,040 | 1 | -25 | 1,490 | -502 | - | 25 | -6 | 5,023 | - | ||||||||||||||||||||||
Corporate – non-U.S. | 1,204 | -11 | 19 | 341 | -51 | -172 | 24 | -136 | 1,218 | - | ||||||||||||||||||||||
Government | ||||||||||||||||||||||||||||||||
– non-U.S. | 84 | -33 | 38 | 65 | -72 | -40 | - | - | 42 | - | ||||||||||||||||||||||
U.S. government and | ||||||||||||||||||||||||||||||||
federal agency | 253 | - | 24 | - | - | - | - | - | 277 | - | ||||||||||||||||||||||
Retained interests | 35 | -1 | -3 | 16 | -6 | -12 | 54 | - | 83 | - | ||||||||||||||||||||||
Equity | ||||||||||||||||||||||||||||||||
Available-for-sale | 17 | - | -1 | 3 | -3 | -1 | 2 | -4 | 13 | - | ||||||||||||||||||||||
Trading | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||
Derivatives(d)(e) | 369 | 29 | -1 | -1 | - | -112 | 190 | -58 | 416 | 160 | ||||||||||||||||||||||
Other | 817 | 50 | 2 | 159 | -137 | - | - | -92 | 799 | 43 | ||||||||||||||||||||||
Total | $ | 10,176 | $ | 98 | $ | 95 | $ | 2,578 | $ | -985 | $ | -451 | $ | 813 | $ | -679 | $ | 11,645 | $ | 203 | ||||||||||||
(a) Earnings effects are primarily included in the “GECC revenues from services” and “Interest and other financial charges” captions in the Statement of Earnings. | ||||||||||||||||||||||||||||||||
(b) Transfers in and out of Level 3 are considered to occur at the beginning of the period. Transfers out of Level 3 were a result of increased use of quotes from independent pricing vendors based on recent trading activity. | ||||||||||||||||||||||||||||||||
(c) Represented the amount of unrealized gains or losses for the period included in earnings. | ||||||||||||||||||||||||||||||||
(d) Represented derivative assets net of derivative liabilities and included cash accruals of $2 million not reflected in the fair value hierarchy table. | ||||||||||||||||||||||||||||||||
(e) 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 22. | ||||||||||||||||||||||||||||||||
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 December 31, 2013 and 2012. These assets can include loans and long-lived assets that have been reduced to fair value when they are held for sale, impaired loans that have been reduced based on the fair value of the underlying collateral, cost and equity method investments and long-lived assets that are written down to fair value when they are impaired and the remeasurement of retained investments in formerly consolidated subsidiaries upon a change in control that results in deconsolidation of a subsidiary, if we sell a controlling interest and retain a noncontrolling stake in the entity. Assets that are written down to fair value when impaired and retained investments are not subsequently adjusted to fair value unless further impairment occurs. | ||||||||||||||||||||||||||||||||
Remeasured during the year ended December 31 | ||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||
(In millions) | Level 2 | Level 3 | Level 2 | Level 3 | ||||||||||||||||||||||||||||
Financing receivables and loans held for sale | $ | 210 | $ | 2,986 | $ | 366 | $ | 4,094 | ||||||||||||||||||||||||
Cost and equity method investments(a) | - | 690 | 8 | 313 | ||||||||||||||||||||||||||||
Long-lived assets, including real estate | 2,050 | 1,088 | 702 | 2,182 | ||||||||||||||||||||||||||||
Total | $ | 2,260 | $ | 4,764 | $ | 1,076 | $ | 6,589 | ||||||||||||||||||||||||
(a) Includes the fair value of private equity and real estate funds included in Level 3 of $126 million and $84 million at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||||||||||
The following table represents the fair value adjustments to assets measured at fair value on a non-recurring basis and still held at December 31, 2013 and 2012. | ||||||||||||||||||||||||||||||||
Year ended December 31 | ||||||||||||||||||||||||||||||||
(In millions) | 2013 | 2012 | ||||||||||||||||||||||||||||||
Financing receivables and loans held for sale | $ | -361 | $ | -595 | ||||||||||||||||||||||||||||
Cost and equity method investments(a) | -484 | -153 | ||||||||||||||||||||||||||||||
Long-lived assets, including real estate(b) | -1,188 | -624 | ||||||||||||||||||||||||||||||
Total | $ | -2,033 | $ | -1,372 | ||||||||||||||||||||||||||||
(a) Includes fair value adjustments associated with private equity and real estate funds of $(14) million and $(33) million during 2013 and 2012, respectively. | ||||||||||||||||||||||||||||||||
(b) Includes impairments related to real estate equity properties and investments recorded in other costs and expenses of $108 million and $218 million during 2013 and 2012, respectively. | ||||||||||||||||||||||||||||||||
Level 3 Measurements | ||||||||||||||||||||||||||||||||
The following table presents information relating to the significant unobservable inputs of our Level 3 recurring and non-recurring measurements. | ||||||||||||||||||||||||||||||||
Valuation | Unobservable | Range (weighted | ||||||||||||||||||||||||||||||
(Dollars in millions) | Fair value | technique | inputs | average) | ||||||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||||||
Recurring fair value measurements | ||||||||||||||||||||||||||||||||
Investment securities | ||||||||||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||||||||||
U.S. corporate | $ | 898 | Income approach | Discount rate(a) | 1.5%-13.3% (6.5%) | |||||||||||||||||||||||||||
Asset-backed | 6,854 | Income approach | Discount rate(a) | 1.2%-10.5% (3.7%) | ||||||||||||||||||||||||||||
Corporate – non-U.S. | 819 | Income approach | Discount rate(a) | 1.4%-46.0% (15.1%) | ||||||||||||||||||||||||||||
Other financial assets | 381 | Income approach, Market comparables | Weighted average cost of capital | 9.3%-9.3% (9.3%) | ||||||||||||||||||||||||||||
EBITDA multiple | 5.4X-12.5X (9.5X) | |||||||||||||||||||||||||||||||
Discount rate(a) | 5.2%-8.8% (5.3%) | |||||||||||||||||||||||||||||||
Capitalization rate(b) | 6.3%-7.5% (7.2%) | |||||||||||||||||||||||||||||||
Non-recurring fair value measurements | ||||||||||||||||||||||||||||||||
Financing receivables and loans held for sale | $ | 1,937 | Income approach, Business enterprise value | Capitalization rate(b) | 5.5%-16.7% (8.0%) | |||||||||||||||||||||||||||
EBITDA multiple | 4.3X-5.5X (4.8X) | |||||||||||||||||||||||||||||||
Discount rate(a) | 6.6%-6.6% (6.6%) | |||||||||||||||||||||||||||||||
Cost and equity method investments | 102 | Income approach, Market comparables | Discount rate(a) | 5.7%-5.9% (5.8%) | ||||||||||||||||||||||||||||
Capitalization rate(b) | 8.5%-10.6% (10.0%) | |||||||||||||||||||||||||||||||
Weighted average cost of capital | 9.3%-9.6% (9.4%) | |||||||||||||||||||||||||||||||
EBITDA multiple | 7.1X-14.5X (11.3X) | |||||||||||||||||||||||||||||||
Revenue multiple | 2.2X-12.6X (9.4X) | |||||||||||||||||||||||||||||||
Long-lived assets, including real estate | 694 | Income approach | Capitalization rate(b) | 5.4%-14.5% (7.8%) | ||||||||||||||||||||||||||||
Discount rate(a) | 4.0%-23.0% (9.0%) | |||||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||
Recurring fair value measurements | ||||||||||||||||||||||||||||||||
Investment securities | ||||||||||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||||||||||
U.S. corporate | $ | 1,652 | Income approach | Discount rate(a) | 1.3%-29.9% (11.1%) | |||||||||||||||||||||||||||
Asset-backed | 4,977 | Income approach | Discount rate(a) | 2.1%-13.1% (3.8%) | ||||||||||||||||||||||||||||
Corporate – non-U.S. | 865 | Income approach | Discount rate(a) | 1.5%-25.0% (13.2%) | ||||||||||||||||||||||||||||
Other financial assets | 633 | Income approach, Market comparables | Weighted average cost of capital | 8.7%-10.2% (8.7%) | ||||||||||||||||||||||||||||
EBITDA multiple | 4.9X-10.6X (7.9X) | |||||||||||||||||||||||||||||||
Non-recurring fair value measurements | ||||||||||||||||||||||||||||||||
Financing receivables and loans held for sale | $ | 2,835 | Income approach, Business enterprise value | Capitalization rate(b) | 3.8%-14.0% (8.0%) | |||||||||||||||||||||||||||
EBITDA multiple | 2.0X-6.0X (4.8X) | |||||||||||||||||||||||||||||||
Cost and equity method investments | 72 | Income approach | Capitalization rate(b) | 9.2%-12.8% (12.0%) | ||||||||||||||||||||||||||||
Long-lived assets, including real estate | 985 | Income approach | Capitalization rate(b) | 4.8%-14.6% (7.3%) | ||||||||||||||||||||||||||||
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 December 31, 2013 and December 31, 2012, other Level 3 recurring fair value measurements of $2,816 million and $3,146 million, respectively, and non-recurring measurements of $1,460 million and $2,412 million, respectively, are valued using non-binding broker quotes or other third-party sources. For a description of our process to evaluate third-party pricing servicers, see Note 1. At December 31, 2013 and December 31, 2012, other recurring fair value measurements of $327 million and $370 million, respectively, and non-recurring fair value measurements of $571 million and $285 million, respectively, were individually insignificant and utilize a number of different unobservable inputs not subject to meaningful aggregation. |
Financial_Instruments
Financial Instruments | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Financial Instruments [Abstract] | ' | |||||||||||||||||
Financial Instruments | ' | |||||||||||||||||
NOTE 22. FINANCIAL INSTRUMENTS | ||||||||||||||||||
The following table provides information about the assets and liabilities not carried at fair value in our Statement of Financial Position. 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. | ||||||||||||||||||
2013 | 2012 | |||||||||||||||||
Assets (liabilities) | Assets (liabilities) | |||||||||||||||||
Carrying | Carrying | |||||||||||||||||
Notional | amount | Estimated | Notional | amount | Estimated | |||||||||||||
December 31 (In millions) | amount | (net) | fair value | amount | (net) | fair value | ||||||||||||
GE | ||||||||||||||||||
Assets | ||||||||||||||||||
Investments and notes | ||||||||||||||||||
receivable | $ | (a) | $ | 488 | $ | 512 | $ | (a) | $ | 222 | $ | 222 | ||||||
Liabilities | ||||||||||||||||||
Borrowings(b) | (a) | -13,356 | -13,707 | (a) | -17,469 | -18,619 | ||||||||||||
GECC | ||||||||||||||||||
Assets | ||||||||||||||||||
Loans | (a) | 226,293 | 230,792 | (a) | 235,888 | 238,254 | ||||||||||||
Other commercial mortgages | (a) | 2,270 | 2,281 | (a) | 2,222 | 2,249 | ||||||||||||
Loans held for sale | (a) | 512 | 512 | (a) | 1,180 | 1,181 | ||||||||||||
Other financial instruments(c) | (a) | 1,622 | 2,203 | (a) | 1,858 | 2,276 | ||||||||||||
Liabilities | ||||||||||||||||||
Borrowings and bank | ||||||||||||||||||
deposits(b)(d) | (a) | -371,062 | -386,823 | (a) | -397,039 | -414,264 | ||||||||||||
Investment contract benefits | (a) | -3,144 | -3,644 | (a) | -3,321 | -4,150 | ||||||||||||
Guaranteed investment | ||||||||||||||||||
contracts | (a) | -1,471 | -1,459 | (a) | -1,644 | -1,674 | ||||||||||||
Insurance – credit life(e) | 2,149 | -108 | -94 | 2,277 | -120 | -104 | ||||||||||||
(a) These financial instruments do not have notional amounts. | ||||||||||||||||||
(b) See Note 10. | ||||||||||||||||||
(c) Principally cost method investments. | ||||||||||||||||||
(d) Fair values exclude interest rate and currency derivatives designated as hedges of borrowings. Had they been included, the fair value of borrowings at December 31, 2013 and 2012 would have been reduced by $2,284 million and $7,937 million, respectively. | ||||||||||||||||||
(e) Net of reinsurance of $1,250 million and $2,000 million at December 31, 2013 and 2012, respectively. | ||||||||||||||||||
A description of how we estimate fair values follows. | ||||||||||||||||||
Loans | ||||||||||||||||||
Based on a discounted future cash flows methodology, using current market interest rate data adjusted for inherent credit risk or quoted market prices and recent transactions, if available. | ||||||||||||||||||
Borrowings and bank deposits | ||||||||||||||||||
Based on valuation methodologies using current market interest rate data that are comparable to market quotes adjusted for our non-performance risk. | ||||||||||||||||||
Investment contract benefits | ||||||||||||||||||
Based on expected future cash flows, discounted at currently offered rates for immediate annuity contracts or the income approach for single premium deferred annuities. | ||||||||||||||||||
Guaranteed investment contracts | ||||||||||||||||||
Based on valuation methodologies using current market interest rate data, adjusted for our non-performance risk. | ||||||||||||||||||
All other instruments | ||||||||||||||||||
Based on observable market transactions and/or valuation methodologies using current market interest rate data adjusted for inherent credit risk. | ||||||||||||||||||
Assets and liabilities that are reflected in the accompanying financial statements at fair value are not included in the above disclosures; such items include cash and equivalents, investment securities and derivative financial instruments. | ||||||||||||||||||
Additional information about certain categories in the table above follows. | ||||||||||||||||||
Insurance – credit life | ||||||||||||||||||
Certain insurance affiliates, primarily in Consumer, issue credit life insurance designed to pay the balance due on a loan if the borrower dies before the loan is repaid. As part of our overall risk management process, we cede to third parties a portion of this associated risk, but are not relieved of our primary obligation to policyholders. | ||||||||||||||||||
Loan Commitments | ||||||||||||||||||
Notional amount | ||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | ||||||||||||||||
Ordinary course of business lending commitments(a) | $ | 4,756 | $ | 3,708 | ||||||||||||||
Unused revolving credit lines(b) | ||||||||||||||||||
Commercial(c) | 16,570 | 17,929 | ||||||||||||||||
Consumer – principally credit cards | 290,662 | 271,211 | ||||||||||||||||
(a) Excluded investment commitments of $1,395 million and $1,276 million as of December 31, 2013 and 2012, respectively. | ||||||||||||||||||
(b) Excluded inventory financing arrangements, which may be withdrawn at our option, of $13,502 million and $12,813 million as of December 31, 2013 and 2012, respectively. | ||||||||||||||||||
(c) Included commitments of $11,629 million and $12,923 million as of December 31, 2013 and 2012, respectively, associated with secured financing arrangements that could have increased to a maximum of $14,590 million and $15,731 million at December 31, 2013 and 2012, 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 December 31, 2013, we were party to repurchase agreements totaling $126 million, which were reported in short-term borrowings on the financial statements. We have had no repurchase agreements that 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 December 31, 2013, we were party to reverse repurchase agreements totaling $20.8 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 $320,000 million, approximately 87%, or $277,000 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. | ||||||||||||||||||
The following table provides information about the fair value of our derivatives by contract type, separating those accounted for as hedges and those that are not. | ||||||||||||||||||
2013 | 2012 | |||||||||||||||||
Fair value | Fair value | |||||||||||||||||
December 31 (In millions) | Assets | Liabilities | Assets | Liabilities | ||||||||||||||
Derivatives accounted for as hedges | ||||||||||||||||||
Interest rate contracts | $ | 3,837 | $ | 1,989 | $ | 8,443 | $ | 719 | ||||||||||
Currency exchange contracts | 1,830 | 984 | 890 | 1,777 | ||||||||||||||
Other contracts | 1 | - | 1 | - | ||||||||||||||
5,668 | 2,973 | 9,334 | 2,496 | |||||||||||||||
Derivatives not accounted for as hedges | ||||||||||||||||||
Interest rate contracts | 270 | 169 | 452 | 195 | ||||||||||||||
Currency exchange contracts | 2,257 | 2,245 | 1,797 | 691 | ||||||||||||||
Other contracts | 284 | 42 | 283 | 72 | ||||||||||||||
2,811 | 2,456 | 2,532 | 958 | |||||||||||||||
Gross derivatives recognized in statement of | ||||||||||||||||||
financial position | ||||||||||||||||||
Gross derivatives | 8,479 | 5,429 | 11,866 | 3,454 | ||||||||||||||
Gross accrued interest | 1,227 | 241 | 1,683 | 14 | ||||||||||||||
9,706 | 5,670 | 13,549 | 3,468 | |||||||||||||||
Amounts offset in statement of financial position | ||||||||||||||||||
Netting adjustments(a) | -4,120 | -4,113 | -2,801 | -2,786 | ||||||||||||||
Cash collateral(b) | -2,619 | -242 | -5,125 | -391 | ||||||||||||||
-6,739 | -4,355 | -7,926 | -3,177 | |||||||||||||||
Net derivatives recognized in statement of | ||||||||||||||||||
financial position | ||||||||||||||||||
Net derivatives | 2,967 | 1,315 | 5,623 | 291 | ||||||||||||||
Amounts not offset in statement of | ||||||||||||||||||
financial position | ||||||||||||||||||
Securities held as collateral(c) | -1,962 | - | -5,227 | - | ||||||||||||||
Net amount | $ | 1,005 | $ | 1,315 | $ | 396 | $ | 291 | ||||||||||
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. | ||||||||||||||||||
(a) The netting of derivative receivables and payables is permitted when a legally enforceable master netting agreement exists. Amounts included fair value adjustments related to our own and counterparty non-performance risk. At December 31, 2013 and 2012, the cumulative adjustment for non-performance risk was a gain (loss) of $(7) million and $(15) million, respectively. | ||||||||||||||||||
(b) Excludes excess cash collateral received and posted of $160 million and $37 million at December 31, 2013, respectively, and $42 million and $10 million at December 31, 2012, respectively. | ||||||||||||||||||
(c) Excludes excess securities collateral received of $363 million and $359 million at December 31, 2013 and 2012, 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. The following table provides information about the earnings effects of our fair value hedging relationships for the years ended December 31, 2013 and 2012, respectively | ||||||||||||||||||
2013 | 2012 | |||||||||||||||||
(In millions) | Gain (loss) | Gain (loss) | Gain (loss) | Gain (loss) | ||||||||||||||
on hedging | on hedged | on hedging | on hedged | |||||||||||||||
derivatives | items | derivatives | items | |||||||||||||||
Interest rate contracts | $ | -5,258 | $ | 5,180 | $ | 708 | $ | -1,041 | ||||||||||
Currency exchange contracts | -7 | 6 | -68 | 98 | ||||||||||||||
Fair value hedges resulted in $(79) million and $(303) million of ineffectiveness in 2013 and 2012, respectively. In both 2013 and 2012, 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. | ||||||||||||||||||
The following table provides information about the amounts recorded in AOCI, as well as the gain (loss) recorded in earnings, primarily in GECC revenue from services, interest and other financial charges, and other costs and expenses, when reclassified out of AOCI, for the years ended December 31, 2013 and 2012, respectively. See Note 15 for additional information about reclassifications out of AOCI. | ||||||||||||||||||
Gain (loss) recognized | Gain (loss) reclassified from | |||||||||||||||||
in AOCI | AOCI into earnings | |||||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
Interest rate contracts | $ | -26 | $ | -158 | $ | -364 | $ | -499 | ||||||||||
Currency exchange contracts | 941 | 1,004 | 817 | 681 | ||||||||||||||
Commodity contracts | -6 | 6 | -5 | -5 | ||||||||||||||
Total | $ | 909 | $ | 852 | $ | 448 | $ | 177 | ||||||||||
The total pre-tax amount in AOCI related to cash flow hedges of forecasted transactions was a $251 million loss at December 31, 2013. We expect to transfer $208 million to earnings as an expense in the next 12 months contemporaneously with the earnings effects of the related forecasted transactions. In 2013, 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 December 31, 2013 and 2012, the maximum term of derivative instruments that hedge forecasted transactions was 19 years and 20 years, respectively. | ||||||||||||||||||
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 are both reflected in earnings each reporting period. These amounts are primarily reported in GECC revenues from services and totaled $0 million and $5 million for the years ended December 31, 2013 and 2012, respectively. | ||||||||||||||||||
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. 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. | ||||||||||||||||||
The following table provides information about the amounts recorded in AOCI for the years ended December 31, 2013 and 2012, as well as the gain (loss) recorded in GECC revenues from services when reclassified out of AOCI. | ||||||||||||||||||
Gain (loss) recognized | Gain (loss) reclassified | |||||||||||||||||
(In millions) | in CTA | from CTA | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||
Currency exchange contracts | $ | 2,322 | $ | -2,905 | $ | -1,525 | $ | 27 | ||||||||||
The amounts related to the change in the fair value of the forward points that are excluded from the measure of effectiveness were $(678) million and $(874) million for the years ended December 31, 2013 and 2012, respectively, and are 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. Losses for the year ended December 31, 2013 on derivatives not designated as hedges were $(449) million composed of amounts related to interest rate contracts of $(111) million, currency exchange contracts of $(595) million, and other derivatives of $257 million. These losses were more than offset by the earnings effects from the underlying items that were economically hedged. Losses for the year ended December 31, 2012 on derivatives not designated as hedges were $(90) million composed of amounts related to interest rate contracts of $(296) million, currency exchange contracts of $80 million, and other derivatives of $126 million. These losses were more than 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 $4,581 million, of which $2,619 million was cash and $1,962 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 $242 million at December 31, 2013. At December 31, 2013, our exposure to counterparties (including accrued interest), net of collateral we hold, was $871 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 $1,234 million at December 31, 2013. This excludes embedded derivatives. | ||||||||||||||||||
Variable_Interest_Entities
Variable Interest Entities | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Variable Interest Entities [Abstract] | ' | |||||||||||||||||
Variable Interest Entities | ' | |||||||||||||||||
NOTE 23. 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 2013 or 2012. | ||||||||||||||||||
In evaluating whether we have the power to direct the activities of a VIE that most significantly impact its economic performance, we consider the purpose for which the VIE was created, the importance of each of the activities in which it is engaged and our decision-making role, if any, in those activities that significantly determine the entity's economic performance as compared to other economic interest holders. This evaluation requires consideration of all facts and circumstances relevant to decision-making that affects the entity's future performance and the exercise of professional judgment in deciding which decision-making rights are most important. | ||||||||||||||||||
In determining whether we have the right to receive benefits or the obligation to absorb losses that could potentially be significant to the VIE, we evaluate all of our economic interests in the entity, regardless of form (debt, equity, management and servicing fees, and other contractual arrangements). This evaluation considers all relevant factors of the entity's design, including: the entity's capital structure, contractual rights to earnings (losses), subordination of our interests relative to those of other investors, contingent payments, as well as other contractual arrangements that have the potential to be economically significant. The evaluation of each of these factors in reaching a conclusion about the potential significance of our economic interests is a matter that requires the exercise of professional judgment. | ||||||||||||||||||
Consolidated Variable Interest Entities | ||||||||||||||||||
We consolidate VIEs because we have the power to direct the activities that significantly affect the VIEs 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 included 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 substantially 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 of $1,539 million of assets and $727 million of liabilities; (2) other entities that are involved in power generating and leasing activities of $762 million of assets and no liabilities; and (3) insurance entities that, among other lines of business, provide property and casualty and workers' compensation coverage for GE of $1,209 million of assets and $566 million of liabilities. | ||||||||||||||||||
The table below summarizes the assets and liabilities of consolidated VIEs described above. | ||||||||||||||||||
Consolidated Securitization Entities | ||||||||||||||||||
Credit | Trade | |||||||||||||||||
December 31 (In millions) | Trinity | (a) | cards | (b) | Equipment | (b) | receivables | Other | Total | |||||||||
2013 | ||||||||||||||||||
Assets(c) | ||||||||||||||||||
Financing | ||||||||||||||||||
receivables, net | $ | - | $ | 24,766 | $ | 12,928 | $ | 2,509 | $ | 2,044 | $ | 42,247 | ||||||
Investment securities | 2,786 | - | - | - | 1,044 | 3,830 | ||||||||||||
Other assets | 213 | 20 | 557 | - | 2,430 | 3,220 | ||||||||||||
Total | $ | 2,999 | $ | 24,786 | $ | 13,485 | $ | 2,509 | $ | 5,518 | $ | 49,297 | ||||||
Liabilities(c) | ||||||||||||||||||
Borrowings | $ | - | $ | - | $ | - | $ | - | $ | 598 | $ | 598 | ||||||
Non-recourse | ||||||||||||||||||
borrowings | - | 15,363 | 10,982 | 2,180 | 49 | 28,574 | ||||||||||||
Other liabilities | 1,482 | 228 | 248 | 25 | 1,351 | 3,334 | ||||||||||||
Total | $ | 1,482 | $ | 15,591 | $ | 11,230 | $ | 2,205 | $ | 1,998 | $ | 32,506 | ||||||
2012 | ||||||||||||||||||
Assets(c) | ||||||||||||||||||
Financing | ||||||||||||||||||
receivables, net | $ | - | $ | 24,169 | $ | 12,456 | $ | 2,339 | $ | 1,952 | $ | 40,916 | ||||||
Investment securities | 3,435 | - | - | - | 1,051 | 4,486 | ||||||||||||
Other assets | 217 | 29 | 360 | - | 2,428 | 3,034 | ||||||||||||
Total | $ | 3,652 | $ | 24,198 | $ | 12,816 | $ | 2,339 | $ | 5,431 | $ | 48,436 | ||||||
Liabilities(c) | ||||||||||||||||||
Borrowings | $ | - | $ | - | $ | - | $ | - | $ | 711 | $ | 711 | ||||||
Non-recourse | ||||||||||||||||||
borrowings | - | 17,208 | 9,811 | 2,050 | 54 | 29,123 | ||||||||||||
Other liabilities | 1,656 | 146 | 11 | 8 | 1,215 | 3,036 | ||||||||||||
Total | $ | 1,656 | $ | 17,354 | $ | 9,822 | $ | 2,058 | $ | 1,980 | $ | 32,870 | ||||||
(a) Excludes intercompany advances from GECC to Trinity, which are eliminated in consolidation of $1,837 million and $2,441 million at December 31, 2013 and 2012, respectively. | ||||||||||||||||||
(b) 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 December 31, 2013 and 2012, the amounts of commingled cash owed to the CSEs were $6,314 million and $6,225 million, respectively, and the amounts owed to GECC by CSEs were $5,540 million and $6,143 million, respectively. | ||||||||||||||||||
(c) Asset amounts exclude intercompany receivables for cash collected on behalf of these entities by GE 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. | ||||||||||||||||||
Total revenues from our consolidated VIEs were $7,540 million, $7,127 million and $6,326 million in 2013, 2012 and 2011, respectively. Related expenses consisted primarily of provisions for losses of $1,247 million, $1,171 million and $1,146 million in 2013, 2012 and 2011, respectively, and interest and other financial charges of $355 million, $541 million and $594 million in 2013, 2012 and 2011, 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 December 31, 2013 is an 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 ($6,996 million). Other significant unconsolidated VIEs include investments in real estate entities ($2,369 million), which generally consist of passive limited partnership investments in tax-advantaged, multi-family real estate and investments in various European real estate entities; and exposures to joint ventures that purchase factored receivables ($2,624 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. Our investments in unconsolidated VIEs at December 31, 2013 and December 31, 2012 follow. | ||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | ||||||||||||||||
Other assets and investment securities | $ | 9,129 | $ | 10,027 | ||||||||||||||
Financing receivables – net | 3,346 | 2,654 | ||||||||||||||||
Total investments | 12,475 | 12,681 | ||||||||||||||||
Contractual obligations to fund | ||||||||||||||||||
investments or guarantees | 2,741 | 2,608 | ||||||||||||||||
Revolving lines of credit | 31 | 41 | ||||||||||||||||
Total | $ | 15,247 | $ | 15,330 | ||||||||||||||
As previously reported, during 2012, Penske Truck Leasing Co., L.P. (PTL) effected a recapitalization and subsequently acquired third-party financing in order to repay outstanding debt owed to GECC. In the first quarter of 2013, PTL had repaid all outstanding debt owed and terminated its borrowing arrangement with GECC. During the second quarter of 2013, PTL ceased to be a VIE as a result of a principal in PTL retiring from the GE Board. Therefore, our investment in PTL ($899 million at December 31, 2013) is not reported in the December 31, 2013 balance in the table above. As co-issuer and co-guarantor of the $700 million of debt raised by the funding entity related to PTL, GECC reports this amount, which is also our loss exposure and excluded from the table above, as debt of GECC in its financial statements. GECC has been indemnified by the other limited partners of PTL for their proportionate share of the debt obligation. | ||||||||||||||||||
In addition to the entities included in the table above, we also hold passive investments in RMBS, CMBS and ABS 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. |
Commitments_and_Guarantees
Commitments and Guarantees | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||
Commitments and Guarantees | ' | ||||||||
NOTE 24. COMMITMENTS AND GUARANTEES | |||||||||
Commitments | |||||||||
In our Aviation segment, we had committed to provide financing assistance on $2,669 million of future customer acquisitions of aircraft equipped with our engines, including commitments made to airlines in 2013 for future sales under our GE90 and GEnx engine campaigns. The GECAS business of GE Capital had placed multiple-year orders for various Boeing, Airbus and other aircraft with list prices approximating $29,405 million and secondary orders with airlines for used aircraft of approximately $816 million at December 31, 2013. | |||||||||
Product Warranties | |||||||||
We provide for estimated product warranty expenses when we sell the related products. Because warranty estimates are forecasts that are based on the best available information – mostly historical claims experience – claims costs may differ from amounts provided. An analysis of changes in the liability for product warranties follows. | |||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||
Balance at January 1 | $ | 1,383 | $ | 1,507 | $ | 1,405 | |||
Current-year provisions | 745 | 611 | 866 | ||||||
Expenditures | -814 | -723 | -881 | ||||||
Other changes | 10 | -12 | 117 | ||||||
Balance at December 31 | $ | 1,324 | $ | 1,383 | $ | 1,507 | |||
Guarantees | |||||||||
Our guarantees are provided in the ordinary course of business. We underwrite these guarantees considering economic, liquidity and credit risk of the counterparty. We believe that the likelihood is remote that any such arrangements could have a significant adverse effect on our financial position, results of operations or liquidity. We record liabilities for guarantees at estimated fair value, generally the amount of the premium received, or if we do not receive a premium, the amount based on appraisal, observed market values or discounted cash flows. Any associated expected recoveries from third parties are recorded as other receivables, not netted against the liabilities. | |||||||||
At December 31, 2013, we were committed under the following guarantee arrangements beyond those provided on behalf of VIEs. See Note 23. | |||||||||
Credit Support. We have provided $2,775 million of credit support on behalf of certain customers or associated companies, predominantly joint ventures and partnerships, using arrangements such as standby letters of credit and performance guarantees. These arrangements enable these customers and associated companies to execute transactions or obtain desired financing arrangements with third parties. Should the customer or associated company fail to perform under the terms of the transaction or financing arrangement, we would be required to perform on their behalf. Under most such arrangements, our guarantee is secured, usually by the asset being purchased or financed, or possibly by certain other assets of the customer or associated company. The length of these credit support arrangements parallels the length of the related financing arrangements or transactions. The liability for such credit support was $36 million at December 31, 2013. | |||||||||
Indemnification Agreements. We have agreements that require us to fund up to $125 million at December 31, 2013 under residual value guarantees on a variety of leased equipment. Under most of our residual value guarantees, our commitment is secured by the leased asset. The liability for these indemnification agreements was $21 million at December 31, 2013. | |||||||||
At December 31, 2013, we also had $1,009 million of other indemnification commitments, substantially all of which relate to representations and warranties in sales of businesses or assets. | |||||||||
Contingent Consideration. These are agreements to provide additional consideration to a buyer or seller in a business combination if contractually specified conditions related to the acquisition or disposition are achieved. | |||||||||
Supplemental_Cash_Flows_Inform
Supplemental Cash Flows Information | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Supplemental Cash Flow Information [Abstract] | ' | ||||||||
Supplemental Cash Flows Information | ' | ||||||||
NOTE 25. SUPPLEMENTAL CASH FLOWS INFORMATION | |||||||||
Changes in operating assets and liabilities are net of acquisitions and dispositions of principal businesses. | |||||||||
Amounts reported in the “Proceeds from sales of discontinued operations” and “Proceeds from principal business dispositions” lines in the Statement of Cash Flows are net of cash disposed and included certain deal-related costs. Amounts reported in the “Net cash from (payments for) principal businesses purchased” line is net of cash acquired and included certain deal-related costs and debt assumed and immediately repaid in acquisitions. Amounts reported in the “Proceeds from sale of equity interest in NBCU LLC” line included certain deal-related costs. | |||||||||
Amounts reported in the “All other operating activities” line in the Statement of Cash Flows consist primarily of adjustments to current and noncurrent accruals, deferrals of costs and expenses and adjustments to assets. GECC had non-cash transactions related to foreclosed properties and repossessed assets totaling $482 million, $839 million and $859 million in 2013, 2012 and 2011, respectively. | |||||||||
Certain supplemental information related to GE and GECC cash flows is shown below. | |||||||||
For the years ended December 31 (In millions) | 2013 | 2012 | 2011 | ||||||
GE | |||||||||
Net dispositions (purchases) of GE shares for treasury | |||||||||
Open market purchases under share repurchase program | $ | -10,225 | $ | -5,005 | $ | -2,065 | |||
Other purchases | -91 | -110 | -100 | ||||||
Dispositions | 1,038 | 951 | 709 | ||||||
$ | -9,278 | $ | -4,164 | $ | -1,456 | ||||
GECC | |||||||||
All other operating activities | |||||||||
Amortization of intangible assets | $ | 425 | $ | 447 | $ | 562 | |||
Net realized losses on investment securities | 523 | 34 | 197 | ||||||
Cash collateral on derivative contracts | -2,271 | 2,900 | 1,247 | ||||||
Increase (decrease) in other liabilities | 2,334 | 560 | -1,344 | ||||||
Other | -912 | 1,477 | 2,465 | ||||||
$ | 99 | $ | 5,418 | $ | 3,127 | ||||
Net decrease (increase) in GECC financing receivables | |||||||||
Increase in loans to customers | $ | -311,860 | $ | -308,156 | $ | -322,270 | |||
Principal collections from customers - loans | 307,849 | 307,250 | 332,100 | ||||||
Investment in equipment for financing leases | -8,652 | -9,192 | -9,610 | ||||||
Principal collections from customers - financing leases | 9,646 | 10,976 | 12,431 | ||||||
Net change in credit card receivables | -8,058 | -8,030 | -6,243 | ||||||
Sales of financing receivables | 14,664 | 12,642 | 8,117 | ||||||
$ | 3,589 | $ | 5,490 | $ | 14,525 | ||||
All other investing activities | |||||||||
Purchases of investment securities | $ | -16,422 | $ | -15,666 | $ | -20,816 | |||
Dispositions and maturities of investment securities | 18,139 | 17,010 | 19,535 | ||||||
Decrease (increase) in other assets - investments | 1,089 | 4,338 | 2,672 | ||||||
Proceeds from sales of real estate properties | 10,680 | 3,381 | 3,152 | ||||||
Other | 1,486 | 2,731 | 3,190 | ||||||
$ | 14,972 | $ | 11,794 | $ | 7,733 | ||||
Newly issued debt (maturities longer than 90 days) | |||||||||
Short-term (91 to 365 days) | $ | 55 | $ | 59 | $ | 10 | |||
Long-term (longer than one year) | 44,833 | 55,782 | 43,257 | ||||||
$ | 44,888 | $ | 55,841 | $ | 43,267 | ||||
Repayments and other reductions (maturities | |||||||||
longer than 90 days) | |||||||||
Short-term (91 to 365 days) | $ | -52,553 | $ | -94,114 | $ | -81,918 | |||
Long-term (longer than one year) | -3,291 | -9,368 | -2,786 | ||||||
Principal payments - non-recourse, leveraged leases | -585 | -426 | -732 | ||||||
$ | -56,429 | $ | -103,908 | $ | -85,436 | ||||
All other financing activities | |||||||||
Proceeds from sales of investment contracts | $ | 491 | $ | 2,697 | $ | 4,396 | |||
Redemption of investment contracts | -980 | -5,515 | -6,230 | ||||||
Other | -420 | -49 | 42 | ||||||
$ | -909 | $ | -2,867 | $ | -1,792 |
Intercompany_Transactions
Intercompany Transactions | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Intercompany Transactions [Abstract] | ' | ||||||||
Intercompany Transactions | ' | ||||||||
NOTE 26. 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 $(5,088) million, $492 million and $4,690 million for 2013, $(8,542) million, $2,328 million and $6,703 million for 2012 and $(558) million, $(373) million and $903 million for 2011, respectively. Details of these eliminations are shown below. | |||||||||
For the years ended December 31 (In millions) | 2013 | 2012 | 2011 | ||||||
Cash from (used for) operating activities-continuing operations | |||||||||
Combined | $ | 34,125 | $ | 39,557 | $ | 32,669 | |||
GE customer receivables sold to GECC | 360 | -1,809 | -577 | ||||||
GECC dividends to GE | -5,985 | -6,426 | - | ||||||
Other reclassifications and eliminations | 537 | -307 | 19 | ||||||
$ | 29,037 | $ | 31,015 | $ | 32,111 | ||||
Cash from (used for) investing activities-continuing operations | |||||||||
Combined | $ | 28,182 | $ | 9,262 | $ | 21,540 | |||
GE customer receivables sold to GECC | 262 | 2,005 | 421 | ||||||
Other reclassifications and eliminations | 230 | 323 | -794 | ||||||
$ | 28,674 | $ | 11,590 | $ | 21,167 | ||||
Cash from (used for) financing activities-continuing operations | |||||||||
Combined | $ | -50,319 | $ | -57,758 | $ | -47,818 | |||
GE customer receivables sold to GECC | -622 | -196 | 156 | ||||||
GECC dividends to GE | 5,985 | 6,426 | - | ||||||
Other reclassifications and eliminations | -673 | 473 | 747 | ||||||
$ | -45,629 | $ | -51,055 | $ | -46,915 | ||||
Operating_Segments
Operating Segments | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||||
Operating Segments | ' | ||||||||||||||||||||||||||
NOTE 27. OPERATING SEGMENTS | |||||||||||||||||||||||||||
Basis for presentation | |||||||||||||||||||||||||||
Our operating businesses are organized based on the nature of markets and customers. Segment accounting policies are the same as described in Note 1. Segment results for our financial services businesses reflect the discrete tax effect of transactions. | |||||||||||||||||||||||||||
Results of our formerly consolidated subsidiary, NBCU, and our equity method investment in NBCU LLC, which we sold in the first quarter of 2013 are reported in the Corporate items and eliminations line on the Summary of Operating Segments. | |||||||||||||||||||||||||||
A description of our operating segments as of December 31, 2013, can be found below, and details of segment profit by operating segment can be found in the Summary of Operating Segments table in Part II, Item 7. “Management's Discussion and Analysis of Financial Condition and Results of Operations.” | |||||||||||||||||||||||||||
Power & Water | |||||||||||||||||||||||||||
Power plant products and services, including design, installation, operation and maintenance services are sold into global markets. Gas, steam and aeroderivative turbines, nuclear reactors, generators, combined cycle systems, controls and related services, including total asset optimization solutions, equipment upgrades and long-term maintenance service agreements are sold to power generation and other industrial customers. Renewable energy solutions include wind turbines. Water treatment services and equipment include specialty chemical treatment programs, water purification equipment, mobile treatment systems and desalination processes. | |||||||||||||||||||||||||||
Oil & Gas | |||||||||||||||||||||||||||
Oil & Gas supplies mission critical equipment for the global oil and gas industry, used in applications spanning the entire value chain from drilling and completion through production, liquefied natural gas (LNG) and pipeline compression, pipeline inspection, and including downstream processing in refineries and petrochemical plants. The business designs and manufactures surface and subsea drilling and production systems, equipment for floating production platforms, compressors, turbines, turboexpanders, high pressure reactors, industrial power generation and a broad portfolio of auxiliary equipment. | |||||||||||||||||||||||||||
Energy Management | |||||||||||||||||||||||||||
Energy Management is GE's electrification business. Global teams design leading technology solutions for the delivery, management, conversion and optimization of electrical power for customers across multiple energy-intensive industries. GE has invested in our Energy Management capabilities, with strategic acquisitions and joint ventures that enable GE to increase its offerings to the utility, industrial, renewables, oil and gas, marine, metals and mining industries. Plant automation hardware, software and embedded computing systems including controllers, embedded systems, advanced software, motion control, operator interfaces and industrial computers are also provided by Energy Management. | |||||||||||||||||||||||||||
Aviation | |||||||||||||||||||||||||||
Aviation products and services include jet engines, aerospace systems and equipment, replacement parts and repair and maintenance services for all categories of commercial aircraft; for a wide variety of military aircraft, including fighters, bombers, tankers and helicopters; for marine applications; and for executive and regional aircraft. Products and services are sold worldwide to airframe manufacturers, airlines and government agencies. | |||||||||||||||||||||||||||
Healthcare | |||||||||||||||||||||||||||
Healthcare products include diagnostic imaging systems such as Magnetic Resonance (MR), Computed Tomography (CT) and Positron Emission Tomography (PET) scanners, X-ray, nuclear imaging, digital mammography, and Molecular Imaging technologies. Healthcare-manufactured technologies include patient and resident monitoring, diagnostic cardiology, ultrasound, bone densitometry, anesthesiology and oxygen therapy, and neonatal and critical care devices. Related services include equipment monitoring and repair, information technologies and customer productivity services. Products also include diagnostic imaging agents used in medical scanning procedures, drug discovery, biopharmaceutical manufacturing and purification, and tools for protein and cellular analysis for pharmaceutical and academic research, including a pipeline of precision molecular diagnostics in development for neurology, cardiology and oncology applications. Products and services are sold worldwide to hospitals, medical facilities, pharmaceutical and biotechnology companies, and to the life science research market. | |||||||||||||||||||||||||||
Transportation | |||||||||||||||||||||||||||
Transportation is a global technology leader and supplier to the railroad, mining, marine and drilling industries. GE provides freight and passenger locomotives, diesel engines for rail, marine and stationary power applications, railway signaling and communications systems, underground mining equipment, motorized drive systems for mining trucks, information technology solutions, high-quality replacement parts and value added services. | |||||||||||||||||||||||||||
Appliances & Lighting | |||||||||||||||||||||||||||
Products include major appliances and related services for products such as refrigerators, freezers, electric and gas ranges, cooktops, dishwashers, clothes washers and dryers, microwave ovens, room air conditioners, residential water systems for filtration, softening and heating, and hybrid water heaters. These products are distributed both to retail outlets and direct to consumers, mainly for the replacement market, and to building contractors and distributors for new installations. Lighting products include a wide variety of lamps and lighting fixtures, including light-emitting diodes. Products and services are sold in North America and in global markets under various GE and private-label brands. | |||||||||||||||||||||||||||
GE Capital | |||||||||||||||||||||||||||
CLL has particular mid-market expertise, and primarily offers secured commercial loans, equipment financing and other financial services to companies across a wide range of industries including construction, retail, manufacturing, transportation, media, communications, technology and healthcare. Equipment financing activities include industrial, medical, fleet vehicles, corporate aircraft, construction, office imaging and many other equipment types. | |||||||||||||||||||||||||||
Consumer offers a full range of financial products including private-label credit cards; personal loans; bank cards; auto loans and leases; mortgages; debt consolidation; home equity loans; deposit and other savings products; and small and medium enterprise lending on a global basis. | |||||||||||||||||||||||||||
Real Estate offers a comprehensive range of capital and investment solutions and finances, with both equity and loan structures, the acquisition, refinancing and renovation of office buildings, apartment buildings, retail facilities, hotels and industrial properties. | |||||||||||||||||||||||||||
Energy Financial Services offers financial products to the global energy industry including structured equity, debt, leasing, partnership financing, product finance, and broad-based commercial finance. | |||||||||||||||||||||||||||
GECAS, our commercial aircraft financing and leasing business, offers a wide range of aircraft types and financing options, including operating leases and secured debt financing, and also provides productivity solutions including spare engine leasing, airport and airline consulting services, and spare parts financing and management. | |||||||||||||||||||||||||||
Revenues | |||||||||||||||||||||||||||
Total revenues(a) | Intersegment revenues(b) | External revenues | |||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||
Power & Water | $ | 24,724 | $ | 28,299 | $ | 25,675 | $ | 947 | $ | 1,119 | $ | 794 | $ | 23,777 | $ | 27,180 | $ | 24,881 | |||||||||
Oil & Gas | 16,975 | 15,241 | 13,608 | 360 | 314 | 302 | 16,615 | 14,927 | 13,306 | ||||||||||||||||||
Energy Management | 7,569 | 7,412 | 6,422 | 848 | 487 | 504 | 6,721 | 6,925 | 5,918 | ||||||||||||||||||
Aviation | 21,911 | 19,994 | 18,859 | 500 | 672 | 417 | 21,411 | 19,322 | 18,442 | ||||||||||||||||||
Healthcare | 18,200 | 18,290 | 18,083 | 14 | 37 | 65 | 18,186 | 18,253 | 18,018 | ||||||||||||||||||
Transportation | 5,885 | 5,608 | 4,885 | 12 | 11 | 33 | 5,873 | 5,597 | 4,852 | ||||||||||||||||||
Appliances & Lighting | 8,338 | 7,967 | 7,693 | 25 | 23 | 22 | 8,313 | 7,944 | 7,671 | ||||||||||||||||||
Total industrial | 103,602 | 102,811 | 95,225 | 2,706 | 2,663 | 2,137 | 100,896 | 100,148 | 93,088 | ||||||||||||||||||
GE Capital | 44,067 | 45,364 | 48,324 | 1,150 | 1,037 | 977 | 42,917 | 44,327 | 47,347 | ||||||||||||||||||
Corporate items | |||||||||||||||||||||||||||
and eliminations(c) | -1,624 | -1,491 | 2,993 | -3,856 | -3,700 | -3,114 | 2,232 | 2,209 | 6,107 | ||||||||||||||||||
Total | $ | 146,045 | $ | 146,684 | $ | 146,542 | $ | - | $ | - | $ | - | $ | 146,045 | $ | 146,684 | $ | 146,542 | |||||||||
(a) Revenues of GE businesses include income from sales of goods and services to customers and other income. | |||||||||||||||||||||||||||
(b) Sales from one component to another generally are priced at equivalent commercial selling prices. | |||||||||||||||||||||||||||
(c) Includes the results of NBCU (our formerly consolidated subsidiary) and our former equity method investment in NBCUniversal LLC. | |||||||||||||||||||||||||||
Revenues from customers located in the United States were $68,617 million, $70,466 million and $69,910 million in 2013, 2012 and 2011, respectively. Revenues from customers located outside the United States were $77,428 million, $76,218 million and $76,632 million in 2013, 2012 and 2011, respectively. | |||||||||||||||||||||||||||
Property, plant and | |||||||||||||||||||||||||||
Assets(a)(b) | equipment additions(c) | Depreciation and amortization | |||||||||||||||||||||||||
At December 31 | For the years ended December 31 | For the years ended December 31 | |||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||
Power & Water | $ | 29,526 | $ | 27,174 | $ | 27,074 | $ | 714 | $ | 661 | $ | 770 | $ | 668 | $ | 647 | $ | 605 | |||||||||
Oil & Gas | 26,181 | 20,099 | 18,855 | 1,185 | 467 | 904 | 479 | 426 | 434 | ||||||||||||||||||
Energy Management | 9,962 | 9,253 | 9,835 | 137 | 155 | 414 | 323 | 287 | 239 | ||||||||||||||||||
Aviation | 32,272 | 25,144 | 23,567 | 1,178 | 781 | 699 | 677 | 644 | 569 | ||||||||||||||||||
Healthcare | 27,956 | 28,458 | 27,981 | 316 | 322 | 378 | 861 | 879 | 869 | ||||||||||||||||||
Transportation | 4,472 | 4,389 | 2,633 | 282 | 724 | 193 | 167 | 90 | 88 | ||||||||||||||||||
Appliances & Lighting | 4,237 | 4,133 | 3,675 | 405 | 485 | 268 | 300 | 265 | 260 | ||||||||||||||||||
GE Capital | 516,829 | 539,351 | 584,643 | 9,978 | 11,879 | 9,871 | 7,738 | 7,348 | 7,480 | ||||||||||||||||||
Corporate items | |||||||||||||||||||||||||||
and eliminations(d) | 5,125 | 26,998 | 19,740 | 194 | -99 | 56 | 260 | 218 | 186 | ||||||||||||||||||
Total | $ | 656,560 | $ | 684,999 | $ | 718,003 | $ | 14,389 | $ | 15,375 | $ | 13,553 | $ | 11,473 | $ | 10,804 | $ | 10,730 | |||||||||
(a) Assets of discontinued operations, NBCU (our formerly consolidated subsidiary) and our former equity method investment in NBCUniversal LLC are included in Corporate items and eliminations for all periods presented. | |||||||||||||||||||||||||||
(b) Total assets of the Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Appliances & Lighting and GE Capital operating segments at December 31, 2013, include investment in and advances to associated companies of $507 million, $108 million, $788 million, $1,463 million, $576 million, $10 million, $388 million and $17,348 million, respectively. Investments in and advances to associated companies contributed approximately $(26) million, $18 million, $3 million, $4 million, $(48) million, $0 million, $40 million and $1,809 million to segment pre-tax income of Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Appliances & Lighting and GE Capital operating segments, respectively, for the year ended December 31, 2013. Aggregate summarized financial information for significant associated companies assuming a 100% ownership interest included: total assets of $98,658 million, primarily financing receivables of $46,655 million; total liabilities of $66,535 million, primarily debt of $40,030 million; revenues totaled $22,692 million; and net earnings totaled $2,431 million. | |||||||||||||||||||||||||||
(c) Additions to property, plant and equipment include amounts relating to principal businesses purchased. | |||||||||||||||||||||||||||
(d) Includes deferred income taxes that are presented as assets for purposes of our consolidating balance sheet presentation. | |||||||||||||||||||||||||||
Interest and other financial charges | Provision (benefit) for income taxes | ||||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||
GE Capital | $ | 9,267 | $ | 11,596 | $ | 13,760 | $ | -992 | $ | 521 | $ | 906 | |||||||||||||||
Corporate items and eliminations(a) | 849 | 811 | 662 | 1,668 | 2,013 | 4,839 | |||||||||||||||||||||
Total | $ | 10,116 | $ | 12,407 | $ | 14,422 | $ | 676 | $ | 2,534 | $ | 5,745 | |||||||||||||||
(a) Included amounts for Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Appliances & Lighting, for which our measure of segment profit excludes interest and other financial charges and income taxes. | |||||||||||||||||||||||||||
Property, plant and equipment – net associated with operations based in the United States were $28,657 million, $27,192 million and $25,974 million at year-end 2013, 2012 and 2011, respectively. Property, plant and equipment – net associated with operations based outside the United States were $40,170 million, $41,441 million and $38,573 million at year-end 2013, 2012 and 2011, respectively. |
Quarterly_Information_unaudite
Quarterly Information (unaudited) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Selected Quarterly Financial Information [Abstract] | ' | |||||||||||||||||||||||
Quarterly Information (unaudited) | ' | |||||||||||||||||||||||
NOTE 28. QUARTERLY INFORMATION (UNAUDITED) | ||||||||||||||||||||||||
First quarter | Second quarter | Third quarter | Fourth quarter | |||||||||||||||||||||
(In millions; per-share amounts in dollars) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||
Consolidated operations | ||||||||||||||||||||||||
Earnings from continuing operations | $ | 3,631 | $ | 3,257 | $ | 3,423 | $ | 3,681 | $ | 3,272 | $ | 3,460 | $ | 5,149 | $ | 4,449 | ||||||||
Earnings (loss) from discontinued | ||||||||||||||||||||||||
operations | -120 | -185 | -124 | -543 | -91 | 48 | -1,785 | -303 | ||||||||||||||||
Net earnings | 3,511 | 3,072 | 3,299 | 3,138 | 3,181 | 3,508 | 3,364 | 4,146 | ||||||||||||||||
Less net earnings attributable to | ||||||||||||||||||||||||
noncontrolling interests | -16 | 38 | 166 | 33 | -10 | 17 | 158 | 135 | ||||||||||||||||
Net earnings attributable to | ||||||||||||||||||||||||
the Company | $ | 3,527 | $ | 3,034 | $ | 3,133 | $ | 3,105 | $ | 3,191 | $ | 3,491 | $ | 3,206 | $ | 4,011 | ||||||||
Per-share amounts – earnings from | ||||||||||||||||||||||||
continuing operations | ||||||||||||||||||||||||
Diluted earnings per share | $ | 0.35 | $ | 0.3 | $ | 0.31 | $ | 0.34 | $ | 0.32 | $ | 0.33 | $ | 0.49 | $ | 0.41 | ||||||||
Basic earnings per share | 0.35 | 0.3 | 0.32 | 0.34 | 0.32 | 0.33 | 0.49 | 0.41 | ||||||||||||||||
Per-share amounts – earnings (loss) | ||||||||||||||||||||||||
from discontinued operations | ||||||||||||||||||||||||
Diluted earnings per share | -0.01 | -0.02 | -0.01 | -0.05 | -0.01 | - | -0.18 | -0.03 | ||||||||||||||||
Basic earnings per share | -0.01 | -0.02 | -0.01 | -0.05 | -0.01 | - | -0.18 | -0.03 | ||||||||||||||||
Per-share amounts – net earnings | ||||||||||||||||||||||||
Diluted earnings per share | 0.34 | 0.29 | 0.3 | 0.29 | 0.31 | 0.33 | 0.32 | 0.38 | ||||||||||||||||
Basic earnings per share | 0.34 | 0.29 | 0.3 | 0.29 | 0.31 | 0.33 | 0.32 | 0.38 | ||||||||||||||||
Selected data | ||||||||||||||||||||||||
GE | ||||||||||||||||||||||||
Sales of goods and services | $ | 22,303 | $ | 23,687 | $ | 24,623 | $ | 25,138 | $ | 25,262 | $ | 24,749 | $ | 28,826 | $ | 27,301 | ||||||||
Gross profit from sales | 4,867 | 5,653 | 6,007 | 5,800 | 5,691 | 6,025 | 6,819 | 8,341 | ||||||||||||||||
GECC | ||||||||||||||||||||||||
Total revenues | 11,468 | 11,267 | 10,916 | 11,285 | 10,606 | 11,207 | 11,077 | 11,605 | ||||||||||||||||
Earnings from continuing operations | ||||||||||||||||||||||||
attributable to the Company | 1,938 | 1,760 | 1,924 | 2,112 | 1,903 | 1,668 | 2,493 | 1,805 | ||||||||||||||||
For GE, gross profit from sales is sales of goods and services less costs of goods and services sold. | ||||||||||||||||||||||||
Earnings-per-share amounts are computed independently each quarter for earnings from continuing operations, earnings (loss) from discontinued operations and net earnings. As a result, the sum of each quarter's per-share amount may not equal the total per-share amount for the respective year; and the sum of per-share amounts from continuing operations and discontinued operations may not equal the total per-share amounts for net earnings for the respective quarters. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Consolidation, Policy | ' |
Consolidation | |
Our financial statements consolidate all of our affiliates – entities in which we have a controlling financial interest, most often because we hold a majority voting interest. To determine if we hold a controlling financial interest in an entity, we first evaluate if we are required to apply the variable interest entity (VIE) model to the entity, otherwise the entity is evaluated under the voting interest model. | |
Where we hold current or potential rights that give us the power to direct the activities of a VIE that most significantly impact the VIE's economic performance combined with a variable interest that gives us the right to receive potentially significant benefits or the obligation to absorb potentially significant losses, we have a controlling financial interest in that VIE. Rights held by others to remove the party with power over the VIE are not considered unless one party can exercise those rights unilaterally. When changes occur to the design of an entity, we reconsider whether it is subject to the VIE model. We continuously evaluate whether we have a controlling financial interest in a VIE. | |
We hold a controlling financial interest in other entities where we currently hold, directly or indirectly, more than 50% of the voting rights or where we exercise control through substantive participating rights or as a general partner. Where we are a general partner, we consider substantive removal rights held by other partners in determining if we hold a controlling financial interest. We reevaluate whether we have a controlling financial interest in these entities when our voting or substantive participating rights change. | |
Associated companies are unconsolidated VIEs and other entities in which we do not have a controlling financial interest, but over which we have significant influence, most often because we hold a voting interest of 20% to 50%. Associated companies are accounted for as equity method investments. Results of associated companies are presented on a one-line basis. Investments in, and advances to, associated companies are presented on a one-line basis in the caption “All other assets” in our Statement of Financial Position, net of allowance for losses, that represents our best estimate of probable losses inherent in such assets. | |
Organization, Consolidation and Presentation of Financial Statements Disclosure | ' |
Financial Statement Presentation | |
We have reclassified certain prior-year amounts to conform to the current-year's presentation. | |
Financial data and related measurements are presented in the following categories: | |
GE – This represents the adding together of all affiliates other than General Electric Capital Corporation (GECC), whose continuing operations are presented on a one-line basis, giving effect to the elimination of transactions among such affiliates. | |
GECC – This represents the adding together of all affiliates of GECC, giving effect to the elimination of transactions among such affiliates. | |
Consolidated – This represents the adding together of GE and GECC, giving effect to the elimination of transactions between GE and GECC. | |
Operating Segments – These comprise our eight businesses, focused on the broad markets they serve: Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Appliances & Lighting (formerly Home & Business Solutions) and GE Capital. Prior-period information has been reclassified to be consistent with how we managed our businesses in 2013. | |
Unless otherwise indicated, information in these notes to consolidated financial statements relates to continuing operations. Certain of our operations have been presented as discontinued. See Note 2. | |
The effects of translating to U.S. dollars the financial statements of non-U.S. affiliates whose functional currency is the local currency are included in shareowners' equity. Asset and liability accounts are translated at year-end exchange rates, while revenues and expenses are translated at average rates for the respective periods. | |
Preparing financial statements in conformity with U.S. GAAP requires us to make estimates based on assumptions about current, and for some estimates future, economic and market conditions (for example, unemployment, market liquidity, the real estate market, etc.), which affect reported amounts and related disclosures in our financial statements. Although our current estimates contemplate current conditions and how we expect them to change in the future, as appropriate, it is reasonably possible that in 2014 actual conditions could be worse than anticipated in those estimates, which could materially affect our results of operations and financial position. Among other effects, such changes could result in future impairments of investment securities, goodwill, intangibles and long-lived assets, incremental losses on financing receivables, establishment of valuation allowances on deferred tax assets and increased tax liabilities. | |
Sales Of Goods And Services Policy | ' |
Sales of Goods and Services | |
We record all sales of goods and services only when a firm sales agreement is in place, delivery has occurred or services have been rendered and collectibility of the fixed or determinable sales price is reasonably assured. | |
Arrangements for the sale of goods and services sometimes include multiple components. Most of our multiple component arrangements involve the sale of goods and services in the Healthcare segment. Our arrangements with multiple components usually involve an upfront deliverable of large machinery or equipment and future service deliverables such as installation, commissioning, training or the future delivery of ancillary products. In most cases, the relative values of the undelivered components are not significant to the overall arrangement and are typically delivered within three to six months after the core product has been delivered. In such agreements, selling price is determined for each component and any difference between the total of the separate selling prices and total contract consideration (i.e., discount) is allocated pro rata across each of the components in the arrangement. The value assigned to each component is objectively determined and obtained primarily from sources such as the separate selling price for that or a similar item or from competitor prices for similar items. If such evidence is not available, we use our best estimate of selling price, which is established consistent with the pricing strategy of the business and considers product configuration, geography, customer type, and other market specific factors. | |
Except for goods sold under long-term agreements, we recognize sales of goods under the provisions of U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin (SAB) 104, Revenue Recognition. We often sell consumer products and computer hardware and software products with a right of return. We use our accumulated experience to estimate and provide for such returns when we record the sale. In situations where arrangements include customer acceptance provisions based on seller or customer-specified objective criteria, we recognize revenue when we have reliably demonstrated that all specified acceptance criteria have been met or when formal acceptance occurs, respectively. In arrangements where we provide goods for trial and evaluation purposes, we only recognize revenue after customer acceptance occurs. Unless otherwise noted, we do not provide for anticipated losses before we record sales. | |
We recognize revenue on agreements for sales of goods and services under power generation unit and uprate contracts, nuclear fuel assemblies, larger oil drilling equipment projects, aeroderivative unit contracts, military development contracts, locomotive production contracts, and long-term construction projects, using long-term construction and production contract accounting. We estimate total long-term contract revenue net of price concessions as well as total contract costs. For goods sold under power generation unit and uprate contracts, nuclear fuel assemblies, aeroderivative unit contracts, military development contracts and locomotive production contracts, we recognize sales as we complete major contract-specified deliverables, most often when customers receive title to the goods or accept the services as performed. For larger oil drilling equipment projects and long-term construction projects, we recognize sales based on our progress toward contract completion measured by actual costs incurred in relation to our estimate of total expected costs. We measure long-term contract revenues by applying our contract-specific estimated margin rates to incurred costs. We routinely update our estimates of future costs for agreements in process and report any cumulative effects of such adjustments in current operations. We provide for any loss that we expect to incur on these agreements when that loss is probable. | |
We recognize revenue upon delivery for sales of aircraft engines, military propulsion equipment and related spare parts not sold under long-term product services agreements. Delivery of commercial engines, non-U.S. military equipment and all related spare parts occurs on shipment; delivery of military propulsion equipment sold to the U.S. government or agencies thereof occurs upon receipt of a Material Inspection and Receiving Report, DD Form 250 or Memorandum of Shipment. Commercial aircraft engines are complex equipment manufactured to customer order under a variety of sometimes complex, long-term agreements. We measure sales of commercial aircraft engines by applying our contract-specific estimated margin rates to incurred costs. We routinely update our estimates of future revenues and costs for commercial aircraft engine agreements in process and report any cumulative effects of such adjustments in current operations. Significant components of our revenue and cost estimates include price concessions and performance-related guarantees as well as material, labor and overhead costs. We measure revenue for military propulsion equipment and spare parts not subject to long-term product services agreements based on the specific contract on a specifically measured output basis. We provide for any loss that we expect to incur on these agreements when that loss is probable; consistent with industry practice, for commercial aircraft engines, we make such provision only if such losses are not recoverable from future highly probable sales of spare parts and services for those engines. | |
We sell product services under long-term product maintenance or extended warranty agreements in our Aviation, Power & Water, Oil & Gas and Transportation segments, where costs of performing services are incurred on other than a straight-line basis. We also sell product services in our Healthcare segment, where such costs generally are expected to be on a straight-line basis. For the Aviation, Power & Water, Oil & Gas and Transportation agreements, we recognize related sales based on the extent of our progress toward completion measured by actual costs incurred in relation to total expected costs. We routinely update our estimates of future costs for agreements in process and report any cumulative effects of such adjustments in current operations. For the Healthcare agreements, we recognize revenues on a straight-line basis and expense related costs as incurred. We provide for any loss that we expect to incur on any of these agreements when that loss is probable. | |
Revenues from Services (Earned Income) | ' |
GECC Revenues from Services (Earned Income) | |
We use the interest method to recognize income on loans. Interest on loans includes origination, commitment and other non-refundable fees related to funding (recorded in earned income on the interest method). We stop accruing interest at the earlier of the time at which collection of an account becomes doubtful or the account becomes 90 days past due, with the exception of consumer credit card accounts. Beginning in the fourth quarter of 2013, we continue to accrue interest on consumer credit cards until the accounts are written off in the period the account becomes 180 days past due. Previously, we stopped accruing interest on consumer credit cards when the account became 90 days past due. Previously recognized interest income that was accrued but not collected from the borrower is reversed, unless the terms of the loan agreement permit capitalization of accrued interest to the principal balance. Although we stop accruing interest in advance of payments, we recognize interest income as cash is collected when appropriate, provided the amount does not exceed that which would have been earned at the historical effective interest rate; otherwise, payments received are applied to reduce the principal balance of the loan. | |
We resume accruing interest on nonaccrual, non-restructured commercial loans only when (a) payments are brought current according to the loan's original terms and (b) future payments are reasonably assured. When we agree to restructured terms with the borrower, we resume accruing interest only when it is reasonably assured that we will recover full contractual payments, and such loans pass underwriting reviews equivalent to those applied to new loans. We resume accruing interest on nonaccrual consumer loans when the customer's account is less than 90 days past due and collection of such amounts is probable. Interest accruals on modified consumer loans that are not considered to be troubled debt restructurings (TDRs) may return to current status (re-aged) only after receipt of at least three consecutive minimum monthly payments or the equivalent cumulative amount, subject to a re-aging limitation of once a year, or twice in a five-year period. | |
We recognize financing lease income on the interest method to produce a level yield on funds not yet recovered. Estimated unguaranteed residual values are based upon management's best estimates of the value of the leased asset at the end of the lease term. We use various sources of data in determining this estimate, including information obtained from third parties, which is adjusted for the attributes of the specific asset under lease. Guarantees of residual values by unrelated third parties are considered part of minimum lease payments. Significant assumptions we use in estimating residual values include estimated net cash flows over the remaining lease term, anticipated results of future remarketing, and estimated future component part and scrap metal prices, discounted at an appropriate rate. | |
We recognize operating lease income on a straight-line basis over the terms of underlying leases. | |
Fees include commitment fees related to loans that we do not expect to fund and line-of-credit fees. We record these fees in earned income on a straight-line basis over the period to which they relate. We record syndication fees in earned income at the time related services are performed, unless significant contingencies exist. | |
Depreciation and Amortization | ' |
Depreciation and Amortization | |
The cost of GE manufacturing plant and equipment is depreciated over its estimated economic life. U.S. assets are depreciated using an accelerated method based on a sum-of-the-years digits formula; non-U.S. assets are generally depreciated on a straight-line basis. | |
The cost of GECC equipment leased to others on operating leases is depreciated on a straight-line basis to estimated residual value over the lease term or over the estimated economic life of the equipment. | |
The cost of GECC acquired real estate investments is depreciated on a straight-line basis to the estimated salvage value over the expected useful life or the estimated proceeds upon sale of the investment at the end of the expected holding period if that approach produces a higher measure of depreciation expense. | |
The cost of individually significant customer relationships is amortized in proportion to estimated total related sales; cost of other intangible assets is generally amortized on a straight-line basis over the asset's estimated economic life. We review long-lived assets for impairment whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. See Notes 7 and 8. | |
Losses on Financing Receivables | ' |
Losses on Financing Receivables | |
Losses on financing receivables are recognized when they are incurred, which requires us to make our best estimate of probable losses inherent in the portfolio. The method for calculating the best estimate of losses depends on the size, type and risk characteristics of the related financing receivable. Such an estimate requires consideration of historical loss experience, adjusted for current conditions, and judgments about the probable effects of relevant observable data, including present economic conditions such as delinquency rates, financial health of specific customers and market sectors, collateral values (including housing price indices as applicable), and the present and expected future levels of interest rates. The underlying assumptions, estimates and assessments we use to provide for losses are updated periodically to reflect our view of current conditions and are subject to the regulatory examination process, which can result in changes to our assumptions. Changes in such estimates can significantly affect the allowance and provision for losses. It is possible that we will experience credit losses that are different from our current estimates. Write-offs are deducted from the allowance for losses when we judge the principal to be uncollectible and subsequent recoveries are added to the allowance at the time cash is received on a written-off account. | |
"Impaired" loans are defined as larger-balance or restructured loans for which it is probable that the lender will be unable to collect all amounts due according to the original contractual terms of the loan agreement. | |
“Troubled debt restructurings” (TDRs) are those loans for which we have granted a concession to a borrower experiencing financial difficulties where we do not receive adequate compensation. Such loans are classified as impaired, and are individually reviewed for specific reserves. | |
“Nonaccrual financing receivables” are those on which we have stopped accruing interest. We stop accruing interest at the earlier of the time at which collection of an account becomes doubtful or the account becomes 90 days past due, with the exception of consumer credit card accounts, for which we continue to accrue interest until the accounts are written off in the period that the account becomes 180 days past due. Although we stop accruing interest in advance of payments, we recognize interest income as cash is collected when appropriate provided the amount does not exceed that which would have been earned at the historical effective interest rate. Recently restructured financing receivables are not considered delinquent when payments are brought current according to the restructured terms, but may remain classified as nonaccrual until there has been a period of satisfactory payment performance by the borrower and future payments are reasonably assured of collection. | |
“Nonearning financing receivables” are a subset of nonaccrual financing receivables for which cash payments are not being received or for which we are on the cost recovery method of accounting (i.e., any payments are accounted for as a reduction of principal). This category excludes loans purchased at a discount (unless they have deteriorated post acquisition). These loans are initially recorded at fair value and accrete interest income over the estimated life of the loan based on reasonably estimable cash flows even if the underlying loans are contractually delinquent at acquisition. | |
Beginning in the fourth quarter of 2013, we revised our methods for classifying financing receivables as nonaccrual and nonearning to more closely align with regulatory guidance. Under the revised methods, we continue to accrue interest on consumer credit cards until the accounts are written off in the period the account becomes 180 days past due. Previously, we stopped accruing interest on consumer credit cards when the account became 90 days past due. In addition, the revised methods limit the use of the cash basis of accounting for nonaccrual financing receivables. | |
As a result of these revisions, consumer credit card receivables of $1,051 million that were previously classified as both nonaccrual and nonearning were returned to accrual status in the fourth quarter of 2013. In addition, $1,524 million of Real Estate and CLL financing receivables previously classified as nonaccrual, paying in accordance with contractual terms and accounted for on the cash basis, were returned to accrual status, while $2,174 million of financing receivables previously classified as nonaccrual and accounted for on the cash basis (primarily in Real Estate and CLL) were placed into the nonearning category based on our assessment of the short-term outlook for resolution through payoff or refinance. | |
Given that the revised methods result in nonaccrual and nonearning amounts that are substantially the same, we plan to discontinue the reporting of nonearning financing receivables, one of our internal performance metrics, and report selected ratios related to nonaccrual financing receivables, in the first quarter of 2014. | |
“Delinquent” receivables are those that are 30 days or more past due based on their contractual terms. | |
The same financing receivable may meet more than one of the definitions above. Accordingly, these categories are not mutually exclusive and it is possible for a particular loan to meet the definitions of a TDR, impaired loan, nonaccrual loan and nonearning loan and be included in each of these categories. The categorization of a particular loan also may not be indicative of the potential for loss. | |
Our consumer loan portfolio consists of smaller-balance, homogeneous loans, including credit card receivables, installment loans, auto loans and leases and residential mortgages. We collectively evaluate each portfolio for impairment quarterly. The allowance for losses on these receivables is established through a process that estimates the probable losses inherent in the portfolio based upon statistical analyses of portfolio data. These analyses include migration analysis, in which historical delinquency and credit loss experience is applied to the current aging of the portfolio, together with other analyses that reflect current trends and conditions. We also consider our historical loss experience to date based on actual defaulted loans and overall portfolio indicators including nonearning loans, trends in loan volume and lending terms, credit policies and other observable environmental factors such as unemployment rates and home price indices. | |
Our commercial loan and lease portfolio consists of a variety of loans and leases, including both larger-balance, non-homogeneous loans and leases and smaller-balance homogeneous loans and leases. Losses on such loans and leases are recorded when probable and estimable. We routinely evaluate our entire portfolio for potential specific credit or collection issues that might indicate an impairment. | |
For larger-balance, non-homogeneous loans and leases, we consider the financial status, payment history, collateral value, industry conditions and guarantor support related to specific customers. Any delinquencies or bankruptcies are indications of potential impairment requiring further assessment of collectibility. We routinely receive financial as well as rating agency reports on our customers, and we elevate for further attention those customers whose operations we judge to be marginal or deteriorating. We also elevate customers for further attention when we observe a decline in collateral values for asset-based loans. While collateral values are not always available, when we observe such a decline, we evaluate relevant markets to assess recovery alternatives – for example, for real estate loans, relevant markets are local; for commercial aircraft loans, relevant markets are global. | |
Measurement of the loss on our impaired commercial loans is based on the present value of expected future cash flows discounted at the loan's effective interest rate or the fair value of collateral, net of expected selling costs, if the loan is determined to be collateral dependent. We determine whether a loan is collateral dependent if the repayment of the loan is expected to be provided solely by the underlying collateral. Our review process can often result in reserves being established in advance of a modification of terms or designation as a TDR. After providing for specific incurred losses, we then determine an allowance for losses that have been incurred in the balance of the portfolio but cannot yet be identified to a specific loan or lease. This estimate is based upon various statistical analyses considering historical and projected default rates and loss severity and aging, as well as our view on current market and economic conditions. It is prepared by each respective line of business. For Real Estate, this includes assessing the probability of default and the loss given default based on loss history of our portfolio for loans with similar loan metrics and attributes. | |
We consider multiple factors in evaluating the adequacy of our allowance for losses on Real Estate financing receivables, including loan-to-value ratios, collateral values at the individual loan level, debt service coverage ratios, delinquency status, and economic factors including interest rate and real estate market forecasts. In addition to these factors, we evaluate a Real Estate loan for impairment classification if its projected loan-to-value ratio at maturity is in excess of 100%, even if the loan is currently paying in accordance with its contractual terms. Substantially all of the loans in the Real Estate portfolio are considered collateral dependent and are measured for impairment based on the fair value of collateral. If foreclosure is deemed probable or if repayment is dependent solely on the sale of collateral, we also include estimated selling costs in our reserve. Collateral values for our Real Estate loans are determined based upon internal cash flow estimates discounted at an appropriate rate and corroborated by external appraisals, as appropriate. Collateral valuations are routinely monitored and updated annually, or more frequently for changes in collateral, market and economic conditions. Further discussion on determination of fair value is in the Fair Value Measurements section below. | |
Experience is not available for new products; therefore, while we are developing that experience, we set loss allowances based on our experience with the most closely analogous products in our portfolio. | |
Our loss mitigation strategy intends 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 TDR. | |
We utilize certain loan modification programs for borrowers experiencing temporary financial difficulties in our Consumer loan portfolio. These loan modification programs are primarily concentrated in our non-U.S. residential mortgage and non-U.S. installment and revolving portfolios and include short-term (three months or less) interest rate reductions and payment deferrals, which were not part of the terms of the original contract. We sold our U.S. residential mortgage business in 2007 and, as such, do not participate in the U.S. government-sponsored mortgage modification programs. | |
Our allowance for losses on financing receivables on these modified consumer loans is determined based upon a formulaic approach that estimates the probable losses inherent in the portfolio based upon statistical analyses of the portfolio. Data related to redefault experience is also considered in our overall reserve adequacy review. Once the loan has been modified, it returns to current status (re-aged) only after receipt of at least three consecutive minimum monthly payments or the equivalent cumulative amount, subject to a re-aging limitation of once a year, or twice in a five-year period in accordance with the Federal Financial Institutions Examination Council guidelines on Uniform Retail Credit Classification and Account Management policy issued in June 2000. We believe that the allowance for losses would not be materially different had we not re-aged these accounts. | |
For commercial loans, we evaluate changes in terms and conditions to determine whether those changes meet the criteria for classification as a TDR on a loan-by-loan basis. In Commercial Lending and Leasing (CLL), these changes primarily include: changes to covenants, short-term payment deferrals and maturity extensions. For these changes, we receive economic consideration, including additional fees and/or increased interest rates, and evaluate them under our normal underwriting standards and criteria. Changes to Real Estate's loans primarily include maturity extensions, principal payment acceleration, changes to collateral terms, and cash sweeps, which are in addition to, or sometimes in lieu of, fees and rate increases. The determination of whether these changes to the terms and conditions of our commercial loans meet the TDR criteria includes our consideration of all of the relevant facts and circumstances. When the borrower is experiencing financial difficulty, we carefully evaluate these changes to determine whether they meet the form of a concession. In these circumstances, if the change is deemed to be a concession, we classify the loan as a TDR. | |
When we repossess collateral in satisfaction of a loan, we write down the receivable against the allowance for losses. Repossessed collateral is included in the caption “All other assets” in the Statement of Financial Position and carried at the lower of cost or estimated fair value less costs to sell. | |
For Consumer loans, we write off unsecured closed-end installment loans when they are 120 days contractually past due and unsecured open-ended revolving loans at 180 days contractually past due. We write down consumer loans secured by collateral other than residential real estate when such loans are 120 days past due. Consumer loans secured by residential real estate (both revolving and closed-end loans) are written down to the fair value of collateral, less costs to sell, no later than when they become 180 days past due. Unsecured consumer loans in bankruptcy are written off within 60 days of notification of filing by the bankruptcy court or within contractual write-off periods, whichever occurs earlier. | |
Write-offs on larger-balance impaired commercial loans are based on amounts deemed uncollectible and are reviewed quarterly. Write-offs are determined based on the consideration of many factors, such as expectations of the workout plan or restructuring of the loan, valuation of the collateral and the prioritization of our claim in bankruptcy. Write-offs are recognized against the allowance for losses at the earlier of transaction confirmation (for example, discounted pay-off, restructuring, foreclosure, etc.) or not later than 360 days after initial recognition of a specific reserve for a collateral dependent loan. If foreclosure is probable, the write-off is determined based on the fair value of the collateral less costs to sell. Smaller-balance, homogeneous commercial loans are written off at the earlier of when deemed uncollectible or at 180 days past due. | |
Partial Sales of Business Interests | ' |
Partial Sales of Business Interests | |
Gains or losses on sales of affiliate shares where we retain a controlling financial interest are recorded in equity. Gains or losses on sales that result in our loss of a controlling financial interest are recorded in earnings along with remeasurement gains or losses on any investments in the entity that we retained. | |
Cash and Equivalents | ' |
Cash and Equivalents | |
Debt securities and money market instruments with original maturities of three months or less are included in cash equivalents unless designated as available-for-sale and classified as investment securities. | |
Investment Securities | ' |
Investment Securities | |
We report investments in debt and marketable equity securities, and certain other equity securities, at fair value. See Note 21 for further information on fair value. Unrealized gains and losses on available-for-sale investment securities are included in shareowners' equity, net of applicable taxes and other adjustments. We regularly review investment securities for impairment using both quantitative and qualitative criteria. | |
For debt securities, if we do not intend to sell the security or it is not more likely than not that we will be required to sell the security before recovery of our amortized cost, we evaluate other qualitative criteria to determine whether we do not expect to recover the amortized cost basis of the security, such as the financial health of and specific prospects for the issuer, including whether the issuer is in compliance with the terms and covenants of the security. We also evaluate quantitative criteria including determining whether there has been an adverse change in expected future cash flows. If we do not expect to recover the entire amortized cost basis of the security, we consider the security to be other-than-temporarily impaired, and we record the difference between the security's amortized cost basis and its recoverable amount in earnings and the difference between the security's recoverable amount and fair value in other comprehensive income. If we intend to sell the security or it is more likely than not we will be required to sell the security before recovery of its amortized cost basis, the security is also considered other-than-temporarily impaired and we recognize the entire difference between the security's amortized cost basis and its fair value in earnings. For equity securities, we consider the length of time and magnitude of the amount that each security is in an unrealized loss position. If we do not expect to recover the entire amortized cost basis of the security, we consider the security to be other-than-temporarily impaired, and we record the difference between the security's amortized cost basis and its fair value in earnings. | |
Realized gains and losses are accounted for on the specific identification method. Unrealized gains and losses on investment securities classified as trading and certain retained interests are included in earnings. | |
Inventories | ' |
Inventories | |
All inventories are stated at the lower of cost or realizable values. Cost for a significant portion of GE U.S. inventories is determined on a last-in, first-out (LIFO) basis. Cost of other GE inventories is determined on a first-in, first-out (FIFO) basis. LIFO was used for 39% and 37% of GE inventories at December 31, 2013 and 2012, respectively. GECC inventories consist of finished products held for sale; cost is determined on a FIFO basis. | |
Intangible Assets | ' |
Goodwill and Other Intangible Assets | |
We do not amortize goodwill, but test it at least annually for impairment at the reporting unit level. A reporting unit is the operating segment, or one level below that operating segment (the component level) if discrete financial information is prepared and regularly reviewed by segment management. However, components are aggregated as a single reporting unit if they have similar economic characteristics. We recognize an impairment charge if the carrying amount of a reporting unit exceeds its fair value and the carrying amount of the reporting unit's goodwill exceeds the implied fair value of that goodwill. We use a market approach, when available and appropriate, or the income approach, or a combination of both to establish fair values. When a portion of a reporting unit is disposed, goodwill is allocated to the gain or loss on disposition based on the relative fair values of the business or businesses disposed and the portion of the reporting unit that will be retained. | |
We amortize the cost of other intangibles over their estimated useful lives unless such lives are deemed indefinite. The cost of intangible assets is generally amortized on a straight-line basis over the asset's estimated economic life, except that individually significant customer-related intangible assets are amortized in relation to total related sales. Amortizable intangible assets are tested for impairment based on undiscounted cash flows and, if impaired, written down to fair value based on either discounted cash flows or appraised values. Intangible assets with indefinite lives are tested annually for impairment and written down to fair value as required. | |
GECC Investment Contracts, Insurance Liabilities and Insurance Annuity Benefits | ' |
GECC Investment Contracts, Insurance Liabilities and Insurance Annuity Benefits | |
Certain entities that we consolidate provide guaranteed investment contracts, primarily to states, municipalities and municipal authorities. | |
Our insurance activities include providing insurance and reinsurance for life and health risks and providing certain annuity products. Two primary product groups are provided: traditional insurance contracts and investment contracts. Insurance contracts are contracts with significant mortality and/or morbidity risks, while investment contracts are contracts without such risks. | |
For short-duration insurance contracts, including accident and health insurance, we report premiums as earned income over the terms of the related agreements, generally on a pro-rata basis. For traditional long-duration insurance contracts including long-term care, term, whole life and annuities payable for the life of the annuitant, we report premiums as earned income when due. | |
Premiums received on investment contracts (including annuities without significant mortality risk) are not reported as revenues but rather as deposit liabilities. We recognize revenues for charges and assessments on these contracts, mostly for mortality, contract initiation, administration and surrender. Amounts credited to policyholder accounts are charged to expense. | |
Liabilities for traditional long-duration insurance contracts represent the present value of such benefits less the present value of future net premiums based on mortality, morbidity, interest and other assumptions at the time the policies were issued or acquired. Liabilities for investment contracts equal the account value, that is, the amount that accrues to the benefit of the contract or policyholder including credited interest and assessments through the financial statement date. For guaranteed investment contracts, the liability is also adjusted as a result of fair value hedging activity. | |
Liabilities for unpaid claims and estimated claim settlement expenses represent our best estimate of the ultimate obligations for reported and incurred-but-not-reported claims and the related estimated claim settlement expenses. Liabilities for unpaid claims and estimated claim settlement expenses are continually reviewed and adjusted through current operations. | |
Fair Value Measurements | ' |
Fair Value Measurements | |
For financial assets and liabilities measured at fair value on a recurring basis, fair value is the price we would receive to sell an asset or pay to transfer a liability in an orderly transaction with a market participant at the measurement date. In the absence of active markets for the identical assets or liabilities, such measurements involve developing assumptions 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 that occurs at the measurement date. | |
Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. Preference is given to observable inputs. These two types of inputs create the following fair value hierarchy: | |
Level 1 – Quoted prices for identical instruments in active markets. | |
Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. | |
Level 3 – Significant inputs to the valuation model are unobservable. | |
We maintain policies and procedures to value instruments using the best and most relevant data available. In addition, we have risk management teams that review valuation, including independent price validation for certain instruments. With regard to Level 3 valuations (including instruments valued by third parties), we perform a variety of procedures to assess the reasonableness of the valuations. Such reviews, which may be performed quarterly, monthly or weekly, include an evaluation of instruments whose fair value change exceeds predefined thresholds (and/or does not change) and consider the current interest rate, currency and credit environment, as well as other published data, such as rating agency market reports and current appraisals. These reviews are performed within each business by the asset and risk managers, pricing committees and valuation committees. A detailed review of methodologies and assumptions is performed by individuals independent of the business for individual measurements with a fair value exceeding predefined thresholds. This detailed review may include the use of a third-party valuation firm. | |
Recurring Fair Value Measurements | |
The following sections describe the valuation methodologies we use to measure different financial instruments at fair value on a recurring basis. | |
Investments in Debt and Equity Securities. When available, we use quoted market prices to determine the fair value of investment securities, and they are included in Level 1. Level 1 securities primarily include publicly traded equity securities. | |
For large numbers of investment securities for which market prices are observable for identical or similar investment securities but not readily accessible for each of those investments individually (that is, it is difficult to obtain pricing information for each individual investment security at the measurement date), we obtain pricing information from an independent pricing vendor. The pricing vendor uses various pricing models for each asset class that are consistent with what other market participants would use. The inputs and assumptions to the model of the pricing vendor are derived from market observable sources including: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, benchmark securities, bids, offers, and other market-related data. Since many fixed income securities do not trade on a daily basis, the methodology of the pricing vendor uses available information as applicable such as benchmark curves, benchmarking of like securities, sector groupings, and matrix pricing. The pricing vendor considers available market observable inputs in determining the evaluation for a security. Thus, certain securities may not be priced using quoted prices, but rather determined from market observable information. These investments are included in Level 2 and primarily comprise our portfolio of corporate fixed income, and government, mortgage and asset-backed securities. In infrequent circumstances, our pricing vendors may provide us with valuations that are based on significant unobservable inputs, and in those circumstances we classify the investment securities in Level 3. | |
Annually, we conduct reviews of our primary pricing vendor to validate that the inputs used in that vendor's pricing process are deemed to be market observable as defined in the standard. While we are not provided access to proprietary models of the vendor, our reviews have included on-site walk-throughs of the pricing process, methodologies and control procedures for each asset class and level for which prices are provided. Our reviews also include an examination of the underlying inputs and assumptions for a sample of individual securities across asset classes, credit rating levels and various durations, a process we perform each reporting period. In addition, the pricing vendor has an established challenge process in place for all security valuations, which facilitates identification and resolution of potentially erroneous prices. We believe that the prices received from our pricing vendor are representative of prices that would be received to sell the assets at the measurement date (exit prices) and are classified appropriately in the hierarchy. | |
We use non-binding broker quotes and other third-party pricing services as our primary basis for valuation when there is limited, or no, relevant market activity for a specific instrument or for other instruments that share similar characteristics. We have not adjusted the prices we have obtained. Investment securities priced using non-binding broker quotes and other third-party pricing services are included in Level 3. As is the case with our primary pricing vendor, third-party brokers and other third-party pricing services do not provide access to their proprietary valuation models, inputs and assumptions. Accordingly, our risk management personnel conduct reviews of vendors, as applicable, similar to the reviews performed of our primary pricing vendor. In addition, we conduct internal reviews of pricing for all such investment securities quarterly to ensure reasonableness of valuations used in our financial statements. These reviews are designed to identify prices that appear stale, those that have changed significantly from prior valuations, and other anomalies that may indicate that a price may not be accurate. Based on the information available, we believe that the fair values provided by the brokers and other third-party pricing services are representative of prices that would be received to sell the assets at the measurement date (exit prices). | |
Derivatives. We use closing prices for derivatives included in Level 1, which are traded either on exchanges or liquid over-the-counter markets. | |
The majority of our derivatives are valued using internal models. The models maximize the use of market observable inputs including interest rate curves and both forward and spot prices for currencies and commodities. Derivative assets and liabilities included in Level 2 primarily represent interest rate swaps, cross-currency swaps and foreign currency and commodity forward and option contracts. | |
Derivative assets and liabilities included in Level 3 primarily represent equity derivatives and interest rate products that contain embedded optionality or prepayment features. | |
Non-recurring Fair Value Measurements | |
Certain assets are measured at fair value on a non-recurring basis. These assets are not measured at fair value on an ongoing basis, but are subject to fair value adjustments only in certain circumstances. These assets can include loans and long-lived assets that have been reduced to fair value when they are held for sale, impaired loans that have been reduced based on the fair value of the underlying collateral, cost and equity method investments and long-lived assets that are written down to fair value when they are impaired and the remeasurement of retained investments in formerly consolidated subsidiaries upon a change in control that results in deconsolidation of a subsidiary, if we sell a controlling interest and retain a noncontrolling stake in the entity. Assets that are written down to fair value when impaired and retained investments are not subsequently adjusted to fair value unless further impairment occurs. | |
The following sections describe the valuation methodologies we use to measure financial and non-financial instruments accounted for at fair value on a non-recurring basis and for certain assets within our pension plans and retiree benefit plans at each reporting period, as applicable. | |
Financing Receivables and Loans Held for Sale. When available, we use observable market data, including pricing on recent closed market transactions, to value loans that are included in Level 2. When this data is unobservable, we use valuation methodologies using current market interest rate data adjusted for inherent credit risk, and such loans are included in Level 3. When appropriate, loans may be valued using collateral values (see Long-Lived Assets below). | |
Cost and Equity Method Investments. Cost and equity method investments are valued using market observable data such as quoted prices when available. When market observable data is unavailable, investments are valued using a discounted cash flow model, comparative market multiples or a combination of both approaches as appropriate and other third-party pricing sources. These investments are generally included in Level 3. | |
Investments in private equity, real estate and collective funds are valued using net asset values. The net asset values are determined based on the fair values of the underlying investments in the funds. Investments in private equity and real estate funds are generally included in Level 3 because they are not redeemable at the measurement date. Investments in collective funds are included in Level 2. | |
Long-lived Assets, including Real Estate. Fair values of long-lived assets, including aircraft and real estate, are primarily derived internally and are based on observed sales transactions for similar assets. In other instances, for example, collateral types for which we do not have comparable observed sales transaction data, collateral values are developed internally and corroborated by external appraisal information. Adjustments to third-party valuations may be performed in circumstances where market comparables are not specific to the attributes of the specific collateral or appraisal information may not be reflective of current market conditions due to the passage of time and the occurrence of market events since receipt of the information. For real estate, fair values are based on discounted cash flow estimates that reflect current and projected lease profiles and available industry information about capitalization rates and expected trends in rents and occupancy and are corroborated by external appraisals. These investments are generally included in Level 2 or Level 3. | |
Retained Investments in Formerly Consolidated Subsidiaries. Upon a change in control that results in deconsolidation of a subsidiary, the fair value measurement of our retained noncontrolling stake is valued using market observable data such as quoted prices when available, or if not available, an income approach, a market approach, or a combination of both approaches as appropriate. In applying these methodologies, we rely on a number of factors, including actual operating results, future business plans, economic projections, market observable pricing multiples of similar businesses and comparable transactions, and possible control premium. These investments are generally included in Level 1 or Level 3, as appropriate, determined at the time of the transaction. | |
Accounting Changes Policy | ' |
Accounting Changes | |
On January 1, 2012, we adopted Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) 2011-05, an amendment to Accounting Standards Codification (ASC) 220, Comprehensive Income. ASU 2011-05 introduced a new statement, the Consolidated Statement of Comprehensive Income. The amendments affect only the display of those components of equity categorized as other comprehensive income and do not change existing recognition and measurement requirements that determine net earnings. | |
On January 1, 2012, we adopted FASB ASU 2011-04, an amendment to ASC 820, Fair Value Measurements. ASU 2011-04 clarifies or changes the application of existing fair value measurements, including: that the highest and best use valuation premise in a fair value measurement is relevant only when measuring the fair value of nonfinancial assets; that a reporting entity should measure the fair value of its own equity instrument from the perspective of a market participant that holds that instrument as an asset; to permit an entity to measure the fair value of certain financial instruments on a net basis rather than based on its gross exposure when the reporting entity manages its financial instruments on the basis of such net exposure; that in the absence of a Level 1 input, a reporting entity should apply premiums and discounts when market participants would do so when pricing the asset or liability consistent with the unit of account; and that premiums and discounts related to size as a characteristic of the reporting entity's holding are not permitted in a fair value measurement. Adopting these amendments had no effect on the financial statements. | |
On January 1, 2011, we adopted FASB ASU 2009-13 and ASU 2009-14, amendments to ASC 605, Revenue Recognition and ASC 985, Software, respectively, (ASU 2009-13 &14). ASU 2009-13 requires the allocation of consideration to separate components of an arrangement based on the relative selling price of each component. ASU 2009-14 requires certain software-enabled products to be accounted for under the general accounting standards for multiple component arrangements. These amendments were effective for new revenue arrangements entered into or materially modified on or subsequent to January 1, 2011. | |
Although the adoption of these amendments eliminated the allocation of consideration using residual values, which was applied primarily in our Healthcare segment, the overall impact of adoption was insignificant to our financial statements. In addition, there are no significant changes to the number of components or the pattern and timing of revenue recognition following adoption. | |
On July 1, 2011, we adopted FASB ASU 2011-02, an amendment to ASC 310, Receivables. This ASU provides guidance for determining whether the restructuring of a debt constitutes a TDR and requires that such actions be classified as a TDR when there is both a concession and the debtor is experiencing financial difficulties. The amendment also clarifies guidance on a creditor's evaluation of whether it has granted a concession. The amendment applies to restructurings that have occurred subsequent to January 1, 2011. As a result of adopting these amendments on July 1, 2011, we have classified an additional $271 million of financing receivables as TDRs and have recorded an increase of $77 million to our allowance for losses on financing receivables. See Note 6. | |
Assets_and_Liabilities_of_Busi1
Assets and Liabilities of Businesses Held For Sale and Discontinued Operations (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | ||||||||||||
Discontinued Operations | ' | ||||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||||
Operations | |||||||||||||
Total revenues and other income (loss) | $ | 186 | $ | 191 | $ | 1,074 | |||||||
Earnings (loss) from discontinued operations | |||||||||||||
before income taxes | $ | -494 | $ | -586 | $ | -93 | |||||||
Benefit (provision) for income taxes | 155 | 198 | 100 | ||||||||||
Earnings (loss) from discontinued operations, | |||||||||||||
net of taxes | $ | -339 | $ | -388 | $ | 7 | |||||||
Disposal | |||||||||||||
Gain (loss) on disposal before income taxes | $ | -2,027 | $ | -792 | $ | -329 | |||||||
Benefit (provision) for income taxes | 246 | 197 | 351 | ||||||||||
Gain (loss) on disposal, net of taxes | $ | -1,781 | $ | -595 | $ | 22 | |||||||
Earnings (loss) from discontinued operations, | |||||||||||||
net of taxes(a) | $ | -2,120 | $ | -983 | $ | 29 | |||||||
(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 earnings (loss) from discontinued operations, net of taxes, on the Statement of Earnings. | |||||||||||||
December 31 (In millions) | 2013 | 2012 | |||||||||||
Assets | |||||||||||||
Cash and equivalents | $ | 232 | $ | 191 | |||||||||
Financing receivables - net | 711 | 793 | |||||||||||
Property, plant and equipment - net | 6 | 706 | |||||||||||
Other | 1,390 | 1,625 | |||||||||||
Assets of discontinued operations | $ | 2,339 | $ | 3,315 | |||||||||
Liabilities | |||||||||||||
Deferred income taxes | $ | 248 | $ | 372 | |||||||||
Other | 3,685 | 2,361 | |||||||||||
Liabilities of discontinued operations | $ | 3,933 | $ | 2,733 | |||||||||
Rollfoward of WMC's reserve and pending claims for WMC representation and warranty obligations | ' | ||||||||||||
Reserve | Pending claims | ||||||||||||
(In millions) | 2013 | 2012 | (In millions) | 2013 | 2012 | ||||||||
Balance at January 1 | $ | 633 | $ | 143 | Balance at January 1 | $ | 5,357 | $ | 705 | ||||
Provision | 354 | 500 | New claims | 1,259 | 4,838 | ||||||||
Claim resolutions/ rescissions | -187 | -10 | Claim resolutions/ rescissions | -973 | -186 | ||||||||
Balance at December 31 | $ | 800 | $ | 633 | Balance at December 31 | $ | 5,643 | $ | 5,357 | ||||
Investment_Securities_Tables
Investment Securities (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||
Investments | ' | |||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Gross | Gross | Gross | Gross | |||||||||||||||||||||
Amortized | unrealized | unrealized | Estimated | Amortized | unrealized | unrealized | Estimated | |||||||||||||||||
December 31 (In millions) | cost | gains | losses | fair value | cost | gains | losses | fair value | ||||||||||||||||
GE | ||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||
U.S. corporate | $ | 21 | $ | 14 | $ | - | $ | 35 | $ | 39 | $ | - | $ | - | $ | 39 | ||||||||
Corporate - non-U.S. | 13 | - | -1 | 12 | 6 | - | - | 6 | ||||||||||||||||
Equity | ||||||||||||||||||||||||
Available-for-sale | 302 | 9 | -41 | 270 | 26 | - | - | 26 | ||||||||||||||||
Trading | 6 | - | - | 6 | 3 | - | - | 3 | ||||||||||||||||
342 | 23 | -42 | 323 | 74 | - | - | 74 | |||||||||||||||||
GECC | ||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||
U.S. corporate | 19,600 | 2,323 | -217 | 21,706 | 20,233 | 4,201 | -302 | 24,132 | ||||||||||||||||
State and municipal | 4,245 | 235 | -191 | 4,289 | 4,084 | 575 | -113 | 4,546 | ||||||||||||||||
Residential mortgage- | ||||||||||||||||||||||||
backed(a) | 1,819 | 139 | -48 | 1,910 | 2,198 | 183 | -119 | 2,262 | ||||||||||||||||
Commercial mortgage- backed | 2,929 | 188 | -82 | 3,035 | 2,930 | 259 | -95 | 3,094 | ||||||||||||||||
Asset-backed | 7,373 | 60 | -46 | 7,387 | 5,784 | 31 | -77 | 5,738 | ||||||||||||||||
Corporate - non-U.S. | 1,741 | 103 | -86 | 1,758 | 2,391 | 150 | -126 | 2,415 | ||||||||||||||||
Government - non-U.S. | 2,336 | 81 | -7 | 2,410 | 1,617 | 149 | -3 | 1,763 | ||||||||||||||||
U.S. government and | ||||||||||||||||||||||||
federal agency | 752 | 45 | -27 | 770 | 3,462 | 103 | - | 3,565 | ||||||||||||||||
Retained interests | 64 | 8 | - | 72 | 76 | 7 | - | 83 | ||||||||||||||||
Equity | ||||||||||||||||||||||||
Available-for-sale | 203 | 51 | -3 | 251 | 513 | 86 | -3 | 596 | ||||||||||||||||
Trading | 74 | - | - | 74 | 245 | - | - | 245 | ||||||||||||||||
41,136 | 3,233 | -707 | 43,662 | 43,533 | 5,744 | -838 | 48,439 | |||||||||||||||||
Eliminations | -4 | - | - | -4 | -3 | - | - | -3 | ||||||||||||||||
Total | $ | 41,474 | $ | 3,256 | $ | -749 | $ | 43,981 | $ | 43,604 | $ | 5,744 | $ | -838 | $ | 48,510 | ||||||||
(a) Substantially collateralized by U.S. mortgages. Of our total RMBS portfolio at December 31, 2013, $1,224 million relates to securities issued by government-sponsored entities and $686 million relates 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 | ' | |||||||||||||||||||||||
In loss position for | ||||||||||||||||||||||||
Less than 12 months | 12 months or more | |||||||||||||||||||||||
Gross | Gross | |||||||||||||||||||||||
Estimated | unrealized | Estimated | unrealized | |||||||||||||||||||||
December 31 (In millions) | fair value | (a) | losses | (a)(b) | fair value | losses | (b) | |||||||||||||||||
2013 | ||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||
U.S. corporate | $ | 2,170 | $ | -122 | $ | 598 | $ | -95 | ||||||||||||||||
State and municipal | 1,076 | -82 | 367 | -109 | ||||||||||||||||||||
Residential mortgage-backed | 232 | -11 | 430 | -37 | ||||||||||||||||||||
Commercial mortgage-backed | 396 | -24 | 780 | -58 | ||||||||||||||||||||
Asset-backed | 112 | -2 | 359 | -44 | ||||||||||||||||||||
Corporate - non-U.S. | 108 | -4 | 454 | -83 | ||||||||||||||||||||
Government - non-U.S. | 1,479 | -6 | 42 | -1 | ||||||||||||||||||||
U.S. government and federal agency | 229 | -27 | 254 | - | ||||||||||||||||||||
Retained interests | 2 | - | - | - | ||||||||||||||||||||
Equity | 253 | -44 | - | - | ||||||||||||||||||||
Total | $ | 6,057 | $ | -322 | $ | 3,284 | $ | -427 | ||||||||||||||||
2012 | ||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||
U.S. corporate | $ | 434 | $ | -7 | $ | 813 | $ | -295 | ||||||||||||||||
State and municipal | 146 | -2 | 326 | -111 | ||||||||||||||||||||
Residential mortgage-backed | 98 | -1 | 691 | -118 | ||||||||||||||||||||
Commercial mortgage-backed | 37 | - | 979 | -95 | ||||||||||||||||||||
Asset-backed | 18 | -1 | 658 | -76 | ||||||||||||||||||||
Corporate - non-U.S. | 167 | -8 | 602 | -118 | ||||||||||||||||||||
Government - non-U.S. | 201 | -1 | 37 | -2 | ||||||||||||||||||||
U.S. government and federal agency | - | - | - | - | ||||||||||||||||||||
Retained interests | 3 | - | - | - | ||||||||||||||||||||
Equity | 26 | -3 | - | - | ||||||||||||||||||||
Total | $ | 1,130 | $ | -23 | $ | 4,106 | $ | -815 | ||||||||||||||||
The December 31, 2013 table includes the estimated fair value of and gross unrealized losses on Corporate-non-U.S. and Equity securities held by GE. The estimated fair value of and gross unrealized losses on Corporate-non-U.S. securities held by GE were $12 million and $(1) million, respectively. The estimated fair value of and gross unrealized losses on Equity securities held by GE were $222 million and $(41) million, respectively. | ||||||||||||||||||||||||
Includes gross unrealized losses at December 31, 2013 of $(99) million related to securities that had other-than-temporary impairments previously recognized. | ||||||||||||||||||||||||
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 | $ | 2,397 | $ | 2,417 | ||||||||||||||||||||
After one year through five years | 3,303 | 3,506 | ||||||||||||||||||||||
After five years through ten years | 4,984 | 5,156 | ||||||||||||||||||||||
After ten years | 18,024 | 19,901 | ||||||||||||||||||||||
Supplemental gross realized gains losses on available-for-sale investment securities | ' | |||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2011 | |||||||||||||||||||||
GE | ||||||||||||||||||||||||
Gains | $ | 1 | $ | - | $ | - | ||||||||||||||||||
Losses, including impairments | -20 | -1 | - | |||||||||||||||||||||
Net | -19 | -1 | - | |||||||||||||||||||||
GECC | ||||||||||||||||||||||||
Gains | 239 | 177 | 205 | |||||||||||||||||||||
Losses, including impairments | -762 | -211 | -402 | |||||||||||||||||||||
Net | -523 | -34 | -197 | |||||||||||||||||||||
Total | $ | -542 | $ | -35 | $ | -197 |
Current_Receivables_Tables
Current Receivables (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Accounts Receivable, Net, Current [Abstract] | ' | |||||||||||
Schedule of Current Receivables | ' | |||||||||||
Consolidated(a) | GE(b) | |||||||||||
December 31 (In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||
Power & Water | $ | 3,895 | $ | 2,977 | $ | 2,335 | $ | 1,700 | ||||
Oil & Gas | 5,444 | 4,656 | 3,134 | 1,872 | ||||||||
Energy Management | 1,540 | 1,600 | 686 | 800 | ||||||||
Aviation | 4,307 | 4,756 | 2,260 | 2,493 | ||||||||
Healthcare | 4,398 | 4,253 | 2,029 | 2,012 | ||||||||
Transportation | 526 | 485 | 318 | 324 | ||||||||
Appliances & Lighting | 1,337 | 1,286 | 273 | 186 | ||||||||
Corporate items & eliminations | 388 | 351 | 377 | 343 | ||||||||
21,835 | 20,364 | 11,412 | 9,730 | |||||||||
Less Allowance for Losses | -447 | -462 | -442 | -456 | ||||||||
Total | $ | 21,388 | $ | 19,902 | $ | 10,970 | $ | 9,274 | ||||
Included GE industrial customer receivables factored through a GECC affiliate and reported as financing receivables by GECC. See Note 26. | ||||||||||||
GE current receivables balances at December 31, 2013 and 2012, before allowance for losses, included $7,441 million and $6,283 million, respectively, from sales of goods and services to customers, and $37 million and $70 million at December 31, 2013 and 2012, respectively, from transactions with associated companies. | ||||||||||||
Inventories_Tables
Inventories (Tables) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Inventory, Net [Abstract] | ' | |||||
Inventories | ' | |||||
December 31 (In millions) | 2013 | 2012 | ||||
GE | ||||||
Raw materials and work in process | $ | 10,220 | $ | 9,295 | ||
Finished goods | 6,726 | 6,020 | ||||
Unbilled shipments | 584 | 378 | ||||
17,530 | 15,693 | |||||
Less revaluation to LIFO | -273 | -398 | ||||
17,257 | 15,295 | |||||
GECC | ||||||
Finished goods | 68 | 79 | ||||
Total | $ | 17,325 | $ | 15,374 |
GECC_Financing_Receivables_All1
GECC Financing Receivables, Allowance For Losses On Financing Receivables and Supplemental Information On Credit Quality (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Loans and Leases Receivable Disclosure [Abstract] | ' | ||||||||||||||||||||
GECC financing receivables | ' | ||||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | |||||||||||||||||||
Loans, net of deferred income(a) | $ | 231,268 | $ | 240,634 | |||||||||||||||||
Investment in financing leases, net of deferred income | 26,939 | 32,471 | |||||||||||||||||||
258,207 | 273,105 | ||||||||||||||||||||
Less allowance for losses | -5,178 | -4,944 | |||||||||||||||||||
Financing receivables - net(b) | $ | 253,029 | $ | 268,161 | |||||||||||||||||
Deferred income was $2,013 million and $2,184 million at December 31, 2013 and 2012, respectively. | |||||||||||||||||||||
Financing receivables at December 31, 2013 and 2012 included $544 million and $750 million, respectively, relating to loans that had been acquired in a transfer but have been subject to credit deterioration since origination. | |||||||||||||||||||||
Net Investment in Financing Leases | ' | ||||||||||||||||||||
Total financing leases | Direct financing leases(a) | Leveraged leases(b) | |||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||
Total minimum lease payments receivable | $ | 29,970 | $ | 36,451 | $ | 24,571 | $ | 29,416 | $ | 5,399 | $ | 7,035 | |||||||||
Less principal and interest on third-party | |||||||||||||||||||||
non-recourse debt | -3,480 | -4,662 | 0 | 0 | -3,480 | -4,662 | |||||||||||||||
Net rentals receivables | 26,490 | 31,789 | 24,571 | 29,416 | 1,919 | 2,373 | |||||||||||||||
Estimated unguaranteed residual value | |||||||||||||||||||||
of leased assets | 5,073 | 6,346 | 3,067 | 4,272 | 2,006 | 2,074 | |||||||||||||||
Less deferred income | -4,624 | -5,664 | -3,560 | -4,453 | -1,064 | -1,211 | |||||||||||||||
Investment in financing leases, net of | |||||||||||||||||||||
deferred income | 26,939 | 32,471 | 24,078 | 29,235 | 2,861 | 3,236 | |||||||||||||||
Less amounts to arrive at net investment | |||||||||||||||||||||
Allowance for losses | -202 | -198 | -192 | -193 | -10 | -5 | |||||||||||||||
Deferred taxes | -4,075 | -4,506 | -1,783 | -2,245 | -2,292 | -2,261 | |||||||||||||||
Net investment in financing leases | $ | 22,662 | $ | 27,767 | $ | 22,103 | $ | 26,797 | $ | 559 | $ | 970 | |||||||||
Included $317 million and $330 million of initial direct costs on direct financing leases at December 31, 2013 and 2012, respectively. | |||||||||||||||||||||
Included pre-tax income of $31 million and $81 million and income tax of $11 million and $32 million during 2013 and 2012, respectively. Net investment credits recognized on leveraged leases during 2013 and 2012 were insignificant. | |||||||||||||||||||||
Contractual Maturities | ' | ||||||||||||||||||||
Total | Net rentals | ||||||||||||||||||||
(In millions) | loans | receivable | |||||||||||||||||||
Due in | |||||||||||||||||||||
2014 | $ | 54,971 | $ | 8,184 | |||||||||||||||||
2015 | 19,270 | 6,114 | |||||||||||||||||||
2016 | 19,619 | 4,209 | |||||||||||||||||||
2017 | 17,281 | 2,733 | |||||||||||||||||||
2018 | 14,714 | 1,798 | |||||||||||||||||||
2019 and later | 43,121 | 3,452 | |||||||||||||||||||
168,976 | 26,490 | ||||||||||||||||||||
Consumer revolving loans | 62,292 | - | |||||||||||||||||||
Total | $ | 231,268 | $ | 26,490 | |||||||||||||||||
Financing receivables - net | ' | ||||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | |||||||||||||||||||
Commercial | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 68,585 | $ | 72,517 | |||||||||||||||||
Europe (a) | 37,962 | 37,037 | |||||||||||||||||||
Asia | 9,469 | 11,401 | |||||||||||||||||||
Other (a) | 451 | 603 | |||||||||||||||||||
Total CLL | 116,467 | 121,558 | |||||||||||||||||||
Energy Financial Services | 3,107 | 4,851 | |||||||||||||||||||
GE Capital Aviation Services (GECAS) | 9,377 | 10,915 | |||||||||||||||||||
Other | 318 | 486 | |||||||||||||||||||
Total Commercial | 129,269 | 137,810 | |||||||||||||||||||
Real Estate | 19,899 | 20,946 | |||||||||||||||||||
Consumer | |||||||||||||||||||||
Non-U.S. residential mortgages | 30,501 | 33,350 | |||||||||||||||||||
Non-U.S. installment and revolving credit | 13,677 | 17,816 | |||||||||||||||||||
U.S. installment and revolving credit | 55,854 | 50,853 | |||||||||||||||||||
Non-U.S. auto | 2,054 | 4,260 | |||||||||||||||||||
Other | 6,953 | 8,070 | |||||||||||||||||||
Total Consumer | 109,039 | 114,349 | |||||||||||||||||||
Total financing receivables | 258,207 | 273,105 | |||||||||||||||||||
Less allowance for losses | -5,178 | -4,944 | |||||||||||||||||||
Total financing receivables – net | $ | 253,029 | $ | 268,161 | |||||||||||||||||
During 2013, we transferred our European equipment services portfolio from CLL Other to CLL Europe. Prior-period amounts were reclassified to conform to the current period presentation. | |||||||||||||||||||||
Schedule of allowance for losses | ' | ||||||||||||||||||||
Balance at | Provision | Balance at | |||||||||||||||||||
January 1, | charged to | Gross | December 31, | ||||||||||||||||||
(In millions) | 2013 | operations | Other | (a) | write-offs | (b) | Recoveries | (b) | 2013 | ||||||||||||
Commercial | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 490 | $ | 292 | $ | -1 | $ | -422 | $ | 114 | $ | 473 | |||||||||
Europe | 445 | 321 | 12 | -441 | 78 | 415 | |||||||||||||||
Asia | 80 | 124 | -11 | -115 | 12 | 90 | |||||||||||||||
Other | 6 | -3 | - | -3 | - | - | |||||||||||||||
Total CLL | 1,021 | 734 | - | -981 | 204 | 978 | |||||||||||||||
Energy Financial | |||||||||||||||||||||
Services | 9 | -1 | - | - | - | 8 | |||||||||||||||
GECAS | 8 | 9 | - | - | - | 17 | |||||||||||||||
Other | 3 | -1 | - | -2 | 2 | 2 | |||||||||||||||
Total Commercial | 1,041 | 741 | - | -983 | 206 | 1,005 | |||||||||||||||
Real Estate | 320 | 28 | -4 | -163 | 11 | 192 | |||||||||||||||
Consumer | |||||||||||||||||||||
Non-U.S. residential mortgages | 480 | 269 | 10 | -458 | 57 | 358 | |||||||||||||||
Non-U.S. installment | |||||||||||||||||||||
and revolving credit | 582 | 589 | -93 | -967 | 483 | 594 | |||||||||||||||
U.S. installment and revolving credit | 2,282 | 3,006 | -51 | -2,954 | 540 | 2,823 | |||||||||||||||
Non-U.S. auto | 67 | 58 | -13 | -126 | 70 | 56 | |||||||||||||||
Other | 172 | 127 | 11 | -236 | 76 | 150 | |||||||||||||||
Total Consumer | 3,583 | 4,049 | -136 | -4,741 | 1,226 | 3,981 | |||||||||||||||
Total | $ | 4,944 | $ | 4,818 | $ | -140 | $ | -5,887 | $ | 1,443 | $ | 5,178 | |||||||||
Other primarily included dispositions 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. | |||||||||||||||||||||
Balance at | Provision | Balance at | |||||||||||||||||||
January 1, | charged to | Gross | December 31, | ||||||||||||||||||
(In millions) | 2012 | operations | Other | (a) | write-offs | (b) | Recoveries | (b) | 2012 | ||||||||||||
Commercial | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 889 | $ | 109 | $ | -51 | $ | -568 | $ | 111 | $ | 490 | |||||||||
Europe | 400 | 374 | -3 | -390 | 64 | 445 | |||||||||||||||
Asia | 157 | 37 | -3 | -134 | 23 | 80 | |||||||||||||||
Other | 4 | 13 | -1 | -10 | 0 | 6 | |||||||||||||||
Total CLL | 1,450 | 533 | -58 | -1,102 | 198 | 1,021 | |||||||||||||||
Energy Financial | |||||||||||||||||||||
Services | 26 | 4 | - | -24 | 3 | 9 | |||||||||||||||
GECAS | 17 | 4 | - | -13 | - | 8 | |||||||||||||||
Other | 37 | 1 | -20 | -17 | 2 | 3 | |||||||||||||||
Total Commercial | 1,530 | 542 | -78 | -1,156 | 203 | 1,041 | |||||||||||||||
Real Estate | 1,089 | 72 | -44 | -810 | 13 | 320 | |||||||||||||||
Consumer | |||||||||||||||||||||
Non-U.S. residential mortgages | 545 | 112 | 8 | -261 | 76 | 480 | |||||||||||||||
Non-U.S. installment | |||||||||||||||||||||
and revolving credit | 690 | 290 | 24 | -974 | 552 | 582 | |||||||||||||||
U.S. installment and revolving credit | 2,008 | 2,666 | -24 | -2,906 | 538 | 2,282 | |||||||||||||||
Non-U.S. auto | 101 | 18 | -4 | -146 | 98 | 67 | |||||||||||||||
Other | 199 | 132 | 18 | -257 | 80 | 172 | |||||||||||||||
Total Consumer | 3,543 | 3,218 | 22 | -4,544 | 1,344 | 3,583 | |||||||||||||||
Total | $ | 6,162 | $ | 3,832 | $ | -100 | $ | -6,510 | $ | 1,560 | $ | 4,944 | |||||||||
Other primarily included transfers to 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. | |||||||||||||||||||||
Balance at | Provision | Balance at | |||||||||||||||||||
January 1, | charged to | Gross | December 31, | ||||||||||||||||||
(In millions) | 2011 | operations | (a) | Other | (b) | write-offs | (c) | Recoveries | (c) | 2011 | |||||||||||
Commercial | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 1,288 | $ | 281 | $ | -96 | $ | -700 | $ | 116 | $ | 889 | |||||||||
Europe | 429 | 195 | -5 | -286 | 67 | 400 | |||||||||||||||
Asia | 222 | 105 | 13 | -214 | 31 | 157 | |||||||||||||||
Other | 6 | 3 | -3 | -2 | 0 | 4 | |||||||||||||||
Total CLL | 1,945 | 584 | -91 | -1,202 | 214 | 1,450 | |||||||||||||||
Energy Financial | |||||||||||||||||||||
Services | 22 | 0 | -1 | -4 | 9 | 26 | |||||||||||||||
GECAS | 20 | 0 | 0 | -3 | 0 | 17 | |||||||||||||||
Other | 58 | 23 | 0 | -47 | 3 | 37 | |||||||||||||||
Total Commercial | 2,045 | 607 | -92 | -1,256 | 226 | 1,530 | |||||||||||||||
Real Estate | 1,488 | 324 | 2 | -747 | 22 | 1,089 | |||||||||||||||
Consumer | |||||||||||||||||||||
Non-U.S. residential | |||||||||||||||||||||
mortgages | 688 | 116 | -13 | -295 | 49 | 545 | |||||||||||||||
Non-U.S. installment | |||||||||||||||||||||
and revolving credit | 898 | 470 | -29 | -1,198 | 549 | 690 | |||||||||||||||
U.S. installment and | |||||||||||||||||||||
revolving credit | 2,333 | 2,241 | 1 | -3,095 | 528 | 2,008 | |||||||||||||||
Non-U.S. auto | 168 | 30 | -4 | -216 | 123 | 101 | |||||||||||||||
Other | 259 | 142 | -20 | -272 | 90 | 199 | |||||||||||||||
Total Consumer | 4,346 | 2,999 | -65 | -5,076 | 1,339 | 3,543 | |||||||||||||||
Total | $ | 7,879 | $ | 3,930 | $ | -155 | $ | -7,079 | $ | 1,587 | $ | 6,162 | |||||||||
(a) Included a provision of $77 million at Consumer related to the July 1, 2011 adoption of ASU 2011-02. | |||||||||||||||||||||
(b) Other primarily included transfers to held-for-sale and the effects of currency exchange. | |||||||||||||||||||||
(c) 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. | |||||||||||||||||||||
Past Due Financing Receivables | ' | ||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Over 30 days | Over 90 days | Over 30 days | Over 90 days | ||||||||||||||||||
31-Dec | past due | past due(a) | past due | past due | |||||||||||||||||
Commercial | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | 1.1 | % | 0.5 | % | 1.1 | % | 0.5 | % | |||||||||||||
Europe | 3.8 | 2.1 | 3.7 | 2.1 | |||||||||||||||||
Asia | 0.5 | 0.3 | 0.9 | 0.6 | |||||||||||||||||
Other | - | - | 0.1 | - | |||||||||||||||||
Total CLL | 1.9 | 1 | 1.9 | 1 | |||||||||||||||||
Energy Financial Services | - | - | - | - | |||||||||||||||||
GECAS | - | - | - | - | |||||||||||||||||
Other | 0.1 | 0.1 | 2.8 | 2.8 | |||||||||||||||||
Total Commercial | 1.7 | 0.9 | 1.7 | 0.9 | |||||||||||||||||
Real Estate | 1.2 | 1.1 | 2.3 | 2.2 | |||||||||||||||||
Consumer | |||||||||||||||||||||
Non-U.S. residential mortgages(b) | 11.2 | 6.9 | 12 | 7.5 | |||||||||||||||||
Non-U.S. installment and revolving credit | 3.7 | 1.1 | 3.8 | 1.1 | |||||||||||||||||
U.S. installment and revolving credit | 4.4 | 2 | 4.6 | 2 | |||||||||||||||||
Non-U.S. auto | 4.4 | 0.7 | 3.1 | 0.5 | |||||||||||||||||
Other | 2.5 | 1.4 | 2.8 | 1.7 | |||||||||||||||||
Total Consumer | 6.1 | 3.2 | 6.5 | 3.4 | |||||||||||||||||
Total | 3.5 | % | 1.9 | % | 3.7 | % | 2.1 | % | |||||||||||||
Included $1,197 million of Consumer loans at December 31, 2013, 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. | |||||||||||||||||||||
Consumer loans secured by residential real estate (both revolving and closed-end loans) are written down to the fair value of collateral, less costs to sell, no later than when they become 180 days past due. | |||||||||||||||||||||
Nonaccrual Financing Receivables | ' | ||||||||||||||||||||
Nonaccrual financing | Nonearning financing | ||||||||||||||||||||
receivables(a) | receivables(a) | ||||||||||||||||||||
December 31 (Dollars in millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||
Commercial | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 1,275 | $ | 1,951 | $ | 1,243 | $ | 1,333 | |||||||||||||
Europe | 1,046 | 1,740 | 1,046 | 1,299 | |||||||||||||||||
Asia | 413 | 395 | 413 | 193 | |||||||||||||||||
Other | - | 52 | - | 52 | |||||||||||||||||
Total CLL | 2,734 | 4,138 | 2,702 | 2,877 | |||||||||||||||||
Energy Financial Services | 4 | - | 4 | - | |||||||||||||||||
GECAS | - | 3 | - | - | |||||||||||||||||
Other | 6 | 25 | 6 | 13 | |||||||||||||||||
Total Commercial | 2,744 | (b) | 4,166 | (b) | 2,712 | 2,890 | |||||||||||||||
Real Estate | 2,551 | (c) | 4,885 | (c) | 2,301 | 444 | |||||||||||||||
Consumer | |||||||||||||||||||||
Non-U.S. residential mortgages | 2,161 | 2,598 | 1,766 | 2,567 | |||||||||||||||||
Non-U.S. installment and revolving credit | 88 | 213 | 88 | 213 | |||||||||||||||||
U.S. installment and revolving credit | 2 | 1,026 | 2 | 1,026 | |||||||||||||||||
Non-U.S. auto | 18 | 24 | 18 | 24 | |||||||||||||||||
Other | 351 | 427 | 345 | 351 | |||||||||||||||||
Total Consumer | 2,620 | (d) | 4,288 | (d) | 2,219 | 4,181 | |||||||||||||||
Total | $ | 7,915 | $ | 13,339 | $ | 7,232 | $ | 7,515 | |||||||||||||
Allowance for losses percentage | |||||||||||||||||||||
Commercial | 36.6 | % | 25 | % | 37.1 | % | 36 | % | |||||||||||||
Real Estate | 7.5 | 6.6 | 8.3 | 72.1 | |||||||||||||||||
Consumer | 151.9 | 83.6 | 179.4 | 85.7 | |||||||||||||||||
Total | 65.4 | % | 37.1 | % | 71.6 | % | 65.8 | % | |||||||||||||
During the fourth quarter of 2013, we revised our methods for classifying financing receivables as nonaccrual and nonearning to more closely align with regulatory guidance. Given that the revised methods result in nonaccrual and nonearning amounts that are substantially the same, we plan to discontinue the reporting of nonearning financing receivables in the first quarter of 2014. Further information on our nonaccrual and nonearning financing receivables is provided in Note 1 to the consolidated financial statements. | |||||||||||||||||||||
Included $1,397 million and $2,647 million at December 31, 2013 and 2012, respectively, that are currently paying in accordance with their contractual terms. | |||||||||||||||||||||
Included $2,308 million and $4,461 million at December 31, 2013 and 2012, respectively, that are currently paying in accordance with their contractual terms. | |||||||||||||||||||||
Included $527 million and $734 million at December 31, 2013 and 2012, respectively, that are currently paying in accordance with their contractual terms. | |||||||||||||||||||||
Impaired Loans | ' | ||||||||||||||||||||
With no specific allowance | With a specific allowance | ||||||||||||||||||||
Recorded | Unpaid | Average | Recorded | Unpaid | Average | ||||||||||||||||
investment | principal | investment in | investment | principal | Associated | investment | |||||||||||||||
December 31 (In millions) | in loans | balance | loans | in loans | balance | allowance | in loans | ||||||||||||||
2013 | |||||||||||||||||||||
Commercial | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 1,670 | $ | 2,187 | $ | 2,154 | $ | 417 | $ | 505 | $ | 96 | $ | 497 | |||||||
Europe | 802 | 1,589 | 956 | 580 | 921 | 211 | 536 | ||||||||||||||
Asia | 302 | 349 | 180 | 111 | 125 | 20 | 93 | ||||||||||||||
Other | - | - | - | - | - | - | 12 | ||||||||||||||
Total CLL | 2,774 | 4,125 | 3,290 | 1,108 | 1,551 | 327 | 1,138 | ||||||||||||||
Energy Financial Services | - | - | - | 4 | 4 | 1 | 2 | ||||||||||||||
GECAS | - | - | - | - | - | - | 1 | ||||||||||||||
Other | 2 | 3 | 9 | 4 | 4 | - | 5 | ||||||||||||||
Total Commercial(a) | 2,776 | 4,128 | 3,299 | 1,116 | 1,559 | 328 | 1,146 | ||||||||||||||
Real Estate(b) | 2,615 | 3,036 | 3,058 | 1,245 | 1,507 | 74 | 1,688 | ||||||||||||||
Consumer(c) | 109 | 153 | 98 | 2,879 | 2,948 | 567 | 3,058 | ||||||||||||||
Total | $ | 5,500 | $ | 7,317 | $ | 6,455 | $ | 5,240 | $ | 6,014 | $ | 969 | $ | 5,892 | |||||||
2012 | |||||||||||||||||||||
Commercial | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 2,487 | $ | 2,927 | $ | 2,535 | $ | 557 | $ | 681 | $ | 178 | $ | 987 | |||||||
Europe | 1,131 | 1,901 | 1,009 | 643 | 978 | 278 | 805 | ||||||||||||||
Asia | 62 | 64 | 62 | 109 | 120 | 23 | 134 | ||||||||||||||
Other | - | - | 43 | 52 | 68 | 6 | 16 | ||||||||||||||
Total CLL | 3,680 | 4,892 | 3,649 | 1,361 | 1,847 | 485 | 1,942 | ||||||||||||||
Energy Financial Services | - | - | 2 | - | - | - | 7 | ||||||||||||||
GECAS | - | - | 17 | 3 | 3 | - | 5 | ||||||||||||||
Other | 17 | 28 | 26 | 8 | 8 | 2 | 40 | ||||||||||||||
Total Commercial(a) | 3,697 | 4,920 | 3,694 | 1,372 | 1,858 | 487 | 1,994 | ||||||||||||||
Real Estate(b) | 3,491 | 3,712 | 3,773 | 2,202 | 2,807 | 188 | 3,752 | ||||||||||||||
Consumer(c) | 105 | 117 | 100 | 3,103 | 3,141 | 673 | 2,949 | ||||||||||||||
Total | $ | 7,293 | $ | 8,749 | $ | 7,567 | $ | 6,677 | $ | 7,806 | $ | 1,348 | $ | 8,695 | |||||||
We recognized $218 million and $253 million of interest income, including $60 million and $92 million on a cash basis, for the years ended December 31, 2013 and 2012, respectively, principally in our CLL Americas business. The total average investment in impaired loans for the years ended December 31, 2013 and 2012 was $4,445 million and $5,688 million, respectively. | |||||||||||||||||||||
We recognized $187 million and $329 million of interest income, including $135 million and $237 million on a cash basis, for the years ended December 31, 2013 and 2012, respectively. The total average investment in impaired loans for the years ended December 31, 2013 and 2012 was $4,746 million and $7,525 million, respectively. | |||||||||||||||||||||
We recognized $221 million and $168 million of interest income, including $3 million and $4 million on a cash basis, for the years ended December 31, 2013 and 2012, respectively, principally in our Consumer-U.S. installment and revolving credit portfolios. The total average investment in impaired loans for the years ended December 31, 2013 and 2012 was $3,156 million and $3,049 million, respectively. | |||||||||||||||||||||
Financing Receivables And Allowance For Losses | ' | ||||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | |||||||||||||||||||
Commercial | |||||||||||||||||||||
Non-impaired financing receivables | $ | 125,377 | $ | 132,741 | |||||||||||||||||
General reserves | 677 | 554 | |||||||||||||||||||
Impaired loans | 3,892 | 5,069 | |||||||||||||||||||
Specific reserves | 328 | 487 | |||||||||||||||||||
Real Estate | |||||||||||||||||||||
Non-impaired financing receivables | $ | 16,039 | $ | 15,253 | |||||||||||||||||
General reserves | 118 | 132 | |||||||||||||||||||
Impaired loans | 3,860 | 5,693 | |||||||||||||||||||
Specific reserves | 74 | 188 | |||||||||||||||||||
Consumer | |||||||||||||||||||||
Non-impaired financing receivables | $ | 106,051 | $ | 111,141 | |||||||||||||||||
General reserves | 3,414 | 2,910 | |||||||||||||||||||
Impaired loans | 2,988 | 3,208 | |||||||||||||||||||
Specific reserves | 567 | 673 | |||||||||||||||||||
Total | |||||||||||||||||||||
Non-impaired financing receivables | $ | 247,467 | $ | 259,135 | |||||||||||||||||
General reserves | 4,209 | 3,596 | |||||||||||||||||||
Impaired loans | 10,740 | 13,970 | |||||||||||||||||||
Specific reserves | 969 | 1,348 | |||||||||||||||||||
Commercial Portfolio Segment [Member] | ' | ||||||||||||||||||||
Supplemental Information About Credit Quality Indicators | ' | ||||||||||||||||||||
Credit Quality Indicators | ' | ||||||||||||||||||||
Secured | |||||||||||||||||||||
December 31 (In millions) | A | B | C | Total | |||||||||||||||||
2013 | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 65,444 | $ | 1,587 | $ | 1,554 | $ | 68,585 | |||||||||||||
Europe(a) | 35,968 | 479 | 1,019 | 37,466 | |||||||||||||||||
Asia | 8,962 | 140 | 218 | 9,320 | |||||||||||||||||
Other(a) | 101 | - | - | 101 | |||||||||||||||||
Total CLL | 110,475 | 2,206 | 2,791 | 115,472 | |||||||||||||||||
Energy Financial Services | 2,969 | 9 | - | 2,978 | |||||||||||||||||
GECAS | 9,175 | 50 | 152 | 9,377 | |||||||||||||||||
Other | 318 | - | - | 318 | |||||||||||||||||
Total | $ | 122,937 | $ | 2,265 | $ | 2,943 | $ | 128,145 | |||||||||||||
2012 | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 68,360 | $ | 1,775 | $ | 2,382 | $ | 72,517 | |||||||||||||
Europe(a) | 33,756 | 1,188 | 1,256 | 36,200 | |||||||||||||||||
Asia | 10,732 | 117 | 372 | 11,221 | |||||||||||||||||
Other(a) | 159 | - | 94 | 253 | |||||||||||||||||
Total CLL | 113,007 | 3,080 | 4,104 | 120,191 | |||||||||||||||||
Energy Financial Services | 4,725 | - | - | 4,725 | |||||||||||||||||
GECAS | 10,681 | 223 | 11 | 10,915 | |||||||||||||||||
Other | 486 | - | - | 486 | |||||||||||||||||
Total | $ | 128,899 | $ | 3,303 | $ | 4,115 | $ | 136,317 | |||||||||||||
During 2013, we transferred our European equipment services portfolio from CLL Other to CLL Europe. Prior-period amounts were reclassified to conform to the current period presentation. | |||||||||||||||||||||
Commercial Real Estate Portfolio Segment [Member] | ' | ||||||||||||||||||||
Supplemental Information About Credit Quality Indicators | ' | ||||||||||||||||||||
Credit Quality Indicators | ' | ||||||||||||||||||||
Loan-to-value ratio | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Less than | 80% to | Greater than | Less than | 80% to | Greater than | ||||||||||||||||
December 31 (In millions) | 80% | 95% | 95% | 80% | 95% | 95% | |||||||||||||||
Debt | $ | 15,576 | $ | 1,300 | $ | 2,111 | $ | 13,570 | $ | 2,572 | $ | 3,604 | |||||||||
Consumer Portfolio Segment [Member] | ' | ||||||||||||||||||||
Supplemental Information About Credit Quality Indicators | ' | ||||||||||||||||||||
Credit Quality Indicators | ' | ||||||||||||||||||||
Loan-to-value ratio | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
80% or | Greater than | Greater than | 80% or | Greater than | Greater than | ||||||||||||||||
December 31 (In millions) | less | 80% to 90% | 90% | less | 80% to 90% | 90% | |||||||||||||||
Non-U.S. residential mortgages | $ | 17,224 | $ | 5,130 | $ | 8,147 | $ | 18,568 | $ | 5,699 | $ | 9,083 | |||||||||
Internal ratings translated to approximate credit bureau equivalent score | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
671 or | 626 to | 625 or | 671 or | 626 to | 625 or | ||||||||||||||||
December 31 (In millions) | higher | 670 | less | higher | 670 | less | |||||||||||||||
Non-U.S. installment and revolving credit | $ | 8,310 | $ | 2,855 | $ | 2,512 | $ | 10,228 | $ | 4,267 | $ | 3,321 | |||||||||
U.S. installment and revolving credit | 36,723 | 11,101 | 8,030 | 33,204 | 9,753 | 7,896 | |||||||||||||||
Non-U.S. auto | 1,395 | 373 | 286 | 3,141 | 666 | 453 |
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment | ' | ||||||||
Depreciable | |||||||||
lives-new | |||||||||
December 31 (Dollars in millions) | (in years) | 2013 | 2012 | ||||||
Original cost | |||||||||
GE | |||||||||
Land and improvements | 8 | (a) | $ | 707 | $ | 612 | |||
Buildings, structures and related equipment | Aug-40 | 8,910 | 8,361 | ||||||
Machinery and equipment | 20-Apr | 25,323 | 24,090 | ||||||
Leasehold costs and manufacturing plant under construction | 10-Jan | 3,309 | 2,815 | ||||||
38,249 | 35,878 | ||||||||
GECC(b) | |||||||||
Land and improvements, buildings, structures and related equipment | Jan-35 | (a) | 2,504 | 2,485 | |||||
Equipment leased to others | |||||||||
Aircraft | 20 | 50,337 | 49,954 | ||||||
Vehicles | 20-Jan | 14,656 | 15,952 | ||||||
Railroad rolling stock | Apr-50 | 4,636 | 4,180 | ||||||
Construction and manufacturing | 30-Jan | 2,916 | 3,055 | ||||||
All other | 27-Jul | 3,518 | 3,427 | ||||||
78,567 | 79,053 | ||||||||
Eliminations | -347 | -363 | |||||||
Total | $ | 116,469 | $ | 114,568 | |||||
Net carrying value | |||||||||
GE | |||||||||
Land and improvements | $ | 671 | $ | 582 | |||||
Buildings, structures and related equipment | 4,205 | 4,003 | |||||||
Machinery and equipment | 9,701 | 9,061 | |||||||
Leasehold costs and manufacturing plant under construction | 2,997 | 2,387 | |||||||
17,574 | 16,033 | ||||||||
GECC(b) | |||||||||
Land and improvements, buildings, structures and related equipment | 1,025 | 999 | |||||||
Equipment leased to others | |||||||||
Aircraft(c) | 34,938 | 36,231 | |||||||
Vehicles | 8,312 | 8,634 | |||||||
Railroad rolling stock | 3,129 | 2,744 | |||||||
Construction and manufacturing | 1,955 | 2,069 | |||||||
All other | 2,248 | 2,290 | |||||||
51,607 | 52,967 | ||||||||
Eliminations | -354 | -367 | |||||||
Total | $ | 68,827 | $ | 68,633 | |||||
(a) Depreciable lives exclude land. | |||||||||
(b) Included $1,353 million and $1,466 million of original cost of assets leased to GE with accumulated amortization of $342 million and $451 million at December 31, 2013 and 2012, respectively. | |||||||||
(c) The GECAS business of GE Capital recognized impairment losses of $732 million and $242 million in 2013 and 2012, respectively. These losses are recorded in the caption “Other costs and expenses” in the Statement of Earnings to reflect adjustments to fair value based on an evaluation of average current market values (obtained from third parties) of similar type and age aircraft, which are adjusted for the attributes of the specific aircraft under lease. | |||||||||
Rentals due from customers for equipment on operating leases | ' | ||||||||
(In millions) | |||||||||
Due in | |||||||||
2014 | $ | 7,168 | |||||||
2015 | 5,925 | ||||||||
2016 | 4,838 | ||||||||
2017 | 3,823 | ||||||||
2018 | 3,070 | ||||||||
2019 and later | 7,695 | ||||||||
Total | $ | 32,519 |
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||||
Goodwill and other intangible assets | ' | |||||||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | ||||||||||||||||||||||
Goodwill | $ | 77,648 | $ | 73,114 | ||||||||||||||||||||
Other intangible assets - net | ||||||||||||||||||||||||
Intangible assets subject to amortization | $ | 14,150 | $ | 11,821 | ||||||||||||||||||||
Indefinite-lived intangible assets(a) | 160 | 159 | ||||||||||||||||||||||
Total | $ | 14,310 | $ | 11,980 | ||||||||||||||||||||
Indefinite-lived intangible assets principally comprised in-process research and development, trademarks and tradenames. | ||||||||||||||||||||||||
Changes in goodwill balance | ' | |||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Dispositions, | Dispositions, | |||||||||||||||||||||||
currency | currency | |||||||||||||||||||||||
Balance at | exchange | Balance at | Balance at | exchange | Balance at | |||||||||||||||||||
(In millions) | 1-Jan | Acquisitions | and other | 31-Dec | 1-Jan | Acquisitions | and other | 31-Dec | ||||||||||||||||
Power & Water | $ | 8,821 | $ | - | $ | 1 | $ | 8,822 | $ | 8,769 | $ | - | $ | 52 | $ | 8,821 | ||||||||
Oil & Gas | 8,365 | 2,217 | -66 | 10,516 | 8,233 | 113 | 19 | 8,365 | ||||||||||||||||
Energy Management | 4,610 | 7 | 131 | 4,748 | 4,621 | - | -11 | 4,610 | ||||||||||||||||
Aviation | 5,975 | 3,043 | 85 | 9,103 | 5,996 | 55 | -76 | 5,975 | ||||||||||||||||
Healthcare | 16,762 | 45 | -164 | 16,643 | 16,631 | 221 | -90 | 16,762 | ||||||||||||||||
Transportation | 999 | - | 13 | 1,012 | 551 | 445 | 3 | 999 | ||||||||||||||||
Appliances & Lighting | 611 | - | -5 | 606 | 594 | 11 | 6 | 611 | ||||||||||||||||
GE Capital | 26,971 | 17 | -793 | 26,195 | 26,902 | - | 69 | 26,971 | ||||||||||||||||
Corporate | - | 4 | -1 | 3 | - | - | - | - | ||||||||||||||||
Total | $ | 73,114 | $ | 5,333 | $ | -799 | $ | 77,648 | $ | 72,297 | $ | 845 | $ | -28 | $ | 73,114 | ||||||||
Intangible assets subject to amortization | ' | |||||||||||||||||||||||
Intangible Assets Subject to Amortization | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Gross | Gross | |||||||||||||||||||||||
carrying | Accumulated | carrying | Accumulated | |||||||||||||||||||||
December 31 (In millions) | amount | amortization | Net | amount | amortization | Net | ||||||||||||||||||
Customer-related | $ | 7,938 | $ | -2,312 | $ | 5,626 | $ | 6,977 | $ | -2,156 | $ | 4,821 | ||||||||||||
Patents and technology | 6,602 | -2,621 | 3,981 | 5,432 | -2,406 | 3,026 | ||||||||||||||||||
Capitalized software | 8,256 | -5,252 | 3,004 | 7,514 | -4,673 | 2,841 | ||||||||||||||||||
Trademarks | 1,356 | -295 | 1,061 | 995 | -239 | 756 | ||||||||||||||||||
Lease valuations | 703 | -498 | 205 | 1,163 | -792 | 371 | ||||||||||||||||||
Present value of future profits(a) | 574 | -574 | - | 530 | -530 | - | ||||||||||||||||||
All other | 632 | -359 | 273 | 375 | -369 | 6 | ||||||||||||||||||
Total | $ | 26,061 | $ | -11,911 | $ | 14,150 | $ | 22,986 | $ | -11,165 | $ | 11,821 | ||||||||||||
(a) Balances at December 31, 2013 and 2012 reflect adjustments of $322 million and $353 million, respectively, to the present value of future profits in our run-off insurance operations to reflect the effects that would have been recognized had the related unrealized investment securities holding gains and losses actually been realized. | ||||||||||||||||||||||||
All_Other_Assets_Tables
All Other Assets (Tables) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Other Assets [Abstract] | ' | |||||
All Other Assets | ' | |||||
December 31 (In millions) | 2013 | 2012 | ||||
GE | ||||||
Investments | ||||||
Associated companies(a) | $ | 3,937 | $ | 22,169 | ||
Other | 626 | 445 | ||||
4,563 | 22,614 | |||||
Contract costs and estimated earnings(b) | 12,522 | 11,041 | ||||
Long-term receivables, including notes | 993 | 714 | ||||
Derivative instruments | 623 | 383 | ||||
Other | 5,007 | 4,782 | ||||
23,708 | 39,534 | |||||
GECC | ||||||
Investments | ||||||
Associated companies | 17,348 | 19,119 | ||||
Real estate(c)(d) | 16,163 | 25,154 | ||||
Assets held for sale(e) | 2,571 | 4,194 | ||||
Cost method(d) | 1,462 | 1,665 | ||||
Other | 930 | 1,446 | ||||
38,474 | 51,578 | |||||
Advances to suppliers | 2,328 | 1,805 | ||||
Derivative instruments | 1,117 | 3,557 | ||||
Deferred borrowing costs | 867 | 940 | ||||
Deferred acquisition costs(f) | 29 | 46 | ||||
Other | 4,551 | 4,260 | ||||
47,366 | 62,186 | |||||
Eliminations | -266 | -76 | ||||
Total | $ | 70,808 | $ | 101,644 | ||
(a) Included our investment in NBCU LLC of $18,887 million at December 31, 2012. At December 31, 2012, we also had $4,937 million, of deferred tax liabilities related to this investment. See Note 14. | ||||||
(b) Contract costs and estimated earnings reflect revenues earned in excess of billings on our long-term contracts to construct technically complex equipment (such as power generation, aircraft engines and aeroderivative units) and long-term product maintenance or extended warranty arrangements. These amounts are presented net of related billings in excess of revenues of $1,842 million and $1,498 million at December 31, 2013 and 2012, respectively. | ||||||
(c) GECC investments in real estate consisted principally of two categories: real estate held for investment and equity method investments. Both categories contained a wide range of properties including the following at December 31, 2013: office buildings (52%), apartment buildings (14%), retail facilities (9%), industrial properties (7%), franchise properties (3%) and other (15%). At December 31, 2013, investments were located in the Americas (41%), Europe (35%) and Asia (24%). | ||||||
(d) The fair value of and unrealized loss on cost method investments in a continuous loss position for less than 12 months at December 31, 2013, were $17 million and an insignificant amount, respectively. There were no cost method investments in a continuous loss position for 12 months or more at December 31, 2013. The fair value of and unrealized loss on cost method investments in a continuous loss position for less than 12 months at December 31, 2012, were $142 million and $37 million, respectively. The fair value of and unrealized loss on cost method investments in a continuous loss position for 12 months or more at December 31, 2012, were $2 million and an insignificant amount, respectively. | ||||||
(e) Assets were classified as held for sale on the date a decision was made to dispose of them through sale or other means. At December 31, 2013 and 2012, such assets consisted primarily of loans, aircraft, equipment and real estate properties, and were accounted for at the lower of carrying amount or estimated fair value less costs to sell. These amounts are net of valuation allowances of $127 million and $200 million at December 31, 2013 and 2012, respectively. | ||||||
(f) Balances at December 31, 2013 and 2012 reflect adjustments of $700 million and $764 million, respectively, to deferred acquisition costs in our run-off insurance operations 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) | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||
GECC Borrowings | ' | ||||||||||||||
Short-term Borrowings | 2013 | 2012 | |||||||||||||
Average | Average | ||||||||||||||
December 31 (Dollars in millions) | Amount | rate(a) | Amount | rate(a) | |||||||||||
GE | |||||||||||||||
Commercial paper | $ | - | - | % | $ | 352 | 0.28 | % | |||||||
Payable to banks | 346 | 3.38 | 23 | 3.02 | |||||||||||
Current portion of long-term | |||||||||||||||
borrowings | 70 | 5.65 | 5,068 | 5.11 | |||||||||||
Other | 1,425 | 598 | |||||||||||||
Total GE short-term borrowings | 1,841 | 6,041 | |||||||||||||
GECC | |||||||||||||||
Commercial paper | |||||||||||||||
U.S. | 24,877 | 0.18 | 33,686 | 0.22 | |||||||||||
Non-U.S. | 4,168 | 0.33 | 9,370 | 0.92 | |||||||||||
Current portion of long-term | |||||||||||||||
borrowings(b)(c)(d) | 39,215 | 2.7 | 44,264 | 2.85 | |||||||||||
GE Interest Plus notes(e) | 8,699 | 1.11 | 8,189 | 1.2 | |||||||||||
Other(c) | 339 | 431 | |||||||||||||
Total GECC short-term borrowings | 77,298 | 95,940 | |||||||||||||
Eliminations | -1,249 | -589 | |||||||||||||
Total short-term borrowings | $ | 77,890 | $ | 101,392 | |||||||||||
Long-term Borrowings | 2013 | 2012 | |||||||||||||
Average | Average | ||||||||||||||
December 31 (Dollars in millions) | Maturities | Amount | rate(a) | Amount | rate (a) | ||||||||||
GE | |||||||||||||||
Senior notes | 2015-2042 | $ | 10,968 | 3.63 | % | $ | 10,963 | 3.63 | % | ||||||
Payable to banks | 2015-2023 | 10 | 1.1 | 13 | 1.79 | ||||||||||
Other | 537 | 452 | |||||||||||||
Total GE long-term borrowings | 11,515 | 11,428 | |||||||||||||
GECC | |||||||||||||||
Senior unsecured notes(b) | 2015-2054 | 186,433 | 2.97 | 199,646 | 2.95 | ||||||||||
Subordinated notes(d) | 2021-2037 | 4,821 | 3.93 | 4,965 | 2.92 | ||||||||||
Subordinated debentures(f) | 2066-2067 | 7,462 | 5.64 | 7,286 | 5.78 | ||||||||||
Other(c) | 11,563 | 12,879 | |||||||||||||
Total GECC long-term borrowings | 210,279 | 224,776 | |||||||||||||
Eliminations | -129 | -120 | |||||||||||||
Total long-term borrowings | $ | 221,665 | $ | 236,084 | |||||||||||
Non-recourse borrowings of | |||||||||||||||
consolidated securitization | |||||||||||||||
entities(g) | 2014-2019 | $ | 30,124 | 1.05 | % | $ | 30,123 | 1.12 | % | ||||||
Bank deposits(h) | $ | 53,361 | $ | 46,200 | |||||||||||
Total borrowings and bank | |||||||||||||||
deposits | $ | 383,040 | $ | 413,799 | |||||||||||
(a) Based on year-end balances and year-end local currency effective interest rates, including the effects from hedging. | |||||||||||||||
(b) Included in total long-term borrowings were $481 million and $604 million of obligations to holders of GICs at December 31, 2013 and 2012, 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. Following the April 3, 2012 Moody's downgrade of GECC's long-term credit rating to A1, substantially all of these GICs became redeemable by their holders. In 2012, holders of $386 million in principal amount of GICs redeemed their holdings and GECC made related cash payments. 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. | |||||||||||||||
(c) Included $9,468 million and $9,757 million of funding secured by real estate, aircraft and other collateral at December 31, 2013 and 2012, respectively, of which $2,868 million and $3,294 million is non-recourse to GECC at December 31, 2013 and 2012, respectively. | |||||||||||||||
(d) Included $300 million of subordinated notes guaranteed by GE at both December 31, 2013 and 2012. | |||||||||||||||
(e) Entirely variable denomination floating-rate demand notes. | |||||||||||||||
(f) Subordinated debentures receive rating agency equity credit and were hedged at issuance to the U.S. dollar equivalent of $7,725 million. | |||||||||||||||
(g) Included at December 31, 2013 and 2012 were $9,047 million and $7,707 million of current portion of long-term borrowings, respectively, and $21,077 million and $22,416 million of long-term borrowings, respectively. See Note 23. | |||||||||||||||
(h) Included $13,614 million and $15,896 million of deposits in non-U.S. banks at December 31, 2013 and 2012, respectively, and $18,275 million and $17,291 million of certificates of deposits with maturities greater than one year at December 31, 2013 and 2012, respectively. | |||||||||||||||
Long-Term Debt Maturities | ' | ||||||||||||||
(In millions) | 2014 | 2015 | 2016 | 2017 | 2018 | ||||||||||
GE | $ | 70 | $ | 2,189 | $ | 138 | $ | 4,023 | $ | 22 | |||||
GECC | 39,215 | (a) | 39,672 | 31,987 | 25,866 | 18,183 | |||||||||
(a) Fixed and floating rate notes of $443 million contain put options with exercise dates in 2014, and which have final maturity beyond 2018. | |||||||||||||||
Investment_Contracts_Insurance1
Investment Contracts, Insurance Liabilities and Insurance Annuity Benefits (Tables) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Investment Contracts Insurance Liabilities And Insurance Annuity Benefits [Abstract] | ' | |||||
Schedule of Investment Contracts Insurance Liabilities and Insurance Annuity Benefits | ' | |||||
December 31 (In millions) | 2013 | 2012 | ||||
Investment contracts | $ | 3,144 | $ | 3,321 | ||
Guaranteed investment contracts | 1,471 | 1,644 | ||||
Total investment contracts | 4,615 | 4,965 | ||||
Life insurance benefits(a) | 18,959 | 20,427 | ||||
Other(b) | 3,405 | 3,304 | ||||
26,979 | 28,696 | |||||
Eliminations | -435 | -428 | ||||
Total | $ | 26,544 | $ | 28,268 | ||
Life insurance benefits are accounted for mainly by a net-level-premium method using estimated yields generally ranging from 3.0% to 8.5% in both 2013 and 2012. | ||||||
Substantially all unpaid claims and claims adjustment expenses and unearned premiums. | ||||||
Postretirement_Benefit_Plans_T
Postretirement Benefit Plans (Tables) | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
Pension Benefit Plan [Member] | ' | ||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||||||||||||||
Pension Plan Participants | ' | ||||||||||||||||||||||||||
Pension Plan Participants | |||||||||||||||||||||||||||
Principal | Other | ||||||||||||||||||||||||||
pension | pension | ||||||||||||||||||||||||||
31-Dec-13 | Total | plans | plans | ||||||||||||||||||||||||
Active employees | 128,000 | 94,000 | 34,000 | ||||||||||||||||||||||||
Vested former employees | 229,000 | 184,000 | 45,000 | ||||||||||||||||||||||||
Retirees and beneficiaries | 263,000 | 230,000 | 33,000 | ||||||||||||||||||||||||
Total | 620,000 | 508,000 | 112,000 | ||||||||||||||||||||||||
Effect on operations of the pension plans | ' | ||||||||||||||||||||||||||
Cost of Pension Plans | |||||||||||||||||||||||||||
Total | Principal pension plans | Other pension plans | |||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||
Service cost for benefits earned | $ | 1,970 | $ | 1,779 | $ | 1,498 | $ | 1,535 | $ | 1,387 | $ | 1,195 | $ | 435 | $ | 392 | $ | 303 | |||||||||
Prior service cost amortization | 253 | 287 | 207 | 246 | 279 | 194 | 7 | 8 | 13 | ||||||||||||||||||
Expected return on plan assets | -4,163 | -4,394 | -4,543 | -3,500 | -3,768 | -3,940 | -663 | -626 | -603 | ||||||||||||||||||
Interest cost on benefit obligations | 2,983 | 2,993 | 3,176 | 2,460 | 2,479 | 2,662 | 523 | 514 | 514 | ||||||||||||||||||
Net actuarial loss amortization | 4,007 | 3,701 | 2,486 | 3,664 | 3,421 | 2,335 | 343 | 280 | 151 | ||||||||||||||||||
Pension plans cost | $ | 5,050 | $ | 4,366 | $ | 2,824 | $ | 4,405 | $ | 3,798 | $ | 2,446 | $ | 645 | $ | 568 | $ | 378 | |||||||||
Actuarial Assumptions | ' | ||||||||||||||||||||||||||
Principal pension plans | Other pension plans (weighted average) | ||||||||||||||||||||||||||
31-Dec | 2013 | 2012 | 2011 | 2010 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||
Discount rate | 4.85 | % | 3.96 | % | 4.21 | % | 5.28 | % | 4.39 | % | 3.92 | % | 4.42 | % | 5.11 | % | |||||||||||
Compensation increases | 4 | 3.9 | 3.75 | 4.25 | 3.76 | 3.3 | 4.31 | 4.44 | |||||||||||||||||||
Expected return on assets | 7.5 | 8 | 8 | 8 | 6.92 | 6.82 | 7.09 | 7.25 | |||||||||||||||||||
Accumulated Benefit Obligation | ' | ||||||||||||||||||||||||||
Projected Benefit Obligation | |||||||||||||||||||||||||||
Principal pension plans | Other pension plans | ||||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||
Balance at January 1 | $ | 63,502 | $ | 60,510 | $ | 13,584 | $ | 11,637 | |||||||||||||||||||
Service cost for benefits earned | 1,535 | 1,387 | 435 | 392 | |||||||||||||||||||||||
Interest cost on benefit obligations | 2,460 | 2,479 | 523 | 514 | |||||||||||||||||||||||
Participant contributions | 156 | 157 | 14 | 16 | |||||||||||||||||||||||
Plan amendments | - | - | 11 | -6 | |||||||||||||||||||||||
Actuarial loss (gain) (a) | -6,406 | 2,021 | -575 | 890 | |||||||||||||||||||||||
Benefits paid | -3,134 | -3,052 | -477 | -425 | |||||||||||||||||||||||
Acquisitions (dispositions) / other - net | - | - | 46 | 230 | |||||||||||||||||||||||
Exchange rate adjustments | - | - | -26 | 336 | |||||||||||||||||||||||
Balance at December 31(b) | $ | 58,113 | $ | 63,502 | $ | 13,535 | $ | 13,584 | |||||||||||||||||||
(a) Principally associated with discount rate changes. | |||||||||||||||||||||||||||
(b) The PBO for the GE Supplementary Pension Plan, which is an unfunded plan, was $5,162 million and $5,494 million at year-end 2013 and 2012, respectively. | |||||||||||||||||||||||||||
Accumulated Benefit Obligation | |||||||||||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | |||||||||||||||||||||||||
GE Pension Plan | $ | 50,967 | $ | 55,664 | |||||||||||||||||||||||
GE Supplementary Pension Plan | 3,946 | 4,114 | |||||||||||||||||||||||||
Other pension plans | 12,629 | 12,687 | |||||||||||||||||||||||||
Plans With Assets Less Than ABO | ' | ||||||||||||||||||||||||||
Plans With Assets Less Than ABO | |||||||||||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | |||||||||||||||||||||||||
Funded plans with assets less than ABO | |||||||||||||||||||||||||||
Plan assets | $ | 57,430 | $ | 53,276 | |||||||||||||||||||||||
Accumulated benefit obligations | 60,715 | 66,069 | |||||||||||||||||||||||||
Projected benefit obligations | 63,532 | 69,234 | |||||||||||||||||||||||||
Unfunded plans(a) | |||||||||||||||||||||||||||
Accumulated benefit obligations | 5,243 | 5,390 | |||||||||||||||||||||||||
Projected benefit obligations | 6,512 | 6,828 | |||||||||||||||||||||||||
(a) Primarily related to the GE Supplementary Pension Plan. | |||||||||||||||||||||||||||
Fair Value of Plan Assets | ' | ||||||||||||||||||||||||||
Fair Value of Plan Assets | |||||||||||||||||||||||||||
Principal pension plans | Other pension plans | ||||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||
Balance at January 1 | $ | 44,738 | $ | 42,137 | $ | 9,702 | $ | 8,381 | |||||||||||||||||||
Actual gain on plan assets | 6,312 | 4,854 | 1,212 | 720 | |||||||||||||||||||||||
Employer contributions | 225 | 642 | 673 | 737 | |||||||||||||||||||||||
Participant contributions | 156 | 157 | 14 | 16 | |||||||||||||||||||||||
Benefits paid | -3,134 | -3,052 | -477 | -425 | |||||||||||||||||||||||
Acquisitions (dispositions) / other - net | - | - | -31 | - | |||||||||||||||||||||||
Exchange rate adjustments | - | - | -34 | 273 | |||||||||||||||||||||||
Balance at December 31 | $ | 48,297 | $ | 44,738 | $ | 11,059 | $ | 9,702 | |||||||||||||||||||
Asset Allocation | ' | ||||||||||||||||||||||||||
Asset Allocation | |||||||||||||||||||||||||||
Other pension plans | |||||||||||||||||||||||||||
Principal pension plans | (weighted average) | ||||||||||||||||||||||||||
2013 | 2013 | 2013 | 2013 | ||||||||||||||||||||||||
Target | Actual | Target | Actual | ||||||||||||||||||||||||
allocation | allocation | allocation | allocation | ||||||||||||||||||||||||
Equity securities | 17 - 57 | % (a) | 45 | % (b) | 55 | % | 55 | % | |||||||||||||||||||
Debt securities (including cash equivalents) | 13 - 53 | 31 | 32 | 34 | |||||||||||||||||||||||
Private equities | 18-Aug | 13 | 2 | 1 | |||||||||||||||||||||||
Real estate | 12-Feb | 7 | 6 | 5 | |||||||||||||||||||||||
Other | 13-Mar | 4 | 5 | 5 | |||||||||||||||||||||||
(a) Target equally divided between U.S. equity securities and non-U.S. equity securities. | |||||||||||||||||||||||||||
(b) Actual allocations were 26% for U.S. equity securities and 19% for non-U.S. equity securities. | |||||||||||||||||||||||||||
Pension Plan Investments Measured at Fair Value | ' | ||||||||||||||||||||||||||
(In millions) | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||
Equity securities | |||||||||||||||||||||||||||
U.S. equity securities(a) | $ | 11,067 | $ | 1,568 | $ | - | $ | 12,635 | |||||||||||||||||||
Non-U.S. equity securities(a) | 7,832 | 1,292 | - | 9,124 | |||||||||||||||||||||||
Debt securities | |||||||||||||||||||||||||||
Fixed income and cash investment funds | - | 2,078 | - | 2,078 | |||||||||||||||||||||||
U.S. corporate(b) | - | 4,555 | - | 4,555 | |||||||||||||||||||||||
Residential mortgage-backed | - | 1,093 | - | 1,093 | |||||||||||||||||||||||
U.S. government and federal agency(c) | - | 5,253 | - | 5,253 | |||||||||||||||||||||||
Other debt securities(d) | - | 2,317 | - | 2,317 | |||||||||||||||||||||||
Private equities(a) | - | - | 6,269 | 6,269 | |||||||||||||||||||||||
Real estate(a) | - | - | 3,354 | 3,354 | |||||||||||||||||||||||
Other investments(e) | - | 169 | 1,622 | 1,791 | |||||||||||||||||||||||
Total investments | $ | 18,899 | $ | 18,325 | $ | 11,245 | 48,469 | ||||||||||||||||||||
Other(f) | -172 | ||||||||||||||||||||||||||
Total assets | $ | 48,297 | |||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||
Equity securities | |||||||||||||||||||||||||||
U.S. equity securities(a) | $ | 8,876 | $ | 2,462 | $ | - | $ | 11,338 | |||||||||||||||||||
Non-U.S. equity securities(a) | 6,699 | 1,644 | - | 8,343 | |||||||||||||||||||||||
Debt securities | |||||||||||||||||||||||||||
Fixed income and cash investment funds | - | 1,931 | 50 | 1,981 | |||||||||||||||||||||||
U.S. corporate(b) | - | 2,758 | - | 2,758 | |||||||||||||||||||||||
Residential mortgage-backed | - | 1,420 | 3 | 1,423 | |||||||||||||||||||||||
U.S. government and federal agency(c) | - | 5,489 | - | 5,489 | |||||||||||||||||||||||
Other debt securities(d) | - | 2,053 | 22 | 2,075 | |||||||||||||||||||||||
Private equities(a) | - | - | 6,878 | 6,878 | |||||||||||||||||||||||
Real estate(a) | - | - | 3,356 | 3,356 | |||||||||||||||||||||||
Other investments(e) | - | 44 | 1,694 | 1,738 | |||||||||||||||||||||||
Total investments | $ | 15,575 | $ | 17,801 | $ | 12,003 | 45,379 | ||||||||||||||||||||
Other(f) | -641 | ||||||||||||||||||||||||||
Total assets | $ | 44,738 | |||||||||||||||||||||||||
(a) Included direct investments and investment funds. | |||||||||||||||||||||||||||
(b) Primarily represented investment-grade bonds of U.S. issuers from diverse industries. | |||||||||||||||||||||||||||
(c) Included short-term investments to meet liquidity needs. | |||||||||||||||||||||||||||
(d) Primarily represented investments in non-U.S. corporate bonds, non-U.S. government bonds and commercial mortgage-backed securities. | |||||||||||||||||||||||||||
(e) Substantially all represented hedge fund investments. | |||||||||||||||||||||||||||
(f) Primarily represented net unsettled transactions related to purchases and sales of investments and accrued income receivables. | |||||||||||||||||||||||||||
Changes in Level 3 Investments | ' | ||||||||||||||||||||||||||
Changes in Level 3 Investments for the Year Ended December 31, 2013 | |||||||||||||||||||||||||||
Purchases, | Transfers | ||||||||||||||||||||||||||
issuances | in and/or | ||||||||||||||||||||||||||
January 1, | Net realized | Net unrealized | and | out of | December 31, | ||||||||||||||||||||||
(In millions) | 2013 | gains (losses) | gains (losses) | settlements | Level 3 | (a) | 2013 | ||||||||||||||||||||
Debt securities | |||||||||||||||||||||||||||
Fixed income and cash | |||||||||||||||||||||||||||
investment funds | $ | 50 | $ | -7 | $ | - | $ | -43 | $ | - | $ | - | |||||||||||||||
Residential mortgage-backed | 3 | - | - | - | -3 | - | |||||||||||||||||||||
Other debt securities | 22 | - | - | -22 | - | - | |||||||||||||||||||||
Private equities | 6,878 | 525 | 588 | -1,675 | -47 | 6,269 | |||||||||||||||||||||
Real estate | 3,356 | 23 | 330 | -355 | - | 3,354 | |||||||||||||||||||||
Other investments | 1,694 | -1 | 200 | -77 | -194 | 1,622 | |||||||||||||||||||||
$ | 12,003 | $ | 540 | $ | 1,118 | $ | -2,172 | $ | -244 | $ | 11,245 | ||||||||||||||||
(a) Transfers in and out of Level 3 are considered to occur at the beginning of the period. | |||||||||||||||||||||||||||
Changes in Level 3 Investments for the Year Ended December 31, 2012 | |||||||||||||||||||||||||||
Purchases, | Transfers | ||||||||||||||||||||||||||
issuances | in and/or | ||||||||||||||||||||||||||
January 1, | Net realized | Net unrealized | and | out of | December 31, | ||||||||||||||||||||||
(In millions) | 2012 | gains (losses) | gains (losses) | settlements | Level 3 | (a) | 2012 | ||||||||||||||||||||
Debt securities | |||||||||||||||||||||||||||
Fixed income and cash | |||||||||||||||||||||||||||
investment funds | $ | 62 | $ | - | $ | 9 | $ | -21 | $ | - | $ | 50 | |||||||||||||||
U.S. corporate | 3 | -1 | - | -2 | - | - | |||||||||||||||||||||
Residential mortgage-backed | 5 | -2 | - | - | - | 3 | |||||||||||||||||||||
Other debt securities | 146 | -2 | - | -122 | - | 22 | |||||||||||||||||||||
Private equities | 6,786 | 133 | 438 | -479 | - | 6,878 | |||||||||||||||||||||
Real estate | 3,274 | 20 | 279 | -217 | - | 3,356 | |||||||||||||||||||||
Other investments | 1,709 | 32 | 72 | -71 | -48 | 1,694 | |||||||||||||||||||||
$ | 11,985 | $ | 180 | $ | 798 | $ | -912 | $ | -48 | $ | 12,003 | ||||||||||||||||
(a) Transfers in and out of Level 3 are considered to occur at the beginning of the period. | |||||||||||||||||||||||||||
Pension Asset (Liability) | ' | ||||||||||||||||||||||||||
Pension Asset (Liability) | |||||||||||||||||||||||||||
Principal pension plans | Other pension plans | ||||||||||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||
Funded status(a)(b) | $ | -9,816 | $ | -18,764 | $ | -2,476 | $ | -3,882 | |||||||||||||||||||
Pension asset (liability) recorded in the | |||||||||||||||||||||||||||
Statement of Financial Position | |||||||||||||||||||||||||||
Pension asset | $ | - | $ | - | $ | 325 | $ | 141 | |||||||||||||||||||
Pension liabilities | |||||||||||||||||||||||||||
Due within one year(c) | -170 | -159 | -67 | -62 | |||||||||||||||||||||||
Due after one year | -9,646 | -18,605 | -2,734 | -3,961 | |||||||||||||||||||||||
Net amount recognized | $ | -9,816 | $ | -18,764 | $ | -2,476 | $ | -3,882 | |||||||||||||||||||
Amounts recorded in shareowners’ | |||||||||||||||||||||||||||
equity (unamortized) | |||||||||||||||||||||||||||
Prior service cost (credit) | $ | 1,160 | $ | 1,406 | $ | 9 | $ | -4 | |||||||||||||||||||
Net actuarial loss | 11,555 | 24,437 | 2,459 | 3,962 | |||||||||||||||||||||||
Total | $ | 12,715 | $ | 25,843 | $ | 2,468 | $ | 3,958 | |||||||||||||||||||
(a) Fair value of assets less PBO, as shown in the preceding tables. | |||||||||||||||||||||||||||
(b) The GE Pension Plan was underfunded by $4.7 billion and $13.3 billion at December 31, 2013 and December 31, 2012, respectively. | |||||||||||||||||||||||||||
(c) For principal pension plans, represents the GE Supplementary Pension Plan liability. | |||||||||||||||||||||||||||
Estimated Future Benefit Payments | ' | ||||||||||||||||||||||||||
Estimated Future Benefit Payments | |||||||||||||||||||||||||||
2019 | - | ||||||||||||||||||||||||||
(In millions) | 2014 | 2015 | 2016 | 2017 | 2018 | 2023 | |||||||||||||||||||||
Principal pension | $ | 3,105 | $ | 3,175 | $ | 3,240 | $ | 3,310 | $ | 3,380 | $ | 18,370 | |||||||||||||||
plans | |||||||||||||||||||||||||||
Other pension | |||||||||||||||||||||||||||
plans | $ | 495 | $ | 505 | $ | 510 | $ | 525 | $ | 540 | $ | 2,935 | |||||||||||||||
Retiree Benefit Plan [Member] | ' | ||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||||||||||||||
Pension Plan Participants | ' | ||||||||||||||||||||||||||
Cost of Principal Retiree Benefit Plans | |||||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||||||||||||||||||
Service cost for benefits earned | $ | 229 | $ | 219 | $ | 216 | |||||||||||||||||||||
Prior service cost amortization | 393 | 518 | 647 | ||||||||||||||||||||||||
Expected return on plan assets | -60 | -73 | -97 | ||||||||||||||||||||||||
Interest cost on benefit obligations | 410 | 491 | 604 | ||||||||||||||||||||||||
Net actuarial loss (gain) amortization | -45 | 32 | -110 | ||||||||||||||||||||||||
Net curtailment/settlement gain | - | -101 | - | ||||||||||||||||||||||||
Retiree benefit plans cost | $ | 927 | $ | 1,086 | $ | 1,260 | |||||||||||||||||||||
Actuarial Assumptions | ' | ||||||||||||||||||||||||||
31-Dec | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||
Discount rate | 4.61 | % | 3.74 | %(a) | 4.09 | %(a) | 5.15 | % | |||||||||||||||||||
Compensation increases | 4 | 3.9 | 3.75 | 4.25 | |||||||||||||||||||||||
Expected return on assets | 7 | 7 | 7 | 8 | |||||||||||||||||||||||
Initial healthcare trend rate(b) | 6 | 6.5 | 7 | 7 | |||||||||||||||||||||||
Weighted average discount rates of 3.77% and 3.94% were used for determination of costs in 2013 and 2012, respectively. | |||||||||||||||||||||||||||
For 2013, ultimately declining to 5% for 2030 and thereafter. | |||||||||||||||||||||||||||
Accumulated Benefit Obligation | ' | ||||||||||||||||||||||||||
Accumulated Postretirement Benefit Obligation (APBO) | |||||||||||||||||||||||||||
(In millions) | 2013 | 2012 | |||||||||||||||||||||||||
Balance at January 1 | $ | 11,804 | $ | 13,056 | |||||||||||||||||||||||
Service cost for benefits earned | 229 | 219 | |||||||||||||||||||||||||
Interest cost on benefit obligations | 410 | 491 | |||||||||||||||||||||||||
Participant contributions | 52 | 54 | |||||||||||||||||||||||||
Plan amendments | - | -832 | |||||||||||||||||||||||||
Actuarial gain | -1,836 | (a) | -60 | ||||||||||||||||||||||||
Benefits paid | -746 | -758 | |||||||||||||||||||||||||
Net curtailment/settlement | - | -366 | |||||||||||||||||||||||||
Balance at December 31(b) | $ | 9,913 | $ | 11,804 | |||||||||||||||||||||||
(a) Primarily associated with discount rate change and lower costs from new healthcare supplier contracts. | |||||||||||||||||||||||||||
(b) The APBO for the retiree health plans was $7,626 million and $9,218 million at year-end 2013 and 2012, respectively. | |||||||||||||||||||||||||||
Effect of a One Percentage Point Change in Assumed Healthcare Cost Trend Rate | ' | ||||||||||||||||||||||||||
1% | 1% | ||||||||||||||||||||||||||
(In millions) | Increase | Decrease | |||||||||||||||||||||||||
APBO at December 31, 2013 | $ | 788 | $ | -671 | |||||||||||||||||||||||
Service and interest cost in 2013 | 63 | -52 | |||||||||||||||||||||||||
Fair Value of Plan Assets | ' | ||||||||||||||||||||||||||
Fair Value of Plan Assets | |||||||||||||||||||||||||||
(In millions) | 2013 | 2012 | |||||||||||||||||||||||||
Balance at January 1 | $ | 946 | $ | 1,004 | |||||||||||||||||||||||
Actual gain on plan assets | 118 | 98 | |||||||||||||||||||||||||
Employer contributions | 533 | 548 | |||||||||||||||||||||||||
Participant contributions | 52 | 54 | |||||||||||||||||||||||||
Benefits paid | -746 | -758 | |||||||||||||||||||||||||
Balance at December 31 | $ | 903 | $ | 946 | |||||||||||||||||||||||
Asset Allocation | ' | ||||||||||||||||||||||||||
Asset Allocation | |||||||||||||||||||||||||||
31-Dec | 2013 | 2013 | |||||||||||||||||||||||||
Target | Actual | ||||||||||||||||||||||||||
allocation | allocation | ||||||||||||||||||||||||||
Equity securities | 35 - 75 | %(a) | 39 | %(b) | |||||||||||||||||||||||
Debt securities (including cash equivalents) | Nov-46 | 38 | |||||||||||||||||||||||||
Private equities | 0 - 25 | 14 | |||||||||||||||||||||||||
Real estate | 0 - 12 | 7 | |||||||||||||||||||||||||
Other | 0 - 10 | 2 | |||||||||||||||||||||||||
(a) Target allocations were 18-38% for U.S. equity securities and 17-37% for non-U.S. equity securities. | |||||||||||||||||||||||||||
(b) Actual allocations were 23% for U.S. equity securities and 16% for non-U.S. equity securities. | |||||||||||||||||||||||||||
Pension Asset (Liability) | ' | ||||||||||||||||||||||||||
Retiree Benefit Asset (Liability) | |||||||||||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | |||||||||||||||||||||||||
Funded status(a) | $ | -9,010 | $ | -10,858 | |||||||||||||||||||||||
Liability recorded in the Statement of Financial Position | |||||||||||||||||||||||||||
Retiree health plans | |||||||||||||||||||||||||||
Due within one year | $ | -531 | $ | -589 | |||||||||||||||||||||||
Due after one year | -7,095 | -8,629 | |||||||||||||||||||||||||
Retiree life plans | -1,384 | -1,640 | |||||||||||||||||||||||||
Net liability recognized | $ | -9,010 | $ | -10,858 | |||||||||||||||||||||||
Amounts recorded in shareowners' equity (unamortized) | |||||||||||||||||||||||||||
Prior service cost | $ | 963 | $ | 1,356 | |||||||||||||||||||||||
Net actuarial loss (gain) | -1,667 | 182 | |||||||||||||||||||||||||
Total | $ | -704 | $ | 1,538 | |||||||||||||||||||||||
(a) Fair value of assets less APBO, as shown in the preceding tables. | |||||||||||||||||||||||||||
Estimated Future Benefit Payments | ' | ||||||||||||||||||||||||||
Estimated Future Benefit Payments | |||||||||||||||||||||||||||
2019 | – | ||||||||||||||||||||||||||
(In millions) | 2014 | 2015 | 2016 | 2017 | 2018 | 2023 | |||||||||||||||||||||
$ | 725 | $ | 725 | $ | 725 | $ | 725 | $ | 725 | $ | 3,500 | ||||||||||||||||
Postretirement Benefit Plans | ' | ||||||||||||||||||||||||||
Total | Principal | Other | Retiree | ||||||||||||||||||||||||
postretirement | pension | pension | benefit | ||||||||||||||||||||||||
(In millions) | benefit plans | plans | plans | plans | |||||||||||||||||||||||
Cost of postretirement benefit plans | $ | 5,977 | $ | 4,405 | $ | 645 | $ | 927 | |||||||||||||||||||
Changes in other comprehensive income | |||||||||||||||||||||||||||
Prior service cost – current year | 11 | - | 11 | - | |||||||||||||||||||||||
Net actuarial gain – current year(a) | -12,263 | -9,218 | -1,151 | -1,894 | |||||||||||||||||||||||
Prior service cost amortization | -646 | -246 | -7 | -393 | |||||||||||||||||||||||
Net actuarial gain (loss) amortization | -3,962 | -3,664 | -343 | 45 | |||||||||||||||||||||||
Total changes in other comprehensive income | -16,860 | -13,128 | -1,490 | -2,242 | |||||||||||||||||||||||
Cost of postretirement benefit plans and | |||||||||||||||||||||||||||
changes in other comprehensive income | $ | -10,883 | $ | -8,723 | $ | -845 | $ | -1,315 | |||||||||||||||||||
Principally associated with discount rate changes and plan asset gains in excess of expected return on plan assets. | |||||||||||||||||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||||||
Provision for Income Taxes | ' | ||||||||||||||||||
Provision for Income Taxes | |||||||||||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||||||||||
GE | |||||||||||||||||||
Current tax expense | $ | 4,239 | $ | 2,307 | $ | 5,166 | |||||||||||||
Deferred tax expense (benefit) from temporary differences | -2,571 | -294 | -327 | ||||||||||||||||
1,668 | 2,013 | 4,839 | |||||||||||||||||
GECC | |||||||||||||||||||
Current tax expense (benefit) | -268 | 1,379 | 783 | ||||||||||||||||
Deferred tax expense (benefit) from temporary differences | -724 | -858 | 123 | ||||||||||||||||
-992 | 521 | 906 | |||||||||||||||||
Consolidated | |||||||||||||||||||
Current tax expense | 3,971 | 3,686 | 5,949 | ||||||||||||||||
Deferred tax expense (benefit) from temporary differences | -3,295 | -1,152 | -204 | ||||||||||||||||
Total | $ | 676 | $ | 2,534 | $ | 5,745 | |||||||||||||
Unrecognized tax benefits | ' | ||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | |||||||||||||||||
Unrecognized tax benefits | $ | 5,816 | $ | 5,445 | |||||||||||||||
Portion that, if recognized, would reduce tax expense and effective tax rate(a) | 4,307 | 4,032 | |||||||||||||||||
Accrued interest on unrecognized tax benefits | 975 | 961 | |||||||||||||||||
Accrued penalties on unrecognized tax benefits | 164 | 173 | |||||||||||||||||
Reasonably possible reduction to the balance of unrecognized tax benefits | |||||||||||||||||||
in succeeding 12 months | 0-900 | 0-800 | |||||||||||||||||
Portion that, if recognized, would reduce tax expense and effective tax rate(a) | 0-350 | 0-700 | |||||||||||||||||
(a) Some portion of such reduction might be reported as discontinued operations. | |||||||||||||||||||
Reconciliation of Unrecognized Tax Benefits | ' | ||||||||||||||||||
(In millions) | 2013 | 2012 | |||||||||||||||||
Balance at January 1 | $ | 5,445 | $ | 5,230 | |||||||||||||||
Additions for tax positions of the current year | 771 | 293 | |||||||||||||||||
Additions for tax positions of prior years | 872 | 882 | |||||||||||||||||
Reductions for tax positions of prior years | -1,140 | -723 | |||||||||||||||||
Settlements with tax authorities | -98 | -191 | |||||||||||||||||
Expiration of the statute of limitations | -34 | -46 | |||||||||||||||||
Balance at December 31 | $ | 5,816 | $ | 5,445 | |||||||||||||||
Reconciliation of Income Tax Rate | ' | ||||||||||||||||||
Reconciliation of U.S. Federal Statutory Income Tax Rate to Actual Income Tax Rate | |||||||||||||||||||
Consolidated | GE | GECC | |||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||
U.S. federal statutory income | |||||||||||||||||||
tax rate | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | |
Increase (reduction) in rate | |||||||||||||||||||
resulting from | |||||||||||||||||||
inclusion of after-tax | |||||||||||||||||||
earnings of GECC in | |||||||||||||||||||
before-tax earnings of GE | - | - | - | -16.9 | -15.3 | -11.9 | - | - | - | ||||||||||
Tax on global activities | |||||||||||||||||||
including exports(a) | -24.7 | -12.5 | -10.4 | -4.1 | -4.3 | -5.2 | -45 | -18.4 | -14.7 | ||||||||||
NBCU gain | -0.7 | - | 9.3 | -0.7 | - | 9.8 | - | - | - | ||||||||||
Business Property disposition | - | -1.9 | - | - | - | - | - | -4.2 | - | ||||||||||
U.S. business credits(b) | -3.6 | -2.6 | -3.2 | -1.5 | -0.7 | -1.5 | -4.6 | -4.3 | -4.7 | ||||||||||
All other – net | -1.8 | -3.4 | -2.2 | -2 | -2.7 | -0.9 | 1 | -1.5 | -3.5 | ||||||||||
-30.8 | -20.4 | -6.5 | -25.2 | -23 | -9.7 | -48.6 | -28.4 | -22.9 | |||||||||||
Actual income tax rate | 4.2 | % | 14.6 | % | 28.5 | % | 9.8 | % | 12 | % | 25.3 | % | -13.6 | % | 6.6 | % | 12.1 | % | |
Included (6.0)% and (13.3)% in consolidated and GECC, respectively, related to the sale of 68.5% of our Swiss consumer finance bank, Cembra Money Bank AG (Cembra), through an initial public offering in 2013. | |||||||||||||||||||
U.S. general business credits, primarily the credit for manufacture of energy efficient appliances, the credit for energy produced from renewable sources, the advanced energy project credit, the low-income housing credit and the credit for research performed in the U.S. | |||||||||||||||||||
Components Of Deferred Income Tax | ' | ||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | |||||||||||||||||
Assets | |||||||||||||||||||
GE | $ | 15,284 | $ | 19,745 | |||||||||||||||
GECC | 13,224 | 11,876 | |||||||||||||||||
28,508 | 31,621 | ||||||||||||||||||
Liabilities | |||||||||||||||||||
GE | -10,223 | -13,799 | |||||||||||||||||
GECC | -18,010 | -17,876 | |||||||||||||||||
-28,233 | -31,675 | ||||||||||||||||||
Net deferred income tax asset (liability) | $ | 275 | $ | -54 | |||||||||||||||
Schedule of Deferred Tax Assets and Liabilities | ' | ||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | |||||||||||||||||
GE | |||||||||||||||||||
Provision for expenses(a) | $ | 5,934 | $ | 6,503 | |||||||||||||||
Principal pension plans | 3,436 | 6,567 | |||||||||||||||||
Retiree insurance plans | 3,154 | 3,800 | |||||||||||||||||
Non-U.S. loss carryforwards(b) | 874 | 942 | |||||||||||||||||
Contract costs and estimated earnings | -3,550 | -3,087 | |||||||||||||||||
Intangible assets | -2,268 | -2,269 | |||||||||||||||||
Depreciation | -1,079 | -698 | |||||||||||||||||
Investment in global subsidiaries | -1,077 | -921 | |||||||||||||||||
Investment in NBCU LLC | - | -4,937 | |||||||||||||||||
Other – net | -363 | 46 | |||||||||||||||||
5,061 | 5,946 | ||||||||||||||||||
GECC | |||||||||||||||||||
Operating leases | -6,284 | -6,141 | |||||||||||||||||
Financing leases | -4,075 | -4,506 | |||||||||||||||||
Intangible assets | -1,943 | -1,666 | |||||||||||||||||
Cash flow hedges | -163 | -115 | |||||||||||||||||
Net unrealized gains (losses) on securities | -145 | -314 | |||||||||||||||||
Non-U.S. loss carryforwards(b) | 3,791 | 3,049 | |||||||||||||||||
Allowance for losses | 2,640 | 1,975 | |||||||||||||||||
Investment in global subsidiaries | 1,883 | 1,689 | |||||||||||||||||
Other – net | -490 | 29 | |||||||||||||||||
-4,786 | -6,000 | ||||||||||||||||||
Net deferred income tax asset (liability) | $ | 275 | $ | -54 | |||||||||||||||
(a) Represented the tax effects of temporary differences related to expense accruals for a wide variety of items, such as employee compensation and benefits, other pension plan liabilities, interest on tax liabilities, product warranties and other sundry items that are not currently deductible. | |||||||||||||||||||
(b) Net of valuation allowances of $2,089 million and $1,712 million for GE and $862 million and $628 million for GECC, for 2013 and 2012, respectively. Of the net deferred tax asset as of December 31, 2013, of $4,665 million, $30 million relates to net operating loss carryforwards that expire in various years ending from December 31, 2014, through December 31, 2016; $478 million relates to net operating losses that expire in various years ending from December 31, 2017 through December 31, 2030 and $4,157 million relates to net operating loss carryforwards that may be carried forward indefinitely. |
Shareowners_Equity_Tables
Shareowners' Equity (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||||
Shareowners' equity | ' | ||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||
Preferred stock issued | $ | - | $ | - | $ | - | |||||
Common stock issued | $ | 702 | $ | 702 | $ | 702 | |||||
Accumulated other comprehensive income | |||||||||||
Balance at January 1 | $ | -20,230 | $ | -23,974 | $ | -17,855 | |||||
Other comprehensive income before reclassifications | 8,844 | 841 | -9,601 | ||||||||
Reclassifications from other comprehensive income | 2,266 | 2,903 | 3,482 | ||||||||
Other comprehensive income, net, attributable to GE | 11,110 | 3,744 | -6,119 | ||||||||
Balance at December 31 | $ | -9,120 | $ | -20,230 | $ | -23,974 | |||||
Other capital | |||||||||||
Balance at January 1 | $ | 33,070 | $ | 33,693 | $ | 36,890 | |||||
Gains (losses) on treasury stock dispositions and other | -576 | -623 | -703 | ||||||||
Preferred stock redemption | - | - | -2,494 | ||||||||
Balance at December 31 | $ | 32,494 | $ | 33,070 | $ | 33,693 | |||||
Retained earnings | |||||||||||
Balance at January 1 | $ | 144,055 | $ | 137,786 | $ | 131,137 | |||||
Net earnings attributable to the Company | 13,057 | 13,641 | 14,151 | ||||||||
Dividends(a) | -8,060 | -7,372 | -7,498 | ||||||||
Other | -1 | - | -4 | ||||||||
Balance at December 31 | $ | 149,051 | $ | 144,055 | $ | 137,786 | |||||
Common stock held in treasury | |||||||||||
Balance at January 1 | $ | -34,571 | $ | -31,769 | $ | -31,938 | |||||
Purchases | -10,466 | -5,295 | -2,067 | ||||||||
Dispositions | 2,476 | 2,493 | 2,236 | ||||||||
Balance at December 31 | $ | -42,561 | $ | -34,571 | $ | -31,769 | |||||
Total equity | |||||||||||
GE shareowners' equity balance at December 31 | $ | 130,566 | $ | 123,026 | $ | 116,438 | |||||
Noncontrolling interests balance at December 31 | 6,217 | 5,444 | 1,696 | ||||||||
Total equity balance at December 31 | $ | 136,783 | $ | 128,470 | $ | 118,134 | |||||
(a) Included $1,031 million ($806 million related to our preferred stock redemption) of dividends on preferred stock in 2011. | |||||||||||
Common Shares Issued and Outstanding | ' | ||||||||||
December 31 (In thousands) | 2013 | 2012 | 2011 | ||||||||
Issued | 11,693,841 | 11,693,841 | 11,693,841 | ||||||||
In treasury | -1,632,960 | -1,288,216 | -1,120,824 | ||||||||
Outstanding | 10,060,881 | 10,405,625 | 10,573,017 | ||||||||
Accumulated other comprehensive income | ' | ||||||||||
Accumulated Other Comprehensive Income | |||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||
Investment securities | |||||||||||
Balance at January 1 | $ | 677 | $ | -30 | $ | -636 | |||||
OCI before reclassifications - net of deferred taxes of $(407), $387 and $341(a) | -692 | 683 | 577 | ||||||||
Reclassifications from OCI - net of deferred taxes of $222, $13 and $1 | 318 | 22 | 31 | ||||||||
Other comprehensive income(b) | -374 | 705 | 608 | ||||||||
Less: OCI attributable to noncontrolling interests | -4 | -2 | 2 | ||||||||
Balance at December 31 | $ | 307 | $ | 677 | $ | -30 | |||||
Currency translation adjustments (CTA) | |||||||||||
Balance at January 1 | $ | 412 | $ | 133 | $ | -86 | |||||
OCI before reclassifications - net of deferred taxes of $(613), $(266) and $(717) | 510 | 474 | -201 | ||||||||
Reclassifications from OCI - net of deferred taxes of $793, $54 and $357 | -818 | -174 | 381 | ||||||||
Other comprehensive income(b) | -308 | 300 | 180 | ||||||||
Less: OCI attributable to noncontrolling interests | -22 | 21 | -39 | ||||||||
Balance at December 31 | $ | 126 | $ | 412 | $ | 133 | |||||
Cash flow hedges | |||||||||||
Balance at January 1 | $ | -722 | $ | -1,176 | $ | -1,280 | |||||
OCI before reclassifications - net of deferred taxes of $250, $392 and $238 | 738 | 385 | -860 | ||||||||
Reclassifications from OCI - net of deferred taxes of $(177), $(245) and $202 | -271 | 68 | 978 | ||||||||
Other comprehensive income(b) | 467 | 453 | 118 | ||||||||
Less: OCI attributable to noncontrolling interests | 2 | -1 | 14 | ||||||||
Balance at December 31 | $ | -257 | $ | -722 | $ | -1,176 | |||||
Benefit plans | |||||||||||
Balance at January 1 | $ | -20,597 | $ | -22,901 | $ | -15,853 | |||||
Prior service credit (cost) - net of deferred taxes of $(5), $304 and $(276) | -6 | 534 | -495 | ||||||||
Net actuarial gain (loss) - net of deferred taxes of $4,506, $(574) and $(4,746) | 8,269 | -1,396 | -8,637 | ||||||||
Net curtailment/settlement - net of deferred taxes of $0, $123 and $0 | - | 174 | - | ||||||||
Prior service cost amortization - net of deferred taxes of $267, $326 and $341 | 397 | 497 | 514 | ||||||||
Net actuarial loss amortization - net of deferred taxes of $1,343, $1,278 and $811 | 2,640 | 2,490 | 1,578 | ||||||||
Other comprehensive income(b) | 11,300 | 2,299 | -7,040 | ||||||||
Less: OCI attributable to noncontrolling interests | -1 | -5 | 8 | ||||||||
Balance at December 31 | $ | -9,296 | $ | -20,597 | $ | -22,901 | |||||
Accumulated other comprehensive income at December 31 | $ | -9,120 | $ | -20,230 | $ | -23,974 | |||||
Includes adjustments of $(1,171) million, $527 million and $786 million in 2013, 2012 and 2011, respectively, to deferred acquisition costs, present value of future profits, and investment contracts, insurance liabilities and insurance annuity benefits in our run-off insurance operations to reflect the effects that would have been recognized had the related unrealized investment securities holding gains and losses actually been realized. | |||||||||||
Total other comprehensive income was $11,085 million, $3,757 million and $(6,134) million in 2013, 2012 and 2011, respectively. | |||||||||||
Reclassification out of Accumulated Other Comprehensive Income | ' | ||||||||||
Reclassification out of AOCI | |||||||||||
Components of AOCI | 2013 | 2012 | 2011 | Statement of Earnings Caption | |||||||
Available-for-sale securities | |||||||||||
Realized gains (losses) on | |||||||||||
sale/impairment of securities | $ | -540 | $ | -35 | $ | -32 | Other income | ||||
222 | 13 | 1 | Tax (expense) or benefit | ||||||||
$ | -318 | $ | -22 | $ | -31 | Net of tax | |||||
Currency translation adjustments | |||||||||||
Gains (losses) on dispositions | $ | 25 | $ | 120 | $ | -738 | Costs and expenses | ||||
793 | 54 | 357 | Tax (expense) or benefit | ||||||||
$ | 818 | $ | 174 | $ | -381 | Net of tax | |||||
Cash flow hedges | |||||||||||
Gains (losses) on interest rate derivatives | $ | -364 | $ | -499 | $ | -820 | Interest and other financial charges | ||||
Foreign exchange contracts | 564 | 792 | -510 | (a) | |||||||
Other | 248 | -116 | 150 | (b) | |||||||
448 | 177 | -1,180 | Total before tax | ||||||||
-177 | -245 | 202 | Tax (expense) or benefit | ||||||||
$ | 271 | $ | -68 | $ | -978 | Net of tax | |||||
Benefit plan items | |||||||||||
Amortization of prior service costs | $ | -664 | $ | -823 | $ | -855 | (c) | ||||
Amortization of actuarial gains (losses) | -3,983 | -3,768 | -2,389 | (c) | |||||||
-4,647 | -4,591 | -3,244 | Total before tax | ||||||||
1,610 | 1,604 | 1,152 | Tax (expense) or benefit | ||||||||
$ | -3,037 | $ | -2,987 | $ | -2,092 | Net of tax | |||||
Total reclassification adjustments | $ | -2,266 | $ | -2,903 | $ | -3,482 | Net of tax | ||||
Includes $608 million, $894 million and $(310) million in GECC revenues from services and $(44) million, $(102) million and $(200) million in interest and other financial charges for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||
Primarily included in costs and expenses. | |||||||||||
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 12 for further information. | |||||||||||
Noncontrolling Interests in Equity of Consolidated Affiliates | ' | ||||||||||
December 31 (In millions) | 2013 | 2012 | |||||||||
GECC preferred stock | $ | 4,950 | $ | 3,960 | |||||||
Other noncontrolling interests in consolidated affiliates(a) | 1,267 | 1,484 | |||||||||
Total | $ | 6,217 | $ | 5,444 | |||||||
(a) Consisted of a number of individually insignificant noncontrolling interests in partnerships and consolidated affiliates. | |||||||||||
Changes to noncontrolling interests | ' | ||||||||||
Years ended December 31 | |||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||
Beginning balance | $ | 5,444 | $ | 1,696 | $ | 5,262 | |||||
Net earnings | 298 | 223 | 292 | ||||||||
GECC issuance of preferred stock | 990 | 3,960 | - | ||||||||
GECC preferred stock dividend | -298 | -123 | - | ||||||||
Repurchase of NBCU shares(a) | - | - | -3,070 | ||||||||
Dispositions(b) | -175 | - | -609 | ||||||||
Dividends | -80 | -42 | -34 | ||||||||
Other (including AOCI)(c) | 38 | -270 | -145 | ||||||||
Ending balance | $ | 6,217 | $ | 5,444 | $ | 1,696 | |||||
(a) In January 2011 and prior to the transaction with Comcast, we acquired 12.3% of NBCU's outstanding shares from Vivendi for $3,673 million and made an additional payment of $222 million related to previously purchased shares. Of these amounts, $3,070 million reflects a reduction in carrying value of noncontrolling interests. The remaining amount of $825 million represents the amount paid in excess of our carrying value, which was recorded as an increase in our basis in NBCU. | |||||||||||
(b) Includes noncontrolling interests related to the sale of GE SeaCo of $311 million and the redemption of Heller Financial preferred stock of $275 million in 2011. | |||||||||||
(c) Primarily acquisitions and eliminations. | |||||||||||
Other_Stockrelated_Information1
Other Stock-related Information (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Share-based Compensation [Abstract] | ' | ||||||||||||||
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | ' | ||||||||||||||
Stock Compensation Plans | |||||||||||||||
Securities | |||||||||||||||
to be | Weighted | Securities | |||||||||||||
issued | average | available | |||||||||||||
upon | exercise | for future | |||||||||||||
December 31, 2013 (Shares in thousands) | exercise | price | issuance | ||||||||||||
Approved by shareowners | |||||||||||||||
Options | 473,247 | $ | 20.02 | (a) | |||||||||||
RSUs | 13,572 | (b) | (a) | ||||||||||||
PSUs | 950 | (b) | (a) | ||||||||||||
Not approved by shareowners (Consultants’ Plan) | |||||||||||||||
Options | 364 | 25.32 | (c) | ||||||||||||
RSUs | - | (b) | (c) | ||||||||||||
Total | 488,133 | $ | 20.02 | 404,574 | |||||||||||
(a) In 2007, the Board of Directors approved the 2007 Long-Term Incentive Plan (the Plan), which replaced the 1990 Long-Term Incentive Plan. During 2012, an amendment was approved to increase the number of shares authorized for issuance under the Plan from 500 million shares to 925 million shares. No more than 230 million of the total number of authorized shares may be available for awards granted in any form provided under the Plan other than options or stock appreciation rights. Total shares available for future issuance under the Plan amounted to 376.4 million shares at December 31, 2013. | |||||||||||||||
(b) Not applicable. | |||||||||||||||
(c) Total shares available for future issuance under the Consultants' Plan amount to 28.2 million shares. | |||||||||||||||
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | ' | ||||||||||||||
Stock Options Outstanding | |||||||||||||||
Outstanding | Exercisable | ||||||||||||||
Average | Average | ||||||||||||||
Shares | Average | exercise | Shares | exercise | |||||||||||
Exercise price range | (In thousands) | life(a) | price | (In thousands) | price | ||||||||||
Under $10.00 | 34,973 | 4.9 | $ | 9.57 | 26,995 | $ | 9.57 | ||||||||
10.01-15.00 | 56,571 | 5.1 | 11.98 | 45,821 | 11.98 | ||||||||||
15.01-20.00 | 172,157 | 6.8 | 17.46 | 91,007 | 17.24 | ||||||||||
20.01-25.00 | 139,740 | 9.1 | 22.55 | 20,533 | 21.57 | ||||||||||
25.01-30.00 | 20,638 | 4.3 | 28.19 | 20,115 | 28.23 | ||||||||||
30.01-35.00 | 35,993 | 1.6 | 33.54 | 35,993 | 33.54 | ||||||||||
Over $35.00 | 13,539 | 3.3 | 38.67 | 13,539 | 38.67 | ||||||||||
Total | 473,611 | 6.5 | $ | 20.02 | 254,003 | $ | 20.15 | ||||||||
At year-end 2012, options with a weighted average exercise price of $20.85 were exercisable on 214 million shares. | |||||||||||||||
(a) Average contractual life remaining in years. | |||||||||||||||
Stock Option Activity | ' | ||||||||||||||
Stock Option Activity | |||||||||||||||
Weighted | |||||||||||||||
Weighted | average | Aggregate | |||||||||||||
average | remaining | intrinsic | |||||||||||||
Shares | exercise | contractual | value | ||||||||||||
(In thousands) | price | term (In years) | (In millions) | ||||||||||||
Outstanding at January 1, 2013 | 467,837 | $ | 19.27 | ||||||||||||
Granted | 62,762 | 23.8 | |||||||||||||
Exercised | -36,191 | 13.65 | |||||||||||||
Forfeited | -9,688 | 18.95 | |||||||||||||
Expired | -11,109 | 31.6 | |||||||||||||
Outstanding at December 31, 2013 | 473,611 | $ | 20.02 | 6.5 | $ | 4,140 | |||||||||
Exercisable at December 31, 2013 | 254,003 | $ | 20.15 | 5.1 | $ | 2,348 | |||||||||
Options expected to vest | 200,909 | $ | 19.79 | 8 | $ | 1,656 | |||||||||
Other Stock-based Compensation | ' | ||||||||||||||
Other Stock-based Compensation | |||||||||||||||
Weighted | |||||||||||||||
Weighted | average | Aggregate | |||||||||||||
average | remaining | intrinsic | |||||||||||||
Shares | grant date | contractual | value | ||||||||||||
(In thousands) | fair value | term (In years) | (In millions) | ||||||||||||
RSUs outstanding at January 1, 2013 | 14,878 | $ | 22.45 | ||||||||||||
Granted | 3,951 | 24.54 | |||||||||||||
Vested | -4,583 | 24.35 | |||||||||||||
Forfeited | -674 | 21.25 | |||||||||||||
RSUs outstanding at December 31, 2013 | 13,572 | $ | 22.58 | 2.8 | $ | 380 | |||||||||
RSUs expected to vest | 12,352 | $ | 22.32 | 2.7 | $ | 346 |
Other_Income_Tables
Other Income (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Component of Operating Income [Abstract] | ' | ||||||||
Schedule of Other Income | ' | ||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||
GE | |||||||||
Purchases and sales of business interests(a) | $ | 1,777 | $ | 574 | $ | 3,804 | |||
Licensing and royalty income | 320 | 290 | 304 | ||||||
Marketable securities and bank deposits | 54 | 38 | 52 | ||||||
Associated companies(b) | 40 | 1,545 | 894 | ||||||
Interest income from GECC | 21 | 114 | 206 | ||||||
Other items(c) | 674 | 96 | 8 | ||||||
2,886 | 2,657 | 5,268 | |||||||
Eliminations | 222 | -94 | -205 | ||||||
Total | $ | 3,108 | $ | 2,563 | $ | 5,063 | |||
(a) Included a pre-tax gain of $1,096 million on the sale of our 49% common equity interest in NBCU LLC and $3,705 million related to formation of NBCU LLC, in 2013 and 2011, respectively. See Note 2. | |||||||||
(b) Included income of $1,416 million and $789 million from our former equity method investment in NBCU LLC, in 2012 and 2011, respectively. | |||||||||
(c) Included net gains on asset sales of $330 million in 2013. |
GECC_Revenues_from_Services_Ta
GECC Revenues from Services (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Financial Services Revenue [Abstract] | ' | ||||||||
GECC Revenues from services | ' | ||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||
Interest on loans | $ | 17,951 | $ | 18,843 | $ | 19,818 | |||
Equipment leased to others | 9,804 | 10,456 | 10,879 | ||||||
Fees | 4,720 | 4,709 | 4,669 | ||||||
Investment income(a) | 1,809 | 2,630 | 2,500 | ||||||
Financing leases | 1,667 | 1,888 | 2,378 | ||||||
Associated companies(b) | 1,809 | 1,538 | 2,337 | ||||||
Premiums earned by insurance activities | 1,573 | 1,715 | 1,905 | ||||||
Real estate investments(c) | 2,528 | 1,709 | 1,625 | ||||||
Other items(a)(d) | 2,080 | 1,757 | 2,065 | ||||||
43,941 | 45,245 | 48,176 | |||||||
Eliminations | -1,546 | -1,273 | -1,219 | ||||||
Total | $ | 42,395 | $ | 43,972 | $ | 46,957 | |||
(a) Included net other-than-temporary impairments on investment securities of $747 million, $140 million and $387 million in 2013, 2012 and 2011, respectively, of which $96 million related to the impairment of an investment in a Brazilian company that was fully offset by the benefit of a guarantee provided by GE as a component of other items for 2013. See Note 3. | |||||||||
(b) During 2013, we sold our remaining equity interest in the Bank of Ayudhya (Bay Bank) and recorded a pre-tax gain of $641 million. During 2012, we sold our remaining equity interest in Garanti Bank, which was classified as an available-for-sale security. During 2011, we sold an 18.6% equity interest in Garanti Bank and recorded a pre-tax gain of $690 million. | |||||||||
(c) During 2013, we sold real estate comprising certain floors located at 30 Rockefeller Center, New York for a pre-tax gain of $902 million. | |||||||||
(d) During 2013, we sold a portion of Cembra through an initial public offering and recorded a pre-tax gain of $351 million. | |||||||||
Supplemental_Cost_Information_
Supplemental Cost Information (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Supplemental Cost Information [Abstract] | ' | ||||||||||||||
Operating Leases of Lessee Disclosure | ' | ||||||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||||||
GE | $ | 1,220 | $ | 1,134 | $ | 958 | |||||||||
GECC | 428 | 539 | 592 | ||||||||||||
1,648 | 1,673 | 1,550 | |||||||||||||
Eliminations | -135 | -142 | -165 | ||||||||||||
Total | $ | 1,513 | $ | 1,531 | $ | 1,385 | |||||||||
Rental Expenses Under Operating Leases for Next Five Years | ' | ||||||||||||||
(In millions) | 2014 | 2015 | 2016 | 2017 | 2018 | ||||||||||
GE | $ | 660 | $ | 581 | $ | 523 | $ | 440 | $ | 354 | |||||
GECC | 253 | 213 | 185 | 153 | 113 | ||||||||||
913 | 794 | 708 | 593 | 467 | |||||||||||
Eliminations | -59 | -42 | -34 | -24 | -16 | ||||||||||
Total | $ | 854 | $ | 752 | $ | 674 | $ | 569 | $ | 451 |
Earnings_Per_Share_Information1
Earnings Per Share Information (Tables) | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||||
Calculation of earnings per share | ' | |||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||
(In millions; per-share amounts in dollars) | Diluted | Basic | Diluted | Basic | Diluted | Basic | ||||||||||||
Amounts attributable to the Company: | ||||||||||||||||||
Consolidated | ||||||||||||||||||
Earnings from continuing operations for per-share | ||||||||||||||||||
calculation(a)(b) | $ | 15,145 | $ | 15,157 | $ | 14,604 | $ | 14,603 | $ | 14,102 | $ | 14,101 | ||||||
Preferred stock dividends declared(c) | - | - | - | - | -1,031 | -1,031 | ||||||||||||
Earnings from continuing operations attributable to | ||||||||||||||||||
common shareowners for per-share calculation(a)(b) | 15,145 | 15,157 | 14,604 | 14,603 | 13,070 | 13,070 | ||||||||||||
Earnings (loss) from discontinued operations for | ||||||||||||||||||
per-share calculation(a)(b) | -2,128 | -2,116 | -980 | -980 | 30 | 30 | ||||||||||||
Net earnings attributable to GE common shareowners | ||||||||||||||||||
for per-share calculation(a)(b) | $ | 13,028 | $ | 13,040 | $ | 13,622 | $ | 13,622 | $ | 13,099 | $ | 13,098 | ||||||
Average equivalent shares | ||||||||||||||||||
Shares of GE common stock outstanding | 10,222 | 10,222 | 10,523 | 10,523 | 10,591 | 10,591 | ||||||||||||
Employee compensation-related shares (including | ||||||||||||||||||
stock options) and warrants | 67 | - | 41 | - | 29 | - | ||||||||||||
Total average equivalent shares | 10,289 | 10,222 | 10,564 | 10,523 | 10,620 | 10,591 | ||||||||||||
Per-share amounts | ||||||||||||||||||
Earnings from continuing operations | $ | 1.47 | $ | 1.48 | $ | 1.38 | $ | 1.39 | $ | 1.23 | $ | 1.23 | ||||||
Earnings (loss) from discontinued operations | -0.21 | -0.21 | -0.09 | -0.09 | - | - | ||||||||||||
Net earnings | 1.27 | 1.28 | 1.29 | 1.29 | 1.23 | 1.24 | ||||||||||||
Our unvested restricted stock unit awards that contain non-forfeitable rights to dividends or dividend equivalents are considered participating securities and, therefore, are included in the computation of earnings per share pursuant to the two-class method. Application of this treatment has an insignificant effect. | ||||||||||||||||||
(a) Included an insignificant amount of dividend equivalents in each of the three years presented. | ||||||||||||||||||
(b) Included in 2013 is a dilutive adjustment for the change in income for forward purchase contracts that may be settled in stock. | ||||||||||||||||||
(c) Included $806 million related to the redemption of our 10% cumulative preferred stock in 2011. See Note 15. | ||||||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||||||||||||
Assets and liabilities at fair value | ' | |||||||||||||||||||||||||||||||
Netting | ||||||||||||||||||||||||||||||||
(In millions) | Level 1 | (a) | Level 2 | (a) | Level 3 | adjustment | (b) | Net balance | ||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||
Investment securities | ||||||||||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||||||||||
U.S. corporate | $ | - | $ | 18,788 | $ | 2,953 | $ | - | $ | 21,741 | ||||||||||||||||||||||
State and municipal | - | 4,193 | 96 | - | 4,289 | |||||||||||||||||||||||||||
Residential mortgage-backed | - | 1,824 | 86 | - | 1,910 | |||||||||||||||||||||||||||
Commercial mortgage-backed | - | 3,025 | 10 | - | 3,035 | |||||||||||||||||||||||||||
Asset-backed(c) | - | 489 | 6,898 | - | 7,387 | |||||||||||||||||||||||||||
Corporate – non-U.S. | 61 | 645 | 1,064 | - | 1,770 | |||||||||||||||||||||||||||
Government – non-U.S. | 1,590 | 789 | 31 | - | 2,410 | |||||||||||||||||||||||||||
U.S. government and federal | ||||||||||||||||||||||||||||||||
agency | - | 545 | 225 | - | 770 | |||||||||||||||||||||||||||
Retained interests | - | - | 72 | - | 72 | |||||||||||||||||||||||||||
Equity | ||||||||||||||||||||||||||||||||
Available-for-sale | 475 | 31 | 11 | - | 517 | |||||||||||||||||||||||||||
Trading | 78 | 2 | - | - | 80 | |||||||||||||||||||||||||||
Derivatives(d) | - | 8,304 | 175 | -6,739 | 1,740 | |||||||||||||||||||||||||||
Other(e) | - | - | 494 | - | 494 | |||||||||||||||||||||||||||
Total | $ | 2,204 | $ | 38,635 | $ | 12,115 | $ | -6,739 | $ | 46,215 | ||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||
Derivatives | $ | - | $ | 5,409 | $ | 20 | $ | -4,355 | $ | 1,074 | ||||||||||||||||||||||
Other(f) | - | 1,170 | - | - | 1,170 | |||||||||||||||||||||||||||
Total | $ | - | $ | 6,579 | $ | 20 | $ | -4,355 | $ | 2,244 | ||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||
Investment securities | ||||||||||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||||||||||
U.S. corporate | $ | - | $ | 20,580 | $ | 3,591 | $ | - | $ | 24,171 | ||||||||||||||||||||||
State and municipal | - | 4,469 | 77 | - | 4,546 | |||||||||||||||||||||||||||
Residential mortgage-backed | - | 2,162 | 100 | - | 2,262 | |||||||||||||||||||||||||||
Commercial mortgage-backed | - | 3,088 | 6 | - | 3,094 | |||||||||||||||||||||||||||
Asset-backed(c) | - | 715 | 5,023 | - | 5,738 | |||||||||||||||||||||||||||
Corporate – non-U.S. | 71 | 1,132 | 1,218 | - | 2,421 | |||||||||||||||||||||||||||
Government – non-U.S. | 702 | 1,019 | 42 | - | 1,763 | |||||||||||||||||||||||||||
U.S. government and federal | ||||||||||||||||||||||||||||||||
agency | - | 3,288 | 277 | - | 3,565 | |||||||||||||||||||||||||||
Retained interests | - | - | 83 | - | 83 | |||||||||||||||||||||||||||
Equity | ||||||||||||||||||||||||||||||||
Available-for-sale | 590 | 16 | 13 | - | 619 | |||||||||||||||||||||||||||
Trading | 248 | - | - | - | 248 | |||||||||||||||||||||||||||
Derivatives(d) | - | 11,432 | 434 | -7,926 | 3,940 | |||||||||||||||||||||||||||
Other(e) | 35 | - | 799 | - | 834 | |||||||||||||||||||||||||||
Total | $ | 1,646 | $ | 47,901 | $ | 11,663 | $ | -7,926 | $ | 53,284 | ||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||
Derivatives | $ | - | $ | 3,434 | $ | 20 | $ | -3,177 | $ | 277 | ||||||||||||||||||||||
Other(f) | - | 908 | - | - | 908 | |||||||||||||||||||||||||||
Total | $ | - | $ | 4,342 | $ | 20 | $ | -3,177 | $ | 1,185 | ||||||||||||||||||||||
(a) The fair value of securities transferred between Level 1 and Level 2 was $2 million during 2013. | ||||||||||||||||||||||||||||||||
(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) 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. | ||||||||||||||||||||||||||||||||
(d) The fair value of derivatives included an adjustment for non-performance risk. The cumulative adjustment was a gain (loss) of $(7) million and $(15) million at December 31, 2013 and 2012, respectively. See Note 22 for additional information on the composition of our derivative portfolio. | ||||||||||||||||||||||||||||||||
(e) Included private equity investments and loans designated under the fair value option. | ||||||||||||||||||||||||||||||||
(f) 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 Year Ended December 31, 2013 | ||||||||||||||||||||||||||||||||
Net | ||||||||||||||||||||||||||||||||
(In millions) | change in | |||||||||||||||||||||||||||||||
Net realized/ | unrealized | |||||||||||||||||||||||||||||||
Net | unrealized | gains | ||||||||||||||||||||||||||||||
realized/ | gains (losses) | (losses) | ||||||||||||||||||||||||||||||
unrealized | included in | relating to | ||||||||||||||||||||||||||||||
Balance | gains | accumulated | Balance | instruments | ||||||||||||||||||||||||||||
at | (losses) | other | Transfers | Transfers | at | still held at | ||||||||||||||||||||||||||
January 1, | included | comprehensive | into | out of | December 31, | December 31, | ||||||||||||||||||||||||||
2013 | in earnings | (a) | income | Purchases | Sales | Settlements | Level 3 | (b) | Level 3 | (b) | 2013 | 2013 | (c) | |||||||||||||||||||
Investment securities | ||||||||||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||||||||||
U.S. corporate | $ | 3,591 | $ | -497 | $ | 135 | $ | 380 | $ | -424 | $ | -231 | $ | 108 | $ | -109 | $ | 2,953 | $ | - | ||||||||||||
State and municipal | 77 | - | -7 | 21 | - | -5 | 10 | - | 96 | - | ||||||||||||||||||||||
Residential | ||||||||||||||||||||||||||||||||
mortgage-backed | 100 | - | -5 | - | -2 | -7 | - | - | 86 | - | ||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||||
mortgage-backed | 6 | - | - | - | - | -6 | 10 | - | 10 | - | ||||||||||||||||||||||
Asset-backed | 5,023 | 5 | 32 | 2,632 | -4 | -795 | 12 | -7 | 6,898 | - | ||||||||||||||||||||||
Corporate – non-U.S. | 1,218 | -103 | 49 | 5,814 | -3 | -5,874 | 21 | -58 | 1,064 | - | ||||||||||||||||||||||
Government | ||||||||||||||||||||||||||||||||
– non-U.S. | 42 | 1 | -12 | - | - | - | - | - | 31 | - | ||||||||||||||||||||||
U.S. government and | ||||||||||||||||||||||||||||||||
federal agency | 277 | - | -52 | - | - | - | - | - | 225 | - | ||||||||||||||||||||||
Retained interests | 83 | 3 | 1 | 6 | - | -21 | - | - | 72 | - | ||||||||||||||||||||||
Equity | ||||||||||||||||||||||||||||||||
Available-for-sale | 13 | - | - | - | - | - | - | -2 | 11 | - | ||||||||||||||||||||||
Trading | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||
Derivatives(d)(e) | 416 | -66 | 2 | -2 | - | -226 | 37 | 3 | 164 | -30 | ||||||||||||||||||||||
Other | 799 | -68 | 12 | 538 | -779 | - | 4 | -12 | 494 | -102 | ||||||||||||||||||||||
Total | $ | 11,645 | $ | -725 | $ | 155 | $ | 9,389 | $ | -1,212 | $ | -7,165 | $ | 202 | $ | -185 | $ | 12,104 | $ | -132 | ||||||||||||
(a) Earnings effects are primarily included in the “GECC revenues from services” and “Interest and other financial charges” captions in the Statement of Earnings. | ||||||||||||||||||||||||||||||||
(b) Transfers in and out of Level 3 are considered to occur at the beginning of the period. Transfers out of Level 3 were a result of increased use of quotes from independent pricing vendors based on recent trading activity. | ||||||||||||||||||||||||||||||||
(c) Represented the amount of unrealized gains or losses for the period included in earnings. | ||||||||||||||||||||||||||||||||
(d) Represented derivative assets net of derivative liabilities and included cash accruals of $9 million not reflected in the fair value hierarchy table. | ||||||||||||||||||||||||||||||||
(e) 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 22. | ||||||||||||||||||||||||||||||||
Changes in Level 3 Instruments for the Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||
Net | ||||||||||||||||||||||||||||||||
(In millions) | change in | |||||||||||||||||||||||||||||||
Net realized/ | unrealized | |||||||||||||||||||||||||||||||
Net | unrealized | gains | ||||||||||||||||||||||||||||||
realized/ | gains (losses) | (losses) | ||||||||||||||||||||||||||||||
unrealized | included in | relating to | ||||||||||||||||||||||||||||||
Balance | gains | accumulated | Balance | instruments | ||||||||||||||||||||||||||||
at | (losses) | other | Transfers | Transfers | at | still held at | ||||||||||||||||||||||||||
January 1, | included | comprehensive | into | out of | December 31, | December 31, | ||||||||||||||||||||||||||
2012 | in earnings | (a) | income | Purchases | Sales | Settlements | Level 3 | (b) | Level 3 | (b) | 2012 | 2012 | (c) | |||||||||||||||||||
Investment securities | ||||||||||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||||||||||
U.S. corporate | $ | 3,235 | $ | 66 | $ | 32 | $ | 483 | $ | -214 | $ | -110 | $ | 299 | $ | -200 | $ | 3,591 | $ | - | ||||||||||||
State and municipal | 77 | - | 10 | 16 | - | -1 | 78 | -103 | 77 | - | ||||||||||||||||||||||
Residential | ||||||||||||||||||||||||||||||||
mortgage-backed | 41 | -3 | 1 | 6 | - | -3 | 135 | -77 | 100 | - | ||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||||
mortgage-backed | 4 | - | -1 | - | - | - | 6 | -3 | 6 | - | ||||||||||||||||||||||
Asset-backed | 4,040 | 1 | -25 | 1,490 | -502 | - | 25 | -6 | 5,023 | - | ||||||||||||||||||||||
Corporate – non-U.S. | 1,204 | -11 | 19 | 341 | -51 | -172 | 24 | -136 | 1,218 | - | ||||||||||||||||||||||
Government | ||||||||||||||||||||||||||||||||
– non-U.S. | 84 | -33 | 38 | 65 | -72 | -40 | - | - | 42 | - | ||||||||||||||||||||||
U.S. government and | ||||||||||||||||||||||||||||||||
federal agency | 253 | - | 24 | - | - | - | - | - | 277 | - | ||||||||||||||||||||||
Retained interests | 35 | -1 | -3 | 16 | -6 | -12 | 54 | - | 83 | - | ||||||||||||||||||||||
Equity | ||||||||||||||||||||||||||||||||
Available-for-sale | 17 | - | -1 | 3 | -3 | -1 | 2 | -4 | 13 | - | ||||||||||||||||||||||
Trading | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||
Derivatives(d)(e) | 369 | 29 | -1 | -1 | - | -112 | 190 | -58 | 416 | 160 | ||||||||||||||||||||||
Other | 817 | 50 | 2 | 159 | -137 | - | - | -92 | 799 | 43 | ||||||||||||||||||||||
Total | $ | 10,176 | $ | 98 | $ | 95 | $ | 2,578 | $ | -985 | $ | -451 | $ | 813 | $ | -679 | $ | 11,645 | $ | 203 | ||||||||||||
(a) Earnings effects are primarily included in the “GECC revenues from services” and “Interest and other financial charges” captions in the Statement of Earnings. | ||||||||||||||||||||||||||||||||
(b) Transfers in and out of Level 3 are considered to occur at the beginning of the period. Transfers out of Level 3 were a result of increased use of quotes from independent pricing vendors based on recent trading activity. | ||||||||||||||||||||||||||||||||
(c) Represented the amount of unrealized gains or losses for the period included in earnings. | ||||||||||||||||||||||||||||||||
(d) Represented derivative assets net of derivative liabilities and included cash accruals of $2 million not reflected in the fair value hierarchy table. | ||||||||||||||||||||||||||||||||
(e) 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 22. | ||||||||||||||||||||||||||||||||
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 the year ended December 31 | ||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||
(In millions) | Level 2 | Level 3 | Level 2 | Level 3 | ||||||||||||||||||||||||||||
Financing receivables and loans held for sale | $ | 210 | $ | 2,986 | $ | 366 | $ | 4,094 | ||||||||||||||||||||||||
Cost and equity method investments(a) | - | 690 | 8 | 313 | ||||||||||||||||||||||||||||
Long-lived assets, including real estate | 2,050 | 1,088 | 702 | 2,182 | ||||||||||||||||||||||||||||
Total | $ | 2,260 | $ | 4,764 | $ | 1,076 | $ | 6,589 | ||||||||||||||||||||||||
(a) Includes the fair value of private equity and real estate funds included in Level 3 of $126 million and $84 million at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||||||||||
Fair value adjustments to assets measured on a non-recurring basis | ' | |||||||||||||||||||||||||||||||
Year ended December 31 | ||||||||||||||||||||||||||||||||
(In millions) | 2013 | 2012 | ||||||||||||||||||||||||||||||
Financing receivables and loans held for sale | $ | -361 | $ | -595 | ||||||||||||||||||||||||||||
Cost and equity method investments(a) | -484 | -153 | ||||||||||||||||||||||||||||||
Long-lived assets, including real estate(b) | -1,188 | -624 | ||||||||||||||||||||||||||||||
Total | $ | -2,033 | $ | -1,372 | ||||||||||||||||||||||||||||
(a) Includes fair value adjustments associated with private equity and real estate funds of $(14) million and $(33) million during 2013 and 2012, respectively. | ||||||||||||||||||||||||||||||||
(b) Includes impairments related to real estate equity properties and investments recorded in other costs and expenses of $108 million and $218 million during 2013 and 2012, respectively. | ||||||||||||||||||||||||||||||||
Level 3 Measurements | ' | |||||||||||||||||||||||||||||||
Valuation | Unobservable | Range (weighted | ||||||||||||||||||||||||||||||
(Dollars in millions) | Fair value | technique | inputs | average) | ||||||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||||||
Recurring fair value measurements | ||||||||||||||||||||||||||||||||
Investment securities | ||||||||||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||||||||||
U.S. corporate | $ | 898 | Income approach | Discount rate(a) | 1.5%-13.3% (6.5%) | |||||||||||||||||||||||||||
Asset-backed | 6,854 | Income approach | Discount rate(a) | 1.2%-10.5% (3.7%) | ||||||||||||||||||||||||||||
Corporate – non-U.S. | 819 | Income approach | Discount rate(a) | 1.4%-46.0% (15.1%) | ||||||||||||||||||||||||||||
Other financial assets | 381 | Income approach, Market comparables | Weighted average cost of capital | 9.3%-9.3% (9.3%) | ||||||||||||||||||||||||||||
EBITDA multiple | 5.4X-12.5X (9.5X) | |||||||||||||||||||||||||||||||
Discount rate(a) | 5.2%-8.8% (5.3%) | |||||||||||||||||||||||||||||||
Capitalization rate(b) | 6.3%-7.5% (7.2%) | |||||||||||||||||||||||||||||||
Non-recurring fair value measurements | ||||||||||||||||||||||||||||||||
Financing receivables and loans held for sale | $ | 1,937 | Income approach, Business enterprise value | Capitalization rate(b) | 5.5%-16.7% (8.0%) | |||||||||||||||||||||||||||
EBITDA multiple | 4.3X-5.5X (4.8X) | |||||||||||||||||||||||||||||||
Discount rate(a) | 6.6%-6.6% (6.6%) | |||||||||||||||||||||||||||||||
Cost and equity method investments | 102 | Income approach, Market comparables | Discount rate(a) | 5.7%-5.9% (5.8%) | ||||||||||||||||||||||||||||
Capitalization rate(b) | 8.5%-10.6% (10.0%) | |||||||||||||||||||||||||||||||
Weighted average cost of capital | 9.3%-9.6% (9.4%) | |||||||||||||||||||||||||||||||
EBITDA multiple | 7.1X-14.5X (11.3X) | |||||||||||||||||||||||||||||||
Revenue multiple | 2.2X-12.6X (9.4X) | |||||||||||||||||||||||||||||||
Long-lived assets, including real estate | 694 | Income approach | Capitalization rate(b) | 5.4%-14.5% (7.8%) | ||||||||||||||||||||||||||||
Discount rate(a) | 4.0%-23.0% (9.0%) | |||||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||
Recurring fair value measurements | ||||||||||||||||||||||||||||||||
Investment securities | ||||||||||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||||||||||
U.S. corporate | $ | 1,652 | Income approach | Discount rate(a) | 1.3%-29.9% (11.1%) | |||||||||||||||||||||||||||
Asset-backed | 4,977 | Income approach | Discount rate(a) | 2.1%-13.1% (3.8%) | ||||||||||||||||||||||||||||
Corporate – non-U.S. | 865 | Income approach | Discount rate(a) | 1.5%-25.0% (13.2%) | ||||||||||||||||||||||||||||
Other financial assets | 633 | Income approach, Market comparables | Weighted average cost of capital | 8.7%-10.2% (8.7%) | ||||||||||||||||||||||||||||
EBITDA multiple | 4.9X-10.6X (7.9X) | |||||||||||||||||||||||||||||||
Non-recurring fair value measurements | ||||||||||||||||||||||||||||||||
Financing receivables and loans held for sale | $ | 2,835 | Income approach, Business enterprise value | Capitalization rate(b) | 3.8%-14.0% (8.0%) | |||||||||||||||||||||||||||
EBITDA multiple | 2.0X-6.0X (4.8X) | |||||||||||||||||||||||||||||||
Cost and equity method investments | 72 | Income approach | Capitalization rate(b) | 9.2%-12.8% (12.0%) | ||||||||||||||||||||||||||||
Long-lived assets, including real estate | 985 | Income approach | Capitalization rate(b) | 4.8%-14.6% (7.3%) | ||||||||||||||||||||||||||||
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) | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Financial Instruments [Abstract] | ' | |||||||||||||||||
Estimated fair value of assets and liabilities | ' | |||||||||||||||||
2013 | 2012 | |||||||||||||||||
Assets (liabilities) | Assets (liabilities) | |||||||||||||||||
Carrying | Carrying | |||||||||||||||||
Notional | amount | Estimated | Notional | amount | Estimated | |||||||||||||
December 31 (In millions) | amount | (net) | fair value | amount | (net) | fair value | ||||||||||||
GE | ||||||||||||||||||
Assets | ||||||||||||||||||
Investments and notes | ||||||||||||||||||
receivable | $ | (a) | $ | 488 | $ | 512 | $ | (a) | $ | 222 | $ | 222 | ||||||
Liabilities | ||||||||||||||||||
Borrowings(b) | (a) | -13,356 | -13,707 | (a) | -17,469 | -18,619 | ||||||||||||
GECC | ||||||||||||||||||
Assets | ||||||||||||||||||
Loans | (a) | 226,293 | 230,792 | (a) | 235,888 | 238,254 | ||||||||||||
Other commercial mortgages | (a) | 2,270 | 2,281 | (a) | 2,222 | 2,249 | ||||||||||||
Loans held for sale | (a) | 512 | 512 | (a) | 1,180 | 1,181 | ||||||||||||
Other financial instruments(c) | (a) | 1,622 | 2,203 | (a) | 1,858 | 2,276 | ||||||||||||
Liabilities | ||||||||||||||||||
Borrowings and bank | ||||||||||||||||||
deposits(b)(d) | (a) | -371,062 | -386,823 | (a) | -397,039 | -414,264 | ||||||||||||
Investment contract benefits | (a) | -3,144 | -3,644 | (a) | -3,321 | -4,150 | ||||||||||||
Guaranteed investment | ||||||||||||||||||
contracts | (a) | -1,471 | -1,459 | (a) | -1,644 | -1,674 | ||||||||||||
Insurance – credit life(e) | 2,149 | -108 | -94 | 2,277 | -120 | -104 | ||||||||||||
(a) These financial instruments do not have notional amounts. | ||||||||||||||||||
(b) See Note 10. | ||||||||||||||||||
(c) Principally cost method investments. | ||||||||||||||||||
(d) Fair values exclude interest rate and currency derivatives designated as hedges of borrowings. Had they been included, the fair value of borrowings at December 31, 2013 and 2012 would have been reduced by $2,284 million and $7,937 million, respectively. | ||||||||||||||||||
(e) Net of reinsurance of $1,250 million and $2,000 million at December 31, 2013 and 2012, respectively. | ||||||||||||||||||
Loan commitments | ' | |||||||||||||||||
Loan Commitments | ||||||||||||||||||
Notional amount | ||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | ||||||||||||||||
Ordinary course of business lending commitments(a) | $ | 4,756 | $ | 3,708 | ||||||||||||||
Unused revolving credit lines(b) | ||||||||||||||||||
Commercial(c) | 16,570 | 17,929 | ||||||||||||||||
Consumer – principally credit cards | 290,662 | 271,211 | ||||||||||||||||
(a) Excluded investment commitments of $1,395 million and $1,276 million as of December 31, 2013 and 2012, respectively. | ||||||||||||||||||
(b) Excluded inventory financing arrangements, which may be withdrawn at our option, of $13,502 million and $12,813 million as of December 31, 2013 and 2012, respectively. | ||||||||||||||||||
(c) Included commitments of $11,629 million and $12,923 million as of December 31, 2013 and 2012, respectively, associated with secured financing arrangements that could have increased to a maximum of $14,590 million and $15,731 million at December 31, 2013 and 2012, respectively, based on asset volume under the arrangement. | ||||||||||||||||||
Fair value of derivatives by contract type | ' | |||||||||||||||||
2013 | 2012 | |||||||||||||||||
Fair value | Fair value | |||||||||||||||||
December 31 (In millions) | Assets | Liabilities | Assets | Liabilities | ||||||||||||||
Derivatives accounted for as hedges | ||||||||||||||||||
Interest rate contracts | $ | 3,837 | $ | 1,989 | $ | 8,443 | $ | 719 | ||||||||||
Currency exchange contracts | 1,830 | 984 | 890 | 1,777 | ||||||||||||||
Other contracts | 1 | - | 1 | - | ||||||||||||||
5,668 | 2,973 | 9,334 | 2,496 | |||||||||||||||
Derivatives not accounted for as hedges | ||||||||||||||||||
Interest rate contracts | 270 | 169 | 452 | 195 | ||||||||||||||
Currency exchange contracts | 2,257 | 2,245 | 1,797 | 691 | ||||||||||||||
Other contracts | 284 | 42 | 283 | 72 | ||||||||||||||
2,811 | 2,456 | 2,532 | 958 | |||||||||||||||
Gross derivatives recognized in statement of | ||||||||||||||||||
financial position | ||||||||||||||||||
Gross derivatives | 8,479 | 5,429 | 11,866 | 3,454 | ||||||||||||||
Gross accrued interest | 1,227 | 241 | 1,683 | 14 | ||||||||||||||
9,706 | 5,670 | 13,549 | 3,468 | |||||||||||||||
Amounts offset in statement of financial position | ||||||||||||||||||
Netting adjustments(a) | -4,120 | -4,113 | -2,801 | -2,786 | ||||||||||||||
Cash collateral(b) | -2,619 | -242 | -5,125 | -391 | ||||||||||||||
-6,739 | -4,355 | -7,926 | -3,177 | |||||||||||||||
Net derivatives recognized in statement of | ||||||||||||||||||
financial position | ||||||||||||||||||
Net derivatives | 2,967 | 1,315 | 5,623 | 291 | ||||||||||||||
Amounts not offset in statement of | ||||||||||||||||||
financial position | ||||||||||||||||||
Securities held as collateral(c) | -1,962 | - | -5,227 | - | ||||||||||||||
Net amount | $ | 1,005 | $ | 1,315 | $ | 396 | $ | 291 | ||||||||||
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. | ||||||||||||||||||
(a) The netting of derivative receivables and payables is permitted when a legally enforceable master netting agreement exists. Amounts included fair value adjustments related to our own and counterparty non-performance risk. At December 31, 2013 and 2012, the cumulative adjustment for non-performance risk was a gain (loss) of $(7) million and $(15) million, respectively. | ||||||||||||||||||
(b) Excludes excess cash collateral received and posted of $160 million and $37 million at December 31, 2013, respectively, and $42 million and $10 million at December 31, 2012, respectively. | ||||||||||||||||||
(c) Excludes excess securities collateral received of $363 million and $359 million at December 31, 2013 and 2012, respectively. | ||||||||||||||||||
Fair value hedges | ' | |||||||||||||||||
2013 | 2012 | |||||||||||||||||
(In millions) | Gain (loss) | Gain (loss) | Gain (loss) | Gain (loss) | ||||||||||||||
on hedging | on hedged | on hedging | on hedged | |||||||||||||||
derivatives | items | derivatives | items | |||||||||||||||
Interest rate contracts | $ | -5,258 | $ | 5,180 | $ | 708 | $ | -1,041 | ||||||||||
Currency exchange contracts | -7 | 6 | -68 | 98 | ||||||||||||||
Fair value hedges resulted in $(79) million and $(303) million of ineffectiveness in 2013 and 2012, respectively. In both 2013 and 2012, there were insignificant amounts excluded from the assessment of effectiveness. | ||||||||||||||||||
Cash flow hedges | ' | |||||||||||||||||
Gain (loss) recognized | Gain (loss) reclassified from | |||||||||||||||||
in AOCI | AOCI into earnings | |||||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
Interest rate contracts | $ | -26 | $ | -158 | $ | -364 | $ | -499 | ||||||||||
Currency exchange contracts | 941 | 1,004 | 817 | 681 | ||||||||||||||
Commodity contracts | -6 | 6 | -5 | -5 | ||||||||||||||
Total | $ | 909 | $ | 852 | $ | 448 | $ | 177 | ||||||||||
The total pre-tax amount in AOCI related to cash flow hedges of forecasted transactions was a $251 million loss at December 31, 2013. We expect to transfer $208 million to earnings as an expense in the next 12 months contemporaneously with the earnings effects of the related forecasted transactions. In 2013, 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 December 31, 2013 and 2012, the maximum term of derivative instruments that hedge forecasted transactions was 19 years and 20 years, respectively. | ||||||||||||||||||
Net investment hedges | ' | |||||||||||||||||
Gain (loss) recognized | Gain (loss) reclassified | |||||||||||||||||
(In millions) | in CTA | from CTA | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||
Currency exchange contracts | $ | 2,322 | $ | -2,905 | $ | -1,525 | $ | 27 |
Variable_Interest_Entities_Tab
Variable Interest Entities (Tables) | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Variable Interest Entities [Abstract] | ' | |||||||||||||||||
Schedule of VIE | ' | |||||||||||||||||
Consolidated Securitization Entities | ||||||||||||||||||
Credit | Trade | |||||||||||||||||
December 31 (In millions) | Trinity | (a) | cards | (b) | Equipment | (b) | receivables | Other | Total | |||||||||
2013 | ||||||||||||||||||
Assets(c) | ||||||||||||||||||
Financing | ||||||||||||||||||
receivables, net | $ | - | $ | 24,766 | $ | 12,928 | $ | 2,509 | $ | 2,044 | $ | 42,247 | ||||||
Investment securities | 2,786 | - | - | - | 1,044 | 3,830 | ||||||||||||
Other assets | 213 | 20 | 557 | - | 2,430 | 3,220 | ||||||||||||
Total | $ | 2,999 | $ | 24,786 | $ | 13,485 | $ | 2,509 | $ | 5,518 | $ | 49,297 | ||||||
Liabilities(c) | ||||||||||||||||||
Borrowings | $ | - | $ | - | $ | - | $ | - | $ | 598 | $ | 598 | ||||||
Non-recourse | ||||||||||||||||||
borrowings | - | 15,363 | 10,982 | 2,180 | 49 | 28,574 | ||||||||||||
Other liabilities | 1,482 | 228 | 248 | 25 | 1,351 | 3,334 | ||||||||||||
Total | $ | 1,482 | $ | 15,591 | $ | 11,230 | $ | 2,205 | $ | 1,998 | $ | 32,506 | ||||||
2012 | ||||||||||||||||||
Assets(c) | ||||||||||||||||||
Financing | ||||||||||||||||||
receivables, net | $ | - | $ | 24,169 | $ | 12,456 | $ | 2,339 | $ | 1,952 | $ | 40,916 | ||||||
Investment securities | 3,435 | - | - | - | 1,051 | 4,486 | ||||||||||||
Other assets | 217 | 29 | 360 | - | 2,428 | 3,034 | ||||||||||||
Total | $ | 3,652 | $ | 24,198 | $ | 12,816 | $ | 2,339 | $ | 5,431 | $ | 48,436 | ||||||
Liabilities(c) | ||||||||||||||||||
Borrowings | $ | - | $ | - | $ | - | $ | - | $ | 711 | $ | 711 | ||||||
Non-recourse | ||||||||||||||||||
borrowings | - | 17,208 | 9,811 | 2,050 | 54 | 29,123 | ||||||||||||
Other liabilities | 1,656 | 146 | 11 | 8 | 1,215 | 3,036 | ||||||||||||
Total | $ | 1,656 | $ | 17,354 | $ | 9,822 | $ | 2,058 | $ | 1,980 | $ | 32,870 | ||||||
(a) Excludes intercompany advances from GECC to Trinity, which are eliminated in consolidation of $1,837 million and $2,441 million at December 31, 2013 and 2012, respectively. | ||||||||||||||||||
(b) 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 December 31, 2013 and 2012, the amounts of commingled cash owed to the CSEs were $6,314 million and $6,225 million, respectively, and the amounts owed to GECC by CSEs were $5,540 million and $6,143 million, respectively. | ||||||||||||||||||
(c) Asset amounts exclude intercompany receivables for cash collected on behalf of these entities by GE 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. | ||||||||||||||||||
Unconsolidated VIE | ' | |||||||||||||||||
December 31 (In millions) | 2013 | 2012 | ||||||||||||||||
Other assets and investment securities | $ | 9,129 | $ | 10,027 | ||||||||||||||
Financing receivables – net | 3,346 | 2,654 | ||||||||||||||||
Total investments | 12,475 | 12,681 | ||||||||||||||||
Contractual obligations to fund | ||||||||||||||||||
investments or guarantees | 2,741 | 2,608 | ||||||||||||||||
Revolving lines of credit | 31 | 41 | ||||||||||||||||
Total | $ | 15,247 | $ | 15,330 |
Commitments_and_Guarantees_Tab
Commitments and Guarantees (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||
Changes in the Liability for Product Warranties | ' | ||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||
Balance at January 1 | $ | 1,383 | $ | 1,507 | $ | 1,405 | |||
Current-year provisions | 745 | 611 | 866 | ||||||
Expenditures | -814 | -723 | -881 | ||||||
Other changes | 10 | -12 | 117 | ||||||
Balance at December 31 | $ | 1,324 | $ | 1,383 | $ | 1,507 | |||
Supplemental_Cash_Flows_Inform1
Supplemental Cash Flows Information (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Supplemental Cash Flow Information [Abstract] | ' | ||||||||
Certain Supplemental Information Related to GE and GECC Cash Flows | ' | ||||||||
For the years ended December 31 (In millions) | 2013 | 2012 | 2011 | ||||||
GE | |||||||||
Net dispositions (purchases) of GE shares for treasury | |||||||||
Open market purchases under share repurchase program | $ | -10,225 | $ | -5,005 | $ | -2,065 | |||
Other purchases | -91 | -110 | -100 | ||||||
Dispositions | 1,038 | 951 | 709 | ||||||
$ | -9,278 | $ | -4,164 | $ | -1,456 | ||||
GECC | |||||||||
All other operating activities | |||||||||
Amortization of intangible assets | $ | 425 | $ | 447 | $ | 562 | |||
Net realized losses on investment securities | 523 | 34 | 197 | ||||||
Cash collateral on derivative contracts | -2,271 | 2,900 | 1,247 | ||||||
Increase (decrease) in other liabilities | 2,334 | 560 | -1,344 | ||||||
Other | -912 | 1,477 | 2,465 | ||||||
$ | 99 | $ | 5,418 | $ | 3,127 | ||||
Net decrease (increase) in GECC financing receivables | |||||||||
Increase in loans to customers | $ | -311,860 | $ | -308,156 | $ | -322,270 | |||
Principal collections from customers - loans | 307,849 | 307,250 | 332,100 | ||||||
Investment in equipment for financing leases | -8,652 | -9,192 | -9,610 | ||||||
Principal collections from customers - financing leases | 9,646 | 10,976 | 12,431 | ||||||
Net change in credit card receivables | -8,058 | -8,030 | -6,243 | ||||||
Sales of financing receivables | 14,664 | 12,642 | 8,117 | ||||||
$ | 3,589 | $ | 5,490 | $ | 14,525 | ||||
All other investing activities | |||||||||
Purchases of investment securities | $ | -16,422 | $ | -15,666 | $ | -20,816 | |||
Dispositions and maturities of investment securities | 18,139 | 17,010 | 19,535 | ||||||
Decrease (increase) in other assets - investments | 1,089 | 4,338 | 2,672 | ||||||
Proceeds from sales of real estate properties | 10,680 | 3,381 | 3,152 | ||||||
Other | 1,486 | 2,731 | 3,190 | ||||||
$ | 14,972 | $ | 11,794 | $ | 7,733 | ||||
Newly issued debt (maturities longer than 90 days) | |||||||||
Short-term (91 to 365 days) | $ | 55 | $ | 59 | $ | 10 | |||
Long-term (longer than one year) | 44,833 | 55,782 | 43,257 | ||||||
$ | 44,888 | $ | 55,841 | $ | 43,267 | ||||
Repayments and other reductions (maturities | |||||||||
longer than 90 days) | |||||||||
Short-term (91 to 365 days) | $ | -52,553 | $ | -94,114 | $ | -81,918 | |||
Long-term (longer than one year) | -3,291 | -9,368 | -2,786 | ||||||
Principal payments - non-recourse, leveraged leases | -585 | -426 | -732 | ||||||
$ | -56,429 | $ | -103,908 | $ | -85,436 | ||||
All other financing activities | |||||||||
Proceeds from sales of investment contracts | $ | 491 | $ | 2,697 | $ | 4,396 | |||
Redemption of investment contracts | -980 | -5,515 | -6,230 | ||||||
Other | -420 | -49 | 42 | ||||||
$ | -909 | $ | -2,867 | $ | -1,792 |
Intercompany_Transactions_Tabl
Intercompany Transactions (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Intercompany Transactions [Abstract] | ' | ||||||||
Intercompany transactions | ' | ||||||||
For the years ended December 31 (In millions) | 2013 | 2012 | 2011 | ||||||
Cash from (used for) operating activities-continuing operations | |||||||||
Combined | $ | 34,125 | $ | 39,557 | $ | 32,669 | |||
GE customer receivables sold to GECC | 360 | -1,809 | -577 | ||||||
GECC dividends to GE | -5,985 | -6,426 | - | ||||||
Other reclassifications and eliminations | 537 | -307 | 19 | ||||||
$ | 29,037 | $ | 31,015 | $ | 32,111 | ||||
Cash from (used for) investing activities-continuing operations | |||||||||
Combined | $ | 28,182 | $ | 9,262 | $ | 21,540 | |||
GE customer receivables sold to GECC | 262 | 2,005 | 421 | ||||||
Other reclassifications and eliminations | 230 | 323 | -794 | ||||||
$ | 28,674 | $ | 11,590 | $ | 21,167 | ||||
Cash from (used for) financing activities-continuing operations | |||||||||
Combined | $ | -50,319 | $ | -57,758 | $ | -47,818 | |||
GE customer receivables sold to GECC | -622 | -196 | 156 | ||||||
GECC dividends to GE | 5,985 | 6,426 | - | ||||||
Other reclassifications and eliminations | -673 | 473 | 747 | ||||||
$ | -45,629 | $ | -51,055 | $ | -46,915 | ||||
Operating_Segments_Tables
Operating Segments (Tables) | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||||
Disclosure Operating Segment Revenue | ' | ||||||||||||||||||||||||||
Revenues | |||||||||||||||||||||||||||
Total revenues(a) | Intersegment revenues(b) | External revenues | |||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||
Power & Water | $ | 24,724 | $ | 28,299 | $ | 25,675 | $ | 947 | $ | 1,119 | $ | 794 | $ | 23,777 | $ | 27,180 | $ | 24,881 | |||||||||
Oil & Gas | 16,975 | 15,241 | 13,608 | 360 | 314 | 302 | 16,615 | 14,927 | 13,306 | ||||||||||||||||||
Energy Management | 7,569 | 7,412 | 6,422 | 848 | 487 | 504 | 6,721 | 6,925 | 5,918 | ||||||||||||||||||
Aviation | 21,911 | 19,994 | 18,859 | 500 | 672 | 417 | 21,411 | 19,322 | 18,442 | ||||||||||||||||||
Healthcare | 18,200 | 18,290 | 18,083 | 14 | 37 | 65 | 18,186 | 18,253 | 18,018 | ||||||||||||||||||
Transportation | 5,885 | 5,608 | 4,885 | 12 | 11 | 33 | 5,873 | 5,597 | 4,852 | ||||||||||||||||||
Appliances & Lighting | 8,338 | 7,967 | 7,693 | 25 | 23 | 22 | 8,313 | 7,944 | 7,671 | ||||||||||||||||||
Total industrial | 103,602 | 102,811 | 95,225 | 2,706 | 2,663 | 2,137 | 100,896 | 100,148 | 93,088 | ||||||||||||||||||
GE Capital | 44,067 | 45,364 | 48,324 | 1,150 | 1,037 | 977 | 42,917 | 44,327 | 47,347 | ||||||||||||||||||
Corporate items | |||||||||||||||||||||||||||
and eliminations(c) | -1,624 | -1,491 | 2,993 | -3,856 | -3,700 | -3,114 | 2,232 | 2,209 | 6,107 | ||||||||||||||||||
Total | $ | 146,045 | $ | 146,684 | $ | 146,542 | $ | - | $ | - | $ | - | $ | 146,045 | $ | 146,684 | $ | 146,542 | |||||||||
(a) Revenues of GE businesses include income from sales of goods and services to customers and other income. | |||||||||||||||||||||||||||
(b) Sales from one component to another generally are priced at equivalent commercial selling prices. | |||||||||||||||||||||||||||
(c) Includes the results of NBCU (our formerly consolidated subsidiary) and our former equity method investment in NBCUniversal LLC. | |||||||||||||||||||||||||||
Disclosure Operating Segment Assets | ' | ||||||||||||||||||||||||||
Property, plant and | |||||||||||||||||||||||||||
Assets(a)(b) | equipment additions(c) | Depreciation and amortization | |||||||||||||||||||||||||
At December 31 | For the years ended December 31 | For the years ended December 31 | |||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||
Power & Water | $ | 29,526 | $ | 27,174 | $ | 27,074 | $ | 714 | $ | 661 | $ | 770 | $ | 668 | $ | 647 | $ | 605 | |||||||||
Oil & Gas | 26,181 | 20,099 | 18,855 | 1,185 | 467 | 904 | 479 | 426 | 434 | ||||||||||||||||||
Energy Management | 9,962 | 9,253 | 9,835 | 137 | 155 | 414 | 323 | 287 | 239 | ||||||||||||||||||
Aviation | 32,272 | 25,144 | 23,567 | 1,178 | 781 | 699 | 677 | 644 | 569 | ||||||||||||||||||
Healthcare | 27,956 | 28,458 | 27,981 | 316 | 322 | 378 | 861 | 879 | 869 | ||||||||||||||||||
Transportation | 4,472 | 4,389 | 2,633 | 282 | 724 | 193 | 167 | 90 | 88 | ||||||||||||||||||
Appliances & Lighting | 4,237 | 4,133 | 3,675 | 405 | 485 | 268 | 300 | 265 | 260 | ||||||||||||||||||
GE Capital | 516,829 | 539,351 | 584,643 | 9,978 | 11,879 | 9,871 | 7,738 | 7,348 | 7,480 | ||||||||||||||||||
Corporate items | |||||||||||||||||||||||||||
and eliminations(d) | 5,125 | 26,998 | 19,740 | 194 | -99 | 56 | 260 | 218 | 186 | ||||||||||||||||||
Total | $ | 656,560 | $ | 684,999 | $ | 718,003 | $ | 14,389 | $ | 15,375 | $ | 13,553 | $ | 11,473 | $ | 10,804 | $ | 10,730 | |||||||||
(a) Assets of discontinued operations, NBCU (our formerly consolidated subsidiary) and our former equity method investment in NBCUniversal LLC are included in Corporate items and eliminations for all periods presented. | |||||||||||||||||||||||||||
(b) Total assets of the Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Appliances & Lighting and GE Capital operating segments at December 31, 2013, include investment in and advances to associated companies of $507 million, $108 million, $788 million, $1,463 million, $576 million, $10 million, $388 million and $17,348 million, respectively. Investments in and advances to associated companies contributed approximately $(26) million, $18 million, $3 million, $4 million, $(48) million, $0 million, $40 million and $1,809 million to segment pre-tax income of Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Appliances & Lighting and GE Capital operating segments, respectively, for the year ended December 31, 2013. Aggregate summarized financial information for significant associated companies assuming a 100% ownership interest included: total assets of $98,658 million, primarily financing receivables of $46,655 million; total liabilities of $66,535 million, primarily debt of $40,030 million; revenues totaled $22,692 million; and net earnings totaled $2,431 million. | |||||||||||||||||||||||||||
(c) Additions to property, plant and equipment include amounts relating to principal businesses purchased. | |||||||||||||||||||||||||||
(d) Includes deferred income taxes that are presented as assets for purposes of our consolidating balance sheet presentation. | |||||||||||||||||||||||||||
Disclosure Operating Segment Interest And Financial Charges and Provision for Income Taxes | ' | ||||||||||||||||||||||||||
Interest and other financial charges | Provision (benefit) for income taxes | ||||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||
GE Capital | $ | 9,267 | $ | 11,596 | $ | 13,760 | $ | -992 | $ | 521 | $ | 906 | |||||||||||||||
Corporate items and eliminations(a) | 849 | 811 | 662 | 1,668 | 2,013 | 4,839 | |||||||||||||||||||||
Total | $ | 10,116 | $ | 12,407 | $ | 14,422 | $ | 676 | $ | 2,534 | $ | 5,745 | |||||||||||||||
(a) Included amounts for Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Appliances & Lighting, for which our measure of segment profit excludes interest and other financial charges and income taxes. | |||||||||||||||||||||||||||
Quarterly_Information_unaudite1
Quarterly Information (unaudited) (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Selected Quarterly Financial Information [Abstract] | ' | |||||||||||||||||||||||
Quaterly Information | ' | |||||||||||||||||||||||
First quarter | Second quarter | Third quarter | Fourth quarter | |||||||||||||||||||||
(In millions; per-share amounts in dollars) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||
Consolidated operations | ||||||||||||||||||||||||
Earnings from continuing operations | $ | 3,631 | $ | 3,257 | $ | 3,423 | $ | 3,681 | $ | 3,272 | $ | 3,460 | $ | 5,149 | $ | 4,449 | ||||||||
Earnings (loss) from discontinued | ||||||||||||||||||||||||
operations | -120 | -185 | -124 | -543 | -91 | 48 | -1,785 | -303 | ||||||||||||||||
Net earnings | 3,511 | 3,072 | 3,299 | 3,138 | 3,181 | 3,508 | 3,364 | 4,146 | ||||||||||||||||
Less net earnings attributable to | ||||||||||||||||||||||||
noncontrolling interests | -16 | 38 | 166 | 33 | -10 | 17 | 158 | 135 | ||||||||||||||||
Net earnings attributable to | ||||||||||||||||||||||||
the Company | $ | 3,527 | $ | 3,034 | $ | 3,133 | $ | 3,105 | $ | 3,191 | $ | 3,491 | $ | 3,206 | $ | 4,011 | ||||||||
Per-share amounts – earnings from | ||||||||||||||||||||||||
continuing operations | ||||||||||||||||||||||||
Diluted earnings per share | $ | 0.35 | $ | 0.3 | $ | 0.31 | $ | 0.34 | $ | 0.32 | $ | 0.33 | $ | 0.49 | $ | 0.41 | ||||||||
Basic earnings per share | 0.35 | 0.3 | 0.32 | 0.34 | 0.32 | 0.33 | 0.49 | 0.41 | ||||||||||||||||
Per-share amounts – earnings (loss) | ||||||||||||||||||||||||
from discontinued operations | ||||||||||||||||||||||||
Diluted earnings per share | -0.01 | -0.02 | -0.01 | -0.05 | -0.01 | - | -0.18 | -0.03 | ||||||||||||||||
Basic earnings per share | -0.01 | -0.02 | -0.01 | -0.05 | -0.01 | - | -0.18 | -0.03 | ||||||||||||||||
Per-share amounts – net earnings | ||||||||||||||||||||||||
Diluted earnings per share | 0.34 | 0.29 | 0.3 | 0.29 | 0.31 | 0.33 | 0.32 | 0.38 | ||||||||||||||||
Basic earnings per share | 0.34 | 0.29 | 0.3 | 0.29 | 0.31 | 0.33 | 0.32 | 0.38 | ||||||||||||||||
Selected data | ||||||||||||||||||||||||
GE | ||||||||||||||||||||||||
Sales of goods and services | $ | 22,303 | $ | 23,687 | $ | 24,623 | $ | 25,138 | $ | 25,262 | $ | 24,749 | $ | 28,826 | $ | 27,301 | ||||||||
Gross profit from sales | 4,867 | 5,653 | 6,007 | 5,800 | 5,691 | 6,025 | 6,819 | 8,341 | ||||||||||||||||
GECC | ||||||||||||||||||||||||
Total revenues | 11,468 | 11,267 | 10,916 | 11,285 | 10,606 | 11,207 | 11,077 | 11,605 | ||||||||||||||||
Earnings from continuing operations | ||||||||||||||||||||||||
attributable to the Company | 1,938 | 1,760 | 1,924 | 2,112 | 1,903 | 1,668 | 2,493 | 1,805 |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
Summary of Significant Accounting Policies [Abstract] | ' | ' | ' |
Percentage Of Voting Interest For Which Company Would Determine That They Have Controlling Financial Interest | 50.00% | ' | ' |
Lower Range Of Voting Interest Unconsolidated VIE For Which Company Has Significant Influence Over | 20.00% | ' | ' |
Upper Range Of Voting Interest Unconsolidated VIE For Which Company Has Significant Influence Over | 50.00% | ' | ' |
Maximum Number Of Days Account Can Be Past Due Before Accrual Of Interest Stops | 90 | ' | ' |
Consumer Credit Card Receivables Previously Classified Nonaccrual And Nonearning Returned To Accrual Status | $1,051 | ' | ' |
Real Estate And CLL Receivables Previously Classified Nonaccrual Returned To Accrual Status | 1,524 | ' | ' |
Financing Receivables Previously Classified Nonaccrual And Accounted For On Cash Basis Returned To Accrual Status | 2,174 | ' | ' |
Percentage In Excess Of Which Real Estate Projected Loan To Value Ratio At Maturity Is Evaluated For Impairment Classification | 100.00% | ' | ' |
Number Of Days Past Due Delinquent Receivable | 30 | ' | ' |
Number Of Days Past Due Unsecured Closed End Installment Loans Are Written Off | 120 | ' | ' |
Number Of Days Past Due Unsecured Open Ended Revolving Loans Are Written Off | 180 | ' | ' |
Number Of Days Past Due Consumer Loans Secured By Collateral Other Than Residential Real Estate Write Off | 120 | ' | ' |
Number Of Days Past Due Consumer Loans Secured By Residential Real Estate Before Written Down To Fair Value Of Collateral Less Costs To Sell | 180 | ' | ' |
Number Of Days Past Due Consumer Credit Card Accounts Write Off | '180 | '90 | ' |
Number Of Days Past Due Unsecured Consumer Loans In Bankruptcy Before Written Off | 60 | ' | ' |
Number Of Days After Initial Recognition Of Specific Reserve For Collateral Depecendent Loan Write Offs Recognized | 360 | ' | ' |
Number of Days Commercial Smaller Balance Homogeneous Loans Are Written Off | 180 | ' | ' |
Percentage of LIFO Inventory | 39.00% | ' | 37.00% |
Increase Decrease In Financing Receivables | 271 | ' | ' |
Overall Impact Of Adoption Of ASU 2009-13 and ASU 2009-14 | 'insignificant | ' | ' |
Troubled Debt Restructuring [Member] | Adjustments for New Accounting Pronouncement [Member] | ' | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Allowance for Loan and Lease Losses, Period Increase (Decrease) | $77 | ' | ' |
Assets_and_Liabilities_of_Busi2
Assets and Liabilities of Businesses Held For Sale and Discontinued Operations (Narrative, Financial Information and NBCU) (Details) (USD $) | 12 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 3 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 19, 2013 | Mar. 19, 2013 | Oct. 02, 2012 | Mar. 19, 2013 | Jan. 28, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 28, 2011 | Jul. 15, 2013 | Dec. 02, 2013 | Sep. 30, 2012 |
Sale Of Rockefeller Center [Member] | Commercial Real Estate Portfolio Segment [Member] | Business Property [Member] | NBCU LLC [Member] | NBCU LLC [Member] | NBCU LLC [Member] | NBCU LLC [Member] | Comcast [Member] | Portugal Consumer Auto Personal Loan [Member] | Machining And Fabrication Business [Member] | South Korea CLL [Member] | ||||
Sale Of Rockefeller Center [Member] | ||||||||||||||
Financial Information For Businesses Held For Sale [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Sale of Real Estate Held-for-investment | ' | ' | ' | $1,430 | ' | $2,406 | ' | ' | ' | ' | ' | ' | ' | ' |
Summarized financial information for business held for sale | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets Held-for-sale, at Carrying Value | 50 | 211 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Liabilities of Assets Held-for-sale | 6 | 157 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ownership Percentage In Newly Formed Entity | ' | ' | ' | ' | ' | ' | ' | 49.00% | 49.00% | ' | 51.00% | ' | ' | ' |
Equity Method Investment, Ownership Percentage | ' | ' | ' | ' | ' | ' | 49.00% | ' | ' | ' | ' | ' | ' | ' |
Transaction Related Cost Reimbursements Related To Sale Of Business | ' | ' | ' | ' | ' | ' | ' | 49 | ' | ' | ' | ' | ' | ' |
Proceeds from Divestiture of Businesses, Net of Cash Divested | 528 | 227 | 8,950 | ' | ' | ' | 11,997 | 6,176 | ' | ' | ' | 83 | 108 | 168 |
Guaranteed Debt Included In Sale Of Asset | ' | ' | ' | ' | ' | ' | 4,000 | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, Value, Issued | 0 | 0 | 0 | ' | ' | ' | 725 | ' | ' | ' | ' | ' | ' | ' |
Consideration Received For Sale Of Business | ' | ' | ' | ' | ' | ' | 16,722 | ' | ' | ' | ' | ' | ' | ' |
Pre Tax Gain On Sale Of Business | ' | ' | ' | ' | 921 | ' | 1,096 | 3,705 | ' | ' | ' | ' | ' | ' |
Gain On Sale Of Business Net Of Tax | ' | ' | ' | ' | 564 | ' | 825 | 526 | ' | ' | ' | ' | ' | ' |
Income Tax Expense (Benefit) | 676 | 2,534 | 5,745 | ' | ' | ' | ' | 3,179 | ' | ' | ' | ' | ' | ' |
Equity Method Investments | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,887 | ' | ' | ' | ' |
Deferred income taxes | $28,233 | $31,675 | ' | ' | ' | ' | ' | ' | ' | $4,937 | ' | ' | ' | ' |
Assets_and_Liabilities_of_Busi3
Assets and Liabilities of Businesses Held For Sale and Discontinued Operations (Discontinued Operations) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | $186 | $191 | $1,074 |
Earnings (loss) from discontinued operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -494 | -586 | -93 |
Benefit (provision) for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 155 | 198 | 100 |
Income (Loss) from Discontinued Operations, Net of Taxes | ' | ' | ' | ' | ' | ' | ' | ' | -339 | -388 | 7 |
Disposal | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (loss) on disposal before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -2,027 | -792 | -329 |
Benefit (provision) for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 246 | 197 | 351 |
Gain (loss) on disposal, net of taxes | ' | ' | ' | ' | ' | ' | ' | ' | -1,781 | -595 | 22 |
Earnings (loss) from discontinued operations, net of taxes | -1,785 | -91 | -124 | -120 | -303 | 48 | -543 | -185 | -2,120 | -983 | 29 |
Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 232 | ' | ' | ' | 191 | ' | ' | ' | 232 | 191 | ' |
Financing Receivables - net | 711 | ' | ' | ' | 793 | ' | ' | ' | 711 | 793 | ' |
Property, plant and equipment - net | 6 | ' | ' | ' | 706 | ' | ' | ' | 6 | 706 | ' |
Other | 1,390 | ' | ' | ' | 1,625 | ' | ' | ' | 1,390 | 1,625 | ' |
Assets of discontinued operations | 2,339 | ' | ' | ' | 3,315 | ' | ' | ' | 2,339 | 3,315 | ' |
Liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred income taxes | 248 | ' | ' | ' | 372 | ' | ' | ' | 248 | 372 | ' |
Other | 3,685 | ' | ' | ' | 2,361 | ' | ' | ' | 3,685 | 2,361 | ' |
Liabilities of discontinued operations | $3,933 | ' | ' | ' | $2,733 | ' | ' | ' | $3,933 | $2,733 | ' |
Assets_and_Liabilities_of_Busi4
Assets and Liabilities of Businesses Held For Sale and Discontinued Operations (GE Money Japan Narrative) (Details) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Feb. 26, 2014 | Feb. 26, 2014 | Dec. 31, 2013 |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | GE Money Japan [Member] | GE Money Japan [Member] | GE Money Japan [Member] | GE Money Japan [Member] | GE Money Japan [Member] | GE Money Japan [Member] | GE Money Japan [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | JPY (¥) | JPY (¥) | ||||||||||||
Financial Information For Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax Credit Carryforward, Expiration Date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-17 | ' | ' | ' | ' | ' |
Other Partial Tax Credit Carryforward Expiration Date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-19 | ' | ' | ' | ' | ' |
Gain (loss) on disposal of discontinued operations | ' | ' | ' | ' | ' | ' | ' | ' | $1,781 | $595 | ($22) | ' | ' | ' | ' | ' | ' | ' |
Liability For Reimbursement Of Claims In Excess Of Statutory Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,836 | 700 | ' | ' | ' | ' |
Threshold above which claims become company's responsibility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000 | 3,000 | ' | ' | ' | ' | 258,000 |
Loss from discontinued operations, net of taxes | 1,785 | 91 | 124 | 120 | 303 | -48 | 543 | 185 | 2,120 | 983 | -29 | ' | ' | ' | ' | ' | ' | ' |
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax | ' | ' | ' | ' | ' | ' | ' | ' | -2,027 | -792 | -329 | ' | ' | ' | ' | ' | ' | ' |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | ' | ' | ' | ' | ' | ' | ' | ' | -2,120 | -983 | 29 | ' | -1,636 | -649 | -238 | ' | ' | ' |
Valuation Allowances and Reserves, Period Increase (Decrease) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,440 | 1,645 | ' | ' | ' | ' | ' |
Claim Payments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 361 | ' | ' | ' | ' | ' |
Effects Of Strengthening US Dollar Against Japanese Yen | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 148 | ' | ' | ' | ' | ' |
Buyout Payment To Extinguish Obligation Under Sale Agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,700 | ¥ 175,000 | ' |
Assets_and_Liabilities_of_Busi5
Assets and Liabilities of Businesses Held For Sale and Discontinued Operations (WMC) (Details) (USD $) | 2 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 27, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Roll Forward Of Reserve And Pending Claims [Abstract] | ' | ' | ' | ' |
Revenues from discontinued operations | ' | $186 | $191 | $1,074 |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | ' | -2,120 | -983 | 29 |
WMC Discontinued Operations [Member] | ' | ' | ' | ' |
Financial Information For Discontinued Operations [Line Items] | ' | ' | ' | ' |
Adjustment For Pending Claims For Unmet Representations And Warranties | ' | 167 | ' | ' |
Roll Forward Of Reserve And Pending Claims [Abstract] | ' | ' | ' | ' |
Reserve, beginning of period | 800 | 633 | 143 | ' |
Provision | ' | 354 | 500 | ' |
Claim resolutions | ' | -187 | -10 | ' |
Reserve, end of period | ' | 800 | 633 | 143 |
Pending claims, beginning of period | 5,643 | 5,357 | 705 | ' |
New claims | ' | 1,259 | 4,838 | ' |
Claim resolutions | 123 | -973 | -186 | ' |
Pending claims, end of period | ' | 5,643 | 5,357 | 705 |
Percentage Increase To Estimated Loss On Loans Tendered | ' | 100.00% | ' | ' |
Increase To Reserve For Claims For Unmet Representations And Warranties For Adverse Effect In Assumptions | ' | 525 | ' | ' |
Number Of Lawsuits Involving Repurchase Claims On Loans | 14 | 17 | ' | ' |
Number Of Securitizations Related To Lawsuits Involving repurchase Claims On Loans In Which Adverse Parties Are Securitization Trustees | ' | 15 | ' | ' |
Number Of Lawsuits Involving Repurchase Claims On Loans Based On Breach Of Contract Claims On Mortgage Loans | ' | 12 | ' | ' |
Number Of Lawsuits Involving Repurchase Claims On Loans Initiated By Divested Business | 'one | ' | ' | ' |
Number Of Litigation Claims That Are Samplings Based Claims | ' | 'two | ' | ' |
Loss Contingency, Claims Dismissed, Number | 3 | ' | ' | ' |
Decrease In Litigation Claims | 318 | ' | ' | ' |
Sampling Based Litigation Claims Amount Of Mortgages | ' | 600 | ' | ' |
Number Of Litigation Claims Based On Alleged Failure To Provide Notice On Defective Loans Breach Of Corporate Representation And Warranty On Non Specific Claims for Recessionary Damages | ' | 'ten | ' | ' |
Liabilities Related To Remaining Litigation Claims | ' | 6,200 | ' | ' |
Post Statute Of Limitation Claims | ' | 2,200 | ' | ' |
Post Statute Of Limitation Litigation Claims | ' | 1,700 | ' | ' |
Revenues from discontinued operations | ' | -346 | -500 | -42 |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | ' | ($232) | ($337) | ($34) |
Assets_and_Liabilities_of_Busi6
Assets and Liabilities of Businesses Held For Sale and Discontinued Operations (Other Financial Services and Industrial) (Details) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 |
Consumer Russia [Member] | Consumer Russia [Member] | Consumer Russia [Member] | Trailer Services [Member] | Trailer Services [Member] | Trailer Services [Member] | Consumer Ireland [Member] | Consumer Ireland [Member] | Consumer Ireland [Member] | Consumer Ireland [Member] | Australian Home Lending [Member] | Australian Home Lending [Member] | Australian Home Lending [Member] | Australian Home Lending [Member] | Consumer Singapore [Member] | Consumer Singapore [Member] | Consumer Singapore [Member] | Consumer Singapore [Member] | Consumer RV Marine [Member] | Consumer RV Marine [Member] | Consumer RV Marine [Member] | Consumer RV Marine [Member] | Consumer Mexico [Member] | Consumer Mexico [Member] | Consumer Mexico [Member] | Consumer Mexico [Member] | GE Industrial Discontinued Operations [Member] | GE Industrial Discontinued Operations [Member] | GE Industrial Discontinued Operations [Member] | Plastics Business [Member] | ||||
Financial Information For Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from discontinued operations | $186 | $191 | $1,074 | $260 | $276 | $280 | $271 | $399 | $464 | ' | ' | $7 | $13 | ' | ' | $4 | $250 | ' | $1 | ' | $30 | ' | ' | $1 | $11 | ' | ' | $2 | $67 | ' | ' | ' | ' |
Discontinued Operation Revenue Insignificant Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'insignificant amount | ' | ' | ' | 'insignificant amount | ' | ' | ' | ' | 'insignificant amount | ' | ' | 'insignificant amount | ' | ' | ' | 'insignificant amount | ' | ' | ' | ' | ' | ' |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | -2,120 | -983 | 29 | -193 | 33 | 87 | -2 | 22 | 17 | ' | 6 | -195 | -153 | ' | 14 | 6 | -65 | ' | 1 | 2 | 333 | ' | -1 | 2 | ' | ' | -11 | -12 | 30 | -66 | 147 | -1 | ' |
Income (Loss) From Discontinued Operations Net Of Tax Attributable To Reporting Entity Insignificant Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'insignificant amount | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discontinued Operation, Provision for Loss (Gain) on Disposal, Net of Tax | ' | ' | ' | 170 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (loss) on disposal of discontinued operations | -1,781 | -595 | 22 | ' | ' | ' | 18 | ' | ' | ' | ' | -121 | ' | ' | ' | ' | 148 | ' | ' | ' | 319 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Divestiture of Businesses, Net of Cash Divested | 528 | 227 | 8,950 | ' | ' | ' | 528 | ' | ' | 227 | ' | ' | ' | 4,577 | ' | ' | ' | ' | ' | ' | ' | 2,365 | ' | ' | ' | 1,943 | ' | ' | ' | ' | ' | ' | ' |
Benefit (provision) for income taxes | -676 | -2,534 | -5,745 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 148 |
Agreed Upon Selling Price Of Disposal Business | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $692 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment_Securities_Investme
Investment Securities (Investment) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | ||||
Investment [Line Items] | ' | ' | ||
Investments | $43,981 | $48,510 | ||
Consolidation, Eliminations [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Marketable securities, Gross unrealized gain | 0 | 0 | ||
Marketable securities, Gross unrealized loss | 0 | 0 | ||
Consolidation, Eliminations [Member] | Amortized Cost [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Marketable Securities | -4 | -3 | ||
Consolidation, Eliminations [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Marketable Securities | -4 | -3 | ||
Total [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Marketable securities, Gross unrealized gain | 3,256 | 5,744 | ||
Marketable securities, Gross unrealized loss | -749 | -838 | ||
Total [Member] | Amortized Cost [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Marketable Securities | 41,474 | 43,604 | ||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Investments | 686 | ' | ||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Investments | 1,224 | ' | ||
Subsidiaries [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Investments | 323 | [1] | 74 | [1] |
Subsidiaries [Member] | Domestic Corporate Debt Securities [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt and AFS securities, Amortized cost | 21 | 39 | ||
Debt securities, Gross unrealized gains | 14 | 0 | ||
Debt securities, Gross unrealized losses | 0 | 0 | ||
Subsidiaries [Member] | Domestic Corporate Debt Securities [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt securities, Estimated fair value | 35 | 39 | ||
Subsidiaries [Member] | Foreign Corporate Debt Securities [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt and AFS securities, Amortized cost | 13 | 6 | ||
Debt securities, Gross unrealized gains | 0 | 0 | ||
Debt securities, Gross unrealized losses | -1 | 0 | ||
Subsidiaries [Member] | Foreign Corporate Debt Securities [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt securities, Estimated fair value | 12 | 6 | ||
Subsidiaries [Member] | Available-for-sale Securities [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt and AFS securities, Amortized cost | 302 | 26 | ||
Marketable securities, Gross unrealized gain | 9 | 0 | ||
Available-for-sale Equity Securities, Gross Unrealized Loss | -41 | 0 | ||
Subsidiaries [Member] | Available-for-sale Securities [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Available-for-sale Securities, Equity, Estimated fair value | 270 | 26 | ||
Subsidiaries [Member] | Trading Securities [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Trading Securities, Unrealized Holding Gain | 0 | 0 | ||
Trading Securities, Unrealized Holding Loss | 0 | 0 | ||
Subsidiaries [Member] | Trading Securities [Member] | Amortized Cost [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Trading Securities | 6 | 3 | ||
Subsidiaries [Member] | Trading Securities [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Trading Securities | 6 | 3 | ||
Subsidiaries [Member] | Sub Total [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Marketable securities, Gross unrealized gain | 23 | 0 | ||
Marketable securities, Gross unrealized loss | -42 | 0 | ||
Subsidiaries [Member] | Sub Total [Member] | Amortized Cost [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Marketable Securities | 342 | 74 | ||
Subsidiaries GECC [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Investments | 43,662 | 48,439 | ||
Subsidiaries GECC [Member] | Domestic Corporate Debt Securities [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt and AFS securities, Amortized cost | 19,600 | 20,233 | ||
Debt securities, Gross unrealized gains | 2,323 | 4,201 | ||
Debt securities, Gross unrealized losses | -217 | -302 | ||
Subsidiaries GECC [Member] | Domestic Corporate Debt Securities [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt securities, Estimated fair value | 21,706 | 24,132 | ||
Subsidiaries GECC [Member] | US States and Political Subdivisions Debt Securities [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt and AFS securities, Amortized cost | 4,245 | 4,084 | ||
Debt securities, Gross unrealized gains | 235 | 575 | ||
Debt securities, Gross unrealized losses | -191 | -113 | ||
Subsidiaries GECC [Member] | US States and Political Subdivisions Debt Securities [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt securities, Estimated fair value | 4,289 | 4,546 | ||
Subsidiaries GECC [Member] | Residential Mortgage Backed Securities [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt and AFS securities, Amortized cost | 1,819 | 2,198 | ||
Debt securities, Gross unrealized gains | 139 | 183 | ||
Debt securities, Gross unrealized losses | -48 | -119 | ||
Subsidiaries GECC [Member] | Residential Mortgage Backed Securities [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt securities, Estimated fair value | 1,910 | 2,262 | ||
Subsidiaries GECC [Member] | Commercial Mortgage Backed Securities [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt and AFS securities, Amortized cost | 2,929 | 2,930 | ||
Debt securities, Gross unrealized gains | 188 | 259 | ||
Debt securities, Gross unrealized losses | -82 | -95 | ||
Subsidiaries GECC [Member] | Commercial Mortgage Backed Securities [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt securities, Estimated fair value | 3,035 | 3,094 | ||
Subsidiaries GECC [Member] | Asset-backed Securities [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt and AFS securities, Amortized cost | 7,373 | 5,784 | ||
Debt securities, Gross unrealized gains | 60 | 31 | ||
Debt securities, Gross unrealized losses | -46 | -77 | ||
Subsidiaries GECC [Member] | Asset-backed Securities [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt securities, Estimated fair value | 7,387 | 5,738 | ||
Subsidiaries GECC [Member] | Foreign Corporate Debt Securities [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt and AFS securities, Amortized cost | 1,741 | 2,391 | ||
Debt securities, Gross unrealized gains | 103 | 150 | ||
Debt securities, Gross unrealized losses | -86 | -126 | ||
Subsidiaries GECC [Member] | Foreign Corporate Debt Securities [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt securities, Estimated fair value | 1,758 | 2,415 | ||
Subsidiaries GECC [Member] | Foreign Government Debt Securities [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt and AFS securities, Amortized cost | 2,336 | 1,617 | ||
Debt securities, Gross unrealized gains | 81 | 149 | ||
Debt securities, Gross unrealized losses | -7 | -3 | ||
Subsidiaries GECC [Member] | Foreign Government Debt Securities [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt securities, Estimated fair value | 2,410 | 1,763 | ||
Subsidiaries GECC [Member] | US Treasury and Government [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt securities, Gross unrealized gains | 45 | 103 | ||
Debt securities, Gross unrealized losses | -27 | 0 | ||
Subsidiaries GECC [Member] | US Treasury and Government [Member] | Amortized Cost [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt and AFS securities, Amortized cost | 752 | 3,462 | ||
Subsidiaries GECC [Member] | US Treasury and Government [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt securities, Estimated fair value | 770 | 3,565 | ||
Subsidiaries GECC [Member] | Retained Interest [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt and AFS securities, Amortized cost | 64 | 76 | ||
Marketable securities, Gross unrealized gain | 8 | 7 | ||
Marketable securities, Gross unrealized loss | 0 | 0 | ||
Retained interests, Estimated fair value | 72 | 83 | ||
Subsidiaries GECC [Member] | Available-for-sale Securities [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt and AFS securities, Amortized cost | 203 | 513 | ||
Marketable securities, Gross unrealized gain | 51 | 86 | ||
Available-for-sale Equity Securities, Gross Unrealized Loss | -3 | -3 | ||
Available-for-sale Securities, Equity, Estimated fair value | 251 | 596 | ||
Subsidiaries GECC [Member] | Trading Securities [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Trading Securities, Unrealized Holding Gain | 0 | 0 | ||
Trading Securities, Unrealized Holding Loss | 0 | 0 | ||
Subsidiaries GECC [Member] | Trading Securities [Member] | Amortized Cost [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Trading Securities | 74 | 245 | ||
Subsidiaries GECC [Member] | Trading Securities [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Trading Securities | 74 | 245 | ||
Subsidiaries GECC [Member] | Sub Total [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Marketable securities, Gross unrealized gain | 3,233 | 5,744 | ||
Marketable securities, Gross unrealized loss | -707 | -838 | ||
Subsidiaries GECC [Member] | Sub Total [Member] | Amortized Cost [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Marketable Securities | $41,136 | $43,533 | ||
[1] | (a)Â Â Â Â Â Â Â Â 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_Investme1
Investment Securities (Investments, by type and length in continuous loss position) (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | ' | ' | ' | ' |
OTTI Previously Recognized Through OCI On Securities Held, Gross Unrealized Losses | ($99) | ' | ' | ' |
Marketable securities OTTI amounts | 798 | 193 | 467 | ' |
Cumulative impairments recognized in earnings associated with debt securities | ' | 588 | 726 | 500 |
Marketable securities OTTI recorded in AOCI | 31 | 52 | 80 | ' |
Marketable Securities, Realized Loss, Other than Temporary Impairments, Amount | 767 | 141 | 387 | ' |
Incremental Charges On Previously Impaired Investment Securities | 336 | 40 | 230 | ' |
Residential Subprime Exposure | 378 | 471 | ' | ' |
Residential Subprime Exposure Insured By Monolines | 285 | 219 | ' | ' |
Other Than Temporary Impairment Related To Equity Securities | 15 | 39 | 81 | ' |
Other Than Temporary First Time Impairments Of Investment Securities Recognized In Earnings | 389 | 27 | 58 | ' |
Other Than Temporary Impairment Related To Securities Subsequently Sold | 120 | 219 | 62 | ' |
Domestic Corporate Debt Securities [Member] | ' | ' | ' | ' |
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | ' | ' | ' | ' |
Estimated fair value, less than 12 months | 2,170 | 434 | ' | ' |
Gross unrealized losses, less than 12 months | -122 | -7 | ' | ' |
Estimated fair value, 12 months or more | 598 | 813 | ' | ' |
Gross unrealized losses, 12 months or more | -95 | -295 | ' | ' |
US States and Political Subdivisions Debt Securities [Member] | ' | ' | ' | ' |
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | ' | ' | ' | ' |
Estimated fair value, less than 12 months | 1,076 | 146 | ' | ' |
Gross unrealized losses, less than 12 months | -82 | -2 | ' | ' |
Estimated fair value, 12 months or more | 367 | 326 | ' | ' |
Gross unrealized losses, 12 months or more | -109 | -111 | ' | ' |
Residential Mortgage Backed Securities [Member] | ' | ' | ' | ' |
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | ' | ' | ' | ' |
Estimated fair value, less than 12 months | 232 | 98 | ' | ' |
Gross unrealized losses, less than 12 months | -11 | -1 | ' | ' |
Estimated fair value, 12 months or more | 430 | 691 | ' | ' |
Gross unrealized losses, 12 months or more | -37 | -118 | ' | ' |
Commercial Mortgage Backed Securities [Member] | ' | ' | ' | ' |
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | ' | ' | ' | ' |
Estimated fair value, less than 12 months | 396 | 37 | ' | ' |
Gross unrealized losses, less than 12 months | -24 | 0 | ' | ' |
Estimated fair value, 12 months or more | 780 | 979 | ' | ' |
Gross unrealized losses, 12 months or more | -58 | -95 | ' | ' |
Asset-backed Securities [Member] | ' | ' | ' | ' |
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | ' | ' | ' | ' |
Estimated fair value, less than 12 months | 112 | 18 | ' | ' |
Gross unrealized losses, less than 12 months | -2 | -1 | ' | ' |
Estimated fair value, 12 months or more | 359 | 658 | ' | ' |
Gross unrealized losses, 12 months or more | -44 | -76 | ' | ' |
Foreign Corporate Debt Securities [Member] | ' | ' | ' | ' |
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | ' | ' | ' | ' |
Estimated fair value, less than 12 months | 108 | 167 | ' | ' |
Gross unrealized losses, less than 12 months | -4 | -8 | ' | ' |
Estimated fair value, 12 months or more | 454 | 602 | ' | ' |
Gross unrealized losses, 12 months or more | -83 | -118 | ' | ' |
Foreign Government Debt Securities [Member] | ' | ' | ' | ' |
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | ' | ' | ' | ' |
Estimated fair value, less than 12 months | 1,479 | 201 | ' | ' |
Gross unrealized losses, less than 12 months | -6 | -1 | ' | ' |
Estimated fair value, 12 months or more | 42 | 37 | ' | ' |
Gross unrealized losses, 12 months or more | -1 | -2 | ' | ' |
US Treasury and Government [Member] | ' | ' | ' | ' |
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | ' | ' | ' | ' |
Estimated fair value, less than 12 months | 229 | 0 | ' | ' |
Gross unrealized losses, less than 12 months | -27 | 0 | ' | ' |
Estimated fair value, 12 months or more | 254 | 0 | ' | ' |
Gross unrealized losses, 12 months or more | 0 | 0 | ' | ' |
Retained Interest [Member] | ' | ' | ' | ' |
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | ' | ' | ' | ' |
Estimated fair value, less than 12 months | 2 | 3 | ' | ' |
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 [Member] | ' | ' | ' | ' |
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | ' | ' | ' | ' |
Estimated fair value, less than 12 months | 253 | 26 | ' | ' |
Gross unrealized losses, less than 12 months | -44 | -3 | ' | ' |
Estimated fair value, 12 months or more | 0 | 0 | ' | ' |
Gross unrealized losses, 12 months or more | 0 | 0 | ' | ' |
Total [Member] | ' | ' | ' | ' |
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | ' | ' | ' | ' |
Estimated fair value, less than 12 months | 6,057 | 1,130 | ' | ' |
Gross unrealized losses, less than 12 months | -322 | -23 | ' | ' |
Estimated fair value, 12 months or more | 3,284 | 4,106 | ' | ' |
Gross unrealized losses, 12 months or more | ($427) | ($815) | ' | ' |
Investment_Securities_Contract
Investment Securities (Contractual maturities) (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Investment [Line Items] | ' |
Within one year | $2,397 |
After one year through five years | 3,303 |
After five years through ten years | 4,984 |
After ten years | 18,024 |
Within one year | 2,417 |
After one year through five years | 3,506 |
After five years through ten years | 5,156 |
After ten years | $19,901 |
Investment_Securities_Gross_Re
Investment Securities (Gross Realized Gain Losses) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Available For Sale Investment Securities Gross Realized Gain Losses [Line Items] | ' | ' | ' |
Total | ($542) | ($35) | ($197) |
Proceeds from Sale of Available-for-sale Securities | 19,276 | 12,745 | 15,606 |
Net pre-tax gains (loss) on trading securities | 48 | 20 | 22 |
Subsidiaries [Member] | ' | ' | ' |
Available For Sale Investment Securities Gross Realized Gain Losses [Line Items] | ' | ' | ' |
Gains | 1 | 0 | 0 |
Losses, including impairments | -20 | -1 | 0 |
Total | -19 | -1 | 0 |
Subsidiaries GECC [Member] | ' | ' | ' |
Available For Sale Investment Securities Gross Realized Gain Losses [Line Items] | ' | ' | ' |
Gains | 239 | 177 | 205 |
Losses, including impairments | -762 | -211 | -402 |
Total | ($523) | ($34) | ($197) |
Current_Receivables_Details
Current Receivables (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
In Millions, unless otherwise specified | |||||
Accounts Receivable, Current | ' | ' | ' | ||
Current receivables | $21,835 | $20,364 | ' | ||
Less allowance for losses | -447 | -462 | ' | ||
Total | 21,388 | 19,902 | ' | ||
Accounts Receivable, Net [Abstract] | ' | ' | ' | ||
Accounts receivable current from sale of goods and services to customers | 7,441 | 6,283 | ' | ||
Accounts receivable, related parties, current | 37 | 70 | ' | ||
Current receivables from sale of goods and services to US government agencies | 127 | 114 | ' | ||
Percentage sales of goods and services to U.S. government | 4.00% | 4.20% | 4.40% | ||
Power And Water [Member] | ' | ' | ' | ||
Accounts Receivable, Current | ' | ' | ' | ||
Current receivables | 3,895 | 2,977 | ' | ||
Oil And Gas [Member] | ' | ' | ' | ||
Accounts Receivable, Current | ' | ' | ' | ||
Current receivables | 5,444 | 4,656 | ' | ||
Energy Management [Member] | ' | ' | ' | ||
Accounts Receivable, Current | ' | ' | ' | ||
Current receivables | 1,540 | 1,600 | ' | ||
Aviation [Member] | ' | ' | ' | ||
Accounts Receivable, Current | ' | ' | ' | ||
Current receivables | 4,307 | 4,756 | ' | ||
Healthcare [Member] | ' | ' | ' | ||
Accounts Receivable, Current | ' | ' | ' | ||
Current receivables | 4,398 | 4,253 | ' | ||
Transportation [Member] | ' | ' | ' | ||
Accounts Receivable, Current | ' | ' | ' | ||
Current receivables | 526 | 485 | ' | ||
Appliances And Lighting [Member] | ' | ' | ' | ||
Accounts Receivable, Current | ' | ' | ' | ||
Current receivables | 1,337 | 1,286 | ' | ||
Corporate Items And Eliminations [Member] | ' | ' | ' | ||
Accounts Receivable, Current | ' | ' | ' | ||
Current receivables | 388 | 351 | ' | ||
Subsidiaries [Member] | ' | ' | ' | ||
Accounts Receivable, Current | ' | ' | ' | ||
Current receivables | 11,412 | 9,730 | ' | ||
Less allowance for losses | -442 | -456 | ' | ||
Total | 10,970 | [1] | 9,274 | [1] | ' |
Subsidiaries [Member] | Power And Water [Member] | ' | ' | ' | ||
Accounts Receivable, Current | ' | ' | ' | ||
Current receivables | 2,335 | 1,700 | ' | ||
Subsidiaries [Member] | Oil And Gas [Member] | ' | ' | ' | ||
Accounts Receivable, Current | ' | ' | ' | ||
Current receivables | 3,134 | 1,872 | ' | ||
Subsidiaries [Member] | Energy Management [Member] | ' | ' | ' | ||
Accounts Receivable, Current | ' | ' | ' | ||
Current receivables | 686 | 800 | ' | ||
Subsidiaries [Member] | Aviation [Member] | ' | ' | ' | ||
Accounts Receivable, Current | ' | ' | ' | ||
Current receivables | 2,260 | 2,493 | ' | ||
Subsidiaries [Member] | Healthcare [Member] | ' | ' | ' | ||
Accounts Receivable, Current | ' | ' | ' | ||
Current receivables | 2,029 | 2,012 | ' | ||
Subsidiaries [Member] | Transportation [Member] | ' | ' | ' | ||
Accounts Receivable, Current | ' | ' | ' | ||
Current receivables | 318 | 324 | ' | ||
Subsidiaries [Member] | Appliances And Lighting [Member] | ' | ' | ' | ||
Accounts Receivable, Current | ' | ' | ' | ||
Current receivables | 273 | 186 | ' | ||
Subsidiaries [Member] | Corporate Items And Eliminations [Member] | ' | ' | ' | ||
Accounts Receivable, Current | ' | ' | ' | ||
Current receivables | $377 | $343 | ' | ||
[1] | (a)Â Â Â Â Â Â Â Â 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. |
Inventories_Details
Inventories (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | ||||
Total | $17,325 | $15,374 | ||
Subsidiaries [Member] | ' | ' | ||
Raw materials and work in process | 10,220 | 9,295 | ||
Finished goods | 6,726 | 6,020 | ||
Unbilled shipments | 584 | 378 | ||
Inventory, Gross, Total | 17,530 | 15,693 | ||
Less revaluation to LIFO | -273 | -398 | ||
Total | 17,257 | [1] | 15,295 | [1] |
Subsidiaries GECC [Member] | ' | ' | ||
Finished goods | 68 | 79 | ||
Total | $68 | $79 | ||
[1] | (a)Â Â Â Â Â Â Â Â 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. |
GECC_Financing_Receivables_All2
GECC Financing Receivables, Allowance For Losses On Financing Receivables and Supplemental Information On Credit Quality (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Millions, unless otherwise specified | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Financing receivables, net | $241,940 | $257,238 | ' | ' |
Subsidiaries GECC [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 258,207 | 273,105 | ' | ' |
Less allowance for losses | -5,178 | -4,944 | -6,162 | -7,879 |
Financing receivables, net | 253,029 | 268,161 | ' | ' |
Deferred income | 2,013 | 2,184 | ' | ' |
Subsidiaries GECC [Member] | Loans Receivable [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 231,268 | 240,634 | ' | ' |
Subsidiaries GECC [Member] | Financing Receivable [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 26,939 | 32,471 | ' | ' |
Loans that have been acquired in a transfer but have been subject to credit deterioration since origination per ASC 310, Receivables | $544 | $750 | ' | ' |
GECC_Financing_Receivables_All3
GECC Financing Receivables, Allowance For Losses On Financing Receivables and Supplemental Information On Credit Quality (Net Investment in Financing Leases) (Details) (Subsidiaries GECC [Member], USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Total financing leases | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | $258,207 | $273,105 |
Direct financing leases | ' | ' |
Total minimum lease payments receivables | 24,571 | 29,416 |
Principal and interest on third-party nonrecourse debt | 0 | 0 |
Net rentals receivable | 24,571 | 29,416 |
Estimated unguaranteed residual value of leased assets | 3,067 | 4,272 |
Deferred income | -3,560 | -4,453 |
Investment in financing leases, net of deferred income | 24,078 | 29,235 |
Allowance for losses | -192 | -193 |
Deferred taxes | -1,783 | -2,245 |
Net investment in financing leases | 22,103 | 26,797 |
Leveraged leases | ' | ' |
Total minimum lease payments receivables | 5,399 | 7,035 |
Principal and interest on third-party nonrecourse debt | -3,480 | -4,662 |
Net rentals receivable | 1,919 | 2,373 |
Estimated unguaranteed residual value of leased assets | 2,006 | 2,074 |
Deferred income | -1,064 | -1,211 |
Investment in financing leases, net of deferred income | 2,861 | 3,236 |
Allowance for losses | -10 | -5 |
Deferred taxes | -2,292 | -2,261 |
Net investment in financing leases | 559 | 970 |
Initial direct costs on direct financing leases | 317 | 330 |
Pre-tax income | 31 | 81 |
Income tax | 11 | 32 |
Financing Receivable [Member] | ' | ' |
Total financing leases | ' | ' |
Capital Leases, Future Minimum Payments Receivable | 29,970 | 36,451 |
Principal and interest on third-party nonrecourse debt | -3,480 | -4,662 |
Net rentals receivable | 26,490 | 31,789 |
Estimated unguaranteed residual value of leased assets | 5,073 | 6,346 |
Deferred income | -4,624 | -5,664 |
Loans and Leases Receivable, Net of Deferred Income | 26,939 | 32,471 |
Allowance for losses | -202 | -198 |
Deferred taxes | -4,075 | -4,506 |
Net investment in financing leases | $22,662 | $27,767 |
GECC_Financing_Receivables_All4
GECC Financing Receivables, Allowance For Losses On Financing Receivables and Supplemental Information On Credit Quality (Contractual Maturities) (Details) (Subsidiaries GECC [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Total loans | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | $258,207 | $273,105 |
Loans Receivable [Member] | ' | ' |
Total loans | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 231,268 | 240,634 |
Loans Receivable [Member] | Revolving [Member] | ' | ' |
Total loans | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 62,292 | ' |
Loans Receivable [Member] | Nonrevolving [Member] | ' | ' |
Total loans | ' | ' |
2014 | 54,971 | ' |
2015 | 19,270 | ' |
2016 | 19,619 | ' |
2017 | 17,281 | ' |
2018 | 14,714 | ' |
2019 and later | 43,121 | ' |
Loans and Leases Receivable, Net of Deferred Income | 168,976 | ' |
Financing Receivable [Member] | ' | ' |
Total loans | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 26,939 | 32,471 |
Net rentals receivables | ' | ' |
2014 | 8,184 | ' |
2015 | 6,114 | ' |
2016 | 4,209 | ' |
2017 | 2,733 | ' |
2018 | 1,798 | ' |
2019 and later | 3,452 | ' |
Net rentals receivable | 26,490 | 31,789 |
Consumer revolving loans | 0 | ' |
Total | $26,490 | ' |
GECC_Financing_Receivables_All5
GECC Financing Receivables, Allowance For Losses On Financing Receivables and Supplemental Information On Credit Quality (Financing Receivables Net) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Millions, unless otherwise specified | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Financing receivables - net | $241,940 | $257,238 | ' | ' |
Subsidiaries GECC [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 258,207 | 273,105 | ' | ' |
Less allowance for losses | -5,178 | -4,944 | -6,162 | -7,879 |
Financing receivables - net | 253,029 | 268,161 | ' | ' |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 129,269 | 137,810 | ' | ' |
Less allowance for losses | -1,005 | -1,041 | -1,530 | -2,045 |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | Energy Financial Services Financing Receivables [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 3,107 | 4,851 | ' | ' |
Less allowance for losses | -8 | -9 | -26 | -22 |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | GECAS Financing Receivables [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 9,377 | 10,915 | ' | ' |
Less allowance for losses | -17 | -8 | -17 | -20 |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | Other Financing Receivables [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 318 | 486 | ' | ' |
Less allowance for losses | -2 | -3 | -37 | -58 |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | Americas CLL Financing Receivables [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 68,585 | 72,517 | ' | ' |
Less allowance for losses | -473 | -490 | -889 | -1,288 |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | Europe CLL Financing Receivables [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 37,962 | 37,037 | ' | ' |
Less allowance for losses | -415 | -445 | -400 | -429 |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | Asia CLL Financing Receivables [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 9,469 | 11,401 | ' | ' |
Less allowance for losses | -90 | -80 | -157 | -222 |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | Other CLL Financing Receivables [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 451 | 603 | ' | ' |
Less allowance for losses | 0 | -6 | -4 | -6 |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | CLL Financing Receivables [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 116,467 | 121,558 | ' | ' |
Less allowance for losses | -978 | -1,021 | -1,450 | -1,945 |
Subsidiaries GECC [Member] | Commercial Real Estate Portfolio Segment [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 19,899 | 20,946 | ' | ' |
Less allowance for losses | -192 | -320 | -1,089 | -1,488 |
Subsidiaries GECC [Member] | Consumer Portfolio Segment [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 109,039 | 114,349 | ' | ' |
Less allowance for losses | -3,981 | -3,583 | -3,543 | -4,346 |
Subsidiaries GECC [Member] | Consumer Portfolio Segment [Member] | Non US residential mortgages [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 30,501 | 33,350 | ' | ' |
Less allowance for losses | -358 | -480 | -545 | -688 |
Subsidiaries GECC [Member] | Consumer Portfolio Segment [Member] | Non US installment and revolving credit [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 13,677 | 17,816 | ' | ' |
Less allowance for losses | -594 | -582 | -690 | -898 |
Subsidiaries GECC [Member] | Consumer Portfolio Segment [Member] | US installment and revolving credit [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 55,854 | 50,853 | ' | ' |
Less allowance for losses | -2,823 | -2,282 | -2,008 | -2,333 |
Subsidiaries GECC [Member] | Consumer Portfolio Segment [Member] | Non US auto [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 2,054 | 4,260 | ' | ' |
Less allowance for losses | -56 | -67 | -101 | -168 |
Subsidiaries GECC [Member] | Consumer Portfolio Segment [Member] | Consumer Other Financing Receivable [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Less allowance for losses | -150 | -172 | -199 | -259 |
Subsidiaries GECC [Member] | Consumer Portfolio Segment [Member] | Consumer Other Portfolio [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | $6,953 | $8,070 | ' | ' |
GECC_Financing_Receivables_All6
GECC Financing Receivables, Allowance For Losses On Financing Receivables and Supplemental Information On Credit Quality (Allowance for Losses on Financing Receivables) (Details) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Jul. 02, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Adjustments for New Accounting Pronouncement [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | |
Troubled Debt Restructuring [Member] | Adjustments for New Accounting Pronouncement [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Portfolio Segment [Member] | Consumer Portfolio Segment [Member] | Consumer Portfolio Segment [Member] | Consumer Portfolio Segment [Member] | Consumer Portfolio Segment [Member] | Consumer Portfolio Segment [Member] | Consumer Portfolio Segment [Member] | Consumer Portfolio Segment [Member] | Consumer Portfolio Segment [Member] | Consumer Portfolio Segment [Member] | Consumer Portfolio Segment [Member] | Consumer Portfolio Segment [Member] | Consumer Portfolio Segment [Member] | Consumer Portfolio Segment [Member] | Consumer Portfolio Segment [Member] | Consumer Portfolio Segment [Member] | Consumer Portfolio Segment [Member] | Consumer Portfolio Segment [Member] | Consumer Portfolio Segment [Member] | Consumer Portfolio Segment [Member] | Consumer Portfolio Segment [Member] | Consumer Portfolio Segment [Member] | Consumer Portfolio Segment [Member] | Consumer Portfolio Segment [Member] | Consumer Portfolio Segment [Member] | |||||
Troubled Debt Restructuring [Member] | Energy Financial Services Financing Receivables [Member] | Energy Financial Services Financing Receivables [Member] | Energy Financial Services Financing Receivables [Member] | Energy Financial Services Financing Receivables [Member] | GECAS Financing Receivables [Member] | GECAS Financing Receivables [Member] | GECAS Financing Receivables [Member] | GECAS Financing Receivables [Member] | Other Financing Receivables [Member] | Other Financing Receivables [Member] | Other Financing Receivables [Member] | Other Financing Receivables [Member] | Americas CLL Financing Receivables [Member] | Americas CLL Financing Receivables [Member] | Americas CLL Financing Receivables [Member] | Americas CLL Financing Receivables [Member] | Europe CLL Financing Receivables [Member] | Europe CLL Financing Receivables [Member] | Europe CLL Financing Receivables [Member] | Europe CLL Financing Receivables [Member] | Asia CLL Financing Receivables [Member] | Asia CLL Financing Receivables [Member] | Asia CLL Financing Receivables [Member] | Asia CLL Financing Receivables [Member] | Other CLL Financing Receivables [Member] | Other CLL Financing Receivables [Member] | Other CLL Financing Receivables [Member] | Other CLL Financing Receivables [Member] | CLL Financing Receivables [Member] | CLL Financing Receivables [Member] | CLL Financing Receivables [Member] | CLL Financing Receivables [Member] | Non US residential mortgages [Member] | Non US residential mortgages [Member] | Non US residential mortgages [Member] | Non US residential mortgages [Member] | Non US installment and revolving credit [Member] | Non US installment and revolving credit [Member] | Non US installment and revolving credit [Member] | Non US installment and revolving credit [Member] | US installment and revolving credit [Member] | US installment and revolving credit [Member] | US installment and revolving credit [Member] | US installment and revolving credit [Member] | Non US auto [Member] | Non US auto [Member] | Non US auto [Member] | Non US auto [Member] | Consumer Other Financing Receivable [Member] | Consumer Other Financing Receivable [Member] | Consumer Other Financing Receivable [Member] | Consumer Other Financing Receivable [Member] | ||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total balance | ' | $5,178 | $4,944 | $6,162 | $7,879 | ' | $1,005 | $1,041 | $1,530 | $2,045 | $8 | $9 | $26 | $22 | $17 | $8 | $17 | $20 | $2 | $3 | $37 | $58 | $473 | $490 | $889 | $1,288 | $415 | $445 | $400 | $429 | $90 | $80 | $157 | $222 | $0 | $6 | $4 | $6 | $978 | $1,021 | $1,450 | $1,945 | $192 | $320 | $1,089 | $1,488 | $3,981 | $3,583 | $3,543 | $4,346 | $358 | $480 | $545 | $688 | $594 | $582 | $690 | $898 | $2,823 | $2,282 | $2,008 | $2,333 | $56 | $67 | $101 | $168 | $150 | $172 | $199 | $259 |
Provision charged | ' | 4,818 | 3,832 | 3,930 | ' | ' | 741 | 542 | 607 | ' | -1 | 4 | 0 | ' | 9 | 4 | 0 | ' | -1 | 1 | 23 | ' | 292 | 109 | 281 | ' | 321 | 374 | 195 | ' | 124 | 37 | 105 | ' | -3 | 13 | 3 | ' | 734 | 533 | 584 | ' | 28 | 72 | 324 | ' | 4,049 | 3,218 | 2,999 | ' | 269 | 112 | 116 | ' | 589 | 290 | 470 | ' | 3,006 | 2,666 | 2,241 | ' | 58 | 18 | 30 | ' | 127 | 132 | 142 | ' |
Other | ' | -140 | -100 | -155 | ' | ' | 0 | -78 | -92 | ' | 0 | 0 | -1 | ' | 0 | 0 | 0 | ' | 0 | -20 | 0 | ' | -1 | -51 | -96 | ' | 12 | -3 | -5 | ' | -11 | -3 | 13 | ' | 0 | -1 | -3 | ' | 0 | -58 | -91 | ' | -4 | -44 | 2 | ' | -136 | 22 | -65 | ' | 10 | 8 | -13 | ' | -93 | 24 | -29 | ' | -51 | -24 | 1 | ' | -13 | -4 | -4 | ' | 11 | 18 | -20 | ' |
Gross write-offs | ' | -5,887 | -6,510 | -7,079 | ' | ' | -983 | -1,156 | -1,256 | ' | 0 | -24 | -4 | ' | 0 | -13 | -3 | ' | -2 | -17 | -47 | ' | -422 | -568 | -700 | ' | -441 | -390 | -286 | ' | -115 | -134 | -214 | ' | -3 | -10 | -2 | ' | -981 | -1,102 | -1,202 | ' | -163 | -810 | -747 | ' | -4,741 | -4,544 | -5,076 | ' | -458 | -261 | -295 | ' | -967 | -974 | -1,198 | ' | -2,954 | -2,906 | -3,095 | ' | -126 | -146 | -216 | ' | -236 | -257 | -272 | ' |
Recoveries | ' | 1,443 | 1,560 | 1,587 | ' | ' | 206 | 203 | 226 | ' | 0 | 3 | 9 | ' | 0 | 0 | 0 | ' | 2 | 2 | 3 | ' | 114 | 111 | 116 | ' | 78 | 64 | 67 | ' | 12 | 23 | 31 | ' | 0 | 0 | 0 | ' | 204 | 198 | 214 | ' | 11 | 13 | 22 | ' | 1,226 | 1,344 | 1,339 | ' | 57 | 76 | 49 | ' | 483 | 552 | 549 | ' | 540 | 538 | 528 | ' | 70 | 98 | 123 | ' | 76 | 80 | 90 | ' |
Allowance for Loan and Lease Losses, Period Increase (Decrease) | $77 | ' | ' | ' | ' | $77 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
GECC_Financing_Receivables_All7
GECC Financing Receivables, Allowance For Losses On Financing Receivables and Supplemental Information On Credit Quality (Past Due Financing Receivables) (Details) (Subsidiaries GECC [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Past Due Financing Receivables | ' | ' |
Over 30 days past due | 3.50% | 3.70% |
Over 90 days past due | 1.90% | 2.10% |
Commercial Portfolio Segment [Member] | ' | ' |
Past Due Financing Receivables | ' | ' |
Over 30 days past due | 1.70% | 1.70% |
Over 90 days past due | 0.90% | 0.90% |
Commercial Portfolio Segment [Member] | Energy Financial Services Financing Receivables [Member] | ' | ' |
Past Due Financing Receivables | ' | ' |
Over 30 days past due | 0.00% | 0.00% |
Over 90 days past due | 0.00% | 0.00% |
Commercial Portfolio Segment [Member] | GECAS Financing Receivables [Member] | ' | ' |
Past Due Financing Receivables | ' | ' |
Over 30 days past due | 0.00% | 0.00% |
Over 90 days past due | 0.00% | 0.00% |
Commercial Portfolio Segment [Member] | Other Financing Receivables [Member] | ' | ' |
Past Due Financing Receivables | ' | ' |
Over 30 days past due | 0.10% | 2.80% |
Over 90 days past due | 0.10% | 2.80% |
Commercial Portfolio Segment [Member] | Americas CLL Financing Receivables [Member] | ' | ' |
Past Due Financing Receivables | ' | ' |
Over 30 days past due | 1.10% | 1.10% |
Over 90 days past due | 0.50% | 0.50% |
Commercial Portfolio Segment [Member] | Europe CLL Financing Receivables [Member] | ' | ' |
Past Due Financing Receivables | ' | ' |
Over 30 days past due | 3.80% | 3.70% |
Over 90 days past due | 2.10% | 2.10% |
Commercial Portfolio Segment [Member] | Asia CLL Financing Receivables [Member] | ' | ' |
Past Due Financing Receivables | ' | ' |
Over 30 days past due | 0.50% | 0.90% |
Over 90 days past due | 0.30% | 0.60% |
Commercial Portfolio Segment [Member] | Other CLL Financing Receivables [Member] | ' | ' |
Past Due Financing Receivables | ' | ' |
Over 30 days past due | 0.00% | 0.10% |
Over 90 days past due | 0.00% | 0.00% |
Commercial Portfolio Segment [Member] | CLL Financing Receivables [Member] | ' | ' |
Past Due Financing Receivables | ' | ' |
Over 30 days past due | 1.90% | 1.90% |
Over 90 days past due | 1.00% | 1.00% |
Commercial Real Estate Portfolio Segment [Member] | ' | ' |
Past Due Financing Receivables | ' | ' |
Over 30 days past due | 1.20% | 2.30% |
Over 90 days past due | 1.10% | 2.20% |
Consumer Portfolio Segment [Member] | ' | ' |
Past Due Financing Receivables | ' | ' |
Over 30 days past due | 6.10% | 6.50% |
Over 90 days past due | 3.20% | 3.40% |
Loans which are 90+ days past due and still accruing interest | 1,197 | ' |
Consumer Portfolio Segment [Member] | Non US residential mortgages [Member] | ' | ' |
Past Due Financing Receivables | ' | ' |
Over 30 days past due | 11.20% | 12.00% |
Over 90 days past due | 6.90% | 7.50% |
Consumer Portfolio Segment [Member] | Non US installment and revolving credit [Member] | ' | ' |
Past Due Financing Receivables | ' | ' |
Over 30 days past due | 3.70% | 3.80% |
Over 90 days past due | 1.10% | 1.10% |
Consumer Portfolio Segment [Member] | US installment and revolving credit [Member] | ' | ' |
Past Due Financing Receivables | ' | ' |
Over 30 days past due | 4.40% | 4.60% |
Over 90 days past due | 2.00% | 2.00% |
Consumer Portfolio Segment [Member] | Non US auto [Member] | ' | ' |
Past Due Financing Receivables | ' | ' |
Over 30 days past due | 4.40% | 3.10% |
Over 90 days past due | 0.70% | 0.50% |
Consumer Portfolio Segment [Member] | Consumer Other Financing Receivable [Member] | ' | ' |
Past Due Financing Receivables | ' | ' |
Over 30 days past due | 2.50% | 2.80% |
Over 90 days past due | 1.40% | 1.70% |
GECC_Financing_Receivables_All8
GECC Financing Receivables, Allowance For Losses On Financing Receivables and Supplemental Information On Credit Quality (Nonaccrual Financing Receivables) (Details) (Subsidiaries GECC [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Nonaccrual Financing Receivables | ' | ' |
Nonearning financing receivables | $7,232 | $7,515 |
Allowance for losses as a percent of nonaccrual financing receivables | 65.40% | 37.10% |
Allowance for losses as a percent of nonearning financing receivables | 71.60% | 65.80% |
Commercial Portfolio Segment [Member] | ' | ' |
Nonaccrual Financing Receivables | ' | ' |
Amount of nonaccrual loans currently paying in accordance with contractual terms | 1,397 | 2,647 |
Nonearning financing receivables | 2,712 | 2,890 |
Allowance for losses as a percent of nonaccrual financing receivables | 36.60% | 25.00% |
Allowance for losses as a percent of nonearning financing receivables | 37.10% | 36.00% |
Commercial Portfolio Segment [Member] | Energy Financial Services Financing Receivables [Member] | ' | ' |
Nonaccrual Financing Receivables | ' | ' |
Nonaccrual loans | 4 | 0 |
Nonearning financing receivables | 4 | 0 |
Commercial Portfolio Segment [Member] | GECAS Financing Receivables [Member] | ' | ' |
Nonaccrual Financing Receivables | ' | ' |
Nonaccrual loans | 0 | 3 |
Nonearning financing receivables | 0 | 0 |
Commercial Portfolio Segment [Member] | Other Financing Receivables [Member] | ' | ' |
Nonaccrual Financing Receivables | ' | ' |
Nonaccrual loans | 6 | 25 |
Nonearning financing receivables | 6 | 13 |
Commercial Portfolio Segment [Member] | Americas CLL Financing Receivables [Member] | ' | ' |
Nonaccrual Financing Receivables | ' | ' |
Nonaccrual loans | 1,275 | 1,951 |
Nonearning financing receivables | 1,243 | 1,333 |
Commercial Portfolio Segment [Member] | Europe CLL Financing Receivables [Member] | ' | ' |
Nonaccrual Financing Receivables | ' | ' |
Nonaccrual loans | 1,046 | 1,740 |
Nonearning financing receivables | 1,046 | 1,299 |
Commercial Portfolio Segment [Member] | Asia CLL Financing Receivables [Member] | ' | ' |
Nonaccrual Financing Receivables | ' | ' |
Nonaccrual loans | 413 | 395 |
Nonearning financing receivables | 413 | 193 |
Commercial Portfolio Segment [Member] | Other CLL Financing Receivables [Member] | ' | ' |
Nonaccrual Financing Receivables | ' | ' |
Nonaccrual loans | 0 | 52 |
Nonearning financing receivables | 0 | 52 |
Commercial Portfolio Segment [Member] | CLL Financing Receivables [Member] | ' | ' |
Nonaccrual Financing Receivables | ' | ' |
Nonaccrual loans | 2,734 | 4,138 |
Nonearning financing receivables | 2,702 | 2,877 |
Commercial Real Estate Portfolio Segment [Member] | ' | ' |
Nonaccrual Financing Receivables | ' | ' |
Amount of nonaccrual loans currently paying in accordance with contractual terms | 2,308 | 4,461 |
Nonearning financing receivables | 2,301 | 444 |
Allowance for losses as a percent of nonaccrual financing receivables | 7.50% | 6.60% |
Allowance for losses as a percent of nonearning financing receivables | 8.30% | 72.10% |
Consumer Portfolio Segment [Member] | ' | ' |
Nonaccrual Financing Receivables | ' | ' |
Nonaccrual loans | 2,620 | 4,288 |
Nonearning financing receivables | 2,219 | 4,181 |
Allowance for losses as a percent of nonaccrual financing receivables | 151.90% | 83.60% |
Allowance for losses as a percent of nonearning financing receivables | 179.40% | 85.70% |
Consumer Portfolio Segment [Member] | Nonaccrual Financing Receivables [Member] | ' | ' |
Nonaccrual Financing Receivables | ' | ' |
Amount of nonaccrual loans currently paying in accordance with contractual terms | 527 | 734 |
Consumer Portfolio Segment [Member] | Non US residential mortgages [Member] | ' | ' |
Nonaccrual Financing Receivables | ' | ' |
Nonaccrual loans | 2,161 | 2,598 |
Nonearning financing receivables | 1,766 | 2,567 |
Consumer Portfolio Segment [Member] | Non US installment and revolving credit [Member] | ' | ' |
Nonaccrual Financing Receivables | ' | ' |
Nonaccrual loans | 88 | 213 |
Nonearning financing receivables | 88 | 213 |
Consumer Portfolio Segment [Member] | US installment and revolving credit [Member] | ' | ' |
Nonaccrual Financing Receivables | ' | ' |
Nonaccrual loans | 2 | 1,026 |
Nonearning financing receivables | 2 | 1,026 |
Consumer Portfolio Segment [Member] | Non US auto [Member] | ' | ' |
Nonaccrual Financing Receivables | ' | ' |
Nonaccrual loans | 18 | 24 |
Nonearning financing receivables | 18 | 24 |
Consumer Portfolio Segment [Member] | Consumer Other Financing Receivable [Member] | ' | ' |
Nonaccrual Financing Receivables | ' | ' |
Nonaccrual loans | 351 | 427 |
Nonearning financing receivables | $345 | $351 |
GECC_Financing_Receivables_All9
GECC Financing Receivables, Allowance For Losses On Financing Receivables and Supplemental Information On Credit Quality (Impaired Loans) (Details) (Subsidiaries GECC [Member], USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Impaired Loans | ' | ' |
Total impaired loans | $10,740 | $13,970 |
Allowance for losses (specific reserves) | 969 | 1,348 |
Financing Receivables and Allowance for Losses | ' | ' |
Loans and leases receivable, Gross | 258,207 | 273,105 |
Non-impaired financing receivables | 247,467 | 259,135 |
General reserves | 4,209 | 3,596 |
Total impaired loans | 10,740 | 13,970 |
Allowance for losses (specific reserves) | 969 | 1,348 |
No Related Allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 5,500 | 7,293 |
Unpaid principal balance | 7,317 | 8,749 |
Average investment in loans | 6,455 | 7,567 |
Financing Receivables and Allowance for Losses | ' | ' |
Total impaired loans | 5,500 | 7,293 |
Related Allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 5,240 | 6,677 |
Unpaid principal balance | 6,014 | 7,806 |
Allowance for losses (specific reserves) | 969 | 1,348 |
Average investment in loans | 5,892 | 8,695 |
Financing Receivables and Allowance for Losses | ' | ' |
Total impaired loans | 5,240 | 6,677 |
Allowance for losses (specific reserves) | 969 | 1,348 |
Commercial Portfolio Segment [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 3,892 | 5,069 |
Allowance for losses (specific reserves) | 328 | 487 |
Average investment in loans | 4,445 | 5,688 |
Interest income recognized | 218 | 253 |
Interest income recognized on a cash basis | 60 | 92 |
Financing Receivables and Allowance for Losses | ' | ' |
Loans and leases receivable, Gross | 129,269 | 137,810 |
Non-impaired financing receivables | 125,377 | 132,741 |
General reserves | 677 | 554 |
Total impaired loans | 3,892 | 5,069 |
Allowance for losses (specific reserves) | 328 | 487 |
Commercial Portfolio Segment [Member] | Troubled Debt Restructuring [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 2,961 | 3,872 |
Financing Receivable, Modifications, Recorded Investment | 1,509 | 2,936 |
Loans Modified As Troubled Debt Restructuring That Have Subsequently Experienced Payment Default | 71 | 217 |
Financing Receivables and Allowance for Losses | ' | ' |
Total impaired loans | 2,961 | 3,872 |
Commercial Portfolio Segment [Member] | No Related Allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 2,776 | 3,697 |
Unpaid principal balance | 4,128 | 4,920 |
Average investment in loans | 3,299 | 3,694 |
Financing Receivables and Allowance for Losses | ' | ' |
Total impaired loans | 2,776 | 3,697 |
Commercial Portfolio Segment [Member] | Related Allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 1,116 | 1,372 |
Unpaid principal balance | 1,559 | 1,858 |
Allowance for losses (specific reserves) | 328 | 487 |
Average investment in loans | 1,146 | 1,994 |
Financing Receivables and Allowance for Losses | ' | ' |
Total impaired loans | 1,116 | 1,372 |
Allowance for losses (specific reserves) | 328 | 487 |
Commercial Portfolio Segment [Member] | Energy Financial Services Financing Receivables [Member] | ' | ' |
Financing Receivables and Allowance for Losses | ' | ' |
Loans and leases receivable, Gross | 3,107 | 4,851 |
Commercial Portfolio Segment [Member] | Energy Financial Services Financing Receivables [Member] | No Related Allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 0 | 0 |
Unpaid principal balance | 0 | 0 |
Average investment in loans | 0 | 2 |
Financing Receivables and Allowance for Losses | ' | ' |
Total impaired loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Energy Financial Services Financing Receivables [Member] | Related Allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 4 | 0 |
Unpaid principal balance | 4 | 0 |
Allowance for losses (specific reserves) | 1 | 0 |
Average investment in loans | 2 | 7 |
Financing Receivables and Allowance for Losses | ' | ' |
Total impaired loans | 4 | 0 |
Allowance for losses (specific reserves) | 1 | 0 |
Commercial Portfolio Segment [Member] | GECAS Financing Receivables [Member] | ' | ' |
Financing Receivables and Allowance for Losses | ' | ' |
Loans and leases receivable, Gross | 9,377 | 10,915 |
Commercial Portfolio Segment [Member] | GECAS Financing Receivables [Member] | No Related Allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 0 | 0 |
Unpaid principal balance | 0 | 0 |
Average investment in loans | 0 | 17 |
Financing Receivables and Allowance for Losses | ' | ' |
Total impaired loans | 0 | 0 |
Commercial Portfolio Segment [Member] | GECAS Financing Receivables [Member] | Related Allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 0 | 3 |
Unpaid principal balance | 0 | 3 |
Allowance for losses (specific reserves) | 0 | 0 |
Average investment in loans | 1 | 5 |
Financing Receivables and Allowance for Losses | ' | ' |
Total impaired loans | 0 | 3 |
Allowance for losses (specific reserves) | 0 | 0 |
Commercial Portfolio Segment [Member] | Other Financing Receivables [Member] | ' | ' |
Financing Receivables and Allowance for Losses | ' | ' |
Loans and leases receivable, Gross | 318 | 486 |
Commercial Portfolio Segment [Member] | Other Financing Receivables [Member] | No Related Allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 2 | 17 |
Unpaid principal balance | 3 | 28 |
Average investment in loans | 9 | 26 |
Financing Receivables and Allowance for Losses | ' | ' |
Total impaired loans | 2 | 17 |
Commercial Portfolio Segment [Member] | Other Financing Receivables [Member] | Related Allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 4 | 8 |
Unpaid principal balance | 4 | 8 |
Allowance for losses (specific reserves) | 0 | 2 |
Average investment in loans | 5 | 40 |
Financing Receivables and Allowance for Losses | ' | ' |
Total impaired loans | 4 | 8 |
Allowance for losses (specific reserves) | 0 | 2 |
Commercial Portfolio Segment [Member] | Americas CLL Financing Receivables [Member] | ' | ' |
Financing Receivables and Allowance for Losses | ' | ' |
Loans and leases receivable, Gross | 68,585 | 72,517 |
Commercial Portfolio Segment [Member] | Americas CLL Financing Receivables [Member] | Troubled Debt Restructuring [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 1,770 | 2,577 |
Financing Receivable, Modifications, Recorded Investment | 737 | ' |
Financing Receivables and Allowance for Losses | ' | ' |
Total impaired loans | 1,770 | 2,577 |
Commercial Portfolio Segment [Member] | Americas CLL Financing Receivables [Member] | No Related Allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 1,670 | 2,487 |
Unpaid principal balance | 2,187 | 2,927 |
Average investment in loans | 2,154 | 2,535 |
Financing Receivables and Allowance for Losses | ' | ' |
Total impaired loans | 1,670 | 2,487 |
Commercial Portfolio Segment [Member] | Americas CLL Financing Receivables [Member] | Related Allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 417 | 557 |
Unpaid principal balance | 505 | 681 |
Allowance for losses (specific reserves) | 96 | 178 |
Average investment in loans | 497 | 987 |
Financing Receivables and Allowance for Losses | ' | ' |
Total impaired loans | 417 | 557 |
Allowance for losses (specific reserves) | 96 | 178 |
Commercial Portfolio Segment [Member] | Europe CLL Financing Receivables [Member] | ' | ' |
Financing Receivables and Allowance for Losses | ' | ' |
Loans and leases receivable, Gross | 37,962 | 37,037 |
Commercial Portfolio Segment [Member] | Europe CLL Financing Receivables [Member] | No Related Allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 802 | 1,131 |
Unpaid principal balance | 1,589 | 1,901 |
Average investment in loans | 956 | 1,009 |
Financing Receivables and Allowance for Losses | ' | ' |
Total impaired loans | 802 | 1,131 |
Commercial Portfolio Segment [Member] | Europe CLL Financing Receivables [Member] | Related Allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 580 | 643 |
Unpaid principal balance | 921 | 978 |
Allowance for losses (specific reserves) | 211 | 278 |
Average investment in loans | 536 | 805 |
Financing Receivables and Allowance for Losses | ' | ' |
Total impaired loans | 580 | 643 |
Allowance for losses (specific reserves) | 211 | 278 |
Commercial Portfolio Segment [Member] | Asia CLL Financing Receivables [Member] | ' | ' |
Financing Receivables and Allowance for Losses | ' | ' |
Loans and leases receivable, Gross | 9,469 | 11,401 |
Commercial Portfolio Segment [Member] | Asia CLL Financing Receivables [Member] | No Related Allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 302 | 62 |
Unpaid principal balance | 349 | 64 |
Average investment in loans | 180 | 62 |
Financing Receivables and Allowance for Losses | ' | ' |
Total impaired loans | 302 | 62 |
Commercial Portfolio Segment [Member] | Asia CLL Financing Receivables [Member] | Related Allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 111 | 109 |
Unpaid principal balance | 125 | 120 |
Allowance for losses (specific reserves) | 20 | 23 |
Average investment in loans | 93 | 134 |
Financing Receivables and Allowance for Losses | ' | ' |
Total impaired loans | 111 | 109 |
Allowance for losses (specific reserves) | 20 | 23 |
Commercial Portfolio Segment [Member] | Other CLL Financing Receivables [Member] | ' | ' |
Financing Receivables and Allowance for Losses | ' | ' |
Loans and leases receivable, Gross | 451 | 603 |
Commercial Portfolio Segment [Member] | Other CLL Financing Receivables [Member] | No Related Allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 0 | 0 |
Unpaid principal balance | 0 | 0 |
Average investment in loans | 0 | 43 |
Financing Receivables and Allowance for Losses | ' | ' |
Total impaired loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Other CLL Financing Receivables [Member] | Related Allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 0 | 52 |
Unpaid principal balance | 0 | 68 |
Allowance for losses (specific reserves) | 0 | 6 |
Average investment in loans | 12 | 16 |
Financing Receivables and Allowance for Losses | ' | ' |
Total impaired loans | 0 | 52 |
Allowance for losses (specific reserves) | 0 | 6 |
Commercial Portfolio Segment [Member] | CLL Financing Receivables [Member] | ' | ' |
Financing Receivables and Allowance for Losses | ' | ' |
Loans and leases receivable, Gross | 116,467 | 121,558 |
Commercial Portfolio Segment [Member] | CLL Financing Receivables [Member] | No Related Allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 2,774 | 3,680 |
Unpaid principal balance | 4,125 | 4,892 |
Average investment in loans | 3,290 | 3,649 |
Financing Receivables and Allowance for Losses | ' | ' |
Total impaired loans | 2,774 | 3,680 |
Commercial Portfolio Segment [Member] | CLL Financing Receivables [Member] | Related Allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 1,108 | 1,361 |
Unpaid principal balance | 1,551 | 1,847 |
Allowance for losses (specific reserves) | 327 | 485 |
Average investment in loans | 1,138 | 1,942 |
Financing Receivables and Allowance for Losses | ' | ' |
Total impaired loans | 1,108 | 1,361 |
Allowance for losses (specific reserves) | 327 | 485 |
Commercial Real Estate Portfolio Segment [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 3,860 | 5,693 |
Allowance for losses (specific reserves) | 74 | 188 |
Average investment in loans | 4,746 | 7,525 |
Interest income recognized | 187 | 329 |
Interest income recognized on a cash basis | 135 | 237 |
Financing Receivables and Allowance for Losses | ' | ' |
Loans and leases receivable, Gross | 19,899 | 20,946 |
Non-impaired financing receivables | 16,039 | 15,253 |
General reserves | 118 | 132 |
Total impaired loans | 3,860 | 5,693 |
Allowance for losses (specific reserves) | 74 | 188 |
Commercial Real Estate Portfolio Segment [Member] | Troubled Debt Restructuring [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 3,625 | 5,146 |
Financing Receivable, Modifications, Recorded Investment | 1,595 | 4,351 |
Loans Modified As Troubled Debt Restructuring That Have Subsequently Experienced Payment Default | 197 | 210 |
Financing Receivables and Allowance for Losses | ' | ' |
Total impaired loans | 3,625 | 5,146 |
Commercial Real Estate Portfolio Segment [Member] | No Related Allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 2,615 | 3,491 |
Unpaid principal balance | 3,036 | 3,712 |
Average investment in loans | 3,058 | 3,773 |
Financing Receivables and Allowance for Losses | ' | ' |
Total impaired loans | 2,615 | 3,491 |
Commercial Real Estate Portfolio Segment [Member] | Related Allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 1,245 | 2,202 |
Unpaid principal balance | 1,507 | 2,807 |
Allowance for losses (specific reserves) | 74 | 188 |
Average investment in loans | 1,688 | 3,752 |
Financing Receivables and Allowance for Losses | ' | ' |
Total impaired loans | 1,245 | 2,202 |
Allowance for losses (specific reserves) | 74 | 188 |
Consumer Portfolio Segment [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 2,988 | 3,208 |
Unpaid principal balance | 3,101 | ' |
Allowance for losses (specific reserves) | 567 | 673 |
Average investment in loans | 3,156 | 3,049 |
Interest income recognized | 221 | 168 |
Interest income recognized on a cash basis | 3 | 4 |
Financing Receivable, Modifications, Recorded Investment | 2,988 | ' |
Financing Receivables and Allowance for Losses | ' | ' |
Loans and leases receivable, Gross | 109,039 | 114,349 |
Non-impaired financing receivables | 106,051 | 111,141 |
General reserves | 3,414 | 2,910 |
Total impaired loans | 2,988 | 3,208 |
Allowance for losses (specific reserves) | 567 | 673 |
Consumer Portfolio Segment [Member] | Troubled Debt Restructuring [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 2,874 | 3,041 |
Financing Receivable, Modifications, Recorded Investment | 1,441 | 1,751 |
Loans Modified As Troubled Debt Restructuring That Have Subsequently Experienced Payment Default | 266 | 334 |
Financing Receivables and Allowance for Losses | ' | ' |
Total impaired loans | 2,874 | 3,041 |
Consumer Portfolio Segment [Member] | No Related Allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 109 | 105 |
Unpaid principal balance | 153 | 117 |
Average investment in loans | 98 | 100 |
Financing Receivables and Allowance for Losses | ' | ' |
Total impaired loans | 109 | 105 |
Consumer Portfolio Segment [Member] | Related Allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 2,879 | 3,103 |
Unpaid principal balance | 2,948 | 3,141 |
Allowance for losses (specific reserves) | 567 | 673 |
Average investment in loans | 3,058 | 2,949 |
Financing Receivables and Allowance for Losses | ' | ' |
Total impaired loans | 2,879 | 3,103 |
Allowance for losses (specific reserves) | 567 | 673 |
Consumer Portfolio Segment [Member] | Non US residential mortgages [Member] | ' | ' |
Financing Receivables and Allowance for Losses | ' | ' |
Loans and leases receivable, Gross | 30,501 | 33,350 |
Consumer Portfolio Segment [Member] | Non US installment and revolving credit [Member] | ' | ' |
Financing Receivables and Allowance for Losses | ' | ' |
Loans and leases receivable, Gross | 13,677 | 17,816 |
Consumer Portfolio Segment [Member] | US installment and revolving credit [Member] | ' | ' |
Financing Receivables and Allowance for Losses | ' | ' |
Loans and leases receivable, Gross | 55,854 | 50,853 |
Consumer Portfolio Segment [Member] | Non US auto [Member] | ' | ' |
Financing Receivables and Allowance for Losses | ' | ' |
Loans and leases receivable, Gross | 2,054 | 4,260 |
Consumer Portfolio Segment [Member] | Consumer Other Portfolio [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 261 | ' |
Financing Receivables and Allowance for Losses | ' | ' |
Loans and leases receivable, Gross | 6,953 | 8,070 |
Total impaired loans | 261 | ' |
Consumer Portfolio Segment [Member] | Consumer Other Portfolio [Member] | Related Allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Allowance for losses (specific reserves) | 35 | ' |
Financing Receivables and Allowance for Losses | ' | ' |
Allowance for losses (specific reserves) | 35 | ' |
Consumer Portfolio Segment [Member] | Remaining Consumer Business [Member] | ' | ' |
Impaired Loans | ' | ' |
Allowance for losses (specific reserves) | 532 | ' |
Financing Receivables and Allowance for Losses | ' | ' |
Allowance for losses (specific reserves) | 532 | ' |
Consumer Portfolio Segment [Member] | Remaining Consumer Business [Member] | Related Allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Total impaired loans | 2,618 | ' |
Financing Receivables and Allowance for Losses | ' | ' |
Total impaired loans | 2,618 | ' |
Consumer Portfolio Segment [Member] | US Consumer [Member] | Troubled Debt Restructuring [Member] | ' | ' |
Impaired Loans | ' | ' |
Financing Receivable, Modifications, Recorded Investment | 562 | ' |
Consumer Portfolio Segment [Member] | Non US Consumer [Member] | Troubled Debt Restructuring [Member] | ' | ' |
Impaired Loans | ' | ' |
Financing Receivable, Modifications, Recorded Investment | $879 | ' |
Recovered_Sheet1
GECC Financing Receivables, Allowance For Losses On Financing Receivables and Supplemental Information On Credit Quality (Credit Quality) (Details) (Subsidiaries GECC [Member], USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | $258,207 | $273,105 |
Commercial Portfolio Segment [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 129,269 | 137,810 |
Commercial Portfolio Segment [Member] | Unsecured Financing Receivables Portfolio [Member] | Risk Level, High [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 231 | 452 |
Commercial Portfolio Segment [Member] | Unsecured Financing Receivables Portfolio [Member] | Risk Level, Medium [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 580 | 583 |
Commercial Portfolio Segment [Member] | Unsecured Financing Receivables Portfolio [Member] | Risk Level, Low [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 313 | 458 |
Commercial Portfolio Segment [Member] | Secured Financing Receivables Portfolio [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 128,145 | 136,317 |
Commercial Portfolio Segment [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, High [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 2,943 | 4,115 |
Commercial Portfolio Segment [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, Medium [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 2,265 | 3,303 |
Commercial Portfolio Segment [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, Low [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 122,937 | 128,899 |
Commercial Portfolio Segment [Member] | Energy Financial Services Financing Receivables [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 3,107 | 4,851 |
Commercial Portfolio Segment [Member] | Energy Financial Services Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 2,978 | 4,725 |
Commercial Portfolio Segment [Member] | Energy Financial Services Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, High [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 0 | 0 |
Commercial Portfolio Segment [Member] | Energy Financial Services Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, Medium [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 9 | 0 |
Commercial Portfolio Segment [Member] | Energy Financial Services Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, Low [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 2,969 | 4,725 |
Commercial Portfolio Segment [Member] | GECAS Financing Receivables [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 9,377 | 10,915 |
Commercial Portfolio Segment [Member] | GECAS Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 9,377 | 10,915 |
Commercial Portfolio Segment [Member] | GECAS Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, High [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 152 | 11 |
Commercial Portfolio Segment [Member] | GECAS Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, Medium [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 50 | 223 |
Commercial Portfolio Segment [Member] | GECAS Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, Low [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 9,175 | 10,681 |
Commercial Portfolio Segment [Member] | Other Financing Receivables [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 318 | 486 |
Commercial Portfolio Segment [Member] | Other Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 318 | 486 |
Commercial Portfolio Segment [Member] | Other Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, High [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 0 | 0 |
Commercial Portfolio Segment [Member] | Other Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, Medium [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 0 | 0 |
Commercial Portfolio Segment [Member] | Other Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, Low [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 318 | 486 |
Commercial Portfolio Segment [Member] | Americas CLL Financing Receivables [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 68,585 | 72,517 |
Commercial Portfolio Segment [Member] | Americas CLL Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 68,585 | 72,517 |
Commercial Portfolio Segment [Member] | Americas CLL Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, High [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 1,554 | 2,382 |
Commercial Portfolio Segment [Member] | Americas CLL Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, Medium [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 1,587 | 1,775 |
Commercial Portfolio Segment [Member] | Americas CLL Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, Low [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 65,444 | 68,360 |
Commercial Portfolio Segment [Member] | Europe CLL Financing Receivables [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 37,962 | 37,037 |
Commercial Portfolio Segment [Member] | Europe CLL Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 37,466 | 36,200 |
Commercial Portfolio Segment [Member] | Europe CLL Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, High [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 1,019 | 1,256 |
Commercial Portfolio Segment [Member] | Europe CLL Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, Medium [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 479 | 1,188 |
Commercial Portfolio Segment [Member] | Europe CLL Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, Low [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 35,968 | 33,756 |
Commercial Portfolio Segment [Member] | Asia CLL Financing Receivables [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 9,469 | 11,401 |
Commercial Portfolio Segment [Member] | Asia CLL Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 9,320 | 11,221 |
Commercial Portfolio Segment [Member] | Asia CLL Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, High [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 218 | 372 |
Commercial Portfolio Segment [Member] | Asia CLL Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, Medium [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 140 | 117 |
Commercial Portfolio Segment [Member] | Asia CLL Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, Low [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 8,962 | 10,732 |
Commercial Portfolio Segment [Member] | Other CLL Financing Receivables [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 451 | 603 |
Commercial Portfolio Segment [Member] | Other CLL Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 101 | 253 |
Commercial Portfolio Segment [Member] | Other CLL Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, High [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 0 | 94 |
Commercial Portfolio Segment [Member] | Other CLL Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, Medium [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 0 | 0 |
Commercial Portfolio Segment [Member] | Other CLL Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, Low [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 101 | 159 |
Commercial Portfolio Segment [Member] | CLL Financing Receivables [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 116,467 | 121,558 |
Commercial Portfolio Segment [Member] | CLL Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 115,472 | 120,191 |
Commercial Portfolio Segment [Member] | CLL Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, High [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 2,791 | 4,104 |
Commercial Portfolio Segment [Member] | CLL Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, Medium [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 2,206 | 3,080 |
Commercial Portfolio Segment [Member] | CLL Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, Low [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 110,475 | 113,007 |
Commercial Real Estate Portfolio Segment [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 19,899 | 20,946 |
Loan To Value Ratio Of Real Estate Loans Paying In Accordance With Contractual Terms | 95.00% | ' |
Commercial Real Estate Portfolio Segment [Member] | Debt Real Estate [Member] | Less than 80% | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 15,576 | 13,570 |
Commercial Real Estate Portfolio Segment [Member] | Debt Real Estate [Member] | 80% to 95% | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 1,300 | 2,572 |
Commercial Real Estate Portfolio Segment [Member] | Debt Real Estate [Member] | Greater than 95% | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 2,111 | 3,604 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Credit Tenant [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, High [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 162 | 219 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Credit Tenant [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, Medium [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 179 | 25 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Credit Tenant [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, Low [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 571 | 956 |
Consumer Portfolio Segment [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Maximum Percentage Of Private Label Consumer Financing Receivables Located In Any Metropolitan Area | 6.00% | ' |
Loans and leases receivable, Gross | 109,039 | 114,349 |
Percent Of Non US Mortgages With Loan To Value Ratios Greater Than 90 Percent Covered By Third Party Mortgage Insurance | 24.00% | ' |
Percent of Financing Receivable Accounts With Credit Bureau Equivalent of 625 Or Less | 97.00% | ' |
Number Of Consumer Financing Receivable Customers Across US Including Private Label Credit Card And Sales Financing | 61 | ' |
Percentage of customers with no metropolitan statistical area | 6.00% | ' |
Percentage Of US Consumer Financing Receivables Related To Credit Cards Loans | 67.00% | ' |
Percentage Of US Consumer Financing Receivables Related To Sales Finance Receivables | 33.00% | ' |
Consumer Portfolio Segment [Member] | Non US residential mortgages [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 30,501 | 33,350 |
Consumer Portfolio Segment [Member] | Non US residential mortgages [Member] | 80% or less | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 17,224 | 18,568 |
Consumer Portfolio Segment [Member] | Non US residential mortgages [Member] | Greater than 80% to 90% | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 5,130 | 5,699 |
Consumer Portfolio Segment [Member] | Non US residential mortgages [Member] | Greater than 90% | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 8,147 | 9,083 |
Consumer Portfolio Segment [Member] | Non US installment and revolving credit [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 13,677 | 17,816 |
Consumer Portfolio Segment [Member] | Non US installment and revolving credit [Member] | Score 671 or Higher [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 8,310 | 10,228 |
Consumer Portfolio Segment [Member] | Non US installment and revolving credit [Member] | Score 626 to 670 [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 2,855 | 4,267 |
Consumer Portfolio Segment [Member] | Non US installment and revolving credit [Member] | Score 625 or Less [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 2,512 | 3,321 |
Consumer Portfolio Segment [Member] | US installment and revolving credit [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 55,854 | 50,853 |
Consumer Portfolio Segment [Member] | US installment and revolving credit [Member] | Score 671 or Higher [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 36,723 | 33,204 |
Consumer Portfolio Segment [Member] | US installment and revolving credit [Member] | Score 626 to 670 [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 11,101 | 9,753 |
Consumer Portfolio Segment [Member] | US installment and revolving credit [Member] | Score 625 or Less [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 8,030 | 7,896 |
Consumer Portfolio Segment [Member] | Non US auto [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 2,054 | 4,260 |
Consumer Portfolio Segment [Member] | Non US auto [Member] | Score 671 or Higher [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 1,395 | 3,141 |
Consumer Portfolio Segment [Member] | Non US auto [Member] | Score 626 to 670 [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 373 | 666 |
Consumer Portfolio Segment [Member] | Non US auto [Member] | Score 625 or Less [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 286 | 453 |
Consumer Portfolio Segment [Member] | Consumer Other Financing Receivable [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, High [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 501 | 746 |
Consumer Portfolio Segment [Member] | Consumer Other Financing Receivable [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, Medium [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 315 | 451 |
Consumer Portfolio Segment [Member] | Consumer Other Financing Receivable [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, Low [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | $6,137 | $6,873 |
Consumer Portfolio Segment [Member] | UK | Non US residential mortgages [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Reindexed Loan To Value Ratios Of Non US Mortgages | 77.00% | ' |
Consumer Portfolio Segment [Member] | France | Non US residential mortgages [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Reindexed Loan To Value Ratios Of Non US Mortgages | 56.00% | ' |
Property_Plant_and_Equipment_D
Property, Plant and Equipment (Details) (USD $) | 12 Months Ended | ||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Property, Plant and Equipment | ' | ' | ' | ||
Original cost | $116,469 | $114,568 | ' | ||
Property, plant and equipment - net | 68,827 | 68,633 | ' | ||
Depreciation and amortization | 9,762 | 9,192 | 8,986 | ||
Equipment Leased to Other Party [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Original cost | 1,353 | 1,466 | ' | ||
Less accumulated depreciation and amortization | 342 | 451 | ' | ||
Consolidation, Eliminations [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Original cost | -347 | -363 | ' | ||
Property, plant and equipment - net | -354 | -367 | ' | ||
Subsidiaries [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Original cost | 38,249 | 35,878 | ' | ||
Property, plant and equipment - net | 17,574 | [1] | 16,033 | [1] | ' |
Subsidiaries [Member] | Land and Land Improvements [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Original cost | 707 | 612 | ' | ||
Property, plant and equipment - net | 671 | 582 | ' | ||
Subsidiaries [Member] | Land and Land Improvements [Member] | Minimum [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Depreciable lives-new (in years) | '8 years | ' | ' | ||
Subsidiaries [Member] | Land and Land Improvements [Member] | Maximum [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Depreciable lives-new (in years) | '8 years | ' | ' | ||
Subsidiaries [Member] | Buildings, Structures and Related Equipment [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Original cost | 8,910 | 8,361 | ' | ||
Property, plant and equipment - net | 4,205 | 4,003 | ' | ||
Subsidiaries [Member] | Buildings, Structures and Related Equipment [Member] | Minimum [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Depreciable lives-new (in years) | '8 years | ' | ' | ||
Subsidiaries [Member] | Buildings, Structures and Related Equipment [Member] | Maximum [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Depreciable lives-new (in years) | '40 years | ' | ' | ||
Subsidiaries [Member] | Machinery and Equipment [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Original cost | 25,323 | 24,090 | ' | ||
Property, plant and equipment - net | 9,701 | 9,061 | ' | ||
Subsidiaries [Member] | Machinery and Equipment [Member] | Minimum [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Depreciable lives-new (in years) | '4 years | ' | ' | ||
Subsidiaries [Member] | Machinery and Equipment [Member] | Maximum [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Depreciable lives-new (in years) | '20 years | ' | ' | ||
Subsidiaries [Member] | Leasehold Costs And Manufacturing Plant Under Construction [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Original cost | 3,309 | 2,815 | ' | ||
Property, plant and equipment - net | 2,997 | 2,387 | ' | ||
Subsidiaries [Member] | Leasehold Costs And Manufacturing Plant Under Construction [Member] | Minimum [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Depreciable lives-new (in years) | '1 year | ' | ' | ||
Subsidiaries [Member] | Leasehold Costs And Manufacturing Plant Under Construction [Member] | Maximum [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Depreciable lives-new (in years) | '10 years | ' | ' | ||
Subsidiaries GECC [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Original cost | 78,567 | 79,053 | ' | ||
Property, plant and equipment - net | 51,607 | 52,967 | ' | ||
Impairment of Long-Lived Assets Held-for-use | 732 | 242 | ' | ||
Amortization of Leased Asset | 6,696 | 6,097 | 6,063 | ||
Subsidiaries GECC [Member] | Land and Land Improvements [Member] | Minimum [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Depreciable lives-new (in years) | '1 year | ' | ' | ||
Subsidiaries GECC [Member] | Land and Land Improvements [Member] | Maximum [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Depreciable lives-new (in years) | '35 years | ' | ' | ||
Subsidiaries GECC [Member] | Land And Improvements, Buildings, Structures And Related Equipment [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Original cost | 2,504 | 2,485 | ' | ||
Property, plant and equipment - net | 1,025 | 999 | ' | ||
Subsidiaries GECC [Member] | Equipment Leased to Other Party [Member] | Air Transportation Equipment [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Original cost | 50,337 | 49,954 | ' | ||
Property, plant and equipment - net | 34,938 | 36,231 | ' | ||
Subsidiaries GECC [Member] | Equipment Leased to Other Party [Member] | Air Transportation Equipment [Member] | Minimum [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Depreciable lives-new (in years) | '20 years | ' | ' | ||
Subsidiaries GECC [Member] | Equipment Leased to Other Party [Member] | Air Transportation Equipment [Member] | Maximum [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Depreciable lives-new (in years) | '20 years | ' | ' | ||
Subsidiaries GECC [Member] | Equipment Leased to Other Party [Member] | Vehicles [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Original cost | 14,656 | 15,952 | ' | ||
Property, plant and equipment - net | 8,312 | 8,634 | ' | ||
Subsidiaries GECC [Member] | Equipment Leased to Other Party [Member] | Vehicles [Member] | Minimum [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Depreciable lives-new (in years) | '1 year | ' | ' | ||
Subsidiaries GECC [Member] | Equipment Leased to Other Party [Member] | Vehicles [Member] | Maximum [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Depreciable lives-new (in years) | '20 years | ' | ' | ||
Subsidiaries GECC [Member] | Equipment Leased to Other Party [Member] | Railroad Transportation Equipment [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Original cost | 4,636 | 4,180 | ' | ||
Property, plant and equipment - net | 3,129 | 2,744 | ' | ||
Subsidiaries GECC [Member] | Equipment Leased to Other Party [Member] | Railroad Transportation Equipment [Member] | Minimum [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Depreciable lives-new (in years) | '4 years | ' | ' | ||
Subsidiaries GECC [Member] | Equipment Leased to Other Party [Member] | Railroad Transportation Equipment [Member] | Maximum [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Depreciable lives-new (in years) | '50 years | ' | ' | ||
Subsidiaries GECC [Member] | Equipment Leased to Other Party [Member] | Construction And Manufacturing [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Original cost | 2,916 | 3,055 | ' | ||
Property, plant and equipment - net | 1,955 | 2,069 | ' | ||
Subsidiaries GECC [Member] | Equipment Leased to Other Party [Member] | Construction And Manufacturing [Member] | Minimum [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Depreciable lives-new (in years) | '1 year | ' | ' | ||
Subsidiaries GECC [Member] | Equipment Leased to Other Party [Member] | Construction And Manufacturing [Member] | Maximum [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Depreciable lives-new (in years) | '30 years | ' | ' | ||
Subsidiaries GECC [Member] | Equipment Leased to Other Party [Member] | Other Machinery and Equipment [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Original cost | 3,518 | 3,427 | ' | ||
Property, plant and equipment - net | $2,248 | $2,290 | ' | ||
Subsidiaries GECC [Member] | Equipment Leased to Other Party [Member] | Other Machinery and Equipment [Member] | Minimum [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Depreciable lives-new (in years) | '7 years | ' | ' | ||
Subsidiaries GECC [Member] | Equipment Leased to Other Party [Member] | Other Machinery and Equipment [Member] | Maximum [Member] | ' | ' | ' | ||
Property, Plant and Equipment | ' | ' | ' | ||
Depreciable lives-new (in years) | '27 years | ' | ' | ||
[1] | (a)Â Â Â Â Â Â Â Â 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. |
Property_Plant_and_Equipment_L
Property, Plant and Equipment (Leases) (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Property, Plant and Equipment [Abstract] | ' |
2014 | $7,168 |
2015 | 5,925 |
2016 | 4,838 |
2017 | 3,823 |
2018 | 3,070 |
2019 and later | 7,695 |
Total | $32,519 |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets (Goodwill) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
In Millions, unless otherwise specified | |||||
Goodwill [Line Items] | ' | ' | ' | ||
Goodwill | $77,648 | $73,114 | $72,297 | ||
Intangible assets subject to amortization | 14,150 | 11,821 | ' | ||
Indefinite-lived intangible assets | 160 | 159 | ' | ||
Other Intangible assets - Net | 14,310 | 11,980 | ' | ||
Subsidiaries [Member] | ' | ' | ' | ||
Goodwill [Line Items] | ' | ' | ' | ||
Goodwill | 51,453 | [1] | 46,143 | [1] | ' |
Other Intangible assets - Net | 13,180 | [1] | 10,700 | [1] | ' |
Subsidiaries GECC [Member] | ' | ' | ' | ||
Goodwill [Line Items] | ' | ' | ' | ||
Goodwill | 26,195 | 26,971 | ' | ||
Other Intangible assets - Net | $1,136 | $1,287 | ' | ||
[1] | (a)Â Â Â Â Â Â Â Â Represents the adding together of all affiliated companies except General Electric Capital Corporation (GECC or financial services), which is presented on a one-line basis. See Note 1. |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets (Changes in Goodwill Balances) (Details) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 31, 2012 | Mar. 27, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Aug. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 02, 2011 | Sep. 02, 2011 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
USD ($) | USD ($) | USD ($) | USD ($) | Commercial Real Estate Portfolio Segment [Member] | Acquisition Avio SpA [Member] | Acquisition Avio SpA [Member] | Acquisition Lufkin Industries Inc [Member] | Acquisition Converteam [Member] | Acquisition Converteam [Member] | Acquisition Converteam [Member] | Acquisition Industrea Limited [Member] | Power And Water [Member] | Power And Water [Member] | Power And Water [Member] | Oil And Gas [Member] | Oil And Gas [Member] | Oil And Gas [Member] | Energy Management [Member] | Energy Management [Member] | Energy Management [Member] | Aviation [Member] | Aviation [Member] | Aviation [Member] | Healthcare [Member] | Healthcare [Member] | Healthcare [Member] | Transportation [Member] | Transportation [Member] | Transportation [Member] | Transportation [Member] | Appliances And Lighting [Member] | Appliances And Lighting [Member] | Appliances And Lighting [Member] | GE Capital [Member] | GE Capital [Member] | GE Capital [Member] | Corporate Items And Eliminations [Member] | Corporate Items And Eliminations [Member] | Corporate Items And Eliminations [Member] | ||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Acquisition Railcar Management Incorporated [Member] | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||||||
USD ($) | |||||||||||||||||||||||||||||||||||||||||
Changes In Goodwill Balances | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions | $5,333,000,000 | $845,000,000 | ' | ' | ' | ' | $3,043,000,000 | ' | $2,027,000,000 | ' | ' | ' | ' | $0 | $0 | ' | $2,217,000,000 | $113,000,000 | ' | $7,000,000 | $0 | ' | $3,043,000,000 | $55,000,000 | ' | $45,000,000 | $221,000,000 | ' | $0 | $445,000,000 | ' | ' | $0 | $11,000,000 | ' | $17,000,000 | $0 | ' | $4,000,000 | $0 | ' |
Dispositions, currency exchange and other | 799,000,000 | 28,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,000,000 | -52,000,000 | ' | 66,000,000 | -19,000,000 | ' | -131,000,000 | 11,000,000 | ' | -85,000,000 | 76,000,000 | ' | 164,000,000 | 90,000,000 | ' | -13,000,000 | -3,000,000 | ' | ' | 5,000,000 | -6,000,000 | ' | 793,000,000 | -69,000,000 | ' | 1,000,000 | 0 | ' |
Goodwill, period increase (decrease) | 4,534,000,000 | 817,000,000 | ' | ' | ' | ' | 3,043,000,000 | ' | 2,027,000,000 | ' | ' | ' | 282,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 136,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill | 77,648,000,000 | 73,114,000,000 | 72,297,000,000 | ' | ' | 742,000,000 | ' | ' | ' | ' | ' | ' | ' | 8,822,000,000 | 8,821,000,000 | 8,769,000,000 | 10,516,000,000 | 8,365,000,000 | 8,233,000,000 | 4,748,000,000 | 4,610,000,000 | 4,621,000,000 | 9,103,000,000 | 5,975,000,000 | 5,996,000,000 | 16,643,000,000 | 16,762,000,000 | 16,631,000,000 | 1,012,000,000 | 999,000,000 | 551,000,000 | ' | 606,000,000 | 611,000,000 | 594,000,000 | ' | ' | 26,902,000,000 | 3,000,000 | 0 | 0 |
Goodwill, Translation Adjustments | 356,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to Acquire Businesses, Net of Cash Acquired | 1,642,000,000 | 1,456,000,000 | 11,202,000,000 | ' | ' | ' | 4,449,000,000 | ' | 3,309,000,000 | 3,586,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage Ownership In Joint Venture | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pre Tax Gain On Deconsolidation Of Business Contributed To Joint Venture | ' | ' | ' | 274,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
After Tax Gain On Deconsolidation Of Business Contributed To Joint Venture | ' | ' | ' | 152,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discount Rates Used In Reporting Unit Valuations Minimum Rate | 8.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discount Rates Used In Reporting Unit Valuations Maximum Rate | 16.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discount Rate Goodwill Impairment | ' | ' | ' | ' | ' | 11.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Preexisting Relationship, Gain (Loss) Recognized | ' | ' | ' | ' | ' | ' | ' | 96,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Percentage of Voting Interests Acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 90.00% | 90.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining Percentage Of Business That Could Be Purchased | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Price Of Remaining Percentage That Could Be Purchased | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 465,000,000 | 343,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount Carrying Value Exceeds Estimated Fair Value | ' | ' | ' | ' | ' | $3,700,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill_and_Other_Intangible_4
Goodwill and Other Intangible Assets (Intangible Assets Subject to Amortization) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | $26,061 | ' | ' |
Accumulated amortization | -11,911 | ' | ' |
Net | 14,150 | 11,821 | ' |
Intangible Assets, Net (Excluding Goodwill) | 14,310 | 11,980 | ' |
Increase (Decrease) in Intangible Assets, Current | 3,735 | ' | ' |
Amortization expense | 1,711 | 1,612 | 1,744 |
2014 | 1,588 | ' | ' |
2015 | 1,473 | ' | ' |
2016 | 1,336 | ' | ' |
2017 | 1,185 | ' | ' |
2018 | 1,026 | ' | ' |
Acquisition Avio SpA [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Increase (Decrease) in Intangible Assets, Current | 1,830 | ' | ' |
Acquisition Lufkin Industries Inc [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Increase (Decrease) in Intangible Assets, Current | 997 | ' | ' |
Customer Relationships [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | 7,938 | ' | ' |
Accumulated amortization | -2,312 | ' | ' |
Finite-lived Intangible Assets Acquired | 1,257 | ' | ' |
Finite-Lived Intangible Assets, Useful Life Average | '21.9 | ' | ' |
Patents And Technology [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | 6,602 | ' | ' |
Accumulated amortization | -2,621 | ' | ' |
Finite-lived Intangible Assets Acquired | 1,255 | ' | ' |
Finite-Lived Intangible Assets, Useful Life Average | '25.5 | ' | ' |
Computer Software, Intangible Asset [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | 8,256 | ' | ' |
Accumulated amortization | -5,252 | ' | ' |
Finite-lived Intangible Assets Acquired | 732 | ' | ' |
Finite-Lived Intangible Assets, Useful Life Average | '4.6 | ' | ' |
Leases, Acquired-in-Place [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | 703 | ' | ' |
Accumulated amortization | -498 | ' | ' |
Finite-lived Intangible Assets Acquired | 2 | ' | ' |
Finite-Lived Intangible Assets, Useful Life Average | '5.0 | ' | ' |
Present Value Of Future Profits [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | 574 | ' | ' |
Accumulated amortization | -574 | ' | ' |
Adjustments To Reflect Present Value Of Future Profits In Run Off Insurance Operations To Reflect Effects That Would Have Been Recognized Had Related Unrealized Investment Securities Holding Gains Loses Actually Been Realized | 322 | 353 | ' |
Trademarks [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | 1,356 | 995 | ' |
Accumulated amortization | -295 | -239 | ' |
Net | 1,061 | 756 | ' |
Finite-lived Intangible Assets Acquired | 363 | ' | ' |
Finite-Lived Intangible Assets, Useful Life Average | '28.1 | ' | ' |
All Other [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | 632 | ' | ' |
Accumulated amortization | -359 | ' | ' |
Finite-lived Intangible Assets Acquired | 126 | ' | ' |
Finite-Lived Intangible Assets, Useful Life Average | '22.4 | ' | ' |
Subsidiaries GECC [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | ' | 22,986 | ' |
Accumulated amortization | ' | -11,165 | ' |
Intangible Assets, Net (Excluding Goodwill) | 1,136 | 1,287 | ' |
Amortization expense | 425 | 447 | 562 |
Subsidiaries GECC [Member] | Customer Relationships [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | ' | 6,977 | ' |
Accumulated amortization | ' | -2,156 | ' |
Net | 5,626 | 4,821 | ' |
Subsidiaries GECC [Member] | Patents And Technology [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | ' | 5,432 | ' |
Accumulated amortization | ' | -2,406 | ' |
Net | 3,981 | 3,026 | ' |
Subsidiaries GECC [Member] | Computer Software, Intangible Asset [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | ' | 7,514 | ' |
Accumulated amortization | ' | -4,673 | ' |
Net | 3,004 | 2,841 | ' |
Subsidiaries GECC [Member] | Leases, Acquired-in-Place [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | ' | 1,163 | ' |
Accumulated amortization | ' | -792 | ' |
Net | 205 | 371 | ' |
Subsidiaries GECC [Member] | Present Value Of Future Profits [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | ' | 530 | ' |
Accumulated amortization | ' | -530 | ' |
Net | 0 | 0 | ' |
Subsidiaries GECC [Member] | All Other [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | ' | 375 | ' |
Accumulated amortization | ' | -369 | ' |
Net | $273 | $6 | ' |
All_Other_Assets_Details
All Other Assets (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | ||||
Investments | ' | ' | ||
Assets held for sale | $50 | $211 | ||
Investments | 43,981 | 48,510 | ||
Other Assets | 70,808 | 101,644 | ||
Other Assets [Member] | ' | ' | ||
Investments | ' | ' | ||
Eliminations | -266 | -76 | ||
Subsidiaries [Member] | ' | ' | ||
Investments | ' | ' | ||
Assets held for sale | 0 | [1] | 0 | [1] |
Investments | 323 | [1] | 74 | [1] |
Long-term Investments and Receivables, Net | 993 | 714 | ||
Derivative instruments | 623 | 383 | ||
Other | 5,007 | 4,782 | ||
Other Assets | 23,708 | [1] | 39,534 | [1] |
Subsidiaries [Member] | Other Assets [Member] | ' | ' | ||
Investments | ' | ' | ||
Investments | 4,563 | 22,614 | ||
Contract costs and estimated earnings | 12,522 | 11,041 | ||
Subsidiaries [Member] | Other Assets [Member] | Investments [Member] | ' | ' | ||
Investments | ' | ' | ||
Associated companies | 3,937 | 22,169 | ||
Other investments | 626 | 445 | ||
Subsidiaries GECC [Member] | ' | ' | ||
Investments | ' | ' | ||
Assets held for sale | 50 | 211 | ||
Investments | 43,662 | 48,439 | ||
Other Assets | 47,366 | 62,186 | ||
Subsidiaries GECC [Member] | Other Assets [Member] | ' | ' | ||
Investments | ' | ' | ||
Derivative instruments | 1,117 | 3,557 | ||
Deferred borrowing costs | 867 | 940 | ||
Advances to suppliers | 2,328 | 1,805 | ||
Deferred acquistion costs | 29 | 46 | ||
Other | 4,551 | 4,260 | ||
Subsidiaries GECC [Member] | Other Assets [Member] | Investments [Member] | ' | ' | ||
Investments | ' | ' | ||
Real estate | 16,163 | 25,154 | ||
Associated companies | 17,348 | 19,119 | ||
Assets held for sale | 2,571 | 4,194 | ||
Cost method | 1,462 | 1,665 | ||
Other investments | 930 | 1,446 | ||
Investments | $38,474 | $51,578 | ||
[1] | (a)Â Â Â Â Â Â Â Â 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. |
All_Other_Assets_Parenthetical
All Other Assets (Parenthetical) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
NBCU LLC [Member] | ' | ' |
Other Assets | ' | ' |
Equity Method Investments | ' | $18,887 |
Subsidiaries [Member] | ' | ' |
Other Assets | ' | ' |
Amount Of Liability Net Against Contract Costs And Estimated Earnings | 1,842 | 1,498 |
Subsidiaries [Member] | NBCU LLC [Member] | ' | ' |
Other Assets | ' | ' |
Equity Method Investments | ' | 18,887 |
Deferred Tax Liabilities, Net | ' | 4,937 |
Subsidiaries GECC [Member] | ' | ' |
Other Assets | ' | ' |
Intercompany loans long term invesments and receivables, net | ' | 0 |
Valuation allowances | 127 | 200 |
Supplementary Insurance Information, Deferred Policy Acquisition Costs | 700 | 764 |
Subsidiaries GECC [Member] | Continuous Loss Position Less Than Twelve Months [Member] | ' | ' |
Other Assets | ' | ' |
Fair value on cost method investments in a continuous loss position | ' | 37 |
Cost Method Investments Fair Value Insignificant Amount Disclosure | 'an insignificant amount | ' |
Unrealized loss on cost method investments in a continuous loss position | 17 | 142 |
Subsidiaries GECC [Member] | Continuous Loss Position More Than Twelve Months [Member] | ' | ' |
Other Assets | ' | ' |
Fair value on cost method investments in a continuous loss position | ' | $2 |
Cost Method Investments Fair Value Insignificant Amount Disclosure | 'an insignificant amount | ' |
Insignificant Amount Of Unrealized Gain Loss On Marketable Securities Cost Method Investments And Other Investments | 'an insignificant amount | 'an insignificant amount |
Subsidiaries GECC [Member] | Americas [Member] | ' | ' |
Other Assets | ' | ' |
Category of real estate investments | 41.00% | ' |
Subsidiaries GECC [Member] | Europe [Member] | ' | ' |
Other Assets | ' | ' |
Category of real estate investments | 35.00% | ' |
Subsidiaries GECC [Member] | Asia [Member] | ' | ' |
Other Assets | ' | ' |
Category of real estate investments | 24.00% | ' |
Subsidiaries GECC [Member] | Office Building [Member] | ' | ' |
Other Assets | ' | ' |
Category of real estate investments | 52.00% | ' |
Subsidiaries GECC [Member] | Apartment Building [Member] | ' | ' |
Other Assets | ' | ' |
Category of real estate investments | 14.00% | ' |
Subsidiaries GECC [Member] | Industrial Properties [Member] | ' | ' |
Other Assets | ' | ' |
Category of real estate investments | 7.00% | ' |
Subsidiaries GECC [Member] | Retail Facilities [Member] | ' | ' |
Other Assets | ' | ' |
Category of real estate investments | 9.00% | ' |
Subsidiaries GECC [Member] | Franchise Properties [Member] | ' | ' |
Other Assets | ' | ' |
Category of real estate investments | 3.00% | ' |
Subsidiaries GECC [Member] | Other Properties [Member] | ' | ' |
Other Assets | ' | ' |
Category of real estate investments | 15.00% | ' |
GECC_Borrowings_and_Bank_Depos
GECC Borrowings and Bank Deposits (Borrowings) (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Short-term borrowings | $77,890 | $101,392 | ||
Long-term borrowings | 221,665 | 236,084 | ||
Non Recourse Borrowings Of Consolidated Securitization Entities | 30,124 | 30,123 | ||
Bank deposits | 53,361 | 46,200 | ||
Total borrowings and bank deposits | 383,040 | 413,799 | ||
Maturities on long-term borrowings, Minimum | '2014 | ' | ||
Maturities on long-term borrowings, Maximum | '2019 | ' | ||
Long-term Debt, Weighted Average Interest Rate | 1.05% | 1.12% | ||
Scenario, Adjustment [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Short-term borrowings | -1,249 | -589 | ||
Long-term borrowings | -129 | -120 | ||
Subsidiaries [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Short-term borrowings | 1,841 | [1] | 6,041 | [1] |
Long-term borrowings | 11,515 | [1] | 11,428 | [1] |
Non Recourse Borrowings Of Consolidated Securitization Entities | 0 | [1] | 0 | [1] |
Bank deposits | 0 | [1] | 0 | [1] |
Subsidiaries [Member] | Commercial Paper [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Short-term borrowings | 0 | 352 | ||
Short-term Debt, Weighted Average Interest Rate | 0.00% | 0.28% | ||
Subsidiaries [Member] | Notes Payable to Banks [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Short-term borrowings | 346 | 23 | ||
Long-term borrowings | 10 | 13 | ||
Maturities on long-term borrowings, Minimum | '2015 | ' | ||
Maturities on long-term borrowings, Maximum | '2023 | ' | ||
Long-term Debt, Weighted Average Interest Rate | 1.10% | 1.79% | ||
Short-term Debt, Weighted Average Interest Rate | 3.38% | 3.02% | ||
Subsidiaries [Member] | Current Portion Of Long Term Borrowings [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Short-term borrowings | 70 | 5,068 | ||
Short-term Debt, Weighted Average Interest Rate | 5.65% | 5.11% | ||
Subsidiaries [Member] | Other Short Term Borrowing [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Short-term borrowings | 1,425 | 598 | ||
Subsidiaries [Member] | Senior unsecured notes [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Long-term borrowings | 10,968 | 10,963 | ||
Maturities on long-term borrowings, Minimum | '2015 | ' | ||
Maturities on long-term borrowings, Maximum | '2042 | ' | ||
Long-term Debt, Weighted Average Interest Rate | 3.63% | 3.63% | ||
Subsidiaries [Member] | Other Long Term Borrowing [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Long-term borrowings | 537 | 452 | ||
Subsidiaries GECC [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Short-term borrowings | 77,298 | 95,940 | ||
Long-term borrowings | 210,279 | 224,776 | ||
Non Recourse Borrowings Of Consolidated Securitization Entities | 30,124 | 30,123 | ||
Bank deposits | 53,361 | 46,200 | ||
Subsidiaries GECC [Member] | US Commercial Paper [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Short-term borrowings | 24,877 | 33,686 | ||
Short-term Debt, Weighted Average Interest Rate | 0.18% | 0.22% | ||
Subsidiaries GECC [Member] | Non US Commercial Paper [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Short-term borrowings | 4,168 | 9,370 | ||
Short-term Debt, Weighted Average Interest Rate | 0.33% | 0.92% | ||
Subsidiaries GECC [Member] | Current Portion Of Long Term Borrowings [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Short-term borrowings | 39,215 | 44,264 | ||
Non Recourse Borrowings Of Consolidated Securitization Entities | 9,047 | 7,707 | ||
Short-term Debt, Weighted Average Interest Rate | 2.70% | 2.85% | ||
Subsidiaries GECC [Member] | GE Interest Plus notes [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Short-term borrowings | 8,699 | 8,189 | ||
Short-term Debt, Weighted Average Interest Rate | 1.11% | 1.20% | ||
Subsidiaries GECC [Member] | Other Short Term Borrowing [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Short-term borrowings | 339 | 431 | ||
Subsidiaries GECC [Member] | Senior unsecured notes [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Long-term borrowings | 186,433 | 199,646 | ||
Maturities on long-term borrowings, Minimum | '2015 | ' | ||
Maturities on long-term borrowings, Maximum | '2054 | ' | ||
Long-term Debt, Weighted Average Interest Rate | 2.97% | 2.95% | ||
Subsidiaries GECC [Member] | Subordinated notes [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Long-term borrowings | 4,821 | 4,965 | ||
Maturities on long-term borrowings, Minimum | '2021 | ' | ||
Maturities on long-term borrowings, Maximum | '2037 | ' | ||
Long-term Debt, Weighted Average Interest Rate | 3.93% | 2.92% | ||
Subsidiaries GECC [Member] | Subordinated Debt [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Long-term borrowings | 7,462 | 7,286 | ||
Maturities on long-term borrowings, Minimum | '2066 | ' | ||
Maturities on long-term borrowings, Maximum | '2067 | ' | ||
Long-term Debt, Weighted Average Interest Rate | 5.64% | 5.78% | ||
Subsidiaries GECC [Member] | Other Long Term Borrowing [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Long-term borrowings | 11,563 | 12,879 | ||
Subsidiaries GECC [Member] | Long-term Debt [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Non Recourse Borrowings Of Consolidated Securitization Entities | $21,077 | $22,416 | ||
[1] | (a)Â Â Â Â Â Â Â Â 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. |
GECC_Borrowings_and_Bank_Depos1
GECC Borrowings and Bank Deposits (Borrowings Parenthetical) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Oct. 09, 2012 | Oct. 09, 2012 | Oct. 09, 2012 | Oct. 09, 2012 | Feb. 01, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | Notes Due In 2015 [Member] | Notes Due In 2022 [Member] | Notes Due In 2042 [Member] | Notes Repaid [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | |||
Guaranteed investment contracts [Member] | Guaranteed investment contracts [Member] | Subordinated Notes Guaranteed By GE [Member] | Subordinated Notes Guaranteed By GE [Member] | Non US Banks [Member] | Non US Banks [Member] | Non Recourse [Member] | Non Recourse [Member] | Certificates of Deposit [Member] | Certificates of Deposit [Member] | ||||||||||
Borrowings And Bank Deposits [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
GECC issued and outstanding senior, unsecured debt guaranteed by the FDIC | ' | ' | ' | ' | ' | ' | ' | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term borrowings | 221,665 | 236,084 | ' | ' | ' | ' | ' | 210,279 | 224,776 | 481 | 604 | 300 | 300 | ' | ' | ' | ' | ' | ' |
Principal Amount Of GICs Redeemed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 386 | ' | ' | ' | ' | ' | ' | ' | ' |
Secured Debt | ' | ' | ' | ' | ' | ' | ' | 9,468 | 9,757 | ' | ' | ' | ' | ' | ' | 2,868 | 3,294 | ' | ' |
U.S. dollar equivalent of subordinated debentures hedged at issuance | ' | ' | ' | ' | ' | ' | ' | 7,725 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Bank deposits | 53,361 | 46,200 | ' | ' | ' | ' | ' | 53,361 | 46,200 | ' | ' | ' | ' | 13,614 | 15,896 | ' | ' | 18,275 | 17,291 |
Short-term borrowings | 77,890 | 101,392 | ' | ' | ' | ' | ' | 77,298 | 95,940 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior Notes | ' | ' | 7,000 | 2,000 | 3,000 | 2,000 | 5,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior Unsecured Note Interest Rate | ' | ' | ' | 0.85% | 2.70% | 4.13% | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non Recourse Borrowings Of Consolidated Securitization Entities | $30,124 | $30,123 | ' | ' | ' | ' | ' | $30,124 | $30,123 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
GECC_Borrowings_and_Bank_Depos2
GECC Borrowings and Bank Deposits (Liquidity) (Details) (USD $) | 12 Months Ended | ||||||
Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
Maximum [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries [Member] | ||
Three Hundred Sixty Four Day Lines Containing Term Out Feature [Member] | Revolving Credit Facility [Member] | ||||||
Long-term Debt, Fiscal Year Maturity | ' | ' | ' | ' | ' | ' | ' |
2014 | $70,000,000 | ' | ' | $39,215,000,000 | ' | ' | ' |
2015 | 2,189,000,000 | ' | ' | 39,672,000,000 | ' | ' | ' |
2016 | 138,000,000 | ' | ' | 31,987,000,000 | ' | ' | ' |
2017 | 4,023,000,000 | ' | ' | 25,866,000,000 | ' | ' | ' |
2018 | 22,000,000 | ' | ' | 18,183,000,000 | ' | ' | ' |
Fixed and floating rate notes containing put options | ' | ' | 443,000,000 | ' | ' | ' | ' |
Banks extending committed credit lines | 50 | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | ' | $47,800,000,000 | $21,300,000,000 | $26,500,000,000 | $13,900,000,000 |
Extension Period From Date Of Expiration In Term Out Feature | ' | 'two | ' | ' | ' | ' | ' |
Investment_Contracts_Insurance2
Investment Contracts, Insurance Liabilities and Insurance Annuity Benefits (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Investment Contracts Insurance Liabilities And Insurance Annuity Benefits | ' | ' | ' |
Investment contracts | $3,144 | $3,321 | ' |
Guaranteed investment contracts | 1,471 | 1,644 | ' |
Total investment contracts | 4,615 | 4,965 | ' |
Liability for Future Policy Benefits, Life | 18,959 | 20,427 | ' |
Other Investment Contracts | 3,405 | 3,304 | ' |
Total | 26,979 | 28,696 | ' |
Reinsurance Recoveries | 250 | 234 | 224 |
Reinsurance Recoverables Included In Other Receivables | 1,685 | 1,542 | ' |
Minimum [Member] | ' | ' | ' |
Investment Contracts Insurance Liabilities And Insurance Annuity Benefits | ' | ' | ' |
Life insurance benefits, net-level-premium method using estimated yields | 3.00% | 3.00% | ' |
Maximum [Member] | ' | ' | ' |
Investment Contracts Insurance Liabilities And Insurance Annuity Benefits | ' | ' | ' |
Life insurance benefits, net-level-premium method using estimated yields | 8.50% | 8.50% | ' |
Consolidation, Eliminations [Member] | ' | ' | ' |
Investment Contracts Insurance Liabilities And Insurance Annuity Benefits | ' | ' | ' |
Total | ($435) | ($428) | ' |
Postretirement_Benefit_Plans_D
Postretirement Benefit Plans (Details) (USD $) | 12 Months Ended | ||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Cost of Pension Plans | ' | ' | ' | ' | ' |
Prior service cost amortization | ' | -646 | ' | ' | ' |
Net actuarial (gain) loss amortization | ' | -3,962 | ' | ' | ' |
Principal pension plans | ' | ' | ' | ' | ' |
Cost of Pension Plans | ' | ' | ' | ' | ' |
Prior service cost amortization | ' | -246 | ' | ' | ' |
Net actuarial (gain) loss amortization | ' | -3,664 | ' | ' | ' |
Other Pension Plan, Defined Benefit [Member] | ' | ' | ' | ' | ' |
Cost of Pension Plans | ' | ' | ' | ' | ' |
Prior service cost amortization | ' | -7 | ' | ' | ' |
Net actuarial (gain) loss amortization | ' | -343 | ' | ' | ' |
Principal Retiree Health and Life Insurance Plans [Member] | ' | ' | ' | ' | ' |
Cost of Pension Plans | ' | ' | ' | ' | ' |
Prior service cost amortization | ' | -393 | ' | ' | ' |
Net actuarial (gain) loss amortization | ' | 45 | ' | ' | ' |
Pension Benefit Plan [Member] | ' | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' |
Percentage of total pension assets disclosed | ' | 99.00% | ' | ' | ' |
Pension Plan Participants | ' | ' | ' | ' | ' |
Active employees | ' | 128,000 | ' | ' | ' |
Vested former employees | ' | 229,000 | ' | ' | ' |
Retirees and beneficiaries | ' | 263,000 | ' | ' | ' |
Total pension plan participants | ' | 620,000 | ' | ' | ' |
Funding Policy | ' | ' | ' | ' | ' |
Amount Expected To Be Contributed To Fund Company Pension Plan | 528 | 0 | 433 | ' | ' |
Weighted average discount rate used for determination of costs | 7.50% | 8.00% | 8.00% | 8.00% | ' |
Pension Benefit Plan [Member] | Postretirement Benefit Costs [Member] | ' | ' | ' | ' | ' |
Cost of Pension Plans | ' | ' | ' | ' | ' |
Service cost for benefits earned | ' | 1,970 | 1,779 | 1,498 | ' |
Prior service cost amortization | ' | 253 | 287 | 207 | ' |
Expected return on plan assets | ' | -4,163 | -4,394 | -4,543 | ' |
Interest cost on benefit obligation | ' | 2,983 | 2,993 | 3,176 | ' |
Net actuarial (gain) loss amortization | ' | 4,007 | 3,701 | 2,486 | ' |
Pension plans cost | ' | 5,050 | 4,366 | 2,824 | ' |
Pension Benefit Plan [Member] | Principal pension plans | ' | ' | ' | ' | ' |
Pension Plan Participants | ' | ' | ' | ' | ' |
Active employees | ' | 94,000 | ' | ' | ' |
Vested former employees | ' | 184,000 | ' | ' | ' |
Retirees and beneficiaries | ' | 230,000 | ' | ' | ' |
Total pension plan participants | ' | 508,000 | ' | ' | ' |
Actuarial assumptions | ' | ' | ' | ' | ' |
Discount rate | ' | 4.85% | 3.96% | 4.21% | 5.28% |
Compensation increases | ' | 4.00% | 3.90% | 3.75% | 4.25% |
Expected return on assets | ' | 7.50% | 8.00% | 8.00% | 8.00% |
Funding Policy | ' | ' | ' | ' | ' |
Expected Future Benefit Payments And Administrative Expenses | 244 | ' | ' | ' | ' |
Expected return on assets | ' | 7.50% | 8.00% | 8.00% | 8.00% |
Pension Benefit Plan [Member] | Principal pension plans | Postretirement Benefit Costs [Member] | ' | ' | ' | ' | ' |
Cost of Pension Plans | ' | ' | ' | ' | ' |
Service cost for benefits earned | ' | 1,535 | 1,387 | 1,195 | ' |
Prior service cost amortization | ' | 246 | 279 | 194 | ' |
Expected return on plan assets | ' | -3,500 | -3,768 | -3,940 | ' |
Interest cost on benefit obligation | ' | 2,460 | 2,479 | 2,662 | ' |
Net actuarial (gain) loss amortization | ' | 3,664 | 3,421 | 2,335 | ' |
Pension plans cost | ' | 4,405 | 3,798 | 2,446 | ' |
Pension Benefit Plan [Member] | 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 | ' | 40 | ' | ' | ' |
Minimum Pension Assets Or Obligations | ' | 50 | ' | ' | ' |
Pension Plan Participants | ' | ' | ' | ' | ' |
Active employees | ' | 34,000 | ' | ' | ' |
Vested former employees | ' | 45,000 | ' | ' | ' |
Retirees and beneficiaries | ' | 33,000 | ' | ' | ' |
Total pension plan participants | ' | 112,000 | ' | ' | ' |
Actuarial assumptions | ' | ' | ' | ' | ' |
Discount rate | ' | 4.39% | 3.92% | 4.42% | 5.11% |
Compensation increases | ' | 3.76% | 3.30% | 4.31% | 4.44% |
Expected return on assets | ' | 6.92% | 6.82% | 7.09% | 7.25% |
Funding Policy | ' | ' | ' | ' | ' |
Amount Expected To Be Contributed To Fund Company Pension Plan | 800 | 673 | ' | ' | ' |
Expected Future Benefit Payments And Administrative Expenses | ' | 225 | ' | ' | ' |
Expected return on assets | ' | 6.92% | 6.82% | 7.09% | 7.25% |
Pension Benefit Plan [Member] | Other Pension Plan, Defined Benefit [Member] | Postretirement Benefit Costs [Member] | ' | ' | ' | ' | ' |
Cost of Pension Plans | ' | ' | ' | ' | ' |
Service cost for benefits earned | ' | 435 | 392 | 303 | ' |
Prior service cost amortization | ' | 7 | 8 | 13 | ' |
Expected return on plan assets | ' | -663 | -626 | -603 | ' |
Interest cost on benefit obligation | ' | 523 | 514 | 514 | ' |
Net actuarial (gain) loss amortization | ' | 343 | 280 | 151 | ' |
Pension plans cost | ' | 645 | 568 | 378 | ' |
Retiree Benefit Plan [Member] | ' | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' |
Retirees and beneficiaries | ' | 198,000 | ' | ' | ' |
Funding Policy | ' | ' | ' | ' | ' |
Weighted average discount rate used for determination of costs | ' | 3.77% | 3.94% | ' | ' |
Retiree Benefit Plan [Member] | Postretirement Benefit Costs [Member] | ' | ' | ' | ' | ' |
Cost of Pension Plans | ' | ' | ' | ' | ' |
Service cost for benefits earned | ' | 229 | 219 | 216 | ' |
Prior service cost amortization | ' | 393 | 518 | 647 | ' |
Expected return on plan assets | ' | -60 | -73 | -97 | ' |
Interest cost on benefit obligation | ' | 410 | 491 | 604 | ' |
Net actuarial (gain) loss amortization | ' | -45 | 32 | -110 | ' |
Net curtailment / other gain | ' | 0 | -101 | 0 | ' |
Pension plans cost | ' | 927 | 1,086 | 1,260 | ' |
Retiree Benefit Plan [Member] | Principal Retiree Health and Life Insurance Plans [Member] | ' | ' | ' | ' | ' |
Actuarial assumptions | ' | ' | ' | ' | ' |
Discount rate | ' | 4.61% | 3.74% | 4.09% | 5.15% |
Compensation increases | ' | 4.00% | 3.90% | 3.75% | 4.25% |
Expected return on assets | ' | 7.00% | 7.00% | 7.00% | 8.00% |
Funding Policy | ' | ' | ' | ' | ' |
Retiree Health Plan Postretirement Health Benefit Contributions | ' | 545 | ' | ' | ' |
Ultimate declining initial healthcare trend rate | ' | 5.00% | ' | ' | ' |
Expected return on assets | ' | 7.00% | 7.00% | 7.00% | 8.00% |
Initial healthcare trend rate | ' | 6.00% | 6.50% | 7.00% | 7.00% |
Postretirement_Benefit_Plans_B
Postretirement Benefit Plans (Benefit Obligations) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Pension Benefit Plan [Member] | Principal pension plans | ' | ' |
Projected Benefit Obligation | ' | ' |
Participant contributions | ($156) | ($157) |
Actuarial loss (gain) | -11,555 | -24,437 |
Benefits paid | 3,134 | 3,052 |
Acquisitions (dispositions)-net | 0 | 0 |
Defined Benefit Plan, Foreign Currency Exchange Rate Gain (Loss) | 0 | 0 |
Pension Benefit Plan [Member] | Other Pension Plan, Defined Benefit [Member] | ' | ' |
Projected Benefit Obligation | ' | ' |
Participant contributions | -14 | -16 |
Actuarial loss (gain) | -2,459 | -3,962 |
Benefits paid | 477 | 425 |
Acquisitions (dispositions)-net | -31 | 0 |
Defined Benefit Plan, Foreign Currency Exchange Rate Gain (Loss) | -34 | 273 |
Pension Benefit Plan [Member] | Supplemental Employee Retirement Plan, Defined Benefit [Member] | ' | ' |
Projected Benefit Obligation | ' | ' |
Benefit obligation, Balance at December 31, | 5,162 | 5,494 |
Pension Benefit Plan [Member] | Funded Plans With Assets Less Than ABO [Member] | ' | ' |
Projected Benefit Obligation | ' | ' |
Benefit obligation, Balance at December 31, | 63,532 | 69,234 |
Pension Benefit Plan [Member] | Unfunded Plans [Member] | ' | ' |
Projected Benefit Obligation | ' | ' |
Benefit obligation, Balance at December 31, | 6,512 | 6,828 |
Pension Benefit Plan [Member] | Projected Benefit Obligation [Member] | Principal pension plans | ' | ' |
Projected Benefit Obligation | ' | ' |
Benefit obligation, Balance at January 1, | 63,502 | 60,510 |
Service cost for benefits earned | 1,535 | 1,387 |
Interest cost on benefit obligation | 2,460 | 2,479 |
Participant contributions | 156 | 157 |
Plan amendments | 0 | 0 |
Actuarial loss (gain) | -6,406 | 2,021 |
Benefits paid | -3,134 | -3,052 |
Acquisitions (dispositions)-net | 0 | 0 |
Defined Benefit Plan, Foreign Currency Exchange Rate Gain (Loss) | 0 | 0 |
Benefit obligation, Balance at December 31, | 58,113 | 63,502 |
Pension Benefit Plan [Member] | Projected Benefit Obligation [Member] | Other Pension Plan, Defined Benefit [Member] | ' | ' |
Projected Benefit Obligation | ' | ' |
Benefit obligation, Balance at January 1, | 13,584 | 11,637 |
Service cost for benefits earned | 435 | 392 |
Interest cost on benefit obligation | 523 | 514 |
Participant contributions | 14 | 16 |
Plan amendments | 11 | -6 |
Actuarial loss (gain) | -575 | 890 |
Benefits paid | -477 | -425 |
Acquisitions (dispositions)-net | 46 | 230 |
Defined Benefit Plan, Foreign Currency Exchange Rate Gain (Loss) | -26 | 336 |
Benefit obligation, Balance at December 31, | 13,535 | 13,584 |
Retiree Benefit Plan [Member] | ' | ' |
Projected Benefit Obligation | ' | ' |
Actuarial loss (gain) | 1,667 | -182 |
Retiree Benefit Plan [Member] | Projected Benefit Obligation [Member] | ' | ' |
Projected Benefit Obligation | ' | ' |
Benefit obligation, Balance at January 1, | 11,804 | 13,056 |
Service cost for benefits earned | 229 | 219 |
Interest cost on benefit obligation | 410 | 491 |
Participant contributions | 52 | 54 |
Plan amendments | 0 | -832 |
Actuarial loss (gain) | -1,836 | -60 |
Benefits paid | -746 | -758 |
Net curtailment / other gain | 0 | 366 |
Benefit obligation, Balance at December 31, | $9,913 | $11,804 |
Postretirement_Benefit_Plans_A
Postretirement Benefit Plans (Accumulated Benefit Obligation) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | Pension Benefit Plan [Member] | Pension Benefit Plan [Member] | Pension Benefit Plan [Member] | Pension Benefit Plan [Member] | Pension Benefit Plan [Member] | Pension Benefit Plan [Member] | Pension Benefit Plan [Member] | Pension Benefit Plan [Member] | Pension Benefit Plan [Member] | Pension Benefit Plan [Member] | Pension Benefit Plan [Member] | Pension Benefit Plan [Member] | Pension Benefit Plan [Member] | Pension Benefit Plan [Member] | Retiree Benefit Plan [Member] | Retiree Benefit Plan [Member] | Retiree Benefit Plan [Member] |
Principal pension plans | Principal pension plans | Principal pension plans | Other Pension Plan, Defined Benefit [Member] | Other Pension Plan, Defined Benefit [Member] | Other Pension Plan, Defined Benefit [Member] | Supplemental Employee Retirement Plan, Defined Benefit [Member] | Supplemental Employee Retirement Plan, Defined Benefit [Member] | Other Pension Plans [Member] | Other Pension Plans [Member] | Funded Plans With Assets Less Than ABO [Member] | Funded Plans With Assets Less Than ABO [Member] | Unfunded Plans [Member] | Unfunded Plans [Member] | Principal Retiree Health and Life Insurance Plans [Member] | Principal Retiree Health and Life Insurance Plans [Member] | ||
Accumulated Benefit Obligation [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated Benefit Obligation | $50,967 | $55,664 | ' | ' | ' | ' | $3,946 | $4,114 | $12,629 | $12,687 | $60,715 | $66,069 | $5,243 | $5,390 | ' | $7,626 | $9,218 |
Plan Assets With Less Than ABO | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Plan assets | 48,297 | 44,738 | 42,137 | 11,059 | 9,702 | 8,381 | ' | ' | ' | ' | 57,430 | 53,276 | ' | ' | ' | ' | ' |
Accumulated Benefit Obligation | 50,967 | 55,664 | ' | ' | ' | ' | 3,946 | 4,114 | 12,629 | 12,687 | 60,715 | 66,069 | 5,243 | 5,390 | ' | 7,626 | 9,218 |
Projected benefit obligation | ' | ' | ' | ' | ' | ' | 5,162 | 5,494 | ' | ' | 63,532 | 69,234 | 6,512 | 6,828 | ' | ' | ' |
Defined Benefit Plan, Effect of One-Percentage Point Change in Assumed Health Care Cost Trend Rates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
APBO 1% Increase | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 788 | ' | ' |
APBO 1% Decrease | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 671 | ' | ' |
Service and interest cost 1% Increase | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 63 | ' | ' |
Service and interest cost 1% Decrease | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $52 | ' | ' |
Postretirement_Benefit_Plans_P
Postretirement Benefit Plans (Plan Assets) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Pension Benefit Plan [Member] | ' | ' |
Asset Allocation | ' | ' |
Parentage Of US Government Direct And Indirect Obligations Represented In Plan Assets | 16.00% | ' |
Pension Benefit Plan [Member] | Principal pension plans | ' | ' |
Fair Value of Plan Assets | ' | ' |
Fair value of plan assets, Balance at January 1, | $44,738 | $42,137 |
Actual gain (loss) on plan assets | 6,312 | 4,854 |
Employer contributions | 225 | 642 |
Participant contributions | -156 | -157 |
Benefits paid | -3,134 | -3,052 |
Acquisitions (dispositions)-net | 0 | 0 |
Exchange rate adjustments | 0 | 0 |
Fair value of plan assets, Balance at December 31, | 48,297 | 44,738 |
Asset Allocation | ' | ' |
Percentage Of Trust Assets That Were Investments In Restricted Securities Excluding Real Estate Investments That Are Not Freely Tradable | 17.00% | ' |
Percentage Of Securities That May Be Rated A-2/P-2 | 15.00% | ' |
Maximum Percentage Of Total Assets That Can Be Real Estate Investments | 25.00% | ' |
Maximum Percentage Of Total Assets That Can Be Investments In Restricted Securites Excluding Real Estate Investments That Are Not Freely Tradable | 30.00% | ' |
Percentage Of Fair Value Of Trust Assets At Time Of Purchase Of Aggregate Holdings Of All Qualifying Employer Securities And Qualifying Employer Real Property | 10.00% | ' |
Percentage Of Trust Assets Comprised Of Qualifying Employer Securities | 4.50% | 4.20% |
Maximum Percentage Of Sector Concentration Of Plan Assets | 15.00% | ' |
Pension Benefit Plan [Member] | Principal pension plans | Equity Securities [Member] | ' | ' |
Asset Allocation | ' | ' |
Debt securities (including cash equivalents), minimum | 17.00% | ' |
Debt securities (including cash equivalents), maximum | 57.00% | ' |
Actual allocation | 45.00% | ' |
Pension Benefit Plan [Member] | Principal pension plans | Debt Securities [Member] | ' | ' |
Asset Allocation | ' | ' |
Debt securities (including cash equivalents), minimum | 13.00% | ' |
Debt securities (including cash equivalents), maximum | 53.00% | ' |
Actual allocation | 31.00% | ' |
Pension Benefit Plan [Member] | Principal pension plans | Private Equities [Member] | ' | ' |
Asset Allocation | ' | ' |
Debt securities (including cash equivalents), minimum | 8.00% | ' |
Debt securities (including cash equivalents), maximum | 18.00% | ' |
Actual allocation | 13.00% | ' |
Pension Benefit Plan [Member] | Principal pension plans | Real Estate Asset [Member] | ' | ' |
Asset Allocation | ' | ' |
Debt securities (including cash equivalents), minimum | 2.00% | ' |
Debt securities (including cash equivalents), maximum | 12.00% | ' |
Actual allocation | 7.00% | ' |
Pension Benefit Plan [Member] | Principal pension plans | Other Securities [Member] | ' | ' |
Asset Allocation | ' | ' |
Debt securities (including cash equivalents), minimum | 3.00% | ' |
Debt securities (including cash equivalents), maximum | 13.00% | ' |
Actual allocation | 4.00% | ' |
Pension Benefit Plan [Member] | Principal pension plans | US Equity Securities [Member] | ' | ' |
Asset Allocation | ' | ' |
Actual allocation | 26.00% | ' |
Pension Benefit Plan [Member] | Principal pension plans | Non US Equity Securities [Member] | ' | ' |
Asset Allocation | ' | ' |
Actual allocation | 19.00% | ' |
Pension Benefit Plan [Member] | Other Pension Plan, Defined Benefit [Member] | ' | ' |
Fair Value of Plan Assets | ' | ' |
Fair value of plan assets, Balance at January 1, | 9,702 | 8,381 |
Actual gain (loss) on plan assets | 1,212 | 720 |
Employer contributions | 673 | 737 |
Participant contributions | -14 | -16 |
Benefits paid | -477 | -425 |
Acquisitions (dispositions)-net | -31 | 0 |
Exchange rate adjustments | -34 | 273 |
Fair value of plan assets, Balance at December 31, | 11,059 | 9,702 |
Asset Allocation | ' | ' |
Equity securities (weighted average) | 55.00% | ' |
Debt securities (including cash equivalents) (weighted average) | 32.00% | ' |
Private equities (weighted average) | 2.00% | ' |
Real estate (weighted average) | 6.00% | ' |
Other (weighted average) | 5.00% | ' |
Pension Benefit Plan [Member] | Other Pension Plan, Defined Benefit [Member] | Equity Securities [Member] | ' | ' |
Asset Allocation | ' | ' |
Actual allocation | 55.00% | ' |
Pension Benefit Plan [Member] | Other Pension Plan, Defined Benefit [Member] | Debt Securities [Member] | ' | ' |
Asset Allocation | ' | ' |
Actual allocation | 34.00% | ' |
Pension Benefit Plan [Member] | Other Pension Plan, Defined Benefit [Member] | Private Equities [Member] | ' | ' |
Asset Allocation | ' | ' |
Actual allocation | 1.00% | ' |
Pension Benefit Plan [Member] | Other Pension Plan, Defined Benefit [Member] | Real Estate Asset [Member] | ' | ' |
Asset Allocation | ' | ' |
Actual allocation | 5.00% | ' |
Pension Benefit Plan [Member] | Other Pension Plan, Defined Benefit [Member] | Other Securities [Member] | ' | ' |
Asset Allocation | ' | ' |
Actual allocation | 5.00% | ' |
Retiree Benefit Plan [Member] | ' | ' |
Asset Allocation | ' | ' |
Percentage Of Securities That May Be Rated A-2/P-2 | 15.00% | ' |
Maximum Percentage Of Total Assets That Can Be Real Estate Investments | 10.00% | ' |
Percentage Of Trust Assets Comprised Of Qualifying Employer Securities | 4.00% | 5.80% |
Retiree Benefit Plan [Member] | Equity Securities [Member] | ' | ' |
Asset Allocation | ' | ' |
Debt securities (including cash equivalents), minimum | 35.00% | ' |
Debt securities (including cash equivalents), maximum | 75.00% | ' |
Actual allocation | 39.00% | ' |
Retiree Benefit Plan [Member] | Debt Securities [Member] | ' | ' |
Asset Allocation | ' | ' |
Debt securities (including cash equivalents), minimum | 11.00% | ' |
Debt securities (including cash equivalents), maximum | 46.00% | ' |
Actual allocation | 38.00% | ' |
Retiree Benefit Plan [Member] | Private Equities [Member] | ' | ' |
Asset Allocation | ' | ' |
Debt securities (including cash equivalents), minimum | 0.00% | ' |
Debt securities (including cash equivalents), maximum | 25.00% | ' |
Actual allocation | 14.00% | ' |
Retiree Benefit Plan [Member] | Real Estate Asset [Member] | ' | ' |
Asset Allocation | ' | ' |
Debt securities (including cash equivalents), minimum | 0.00% | ' |
Debt securities (including cash equivalents), maximum | 12.00% | ' |
Actual allocation | 7.00% | ' |
Retiree Benefit Plan [Member] | Other Securities [Member] | ' | ' |
Asset Allocation | ' | ' |
Debt securities (including cash equivalents), minimum | 0.00% | ' |
Debt securities (including cash equivalents), maximum | 10.00% | ' |
Actual allocation | 2.00% | ' |
Retiree Benefit Plan [Member] | US Equity Securities [Member] | ' | ' |
Asset Allocation | ' | ' |
Debt securities (including cash equivalents), minimum | 18.00% | ' |
Debt securities (including cash equivalents), maximum | 38.00% | ' |
Actual allocation | 23.00% | ' |
Retiree Benefit Plan [Member] | Non US Equity Securities [Member] | ' | ' |
Asset Allocation | ' | ' |
Debt securities (including cash equivalents), minimum | 17.00% | ' |
Debt securities (including cash equivalents), maximum | 37.00% | ' |
Actual allocation | 16.00% | ' |
Retiree Benefit Plan [Member] | Fair Value Of Plan Assets [Member] | ' | ' |
Fair Value of Plan Assets | ' | ' |
Fair value of plan assets, Balance at January 1, | 946 | 1,004 |
Actual gain (loss) on plan assets | 118 | 98 |
Employer contributions | 533 | 548 |
Participant contributions | 52 | 54 |
Benefits paid | -746 | -758 |
Fair value of plan assets, Balance at December 31, | $903 | $946 |
Postretirement_Benefit_Plans_P1
Postretirement Benefit Plans (Pension Plan Investments) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Defined Benefit Plan Disclosure | ' | ' |
Investments | $43,981 | $48,510 |
Pension Benefit Plan [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Private Equities | 6,269 | 6,878 |
Real estate | 3,354 | 3,356 |
Other investments | 1,791 | 1,738 |
Investments | 48,469 | 45,379 |
Cash and other | -172 | -641 |
Total assets | 48,297 | 44,738 |
Pension Benefit Plan [Member] | Fixed Income And Cash Investment Funds [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Trading Securities, Debt | 2,078 | 1,981 |
Pension Benefit Plan [Member] | Domestic Corporate Debt Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Trading Securities, Debt | 4,555 | 2,758 |
Pension Benefit Plan [Member] | Residential Mortgage Backed Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Trading Securities, Debt | 1,093 | 1,423 |
Pension Benefit Plan [Member] | US Government Agencies Debt Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Trading Securities, Debt | 5,253 | 5,489 |
Pension Benefit Plan [Member] | Other Debt Obligations [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Trading Securities, Debt | 2,317 | 2,075 |
Pension Benefit Plan [Member] | US Equity Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Equity securities | 12,635 | 11,338 |
Pension Benefit Plan [Member] | Non US Equity Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Equity securities | 9,124 | 8,343 |
Pension Benefit Plan [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Private Equities | 0 | 0 |
Real estate | 0 | 0 |
Other investments | 0 | 0 |
Investments | 18,899 | 15,575 |
Pension Benefit Plan [Member] | Fair Value, Inputs, Level 1 [Member] | Fixed Income And Cash Investment Funds [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Trading Securities, Debt | 0 | 0 |
Pension Benefit Plan [Member] | Fair Value, Inputs, Level 1 [Member] | Domestic Corporate Debt Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Trading Securities, Debt | 0 | 0 |
Pension Benefit Plan [Member] | Fair Value, Inputs, Level 1 [Member] | Residential Mortgage Backed Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Trading Securities, Debt | 0 | 0 |
Pension Benefit Plan [Member] | Fair Value, Inputs, Level 1 [Member] | US Government Agencies Debt Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Trading Securities, Debt | 0 | 0 |
Pension Benefit Plan [Member] | Fair Value, Inputs, Level 1 [Member] | Other Debt Obligations [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Trading Securities, Debt | 0 | 0 |
Pension Benefit Plan [Member] | Fair Value, Inputs, Level 1 [Member] | US Equity Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Equity securities | 11,067 | 8,876 |
Pension Benefit Plan [Member] | Fair Value, Inputs, Level 1 [Member] | Non US Equity Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Equity securities | 7,832 | 6,699 |
Pension Benefit Plan [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Private Equities | 0 | 0 |
Real estate | 0 | 0 |
Other investments | 169 | 44 |
Investments | 18,325 | 17,801 |
Pension Benefit Plan [Member] | Fair Value, Inputs, Level 2 [Member] | Fixed Income And Cash Investment Funds [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Trading Securities, Debt | 2,078 | 1,931 |
Pension Benefit Plan [Member] | Fair Value, Inputs, Level 2 [Member] | Domestic Corporate Debt Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Trading Securities, Debt | 4,555 | 2,758 |
Pension Benefit Plan [Member] | Fair Value, Inputs, Level 2 [Member] | Residential Mortgage Backed Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Trading Securities, Debt | 1,093 | 1,420 |
Pension Benefit Plan [Member] | Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Trading Securities, Debt | 5,253 | 5,489 |
Pension Benefit Plan [Member] | Fair Value, Inputs, Level 2 [Member] | Other Debt Obligations [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Trading Securities, Debt | 2,317 | 2,053 |
Pension Benefit Plan [Member] | Fair Value, Inputs, Level 2 [Member] | US Equity Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Equity securities | 1,568 | 2,462 |
Pension Benefit Plan [Member] | Fair Value, Inputs, Level 2 [Member] | Non US Equity Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Equity securities | 1,292 | 1,644 |
Pension Benefit Plan [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Private Equities | 6,269 | 6,878 |
Real estate | 3,354 | 3,356 |
Other investments | 1,622 | 1,694 |
Investments | 11,245 | 12,003 |
Pension Benefit Plan [Member] | Fair Value, Inputs, Level 3 [Member] | Fixed Income And Cash Investment Funds [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Trading Securities, Debt | 0 | 50 |
Pension Benefit Plan [Member] | Fair Value, Inputs, Level 3 [Member] | Domestic Corporate Debt Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Trading Securities, Debt | 0 | 0 |
Pension Benefit Plan [Member] | Fair Value, Inputs, Level 3 [Member] | Residential Mortgage Backed Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Trading Securities, Debt | 0 | 3 |
Pension Benefit Plan [Member] | Fair Value, Inputs, Level 3 [Member] | US Government Agencies Debt Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Trading Securities, Debt | 0 | 0 |
Pension Benefit Plan [Member] | Fair Value, Inputs, Level 3 [Member] | Other Debt Obligations [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Trading Securities, Debt | 0 | 22 |
Pension Benefit Plan [Member] | Fair Value, Inputs, Level 3 [Member] | US Equity Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Equity securities | 0 | 0 |
Pension Benefit Plan [Member] | Fair Value, Inputs, Level 3 [Member] | Non US Equity Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure | ' | ' |
Equity securities | $0 | $0 |
Postretirement_Benefit_Plans_C
Postretirement Benefit Plans (Changes in Level 3 Investments) (Details) (Pension Benefit Plan [Member], Changes In Level 3 Investments [Member], USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plan, Transfers Between Measurement Levels | ' | ' |
Fair value of plan assets, Balance at January 1, | $12,003 | $11,985 |
Net realized gains (losses) | 540 | 180 |
Net unrealized gains (losses) | 1,118 | 798 |
Purchases, issuances, and settlements | -2,172 | -912 |
Transfers in and/or out of Level 1 | -244 | -48 |
Fair value of plan assets, Balance at December 31, | 11,245 | 12,003 |
Fixed Income And Cash Investment Funds [Member] | ' | ' |
Defined Benefit Plan, Transfers Between Measurement Levels | ' | ' |
Fair value of plan assets, Balance at January 1, | 50 | 62 |
Net realized gains (losses) | -7 | 0 |
Net unrealized gains (losses) | 0 | 9 |
Purchases, issuances, and settlements | -43 | -21 |
Transfers in and/or out of Level 1 | 0 | 0 |
Fair value of plan assets, Balance at December 31, | 0 | 50 |
Domestic Corporate Debt Securities [Member] | ' | ' |
Defined Benefit Plan, Transfers Between Measurement Levels | ' | ' |
Fair value of plan assets, Balance at January 1, | ' | 3 |
Net realized gains (losses) | ' | -1 |
Net unrealized gains (losses) | ' | 0 |
Purchases, issuances, and settlements | ' | -2 |
Transfers in and/or out of Level 1 | ' | 0 |
Residential Mortgage Backed Securities [Member] | ' | ' |
Defined Benefit Plan, Transfers Between Measurement Levels | ' | ' |
Fair value of plan assets, Balance at January 1, | 3 | 5 |
Net realized gains (losses) | 0 | -2 |
Net unrealized gains (losses) | 0 | 0 |
Purchases, issuances, and settlements | 0 | 0 |
Transfers in and/or out of Level 1 | -3 | 0 |
Fair value of plan assets, Balance at December 31, | 0 | 3 |
Other Debt Obligations [Member] | ' | ' |
Defined Benefit Plan, Transfers Between Measurement Levels | ' | ' |
Fair value of plan assets, Balance at January 1, | 22 | 146 |
Net realized gains (losses) | 0 | -2 |
Net unrealized gains (losses) | 0 | 0 |
Purchases, issuances, and settlements | -22 | -122 |
Transfers in and/or out of Level 1 | 0 | 0 |
Fair value of plan assets, Balance at December 31, | 0 | 22 |
Private Equities [Member] | ' | ' |
Defined Benefit Plan, Transfers Between Measurement Levels | ' | ' |
Fair value of plan assets, Balance at January 1, | 6,878 | 6,786 |
Net realized gains (losses) | 525 | 133 |
Net unrealized gains (losses) | 588 | 438 |
Purchases, issuances, and settlements | -1,675 | -479 |
Transfers in and/or out of Level 1 | -47 | 0 |
Fair value of plan assets, Balance at December 31, | 6,269 | 6,878 |
Real Estate [Member] | ' | ' |
Defined Benefit Plan, Transfers Between Measurement Levels | ' | ' |
Fair value of plan assets, Balance at January 1, | 3,356 | 3,274 |
Net realized gains (losses) | 23 | 20 |
Net unrealized gains (losses) | 330 | 279 |
Purchases, issuances, and settlements | -355 | -217 |
Transfers in and/or out of Level 1 | 0 | 0 |
Fair value of plan assets, Balance at December 31, | 3,354 | 3,356 |
Other Investments [Member] | ' | ' |
Defined Benefit Plan, Transfers Between Measurement Levels | ' | ' |
Fair value of plan assets, Balance at January 1, | 1,694 | 1,709 |
Net realized gains (losses) | -1 | 32 |
Net unrealized gains (losses) | 200 | 72 |
Purchases, issuances, and settlements | -77 | -71 |
Transfers in and/or out of Level 1 | -194 | -48 |
Fair value of plan assets, Balance at December 31, | $1,622 | $1,694 |
Postretirement_Benefit_Plans_P2
Postretirement Benefit Plans (Plan Assets Liability) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Pension Benefit Plan [Member] | ' | ' | ' |
Pension Asset (Liability) | ' | ' | ' |
Funded status | ' | $4,700 | $13,300 |
Pension Benefit Plan [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure | ' | ' | ' |
Defined Benefit Plan Fair Value Of Plan Assets Period Increase (Decrease) Insignificant Amount | ' | 'insignificant | 'insignificant |
Pension Benefit Plan [Member] | Principal pension plans | ' | ' | ' |
Pension Asset (Liability) | ' | ' | ' |
Funded status | ' | -9,816 | -18,764 |
Pension assets | ' | 0 | 0 |
Liabilities due within one year | ' | -170 | -159 |
Liabilities due after one year | ' | -9,646 | -18,605 |
Net amount recognized | ' | -9,816 | -18,764 |
Prior service cost | ' | 1,160 | 1,406 |
Actuarial loss (gain) | ' | 11,555 | 24,437 |
Total | ' | 12,715 | 25,843 |
Estimated Future Amortization Of Prior Service Cost | 215 | 246 | ' |
Estimated future amortization of net actuarial gain loss | 2,565 | 3,664 | ' |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity | ' | ' | ' |
2014 | ' | 3,105 | ' |
2015 | ' | 3,175 | ' |
2016 | ' | 3,240 | ' |
2017 | ' | 3,310 | ' |
2018 | ' | 3,380 | ' |
2019-2023 | ' | 18,370 | ' |
Pension Benefit Plan [Member] | Other Pension Plan, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure | ' | ' | ' |
Plan assets | ' | 11,059 | 9,702 |
Defined Benefit Plan Equity Investment Fund Value | ' | 9,781 | 8,497 |
Defined Benefit Plan Investment Asset Allocation | ' | 89.00% | 89.00% |
Pension Asset (Liability) | ' | ' | ' |
Funded status | ' | -2,476 | -3,882 |
Pension assets | ' | 325 | 141 |
Liabilities due within one year | ' | -67 | -62 |
Liabilities due after one year | ' | -2,734 | -3,961 |
Net amount recognized | ' | -2,476 | -3,882 |
Prior service cost | ' | 9 | -4 |
Actuarial loss (gain) | ' | 2,459 | 3,962 |
Total | ' | 2,468 | 3,958 |
Estimated Future Amortization Of Prior Service Cost | 5 | 7 | ' |
Estimated future amortization of net actuarial gain loss | 215 | 343 | ' |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity | ' | ' | ' |
2014 | ' | 495 | ' |
2015 | ' | 505 | ' |
2016 | ' | 510 | ' |
2017 | ' | 525 | ' |
2018 | ' | 540 | ' |
2019-2023 | ' | 2,935 | ' |
Pension Benefit Plan [Member] | Other Pension Plan, Defined Benefit [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure | ' | ' | ' |
Defined Benefit Plan Investment Asset Allocation | ' | 11.00% | 14.00% |
Pension Benefit Plan [Member] | Other Pension Plan, Defined Benefit [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure | ' | ' | ' |
Defined Benefit Plan Investment Asset Allocation | ' | 78.00% | 75.00% |
Pension Benefit Plan [Member] | Other Pension Plan, Defined Benefit [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure | ' | ' | ' |
Defined Benefit Plan Investment Asset Allocation | ' | 11.00% | 11.00% |
Retiree Benefit Plan [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure | ' | ' | ' |
Plan assets | ' | 903 | 946 |
Defined Benefit Plan Equity Investment Fund Value | ' | 727 | 741 |
Defined Benefit Plan Investment Asset Allocation | ' | 77.00% | 75.00% |
Pension Asset (Liability) | ' | ' | ' |
Funded status | ' | -9,010 | -10,858 |
Liabilities due within one year | ' | -531 | -589 |
Liabilities due after one year | ' | -7,095 | -8,629 |
Retiree life plans | ' | -1,384 | -1,640 |
Net amount recognized | ' | -9,010 | -10,858 |
Prior service cost | ' | 963 | 1,356 |
Actuarial loss (gain) | ' | -1,667 | 182 |
Total | ' | -704 | 1,538 |
Estimated Future Amortization Of Prior Service Cost | 395 | 393 | ' |
Estimated future amortization of net actuarial gain loss | 170 | 45 | ' |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity | ' | ' | ' |
2014 | ' | 725 | ' |
2015 | ' | 725 | ' |
2016 | ' | 725 | ' |
2017 | ' | 725 | ' |
2018 | ' | 725 | ' |
2019-2023 | ' | $3,500 | ' |
Retiree Benefit Plan [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure | ' | ' | ' |
Defined Benefit Plan Investment Asset Allocation | ' | 33.00% | 28.00% |
Retiree Benefit Plan [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure | ' | ' | ' |
Defined Benefit Plan Investment Asset Allocation | ' | 43.00% | 47.00% |
Retiree Benefit Plan [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure | ' | ' | ' |
Defined Benefit Plan Investment Asset Allocation | ' | 24.00% | 25.00% |
Defined Benefit Plan Fair Value Of Plan Assets Period Increase (Decrease) Insignificant Amount | ' | 'insignificant | 'insignificant |
Postretirement_Benefit_Plans_C1
Postretirement Benefit Plans (Cost of Postretirement Benefit Plans and Changes in Other Comprehensive Income) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Defined Benefit Plan, Benefit Obligation [Line Items] | ' |
Pension And Postretirement Cost Of Benefit Plans | $5,977 |
Changes in other comprehensive income | ' |
Net actuarial loss (gain) - current year | -12,263 |
Prior service cost (credit) - current year | 11 |
Prior service cost amortization | -646 |
Net actuarial (gain) loss amortization | -3,962 |
Total changes in other comprehensive income | -16,860 |
Cost of postretirement benefit plans and changes in other comprehensive income | -10,883 |
Principal pension plans | ' |
Defined Benefit Plan, Benefit Obligation [Line Items] | ' |
Pension And Postretirement Cost Of Benefit Plans | 4,405 |
Changes in other comprehensive income | ' |
Net actuarial loss (gain) - current year | -9,218 |
Prior service cost (credit) - current year | 0 |
Prior service cost amortization | -246 |
Net actuarial (gain) loss amortization | -3,664 |
Total changes in other comprehensive income | -13,128 |
Cost of postretirement benefit plans and changes in other comprehensive income | -8,723 |
Other Pension Plan, Defined Benefit [Member] | ' |
Defined Benefit Plan, Benefit Obligation [Line Items] | ' |
Pension And Postretirement Cost Of Benefit Plans | 645 |
Changes in other comprehensive income | ' |
Net actuarial loss (gain) - current year | -1,151 |
Prior service cost (credit) - current year | 11 |
Prior service cost amortization | -7 |
Net actuarial (gain) loss amortization | -343 |
Total changes in other comprehensive income | -1,490 |
Cost of postretirement benefit plans and changes in other comprehensive income | -845 |
Principal Retiree Health and Life Insurance Plans [Member] | ' |
Defined Benefit Plan, Benefit Obligation [Line Items] | ' |
Pension And Postretirement Cost Of Benefit Plans | 927 |
Changes in other comprehensive income | ' |
Net actuarial loss (gain) - current year | -1,894 |
Prior service cost (credit) - current year | 0 |
Prior service cost amortization | -393 |
Net actuarial (gain) loss amortization | 45 |
Total changes in other comprehensive income | -2,242 |
Cost of postretirement benefit plans and changes in other comprehensive income | ($1,315) |
All_Other_Liabilities_Details
All Other Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Other Liabilities [Abstract] | ' | ' |
Accruals For Noncurrent Compensation And Benefits | $27,853 | $40,318 |
Accrual for Environmental Loss Contingencies | $2,612 | ' |
Income_Taxes_Provision_For_Tax
Income Taxes (Provision For Taxes) (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Provision for Income Taxes | ' | ' | ' | |||
Current tax expense (benefit) | $3,971 | $3,686 | $5,949 | |||
Deferred Income Tax Expense (Benefit) | -3,295 | -1,152 | -204 | |||
Income Tax Expense (Benefit) | 676 | 2,534 | 5,745 | |||
U.S. earnings (loss) from continuing operations before income taxes | 6,099 | 8,309 | 10,206 | |||
Non-U.S. earnings (loss) from continuing operations before income taxes | 10,052 | 9,072 | 9,953 | |||
U.S. federal income tax expense (benefit) | 85 | 685 | 1,079 | |||
Non-U.S. jurisdiction income tax expense (benefit) | 3,659 | 2,871 | 4,624 | |||
Deferred U.S. federal income tax expense (benefit) | -2,315 | -414 | 1,529 | |||
Deferred non-U.S. federal income tax expense (benefit) | -1,038 | -773 | -2,077 | |||
Cumulative earning of non-U.S affiliates reinvested indefinitely | 110 | 108 | ' | |||
Number of income tax returns file annually | 5,800 | ' | ' | |||
Number Of Global Taxing Jurisdictions | 250 | ' | ' | |||
Percentage of reduction in effective tax rate | 2.80% | ' | 2.40% | |||
Subsidiaries [Member] | ' | ' | ' | |||
Provision for Income Taxes | ' | ' | ' | |||
Current tax expense (benefit) | 4,239 | 2,307 | 5,166 | |||
Deferred Income Tax Expense (Benefit) | -2,571 | [1] | -294 | [1] | -327 | [1] |
Income Tax Expense (Benefit) | 1,668 | [1] | 2,013 | [1] | 4,839 | [1] |
Subsidiaries GECC [Member] | ' | ' | ' | |||
Provision for Income Taxes | ' | ' | ' | |||
Current tax expense (benefit) | -268 | 1,379 | 783 | |||
Deferred Income Tax Expense (Benefit) | -724 | -858 | 123 | |||
Income Tax Expense (Benefit) | ($992) | $521 | $906 | |||
[1] | (a)Â Â Â Â Â Â Â Â 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. |
Income_Taxes_Unrecognized_Tax_
Income Taxes (Unrecognized Tax Benefits) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Unrecognized Tax Benefits | ' | ' | ' |
Unrecognized tax benefits | $5,816 | $5,445 | $5,230 |
Portion that, if recognized, would reduce tax expense and effective tax rate | 4,307 | 4,032 | ' |
Accrued interest on unrecognized tax benefits | 975 | 961 | ' |
Accrued penalties on unrecognized tax benefits | 164 | 173 | ' |
Reasonably possible reduction to the balance of unrecognized tax benefits in succeeding 12 months lower limit | 0 | 0 | ' |
Reasonably possible reduction to the balance of unrecognized tax benefits in succeeding 12 months upper limit | 900 | 800 | ' |
Lower Limit [Member] | ' | ' | ' |
Unrecognized Tax Benefits | ' | ' | ' |
Portion that, if recognized, would reduce tax expense and effective tax rate | 0 | 0 | ' |
Upper Limit [Member] | ' | ' | ' |
Unrecognized Tax Benefits | ' | ' | ' |
Portion that, if recognized, would reduce tax expense and effective tax rate | $350 | $700 | ' |
Income_Taxes_Tax_Reconciliatio
Income Taxes (Tax Reconciliations) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Reconciliation of the beginning and ending amounts of unrecognized tax benefits | ' | ' | ' |
Balance at January 1, | $5,445 | $5,230 | ' |
Additions for tax positions of current year | 771 | 293 | ' |
Additions for tax positions of prior years | 872 | 882 | ' |
Reductions for tax positions of prior years | -1,140 | -723 | ' |
Settlements with tax authorities | -98 | -191 | ' |
Expiration on the statute of limitations | -34 | -46 | ' |
Balance at December 31, | 5,816 | 5,445 | 5,230 |
Interest on tax deficiencies | 22 | -45 | -197 |
Income tax penalties | $0 | $33 | $10 |
Reconciliation of U.S. Federal Statutory Income Tax Rate to Actual Income Tax Rate | ' | ' | ' |
U.S. federal statutory income tax rate | 35.00% | 35.00% | 35.00% |
Inclusion of after-tax earnings of GECC in before-tax earnings of GE | 0.00% | 0.00% | 0.00% |
Tax on global activities including exports | -24.70% | -12.50% | -10.40% |
NBCU gain | -0.70% | 0.00% | 9.30% |
U.S. business credits | -3.60% | -2.60% | -3.20% |
All other - net | -1.80% | -3.40% | -2.20% |
Total income tax reconciliation items | -30.80% | -20.40% | -6.50% |
Actual income tax rate | 4.20% | 14.60% | 28.50% |
Effective Income Tax Rate Reconciliation, Disposition of Business | 0.00% | -1.90% | 0.00% |
Cembra [Member] | ' | ' | ' |
Reconciliation of U.S. Federal Statutory Income Tax Rate to Actual Income Tax Rate | ' | ' | ' |
Tax on global activities including exports | 6.00% | ' | ' |
Subsidiaries [Member] | ' | ' | ' |
Reconciliation of U.S. Federal Statutory Income Tax Rate to Actual Income Tax Rate | ' | ' | ' |
U.S. federal statutory income tax rate | 35.00% | 35.00% | 35.00% |
Inclusion of after-tax earnings of GECC in before-tax earnings of GE | -16.90% | -15.30% | -11.90% |
Tax on global activities including exports | -4.10% | -4.30% | -5.20% |
NBCU gain | -0.70% | 0.00% | 9.80% |
U.S. business credits | -1.50% | -0.70% | -1.50% |
All other - net | -2.00% | -2.70% | -0.90% |
Total income tax reconciliation items | -25.20% | -23.00% | -9.70% |
Actual income tax rate | 9.80% | 12.00% | 25.30% |
Effective Income Tax Rate Reconciliation, Disposition of Business | 0.00% | 0.00% | 0.00% |
Subsidiaries GECC [Member] | ' | ' | ' |
Reconciliation of U.S. Federal Statutory Income Tax Rate to Actual Income Tax Rate | ' | ' | ' |
U.S. federal statutory income tax rate | 35.00% | 35.00% | 35.00% |
Inclusion of after-tax earnings of GECC in before-tax earnings of GE | 0.00% | 0.00% | 0.00% |
Tax on global activities including exports | -45.00% | -18.40% | -14.70% |
NBCU gain | 0.00% | 0.00% | 0.00% |
U.S. business credits | -4.60% | -4.30% | -4.70% |
All other - net | 1.00% | -1.50% | -3.50% |
Total income tax reconciliation items | -48.60% | -28.40% | -22.90% |
Actual income tax rate | -13.60% | 6.60% | 12.10% |
Effective Income Tax Rate Reconciliation, Disposition of Business | 0.00% | -4.20% | 0.00% |
Subsidiaries GECC [Member] | Cembra [Member] | ' | ' | ' |
Reconciliation of U.S. Federal Statutory Income Tax Rate to Actual Income Tax Rate | ' | ' | ' |
Tax on global activities including exports | 13.30% | ' | ' |
Income_Taxes_Deferred_Income_T
Income Taxes (Deferred Income Taxes) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Aggregate deferred income tax amounts | ' | ' |
Deferred tax assets | $28,508 | $31,621 |
Deferred tax liabilities | -28,233 | -31,675 |
Net deferred income tax liability | 275 | -54 |
Components of Deferred Tax Assets and Liabilities | ' | ' |
Non-U.S. loss carryforwards | 4,665 | ' |
Net deferred income tax liability | 275 | -54 |
Expires With In Three Years [Member] | ' | ' |
Components of Deferred Tax Assets and Liabilities | ' | ' |
Non-U.S. loss carryforwards | 30 | ' |
Expires After Three Year And Before Fifteen Years [Member] | ' | ' |
Components of Deferred Tax Assets and Liabilities | ' | ' |
Non-U.S. loss carryforwards | 478 | ' |
May Be Carried Indefinitely [Member] | ' | ' |
Components of Deferred Tax Assets and Liabilities | ' | ' |
Non-U.S. loss carryforwards | 4,157 | ' |
Subsidiaries [Member] | ' | ' |
Aggregate deferred income tax amounts | ' | ' |
Deferred tax assets | 15,284 | 19,745 |
Deferred tax liabilities | -10,223 | -13,799 |
Net deferred income tax liability | 5,061 | 5,946 |
Components of Deferred Tax Assets and Liabilities | ' | ' |
Investment in NBCU LLC | 0 | -4,937 |
Intangible assets | -2,268 | -2,269 |
Contract costs and estimated earnings | -3,550 | -3,087 |
Depreciation | -1,079 | -698 |
Investment in global subsidiaries | -1,077 | -921 |
Provision for expenses | 5,934 | 6,503 |
Principal pension plans | 3,436 | 6,567 |
Retiree insurance plans | 3,154 | 3,800 |
Non-U.S. loss carryforwards | 874 | 942 |
Other - net | -363 | 46 |
Net deferred income tax liability | 5,061 | 5,946 |
Valuation allowance | 2,089 | 1,712 |
Subsidiaries GECC [Member] | ' | ' |
Aggregate deferred income tax amounts | ' | ' |
Deferred tax assets | 13,224 | 11,876 |
Deferred tax liabilities | -18,010 | -17,876 |
Net deferred income tax liability | -4,786 | -6,000 |
Components of Deferred Tax Assets and Liabilities | ' | ' |
Intangible assets | -1,943 | -1,666 |
Investment in global subsidiaries | 1,883 | 1,689 |
Non-U.S. loss carryforwards | 3,791 | 3,049 |
Other - net | -490 | 29 |
Financing leases | -4,075 | -4,506 |
Operating leases | -6,284 | -6,141 |
Allowance for losses | 2,640 | 1,975 |
Cash flow hedges | -163 | -115 |
Net unrealized gains (losses) on securities | -145 | -314 |
Net deferred income tax liability | -4,786 | -6,000 |
Valuation allowance | $862 | $628 |
Shareowners_Equity_Details
Shareowners' Equity (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||||
Stockholders Equity Note [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Preferred Stock, Value, Issued | $0 | ' | ' | ' | $0 | ' | ' | ' | $0 | $0 | $0 | ' | ||||
Common Stock, Value, Issued | 702 | ' | ' | ' | 702 | ' | ' | ' | 702 | 702 | 702 | ' | ||||
Accumulated other comprehensive income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Beginning balance | ' | ' | ' | -20,230 | ' | ' | ' | -23,974 | -20,230 | -23,974 | -17,855 | ' | ||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | ' | ' | ' | ' | ' | ' | ' | ' | 8,844 | 841 | -9,601 | ' | ||||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | ' | ' | ' | ' | ' | ' | ' | ' | 2,266 | 2,903 | 3,482 | ' | ||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | ' | ' | ' | ' | ' | ' | ' | ' | 11,110 | 3,744 | -6,119 | ' | ||||
Ending balance December 31, | -9,120 | ' | ' | ' | -20,230 | ' | ' | ' | -9,120 | -20,230 | -23,974 | ' | ||||
Other capital | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Additional Paid in Capital, Beginning Balance | ' | ' | ' | 33,070 | ' | ' | ' | 33,693 | 33,070 | 33,693 | 36,890 | ' | ||||
Gains (losses) on treasury stock dispositions and other | ' | ' | ' | ' | ' | ' | ' | ' | 576 | 623 | 703 | ' | ||||
Preferred stock redemption | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | -2,494 | ' | ||||
Additional Paid in Capital, Ending Balance | 32,494 | ' | ' | ' | 33,070 | ' | ' | ' | 32,494 | 33,070 | 33,693 | ' | ||||
Retained earnings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Retained Earnings (Accumulated Deficit), Beginning Balance | ' | ' | ' | 144,055 | ' | ' | ' | 137,786 | 144,055 | 137,786 | 131,137 | ' | ||||
Net earnings (loss) attributable to the Company | 3,206 | 3,191 | 3,133 | 3,527 | 4,011 | 3,491 | 3,105 | 3,034 | 13,057 | 13,641 | 14,151 | ' | ||||
Dividends | ' | ' | ' | ' | ' | ' | ' | ' | -8,060 | -7,372 | -7,498 | ' | ||||
Other | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 0 | 4 | ' | ||||
Retained Earnings (Accumulated Deficit), Ending Balance | 149,051 | ' | ' | ' | 144,055 | ' | ' | ' | 149,051 | 144,055 | 137,786 | ' | ||||
Common Stock Held In Treasury [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Treasury Stock, Value, Beginning Balance | ' | ' | ' | -34,571 | ' | ' | ' | -31,769 | -34,571 | -31,769 | -31,938 | ' | ||||
Purchases | ' | ' | ' | ' | ' | ' | ' | ' | -10,466 | -5,295 | -2,067 | ' | ||||
Dispositions | ' | ' | ' | ' | ' | ' | ' | ' | -2,476 | -2,493 | -2,236 | ' | ||||
Treasury Stock, Value, Ending Balance | -42,561 | ' | ' | ' | -34,571 | ' | ' | ' | -42,561 | -34,571 | -31,769 | ' | ||||
Total equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
GE shareowners' equity balance at January 1 | 130,566 | ' | ' | ' | 123,026 | ' | ' | ' | 130,566 | 123,026 | 116,438 | 118,936 | ||||
Noncontrolling interests | 6,217 | [1] | ' | ' | ' | 5,444 | [1] | ' | ' | ' | 6,217 | [1] | 5,444 | [1] | 1,696 | 5,262 |
Total equity balance at December 31 | 136,783 | ' | ' | ' | 128,470 | ' | ' | ' | 136,783 | 128,470 | 118,134 | ' | ||||
Dividends, Preferred Stock, Stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,031 | ' | ||||
Preferred Stock Redemption [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Total equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Dividends, Preferred Stock, Stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $806 | ' | ||||
[1] | (c)Â Â Â Â Â Â Â Â Included accumulated other comprehensive income attributable to noncontrolling interests of $(180) million and $(155) million at December 31, 2013 and 2012, respectively. |
Shareowners_Equity_Shares_Deta
Shareowners' Equity (Shares) (Details) (USD $) | 0 Months Ended | 12 Months Ended | |||||
Sep. 13, 2011 | Oct. 16, 2008 | Dec. 31, 2013 | Dec. 31, 2012 | Oct. 17, 2013 | Jun. 30, 2013 | Dec. 31, 2011 | |
Shares of GE Preferred Stock | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, Shares Issued | ' | 30,000 | ' | 40,000 | ' | 10,000 | ' |
Cumulative percentage of dividends on preferred stock | ' | 10.00% | ' | ' | ' | ' | ' |
Preferred stock, par value | ' | $1 | ' | ' | ' | $0.01 | ' |
Number Of Trading Days Preceding Date Of Cashless Exercise Average Market Price | ' | ' | 20 | ' | ' | ' | ' |
Aggregate liquidation value of preferred stocks | ' | $3,000,000,000 | ' | ' | ' | ' | ' |
Number of common stock shares warrants can purchase | ' | 134,831,460 | ' | ' | ' | ' | ' |
Par value of common stock that warrants can purchase | ' | $0.06 | ' | ' | ' | ' | ' |
Aggregate proceeds of cash from the issuance of the cumulative perpetual preferred stock and warrants | ' | 2,965,000,000 | ' | ' | ' | ' | ' |
Preferred stock redemption | ' | 2,494,000,000 | ' | ' | ' | ' | ' |
Value allocated to warrants | ' | 471,000,000 | ' | ' | ' | ' | ' |
Exercise price of stock warrants | ' | $22.25 | ' | ' | ' | ' | ' |
Preferred Stock Redemption Price | 3,300,000,000 | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | ' | ' | ' | ' | 10,700,000 | ' | ' |
Percentage Of Liquidation Value Plus Accrued And Unpaid Dividends At Which Cumulative Perpetual Preferred Stock Is Redeemable | ' | 110.00% | ' | ' | ' | ' | ' |
Preferred stock authorized | ' | ' | 50,000,000 | ' | ' | ' | ' |
Preferred Stock, Shares Outstanding | ' | ' | 50,000 | 40,000 | ' | ' | ' |
Shares Of Common Stock | ' | ' | ' | ' | ' | ' | ' |
Increase In Stock Repurchase Program Number Of Shares Authorized To Be Repurchased | ' | ' | 10,000,000,000 | 10,000,000,000 | ' | ' | ' |
Stock repurchased during period | ' | ' | 432,600,000 | 248,600,000 | ' | ' | ' |
Value of stock repurchased during period | ' | ' | 10,375,000,000 | 5,185,000,000 | ' | ' | ' |
Common stock, shares authorized | ' | ' | 13,200,000,000 | ' | ' | ' | ' |
Common stock, par value per share | ' | ' | $0.06 | ' | ' | ' | ' |
Issued | ' | ' | 11,693,841,000 | 11,693,841,000 | ' | ' | 11,693,841,000 |
In treasury | ' | ' | -1,632,960,000 | -1,288,216,000 | ' | ' | -1,120,824,000 |
Outstanding | ' | ' | 10,060,881,000 | 10,405,625,000 | ' | ' | 10,573,017,000 |
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | ' | ' | $35,000,000,000 | $25,000,000,000 | ' | ' | ' |
First Preferred Shares Issuance [Member] | ' | ' | ' | ' | ' | ' | ' |
Shares of GE Preferred Stock | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, Shares Issued | ' | ' | ' | 22,500 | ' | ' | ' |
Preferred stock, par value | ' | ' | ' | $0.01 | ' | ' | ' |
Second Preferred Shares Issuance [Member] | ' | ' | ' | ' | ' | ' | ' |
Shares of GE Preferred Stock | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, Shares Issued | ' | ' | ' | 17,500 | ' | ' | ' |
Shareowners_Equity_Changes_In_
Shareowners' Equity (Changes In Accumulated Other Comprehensive Income) (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||
Stockholders Equity Note [Line Items] | ' | ' | ' | ' | ||
Investment Securities Beginning Balance | $677 | [1] | ' | ' | ' | |
Investment Securities Balance at December 31 | 307 | [1] | 677 | [1] | ' | ' |
Currency Translation Adjustment Beginning Balance | 412 | [1] | ' | ' | ' | |
Currency Translation Adjustment Balance December 31 | 126 | [1] | 412 | [1] | ' | ' |
Cash Flow Hedges Beginning Balance | -722 | [1] | ' | ' | ' | |
Cash Flow Hedges Balance December 31 | -257 | [1] | -722 | [1] | ' | ' |
Benefit Plans Beginning Balance | -20,597 | [1] | ' | ' | ' | |
Benefit Plans Balance December 31 | -9,296 | [1] | -20,597 | [1] | ' | ' |
Other comprehensive income (OCI) before reclassifications - net of deferred taxes | 8,844 | 841 | -9,601 | ' | ||
Other comprehensive income, net of tax | 11,085 | 3,757 | -6,134 | ' | ||
Less: Other comprehensive income (loss) attributable to noncontrolling interests | -25 | 13 | -15 | ' | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax | -9,120 | -20,230 | -23,974 | -17,855 | ||
Stockholders Equity Note Parenthetical | ' | ' | ' | ' | ||
Reclassification from OCI | 2,266 | 2,903 | 3,482 | ' | ||
Adjustment To Reclass Unrealized Gains To Offset Deferred Acquisition Costs And Present Value Of Future Profits | -1,171 | 527 | 786 | ' | ||
Securities Investment [Member] | ' | ' | ' | ' | ||
Stockholders Equity Note [Line Items] | ' | ' | ' | ' | ||
Investment Securities Beginning Balance | ' | -30 | -636 | ' | ||
Investment Securities Balance at December 31 | ' | ' | -30 | ' | ||
Other comprehensive income (OCI) before reclassifications - net of deferred taxes | -692 | 683 | 577 | ' | ||
Reclassification from OCI net of deferred taxes | 318 | 22 | 31 | ' | ||
Other comprehensive income, net of tax | -374 | 705 | 608 | ' | ||
Less: Other comprehensive income (loss) attributable to noncontrolling interests | -4 | -2 | 2 | ' | ||
Stockholders Equity Note Parenthetical | ' | ' | ' | ' | ||
OCI before reclassification tax | -407 | 387 | 341 | ' | ||
Reclassification from OCI | 222 | 13 | 1 | ' | ||
Currency Translation Adjustment [Member] | ' | ' | ' | ' | ||
Stockholders Equity Note [Line Items] | ' | ' | ' | ' | ||
Currency Translation Adjustment Beginning Balance | ' | 133 | -86 | ' | ||
Currency Translation Adjustment Balance December 31 | ' | ' | 133 | ' | ||
Other comprehensive income (OCI) before reclassifications - net of deferred taxes | 510 | 474 | -201 | ' | ||
Reclassification from OCI net of deferred taxes | -818 | -174 | 381 | ' | ||
Other comprehensive income, net of tax | -308 | 300 | 180 | ' | ||
Less: Other comprehensive income (loss) attributable to noncontrolling interests | -22 | 21 | -39 | ' | ||
Stockholders Equity Note Parenthetical | ' | ' | ' | ' | ||
OCI before reclassification tax | -613 | -266 | -717 | ' | ||
Reclassification from OCI | 793 | 54 | 357 | ' | ||
Cash Flow Hedge [Member] | ' | ' | ' | ' | ||
Stockholders Equity Note [Line Items] | ' | ' | ' | ' | ||
Cash Flow Hedges Beginning Balance | ' | -1,176 | -1,280 | ' | ||
Cash Flow Hedges Balance December 31 | ' | ' | -1,176 | ' | ||
Other comprehensive income (OCI) before reclassifications - net of deferred taxes | 738 | 385 | -860 | ' | ||
Reclassification from OCI net of deferred taxes | -271 | 68 | 978 | ' | ||
Other comprehensive income, net of tax | 467 | 453 | 118 | ' | ||
Less: Other comprehensive income (loss) attributable to noncontrolling interests | 2 | -1 | 14 | ' | ||
Stockholders Equity Note Parenthetical | ' | ' | ' | ' | ||
OCI before reclassification tax | 250 | 392 | 238 | ' | ||
Reclassification from OCI | -177 | -245 | 202 | ' | ||
Pension Plan, Defined Benefit [Member] | ' | ' | ' | ' | ||
Stockholders Equity Note [Line Items] | ' | ' | ' | ' | ||
Benefit Plans Beginning Balance | ' | 22,901 | 15,853 | ' | ||
Benefit Plans Balance December 31 | ' | ' | 22,901 | ' | ||
Other comprehensive income, net of tax | 11,300 | 2,299 | -7,040 | ' | ||
Less: Other comprehensive income (loss) attributable to noncontrolling interests | -1 | -5 | 8 | ' | ||
Stockholders Equity Note Parenthetical | ' | ' | ' | ' | ||
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Net Prior Service Cost (Credit) Arising During Period, Net of Tax | 6 | -534 | 495 | ' | ||
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Net Prior Service Cost (Credit), Tax | -5 | 304 | -276 | ' | ||
Other Comprehensive Income (Loss), Amortization Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Prior Service (Cost) Credit, Net of Tax | 397 | 497 | 514 | ' | ||
Other Comprehensive Income (Loss), Amortization Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Prior Service (Cost) Credit, Tax | 267 | 326 | 341 | ' | ||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Net of Tax | 8,269 | -1,396 | -8,637 | ' | ||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Tax | 4,506 | -574 | -4,746 | ' | ||
Other Comprehensive Income Net Amortization Of Net Actuarial Gain Loss | 2,640 | 2,490 | 1,578 | ' | ||
Other Comprehensive Income Net Amortization Of Net Actuarial Gain Loss Tax | 1,343 | 1,278 | 811 | ' | ||
Other Comprehensive Income (Loss), Finalization of Pension and Other Postretirement Benefit Plan Valuation, Net of Tax | 0 | 174 | 0 | ' | ||
Other Comprehensive Income (Loss), Finalization of Pension and Other Postretirement Benefit Plan Valuation, Tax | $0 | $123 | $0 | ' | ||
[1] | (b)Â Â Â Â Â Â Â Â The sum of accumulated other comprehensive income attributable to GE was $(9,120) million and $(20,230) million at December 31, 2013 and 2012, respectively. |
Shareowners_Equity_Noncontroll
Shareowners' Equity (Noncontrolling Interests) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||
In Millions, except Share data, unless otherwise specified | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Oct. 16, 2008 | ||
Changes To Noncontrolling Interest | ' | ' | ' | ' | ' | ||
Beginning balance | ' | $5,444 | [1] | $1,696 | $5,262 | ' | |
Net earnings | ' | 298 | 223 | 292 | ' | ||
GECC issuance of preferred stock | ' | 990 | 3,960 | 0 | ' | ||
GECC preferred stock dividend | ' | 298 | 123 | 0 | ' | ||
Dividends | ' | -80 | -42 | -34 | ' | ||
Dispositions | ' | -175 | 0 | -609 | ' | ||
AOCI and other | ' | -38 | 270 | 145 | ' | ||
Ending balance | ' | 6,217 | [1] | 5,444 | [1] | 1,696 | ' |
Percentage of Entities Outstanding Shares Purchased from Minority Owner | ' | ' | ' | 12.30% | ' | ||
Acquisition Payment For Remainder Of Non Controlling Ownership Interest | ' | ' | ' | 3,673 | ' | ||
Additional Acquisition Payment To Non Controlling Owner Related To Previously Purchased Shares | ' | ' | ' | 222 | ' | ||
NBCU share repurchase | ' | 0 | 0 | -3,070 | ' | ||
Amount Paid In Excess Of Carrying Value Recorded As Basis Increase | ' | 825 | ' | ' | ' | ||
Preferred Stock, Shares Issued | 10,000 | ' | 40,000 | ' | 30,000 | ||
Preferred Stock, Par or Stated Value Per Share | $0.01 | ' | ' | ' | $1 | ||
Proceeds From Issuance Of Preferred Stock | 990 | 990 | 3,960 | 0 | ' | ||
Initial Fixed Interest Rate Of Preferred Stock | 5.25% | ' | ' | ' | ' | ||
Percentage Points Over Three Month LIBOR | 2.97% | ' | ' | ' | ' | ||
Dividend Amount Paid By Finance Subsidiary To Parent | ' | 1,930 | 1,926 | 0 | ' | ||
Special Dividend Paid By Finance Subsidiary To Parent | ' | 4,055 | 4,500 | 0 | ' | ||
Other Consolidated Affiliate [Member] | ' | ' | ' | ' | ' | ||
Changes To Noncontrolling Interest | ' | ' | ' | ' | ' | ||
Ending balance | ' | 1,267 | 1,484 | ' | ' | ||
Seaco [Member] | ' | ' | ' | ' | ' | ||
Changes To Noncontrolling Interest | ' | ' | ' | ' | ' | ||
Dispositions | ' | ' | ' | -311 | ' | ||
Heller Financial [Member] | ' | ' | ' | ' | ' | ||
Changes To Noncontrolling Interest | ' | ' | ' | ' | ' | ||
Dispositions | ' | ' | ' | -275 | ' | ||
First Preferred Shares Issuance [Member] | ' | ' | ' | ' | ' | ||
Changes To Noncontrolling Interest | ' | ' | ' | ' | ' | ||
Preferred Stock, Shares Issued | ' | ' | 22,500 | ' | ' | ||
Preferred Stock, Par or Stated Value Per Share | ' | ' | $0.01 | ' | ' | ||
Initial Fixed Interest Rate Of Preferred Stock | ' | ' | 7.13% | ' | ' | ||
Percentage Points Over Three Month LIBOR | ' | ' | 5.30% | ' | ' | ||
Second Preferred Shares Issuance [Member] | ' | ' | ' | ' | ' | ||
Changes To Noncontrolling Interest | ' | ' | ' | ' | ' | ||
Preferred Stock, Shares Issued | ' | ' | 17,500 | ' | ' | ||
Initial Fixed Interest Rate Of Preferred Stock | ' | ' | 6.25% | ' | ' | ||
Percentage Points Over Three Month LIBOR | ' | ' | 4.70% | ' | ' | ||
Subsidiaries GECC [Member] | ' | ' | ' | ' | ' | ||
Noncontrolling Interest [Line Items] | ' | ' | ' | ' | ' | ||
Preferred Stock | ' | 4,950 | 3,960 | ' | ' | ||
Changes To Noncontrolling Interest | ' | ' | ' | ' | ' | ||
Beginning balance | ' | 707 | ' | ' | ' | ||
Ending balance | ' | 432 | 707 | ' | ' | ||
Proceeds From Issuance Of Preferred Stock | ' | $990 | $3,960 | $0 | ' | ||
[1] | (c)Â Â Â Â Â Â Â Â Included accumulated other comprehensive income attributable to noncontrolling interests of $(180) million and $(155) million at December 31, 2013 and 2012, respectively. |
Shareowners_Equity_Reclass_Out
Shareowners' Equity (Reclass Out of Accumulated Other Comprehensive Income) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | $676 | $2,534 | $5,745 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 3,364 | 3,181 | 3,299 | 3,511 | 4,146 | 3,508 | 3,138 | 3,072 | 13,355 | 13,864 | 14,443 |
Costs and Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 129,894 | 129,303 | 126,383 |
Financial Services Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 42,395 | 43,972 | 46,957 |
Interest and other financial charges | ' | ' | ' | ' | ' | ' | ' | ' | 10,116 | 12,407 | 14,422 |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | 16,151 | 17,381 | 20,159 |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | ' | ' | ' | ' | ' | ' | ' | ' | -646 | ' | ' |
Defined Benefit Plan, Amortization of Gains (Losses) | ' | ' | ' | ' | ' | ' | ' | ' | 3,962 | ' | ' |
Foreign Exchange Contract [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest and other financial charges | ' | ' | ' | ' | ' | ' | ' | ' | -44 | -102 | -200 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | -2,266 | -2,903 | -3,482 |
Subsidiaries GECC [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | -992 | 521 | 906 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | 6,257 | 6,278 | 6,637 |
Costs and Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 36,748 | 37,435 | 40,811 |
Financial Services Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 43,941 | 45,245 | 48,176 |
Interest and other financial charges | ' | ' | ' | ' | ' | ' | ' | ' | 9,267 | 11,596 | 13,760 |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | 7,319 | 7,929 | 7,513 |
Subsidiaries GECC [Member] | Foreign Exchange Contract [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financial Services Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 608 | 894 | -310 |
Securities Investment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Income | ' | ' | ' | ' | ' | ' | ' | ' | -540 | -35 | -32 |
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 222 | 13 | 1 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | -318 | -22 | -31 |
Currency Translation Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 793 | 54 | 357 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | 818 | 174 | -381 |
Costs and Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 25 | 120 | -738 |
Cash Flow Hedge [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | -177 | -245 | 202 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | 271 | -68 | -978 |
Interest and other financial charges | ' | ' | ' | ' | ' | ' | ' | ' | -364 | -499 | -820 |
Other Nonoperating Income (Expense) | ' | ' | ' | ' | ' | ' | ' | ' | 248 | -116 | 150 |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | 448 | 177 | -1,180 |
Cash Flow Hedge [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Foreign Exchange Contract [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financial Services Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 564 | 792 | -510 |
Pension Plan, Defined Benefit [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 1,610 | 1,604 | 1,152 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | -3,037 | -2,987 | -2,092 |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | -4,647 | -4,591 | -3,244 |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | ' | ' | ' | ' | ' | ' | ' | ' | -664 | -823 | -855 |
Defined Benefit Plan, Amortization of Gains (Losses) | ' | ' | ' | ' | ' | ' | ' | ' | ($3,983) | ($3,768) | ($2,389) |
Recovered_Sheet2
Other Stock-Related Information (Stock Compensation Plans) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award | ' | ' | ' |
Share Based Compensation Shares Authorized Under Stock Option Years Until Expiration | 10 | ' | ' |
Options | 473,611,000 | 467,837,000 | ' |
Share Based Compensation Arrangements Total Number Awards Outstanding | 488,133,000 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | 20.02 | 19.27 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 404,574,000 | ' | ' |
Approved By Shareowners [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award | ' | ' | ' |
Options | 473,247,000 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | 20.02 | ' | ' |
Not Approved By Shareowners Consultants Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award | ' | ' | ' |
Options | 364,000 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | 25.32 | ' | ' |
Plan 2007 [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award | ' | ' | ' |
Maximum Available Share Based Awards Granted In Any Form Other Than Stock Option Or Stock Appreciation Rights | 230,000,000 | ' | ' |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award | ' | ' | ' |
RSU's | 13,572,000 | 14,878,000 | ' |
Restricted Stock Units (RSUs) [Member] | Approved By Shareowners [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award | ' | ' | ' |
RSU's | 13,572,000 | ' | ' |
Restricted Stock Units (RSUs) [Member] | Not Approved By Shareowners Consultants Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award | ' | ' | ' |
RSU's | 0 | ' | ' |
Performance Share Units [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award | ' | ' | ' |
RSU's | 1,000,000 | ' | ' |
Performance Share Units [Member] | Approved By Shareowners [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award | ' | ' | ' |
RSU's | 950,000 | ' | ' |
Stock Options [Member] | Plan 2007 [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 376,400,000 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | ' | 925,000,000 | 500,000,000 |
Stock Options [Member] | Consultants' Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 28,200,000 | ' | ' |
Upper Limit [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award | ' | ' | ' |
Service period over which stock options vest | 'five | ' | ' |
Lower Limit [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award | ' | ' | ' |
Service period over which stock options vest | 'one | ' | ' |
Recovered_Sheet3
Other Stock-Related Information (Options Outstanding) (Details) (USD $) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range | ' | ' |
Shares - Outstanding - Total | 473,611 | 467,837 |
Average life - Outstanding - Total | '6 years 6 months | ' |
Average exercise price Outstanding - Total | $20.02 | $19.27 |
Shares - Exercisable - Total | 254,003 | ' |
Average exercise price - Exercisable - Total | $20.15 | ' |
Stock Options [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range | ' | ' |
Shares - Exercisable - Total | ' | 214,000 |
Average exercise price - Exercisable - Total | ' | $20.85 |
Under $10.00 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range | ' | ' |
Shares - Outstanding | 34,973 | ' |
Average life - Outstanding | '4 years 11 months | ' |
Average exercise price - Outstanding | $9.57 | ' |
Shares - Exercisable | 26,995 | ' |
Average exercise price - Exercisable | $9.57 | ' |
10.01-15.00 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range | ' | ' |
Shares - Outstanding | 56,571 | ' |
Average life - Outstanding | '5 years 1 month | ' |
Average exercise price - Outstanding | $11.98 | ' |
Shares - Exercisable | 45,821 | ' |
Average exercise price - Exercisable | $11.98 | ' |
15.01-20.00 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range | ' | ' |
Shares - Outstanding | 172,157 | ' |
Average life - Outstanding | '6 years 10 months | ' |
Average exercise price - Outstanding | $17.46 | ' |
Shares - Exercisable | 91,007 | ' |
Average exercise price - Exercisable | $17.24 | ' |
20.01-25.00 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range | ' | ' |
Shares - Outstanding | 139,740 | ' |
Average life - Outstanding | '9 years 1 month | ' |
Average exercise price - Outstanding | $22.55 | ' |
Shares - Exercisable | 20,533 | ' |
Average exercise price - Exercisable | $21.57 | ' |
25.01-30.00 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range | ' | ' |
Shares - Outstanding | 20,638 | ' |
Average life - Outstanding | '4 years 4 months | ' |
Average exercise price - Outstanding | $28.19 | ' |
Shares - Exercisable | 20,115 | ' |
Average exercise price - Exercisable | $28.23 | ' |
30.01-35.00 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range | ' | ' |
Shares - Outstanding | 35,993 | ' |
Average life - Outstanding | '1 year 7 months | ' |
Average exercise price - Outstanding | $33.54 | ' |
Shares - Exercisable | 35,993 | ' |
Average exercise price - Exercisable | $33.54 | ' |
Over $35.00 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range | ' | ' |
Shares - Outstanding | 13,539 | ' |
Average life - Outstanding | '3 years 4 months | ' |
Average exercise price - Outstanding | $38.67 | ' |
Shares - Exercisable | 13,539 | ' |
Average exercise price - Exercisable | $38.67 | ' |
Other_StockRelated_Information2
Other Stock-Related Information (Stock Option Activity) (Details) (USD $) | 12 Months Ended | ||
In Millions, except Share data in Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Shares | ' | ' | ' |
Outstanding at January 1, | 467,837 | ' | ' |
Granted | 62,762 | ' | ' |
Exercised | -36,191 | ' | ' |
Forfeited | -9,688 | ' | ' |
Expired | -11,109 | ' | ' |
Outstanding at December 31, | 473,611 | 467,837 | ' |
Exercisable at December 31, | 254,003 | ' | ' |
Options expected to vest | 200,909 | ' | ' |
Weighted average exercise price | ' | ' | ' |
Outstanding at January 1, | $19.27 | ' | ' |
Granted | $23.80 | ' | ' |
Exercised | $13.65 | ' | ' |
Forfeited | $18.95 | ' | ' |
Expired | $31.60 | ' | ' |
Outstanding at December 31, | $20.02 | $19.27 | ' |
Exercisable at December 31, | $20.15 | ' | ' |
Options expected to vest | $19.79 | ' | ' |
Weighted average exercise remaining contractual term (in years) | ' | ' | ' |
Outstanding at December 31, | '6 years 6 months | ' | ' |
Exercisable at December 31, | '5 years 1 month | ' | ' |
Options expected to vest | '8 years 0 months | ' | ' |
Aggregate intrinsic value | ' | ' | ' |
Outstanding at December 31, | $4,140 | ' | ' |
Exercisable at December 31, | 2,348 | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Options Expected To Vest Outstanding Aggregate Intrinsic Value | 1,656 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $4.52 | $3.80 | $4 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | 392 | 265 | 65 |
Stock or Unit Option Plan Expense | 231 | 220 | 230 |
Tax Benefit from Stock Options Exercised | 145 | 153 | 163 |
Stock Options [Member] | ' | ' | ' |
Shares | ' | ' | ' |
Exercisable at December 31, | ' | 214,000 | ' |
Weighted average exercise price | ' | ' | ' |
Exercisable at December 31, | ' | $20.85 | ' |
Aggregate intrinsic value | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.50% | 1.30% | 2.60% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 4.00% | 4.00% | 3.90% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 28.00% | 29.00% | 30.00% |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 663 | ' | ' |
Unrecognized Compensation Cost Expected To Be Recognized In Subsequent Year | 180 | ' | ' |
Proceeds from Issuance of Shares under Incentive and Share-based Compensation Plans, Including Stock Options | 490 | 355 | 89 |
Tax Benefit from Stock Options Exercised | $128 | $88 | $21 |
Expected Term Of Share Based Compensation Arrangement by Share Based Payment Award, Fair Value Assumptions | '7.5 | '7.8 | '7.7 |
Employee Service Share Based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | '2 | ' | ' |
Other_StockRelated_Information3
Other Stock-Related Information (Other Stock-based Compensation) (Details) (USD $) | 12 Months Ended | ||
In Millions, except Share data in Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Aggregate intrinsic value | ' | ' | ' |
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | $145 | $153 | $163 |
Excess Of Actual Tax Deductions Over Amounts Assumed Recognized In Shareowners Equity | 86 | 53 | 12 |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Shares | ' | ' | ' |
Outstanding at January 1, | 14,878 | ' | ' |
Granted | 3,951 | ' | ' |
Vested | -4,583 | ' | ' |
Forfeited | -674 | ' | ' |
Outstanding at December 31, | 13,572 | 14,878 | ' |
RSUs expected to vest | 12,352 | ' | ' |
Weighted average exercise price | ' | ' | ' |
RSUs Outstanding at January 1, | $22.45 | ' | ' |
Granted | $24.54 | $20.79 | $16.74 |
Vested | $24.35 | ' | ' |
Forfeited | $21.25 | ' | ' |
RSUs Outstanding at December 31, | $22.58 | $22.45 | ' |
RSUs expected to vest | $22.32 | ' | ' |
Weighted average exercise remaining contractual term (in years) | ' | ' | ' |
RSU's outstanding at December 31, | '2 years 10 months | ' | ' |
Shares-based compensation other than stock options expected to vest | '2 years 8 months | ' | ' |
Aggregate intrinsic value | ' | ' | ' |
RSUs Outstanding at December 31, | 380 | ' | ' |
RSUs expected to vest | 346 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $24.54 | $20.79 | $16.74 |
Share Based Compensation Arrangement Equity Awards Other Than Options Vested In Period Intrinsic Value | 109 | 116 | 154 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 190 | ' | ' |
Unrecognized Compensation Cost Expected To Be Recognized In Subsequent Year | 42 | ' | ' |
Employee Service Share Based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | '2 | ' | ' |
Performance Share Units [Member] | ' | ' | ' |
Shares | ' | ' | ' |
Outstanding at December 31, | 1,000 | ' | ' |
Weighted average exercise remaining contractual term (in years) | ' | ' | ' |
Shares-based compensation other than stock options expected to vest | '2 years | ' | ' |
Aggregate intrinsic value | ' | ' | ' |
Share Based Compensation Arrangement By Share Based PaymentAward Equity Instruments Other Than Options Outstanding Intrinsic Value | 27 | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 8 | ' | ' |
Restricted Stock Units RSU And Performance Share Units [Member] | ' | ' | ' |
Aggregate intrinsic value | ' | ' | ' |
Allocated Share-based Compensation Expense | $62 | $79 | $84 |
Other_Income_Details
Other Income (Details) (USD $) | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Mar. 19, 2013 | Jan. 28, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Consolidation, Eliminations [Member] | Consolidation, Eliminations [Member] | Consolidation, Eliminations [Member] | NBCU LLC [Member] | NBCU LLC [Member] | NBCU LLC [Member] | NBCU LLC [Member] | NBCU LLC [Member] | Associated Companies [Member] | Associated Companies [Member] | Associated Companies [Member] | Licensing And Royalty Income [Member] | Licensing And Royalty Income [Member] | Licensing And Royalty Income [Member] | Purchases And Sales Of Business Interests [Member] | Purchases And Sales Of Business Interests [Member] | Purchases And Sales Of Business Interests [Member] | Interest Income From Finance Subsidiary [Member] | Interest Income From Finance Subsidiary [Member] | Interest Income From Finance Subsidiary [Member] | Marketable Securities And Bank Deposits [Member] | Marketable Securities And Bank Deposits [Member] | Marketable Securities And Bank Deposits [Member] | Other Items [Member] | Other Items [Member] | Other Items [Member] | Other Income Including Eliminations [Member] | Other Income Including Eliminations [Member] | Other Income Including Eliminations [Member] | ||||
Component of Other Income, Nonoperating | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other income | $3,108 | $2,563 | $5,063 | $222 | ($94) | ($205) | ' | ' | ' | ' | ' | $40 | $1,545 | $894 | $320 | $290 | $304 | $1,777 | $574 | $3,804 | $21 | $114 | $206 | $54 | $38 | $52 | $674 | $96 | $8 | $2,886 | $2,657 | $5,268 |
Income (Loss) from Equity Method Investments | ' | ' | ' | ' | ' | ' | 1,416 | 789 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pre Tax Gain On Sale Of Business | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,096 | 3,705 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain On Sale Of Business Net Of Tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | 825 | 526 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (Loss) on Sale of Assets and Asset Impairment Charges | $330 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ownership Percentage In Newly Formed Entity | ' | ' | ' | ' | ' | ' | ' | ' | 49.00% | ' | 49.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
GECC_Revenues_from_Services_De
GECC Revenues from Services (Details) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | |||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 19, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cembra [Member] | Brazilian Company [Member] | Sale Of Rockefeller Center [Member] | Bank of Ayudhya [Member] | Consolidation, Eliminations [Member] | Consolidation, Eliminations [Member] | Consolidation, Eliminations [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Subsidiaries GECC [Member] | Gross Eliminations [Member] | Gross Eliminations [Member] | Gross Eliminations [Member] | ||||
Sale Of Rockefeller Center [Member] | Garanti Bank [Member] | |||||||||||||||||
Subsidiary Revenue From Services [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest On Loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $17,951 | $18,843 | $19,818 | ' | ' | ' | ' | ' |
Equipment leased to others | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,804 | 10,456 | 10,879 | ' | ' | ' | ' | ' |
Fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,720 | 4,709 | 4,669 | ' | ' | ' | ' | ' |
Investment Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,809 | 2,630 | 2,500 | ' | ' | ' | ' | ' |
Financing leases | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,667 | 1,888 | 2,378 | ' | ' | ' | ' | ' |
Premiums earned by insurance activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,573 | 1,715 | 1,905 | ' | ' | ' | ' | ' |
Real estate investments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,528 | 1,709 | 1,625 | ' | ' | ' | ' | ' |
Associated companies | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,809 | 1,538 | 2,337 | ' | ' | ' | ' | ' |
Other items | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,080 | 1,757 | 2,065 | ' | ' | ' | ' | ' |
Total | 42,395 | 43,972 | 46,957 | ' | ' | ' | ' | -1,546 | -1,273 | -1,219 | 43,941 | 45,245 | 48,176 | ' | ' | 43,941 | 45,245 | 48,176 |
Net other-than-temporary impairments on investment securities | 767 | 141 | 387 | ' | ' | ' | ' | ' | ' | ' | 747 | 140 | 387 | ' | ' | ' | ' | ' |
Guarantee Provided By Parent Offset | ' | ' | ' | ' | 96 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (Loss) on Sale of Equity Investments | ' | ' | ' | ' | ' | ' | 641 | ' | ' | ' | ' | ' | ' | ' | 690 | ' | ' | ' |
Equity Method Investment, Ownership Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18.60% | ' | ' | ' |
Proceeds from Sale of Real Estate Held-for-investment | ' | ' | ' | ' | ' | 1,430 | ' | ' | ' | ' | ' | ' | ' | 902 | ' | ' | ' | ' |
Gain on Sale of Investments | ' | ' | ' | $351 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental_Cost_Information_1
Supplemental Cost Information (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Supplemental Income Statement Elements | ' | ' | ' | |||
Research and development expenditures | $4,750 | $4,520 | $4,601 | |||
Research and development funding from customers | 711 | 680 | 788 | |||
Leases, Operating | ' | ' | ' | |||
Rental expense under operating leases | 1,513 | 1,531 | 1,385 | |||
Amounts payable over the next five years | ' | ' | ' | |||
2014 | 854 | ' | ' | |||
2015 | 752 | ' | ' | |||
2016 | 674 | ' | ' | |||
2017 | 569 | ' | ' | |||
2018 | 451 | ' | ' | |||
Payments to participants are recorded as costs of services sold | 820 | 594 | 612 | |||
Payments to participants are recorded as costs of goods sold | 2,613 | 2,507 | 1,996 | |||
Cost And Expenses Other | 35,143 | 35,897 | 36,841 | |||
Depreciation, Amortization and Accretion, Net | 9,762 | 9,192 | 8,986 | |||
Aviation [Member] | ' | ' | ' | |||
Amounts payable over the next five years | ' | ' | ' | |||
Participant fees and other income | 44 | 36 | 12 | |||
Consolidation, Eliminations [Member] | ' | ' | ' | |||
Leases, Operating | ' | ' | ' | |||
Rental expense under operating leases | -135 | -142 | -165 | |||
Amounts payable over the next five years | ' | ' | ' | |||
2014 | -59 | ' | ' | |||
2015 | -42 | ' | ' | |||
2016 | -34 | ' | ' | |||
2017 | -24 | ' | ' | |||
2018 | -16 | ' | ' | |||
Subsidiaries [Member] | ' | ' | ' | |||
Leases, Operating | ' | ' | ' | |||
Rental expense under operating leases | 1,220 | 1,134 | 958 | |||
Minimum rental commitments under noncancellable operating leases | 3,087 | ' | ' | |||
Amounts payable over the next five years | ' | ' | ' | |||
2014 | 660 | ' | ' | |||
2015 | 581 | ' | ' | |||
2016 | 523 | ' | ' | |||
2017 | 440 | ' | ' | |||
2018 | 354 | ' | ' | |||
Cost And Expenses Other | 16,105 | [1] | 17,671 | [1] | 17,554 | [1] |
Depreciation, Amortization and Accretion, Net | 2,449 | [1] | 2,291 | [1] | 2,068 | [1] |
Subsidiaries GECC [Member] | ' | ' | ' | |||
Leases, Operating | ' | ' | ' | |||
Rental expense under operating leases | 428 | 539 | 592 | |||
Minimum rental commitments under noncancellable operating leases | 1,427 | ' | ' | |||
Amounts payable over the next five years | ' | ' | ' | |||
2014 | 253 | ' | ' | |||
2015 | 213 | ' | ' | |||
2016 | 185 | ' | ' | |||
2017 | 153 | ' | ' | |||
2018 | 113 | ' | ' | |||
Selling, general and administrative expenses | 12,463 | 12,023 | 13,009 | |||
Cost And Expenses Other | 19,776 | 18,924 | 19,927 | |||
Depreciation, Amortization and Accretion, Net | $7,313 | $6,901 | $6,918 | |||
[1] | (a)Â Â Â Â Â Â Â Â 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. |
Earnings_Per_Share_Information2
Earnings Per Share Information (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Amount attributable to the Company: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings (loss) from continuing operations for per-share calculation, Basic | ' | ' | ' | ' | ' | ' | ' | ' | $15,157 | $14,603 | $14,101 |
Preferred stock dividends declared, Basic | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 1,031 |
Earnings from continuing operations attributable to common shareowners for per-share calculation, Basic | ' | ' | ' | ' | ' | ' | ' | ' | 15,157 | 14,603 | 13,070 |
Earnings (loss) from discontinued operations for per-share calculation, Basic | ' | ' | ' | ' | ' | ' | ' | ' | -2,116 | -980 | 30 |
Net earnings attributable to GE common shareowners for per-share calculation, Basic | ' | ' | ' | ' | ' | ' | ' | ' | 13,040 | 13,622 | 13,098 |
Earnings (loss) from continuing operations for per-share calculation, Diluted | ' | ' | ' | ' | ' | ' | ' | ' | 15,145 | 14,604 | 14,102 |
Preferred stock dividends declared, Diluted | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -1,031 |
Earnings (loss) from discontinued operations for per-share calculation, Diluted | ' | ' | ' | ' | ' | ' | ' | ' | -2,128 | -980 | 30 |
Earnings from continuing operations attributable to common shareowners for per-share calculation, Diluted | ' | ' | ' | ' | ' | ' | ' | ' | 15,145 | 14,604 | 13,070 |
Net earnings attributable to GE common shareowners for per-share calculation, Diluted | ' | ' | ' | ' | ' | ' | ' | ' | 13,028 | 13,622 | 13,099 |
Average equivalent shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares of GE common stock outstanding, Basic | ' | ' | ' | ' | ' | ' | ' | ' | 10,222 | 10,523 | 10,591 |
Employee compensation-related shares (including stock options) and warrants, Basic | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Shares of GE common stock Issued Basic | ' | ' | ' | ' | ' | ' | ' | ' | 10,222 | 10,523 | 10,591 |
Shares of GE common stock outstanding, Diluted | ' | ' | ' | ' | ' | ' | ' | ' | 10,289 | 10,564 | 10,620 |
Employee compensation-related shares (including stock options) and warrants, Diluted | ' | ' | ' | ' | ' | ' | ' | ' | 67 | 41 | 29 |
Shares of GE common stock Issued Diluted | ' | ' | ' | ' | ' | ' | ' | ' | 10,222 | 10,523 | 10,591 |
Per-share amounts | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings (loss) from continuing operations-Basic | $0.49 | $0.32 | $0.32 | $0.35 | $0.41 | $0.33 | $0.34 | $0.30 | $1.48 | $1.39 | $1.23 |
Earnings (loss) from discontinued operations-Basic | ($0.18) | ($0.01) | ($0.01) | ($0.01) | ($0.03) | $0 | ($0.05) | ($0.02) | ($0.21) | ($0.09) | $0 |
Net earnings-Basic | $0.32 | $0.31 | $0.30 | $0.34 | $0.38 | $0.33 | $0.29 | $0.29 | $1.28 | $1.29 | $1.24 |
Earnings (loss) from continuing operations-Diluted | $0.49 | $0.32 | $0.31 | $0.35 | $0.41 | $0.33 | $0.34 | $0.30 | $1.47 | $1.38 | $1.23 |
Earnings (loss) from discontinued operations-Diluted | ($0.18) | ($0.01) | ($0.01) | ($0.01) | ($0.03) | $0 | ($0.05) | ($0.02) | ($0.21) | ($0.09) | $0 |
Net earnings-Diluted | $0.32 | $0.31 | $0.30 | $0.34 | $0.38 | $0.33 | $0.29 | $0.29 | $1.27 | $1.29 | $1.23 |
Outstanding anti-dilutive stock awards not included in computation of diluted earnings per share | ' | ' | ' | ' | ' | ' | ' | ' | 121 | 292 | 321 |
Dividend Equivalents Included In Earnings For EPS Calculation, Diluted | ' | ' | ' | ' | ' | ' | ' | ' | 'insignificant amount | 'insignificant amount | 'insignificant amount |
Dividend Equivalents Included In Earnings For EPS Calculation, Basic | ' | ' | ' | ' | ' | ' | ' | ' | 'insignificant amount | 'insignificant amount | 'insignificant amount |
Percentage Preferred Stock Dividend | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% |
Preferred Stock Redemption [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount attributable to the Company: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock dividends declared, Basic | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $806 |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investment securities | $43,981 | $48,510 |
Fair Value Of Securities Transferred Between Level One And Level Two | 2 | ' |
Cumulative Gain (Loss) Adjustment For Non Performance Risk | -7 | -15 |
Domestic Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 0 | 0 |
Domestic Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 18,788 | 20,580 |
Domestic Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 2,953 | 3,591 |
Domestic Corporate Debt Securities [Member] | Netting Adjustment Including Collateral [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 0 | 0 |
Domestic Corporate Debt Securities [Member] | Net Balance [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 21,741 | 24,171 |
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 0 | 0 |
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 3,025 | 3,088 |
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 10 | 6 |
Commercial Mortgage Backed Securities [Member] | Netting Adjustment Including Collateral [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 0 | 0 |
Commercial Mortgage Backed Securities [Member] | Net Balance [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 3,035 | 3,094 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 0 | 0 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 4,193 | 4,469 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 96 | 77 |
US States and Political Subdivisions Debt Securities [Member] | Netting Adjustment Including Collateral [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 0 | 0 |
US States and Political Subdivisions Debt Securities [Member] | Net Balance [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 4,289 | 4,546 |
Foreign Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 61 | 71 |
Foreign Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 645 | 1,132 |
Foreign Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 1,064 | 1,218 |
Foreign Corporate Debt Securities [Member] | Netting Adjustment Including Collateral [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 0 | 0 |
Foreign Corporate Debt Securities [Member] | Net Balance [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 1,770 | 2,421 |
Asset-backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 0 | 0 |
Asset-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 489 | 715 |
Asset-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 6,898 | 5,023 |
Asset-backed Securities [Member] | Netting Adjustment Including Collateral [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 0 | 0 |
Asset-backed Securities [Member] | Net Balance [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 7,387 | 5,738 |
Foreign Government Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 1,590 | 702 |
Foreign Government Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 789 | 1,019 |
Foreign Government Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 31 | 42 |
Foreign Government Debt Securities [Member] | Netting Adjustment Including Collateral [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 0 | 0 |
Foreign Government Debt Securities [Member] | Net Balance [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 2,410 | 1,763 |
US Treasury and Government [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 0 | 0 |
US Treasury and Government [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 545 | 3,288 |
US Treasury and Government [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 225 | 277 |
US Treasury and Government [Member] | Netting Adjustment Including Collateral [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 0 | 0 |
US Treasury and Government [Member] | Net Balance [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 770 | 3,565 |
Retained Interest [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 0 | 0 |
Retained Interest [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 0 | 0 |
Retained Interest [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 72 | 83 |
Retained Interest [Member] | Netting Adjustment Including Collateral [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 0 | 0 |
Retained Interest [Member] | Net Balance [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 72 | 83 |
Available-for-sale Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 475 | 590 |
Available-for-sale Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 31 | 16 |
Available-for-sale Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 11 | 13 |
Available-for-sale Securities [Member] | Netting Adjustment Including Collateral [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 0 | 0 |
Available-for-sale Securities [Member] | Net Balance [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 517 | 619 |
Trading [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 78 | 248 |
Trading [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 2 | 0 |
Trading [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 0 | 0 |
Trading [Member] | Netting Adjustment Including Collateral [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 0 | 0 |
Trading [Member] | Net Balance [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 80 | 248 |
Derivatives [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Derivative assets | 0 | 0 |
Derivative liabilities | 0 | 0 |
Derivatives [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Derivative assets | 8,304 | 11,432 |
Derivative liabilities | 5,409 | 3,434 |
Derivatives [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Derivative assets | 175 | 434 |
Derivative liabilities | 20 | 20 |
Derivatives [Member] | Netting Adjustment Including Collateral [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Derivative assets | -6,739 | -7,926 |
Derivative liabilities | -4,355 | -3,177 |
Derivatives [Member] | Net Balance [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Derivative assets | 1,740 | 3,940 |
Derivative liabilities | 1,074 | 277 |
Other 1 [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Other Assets | 0 | 35 |
Other Liabilities | 0 | 0 |
Other 1 [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Other Assets | 0 | 0 |
Other Liabilities | 1,170 | 908 |
Other 1 [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Other Assets | 494 | 799 |
Other Liabilities | 0 | 0 |
Other 1 [Member] | Netting Adjustment Including Collateral [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Other Assets | 0 | 0 |
Other Liabilities | 0 | 0 |
Other 1 [Member] | Net Balance [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Other Assets | 494 | 834 |
Other Liabilities | 1,170 | 908 |
Total [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Total Assets | 2,204 | 1,646 |
Total Liabilities | 0 | 0 |
Total [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Total Assets | 38,635 | 47,901 |
Total Liabilities | 6,579 | 4,342 |
Total [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Total Assets | 12,115 | 11,663 |
Total Liabilities | 20 | 20 |
Total [Member] | Netting Adjustment Including Collateral [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Total Assets | -6,739 | -7,926 |
Total Liabilities | -4,355 | -3,177 |
Total [Member] | Net Balance [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Total Assets | 46,215 | 53,284 |
Total Liabilities | 2,244 | 1,185 |
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 0 | 0 |
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 1,824 | 2,162 |
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 86 | 100 |
Residential Mortgage Backed Securities [Member] | Netting Adjustment Including Collateral [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 0 | 0 |
Residential Mortgage Backed Securities [Member] | Net Balance [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | $1,910 | $2,262 |
Fair_Value_Measurements_Change
Fair Value Measurements (Changes in Level 3 Instruments) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' |
Changes in Level 3 | $2,816 | $3,146 | ' |
Cash Accruals Not Included In Schedule Assets Measured For Fair Value On Recurring Basis | 9 | 2 | ' |
Domestic Corporate Debt Securities [Member] | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' |
Changes in Level 3 | 2,953 | 3,591 | 3,235 |
Net realized/unrealized gains (losses) included in earnings | -497 | 66 | ' |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | 135 | 32 | ' |
Purchases | 380 | 483 | ' |
Sales | -424 | -214 | ' |
Settlements | -231 | -110 | ' |
Transfers into Level 3 | 108 | 299 | ' |
Transfers out of Level 3 | -109 | -200 | ' |
Net change in unrealized gains (losses) relating to instruments still held | 0 | 0 | ' |
US States and Political Subdivisions Debt Securities [Member] | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' |
Changes in Level 3 | 96 | 77 | 77 |
Net realized/unrealized gains (losses) included in earnings | 0 | 0 | ' |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | -7 | 10 | ' |
Purchases | 21 | 16 | ' |
Sales | 0 | 0 | ' |
Settlements | -5 | -1 | ' |
Transfers into Level 3 | 10 | 78 | ' |
Transfers out of Level 3 | 0 | -103 | ' |
Net change in unrealized gains (losses) relating to instruments still held | 0 | 0 | ' |
Residential Mortgage Backed Securities [Member] | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' |
Changes in Level 3 | 86 | 100 | 41 |
Net realized/unrealized gains (losses) included in earnings | 0 | -3 | ' |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | -5 | 1 | ' |
Purchases | 0 | 6 | ' |
Sales | -2 | 0 | ' |
Settlements | -7 | -3 | ' |
Transfers into Level 3 | 0 | 135 | ' |
Transfers out of Level 3 | 0 | -77 | ' |
Net change in unrealized gains (losses) relating to instruments still held | 0 | 0 | ' |
Commercial Mortgage Backed Securities [Member] | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' |
Changes in Level 3 | 10 | 6 | 4 |
Net realized/unrealized gains (losses) included in earnings | 0 | 0 | ' |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | 0 | -1 | ' |
Purchases | 0 | 0 | ' |
Sales | 0 | 0 | ' |
Settlements | -6 | 0 | ' |
Transfers into Level 3 | 10 | 6 | ' |
Transfers out of Level 3 | 0 | -3 | ' |
Net change in unrealized gains (losses) relating to instruments still held | 0 | 0 | ' |
Asset-backed Securities [Member] | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' |
Changes in Level 3 | 6,898 | 5,023 | 4,040 |
Net realized/unrealized gains (losses) included in earnings | 5 | 1 | ' |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | 32 | -25 | ' |
Purchases | 2,632 | 1,490 | ' |
Sales | -4 | -502 | ' |
Settlements | -795 | 0 | ' |
Transfers into Level 3 | 12 | 25 | ' |
Transfers out of Level 3 | -7 | -6 | ' |
Net change in unrealized gains (losses) relating to instruments still held | 0 | 0 | ' |
Foreign Corporate Debt Securities [Member] | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' |
Changes in Level 3 | 1,064 | 1,218 | 1,204 |
Net realized/unrealized gains (losses) included in earnings | -103 | -11 | ' |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | 49 | 19 | ' |
Purchases | 5,814 | 341 | ' |
Sales | -3 | -51 | ' |
Settlements | -5,874 | -172 | ' |
Transfers into Level 3 | 21 | 24 | ' |
Transfers out of Level 3 | -58 | -136 | ' |
Net change in unrealized gains (losses) relating to instruments still held | 0 | 0 | ' |
Foreign Government Debt Securities [Member] | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' |
Changes in Level 3 | 31 | 42 | 84 |
Net realized/unrealized gains (losses) included in earnings | 1 | -33 | ' |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | -12 | 38 | ' |
Purchases | 0 | 65 | ' |
Sales | 0 | -72 | ' |
Settlements | 0 | -40 | ' |
Transfers into Level 3 | 0 | 0 | ' |
Transfers out of Level 3 | 0 | 0 | ' |
Net change in unrealized gains (losses) relating to instruments still held | 0 | 0 | ' |
US Treasury and Government [Member] | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' |
Changes in Level 3 | 225 | 277 | 253 |
Net realized/unrealized gains (losses) included in earnings | 0 | 0 | ' |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | -52 | 24 | ' |
Purchases | 0 | 0 | ' |
Sales | 0 | 0 | ' |
Settlements | 0 | 0 | ' |
Transfers into Level 3 | 0 | 0 | ' |
Transfers out of Level 3 | 0 | 0 | ' |
Net change in unrealized gains (losses) relating to instruments still held | 0 | 0 | ' |
Retained Interest [Member] | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' |
Changes in Level 3 | 72 | 83 | 35 |
Net realized/unrealized gains (losses) included in earnings | 3 | -1 | ' |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | 1 | -3 | ' |
Purchases | 6 | 16 | ' |
Sales | 0 | -6 | ' |
Settlements | -21 | -12 | ' |
Transfers into Level 3 | 0 | 54 | ' |
Transfers out of Level 3 | 0 | 0 | ' |
Net change in unrealized gains (losses) relating to instruments still held | 0 | 0 | ' |
Available-for-sale Securities [Member] | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' |
Changes in Level 3 | 11 | 13 | 17 |
Net realized/unrealized gains (losses) included in earnings | 0 | 0 | ' |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | 0 | -1 | ' |
Purchases | 0 | 3 | ' |
Sales | 0 | -3 | ' |
Settlements | 0 | -1 | ' |
Transfers into Level 3 | 0 | 2 | ' |
Transfers out of Level 3 | -2 | -4 | ' |
Net change in unrealized gains (losses) relating to instruments still held | 0 | 0 | ' |
Trading [Member] | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' |
Changes in Level 3 | 0 | 0 | 0 |
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 | 0 | ' |
Net change in unrealized gains (losses) relating to instruments still held | 0 | 0 | ' |
Derivatives [Member] | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' |
Changes in Level 3 | 164 | 416 | 369 |
Net realized/unrealized gains (losses) included in earnings | -66 | 29 | ' |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | 2 | -1 | ' |
Purchases | -2 | -1 | ' |
Sales | 0 | 0 | ' |
Settlements | -226 | -112 | ' |
Transfers into Level 3 | 37 | 190 | ' |
Transfers out of Level 3 | 3 | -58 | ' |
Net change in unrealized gains (losses) relating to instruments still held | 30 | -160 | ' |
Other 1 [Member] | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' |
Changes in Level 3 | 494 | 799 | 817 |
Net realized/unrealized gains (losses) included in earnings | -68 | 50 | ' |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | 12 | 2 | ' |
Purchases | 538 | 159 | ' |
Sales | -779 | -137 | ' |
Settlements | 0 | 0 | ' |
Transfers into Level 3 | 4 | 0 | ' |
Transfers out of Level 3 | -12 | -92 | ' |
Net change in unrealized gains (losses) relating to instruments still held | 102 | -43 | ' |
Total [Member] | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' |
Changes in Level 3 | 12,104 | 11,645 | 10,176 |
Net realized/unrealized gains (losses) included in earnings | -725 | 98 | ' |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | 155 | 95 | ' |
Purchases | 9,389 | 2,578 | ' |
Sales | -1,212 | -985 | ' |
Settlements | -7,165 | -451 | ' |
Transfers into Level 3 | 202 | 813 | ' |
Transfers out of Level 3 | -185 | -679 | ' |
Net change in unrealized gains (losses) relating to instruments still held | $132 | ($203) | ' |
Fair_Value_Measurements_NonRec
Fair Value Measurements (Non-Recurring Fair Value Measurements) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Fair value assets measured on non recurring basis | $1,460 | $2,412 |
Financing receivables and loans held for sale [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Adjustments To Assets Measured At Fair Value On Non Recurring Basis | -361 | -595 |
Cost and equity method investments [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Adjustments To Assets Measured At Fair Value On Non Recurring Basis | -484 | -153 |
Long Lived Assets, Including Real Estate [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Adjustments To Assets Measured At Fair Value On Non Recurring Basis | -1,188 | -624 |
Private Equity And Real Estate Funds [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Fair value assets measured on non recurring basis | 126 | 84 |
Adjustments To Assets Measured At Fair Value On Non Recurring Basis | -14 | -33 |
Real Estate Equity Properties And Investments [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Impairment of Long-Lived Assets Held-for-use | 108 | 218 |
Total [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Adjustments To Assets Measured At Fair Value On Non Recurring Basis | -2,033 | -1,372 |
Fair Value, Inputs, Level 2 [Member] | Financing receivables and loans held for sale [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Fair value assets measured on non recurring basis | 210 | 366 |
Fair Value, Inputs, Level 2 [Member] | Cost and equity method investments [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Fair value assets measured on non recurring basis | 0 | 8 |
Fair Value, Inputs, Level 2 [Member] | Long Lived Assets, Including Real Estate [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Fair value assets measured on non recurring basis | 2,050 | 702 |
Fair Value, Inputs, Level 2 [Member] | Total [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Fair value assets measured on non recurring basis | 2,260 | 1,076 |
Fair Value, Inputs, Level 3 [Member] | Financing receivables and loans held for sale [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Fair value assets measured on non recurring basis | 2,986 | 4,094 |
Fair Value, Inputs, Level 3 [Member] | Cost and equity method investments [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Fair value assets measured on non recurring basis | 690 | 313 |
Fair Value, Inputs, Level 3 [Member] | Long Lived Assets, Including Real Estate [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Fair value assets measured on non recurring basis | 1,088 | 2,182 |
Fair Value, Inputs, Level 3 [Member] | Total [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Fair value assets measured on non recurring basis | $4,764 | $6,589 |
Fair_Value_Measurements_Level_
Fair Value Measurements (Level 3 Measurements) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Fair value assets measured on non recurring basis | 1,460 | 2,412 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 2,816 | 3,146 |
Individually Insignificant Recurring Fair Value Measurements | 327 | 370 |
Individually Insignificant NonRecurring Fair Value Measurements | 571 | 285 |
Lower Limit [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Range Capitalization Rate Used For Level Three Valuation | 6.30% | ' |
Upper Limit [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Range Capitalization Rate Used For Level Three Valuation | 7.50% | ' |
Fair Value, Inputs, Level 3 [Member] | Financing receivables and loans held for sale [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Fair value assets measured on non recurring basis | 2,986 | 4,094 |
Fair Value, Inputs, Level 3 [Member] | Cost and equity method investments [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Fair value assets measured on non recurring basis | 690 | 313 |
Fair Value, Inputs, Level 3 [Member] | Long Lived Assets, Including Real Estate [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Fair value assets measured on non recurring basis | 1,088 | 2,182 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Domestic Corporate Debt Securities [Member] | Income Approach Valuation Techniques [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 898 | 1,652 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Domestic Corporate Debt Securities [Member] | Income Approach Valuation Techniques [Member] | Lower Limit [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Range Discount Rate Used For Level Three Valuation | 1.50% | 1.30% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Domestic Corporate Debt Securities [Member] | Income Approach Valuation Techniques [Member] | Upper Limit [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Range Discount Rate Used For Level Three Valuation | 13.30% | 29.90% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Domestic Corporate Debt Securities [Member] | Income Approach Valuation Techniques [Member] | Weighted Average [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Range Discount Rate Used For Level Three Valuation | 6.50% | 11.10% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Asset-backed Securities [Member] | Income Approach Valuation Techniques [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 6,854 | 4,977 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Asset-backed Securities [Member] | Income Approach Valuation Techniques [Member] | Lower Limit [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Range Discount Rate Used For Level Three Valuation | 1.20% | 2.10% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Asset-backed Securities [Member] | Income Approach Valuation Techniques [Member] | Upper Limit [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Range Discount Rate Used For Level Three Valuation | 10.50% | 13.10% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Asset-backed Securities [Member] | Income Approach Valuation Techniques [Member] | Weighted Average [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Range Discount Rate Used For Level Three Valuation | 3.70% | 3.80% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Foreign Corporate Debt Securities [Member] | Income Approach Valuation Techniques [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 819 | 865 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Foreign Corporate Debt Securities [Member] | Income Approach Valuation Techniques [Member] | Lower Limit [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Range Discount Rate Used For Level Three Valuation | 1.40% | 1.50% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Foreign Corporate Debt Securities [Member] | Income Approach Valuation Techniques [Member] | Upper Limit [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Range Discount Rate Used For Level Three Valuation | 46.00% | 25.00% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Foreign Corporate Debt Securities [Member] | Income Approach Valuation Techniques [Member] | Weighted Average [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Range Discount Rate Used For Level Three Valuation | 15.10% | 13.20% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Other 1 [Member] | Income Approach And Market Comparable Valuation Techniques [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 381 | 633 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Other 1 [Member] | Income Approach And Market Comparable Valuation Techniques [Member] | Lower Limit [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Range Discount Rate Used For Level Three Valuation | 5.20% | ' |
Weighted Average Cost Of Capital Used For Level Three Valuation | 9.30% | 8.70% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Other 1 [Member] | Income Approach And Market Comparable Valuation Techniques [Member] | Upper Limit [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Range Discount Rate Used For Level Three Valuation | 8.80% | ' |
Weighted Average Cost Of Capital Used For Level Three Valuation | 9.30% | 10.20% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Other 1 [Member] | Income Approach And Market Comparable Valuation Techniques [Member] | Weighted Average [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Range Discount Rate Used For Level Three Valuation | 5.30% | ' |
EBITDA Multiple Used For Level Three Valuation | 9.5 | ' |
Range Capitalization Rate Used For Level Three Valuation | 7.20% | ' |
Weighted Average Cost Of Capital Used For Level Three Valuation | ' | 8.70% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Other 1 [Member] | Income Approach And Market Comparable Valuation Techniques [Member] | EBITDA Multiple [Member] | Lower Limit [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
EBITDA Multiple Used For Level Three Valuation | 5.4 | 4.9 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Other 1 [Member] | Income Approach And Market Comparable Valuation Techniques [Member] | EBITDA Multiple [Member] | Upper Limit [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
EBITDA Multiple Used For Level Three Valuation | 12.5 | 10.6 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Other 1 [Member] | Income Approach And Market Comparable Valuation Techniques [Member] | EBITDA Multiple [Member] | Weighted Average [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
EBITDA Multiple Used For Level Three Valuation | ' | 7.9 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Other 1 [Member] | Income Approach And Business Enterprise Valuation Techniques [Member] | Weighted Average [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Weighted Average Cost Of Capital Used For Level Three Valuation | 9.30% | ' |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Financing receivables and loans held for sale [Member] | Income Approach And Business Enterprise Valuation Techniques [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Fair value assets measured on non recurring basis | 1,937 | 2,835 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Financing receivables and loans held for sale [Member] | Income Approach And Business Enterprise Valuation Techniques [Member] | Lower Limit [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Range Discount Rate Used For Level Three Valuation | 6.60% | ' |
Range Capitalization Rate Used For Level Three Valuation | 5.50% | 3.80% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Financing receivables and loans held for sale [Member] | Income Approach And Business Enterprise Valuation Techniques [Member] | Upper Limit [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Range Discount Rate Used For Level Three Valuation | 6.60% | ' |
Range Capitalization Rate Used For Level Three Valuation | 16.70% | 14.00% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Financing receivables and loans held for sale [Member] | Income Approach And Business Enterprise Valuation Techniques [Member] | Weighted Average [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Range Discount Rate Used For Level Three Valuation | 6.60% | ' |
Range Capitalization Rate Used For Level Three Valuation | 8.00% | 8.00% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Financing receivables and loans held for sale [Member] | Income Approach And Business Enterprise Valuation Techniques [Member] | EBITDA Multiple [Member] | Lower Limit [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
EBITDA Multiple Used For Level Three Valuation | 4.3 | 2 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Financing receivables and loans held for sale [Member] | Income Approach And Business Enterprise Valuation Techniques [Member] | EBITDA Multiple [Member] | Upper Limit [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
EBITDA Multiple Used For Level Three Valuation | 5.5 | 6 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Financing receivables and loans held for sale [Member] | Income Approach And Business Enterprise Valuation Techniques [Member] | EBITDA Multiple [Member] | Weighted Average [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
EBITDA Multiple Used For Level Three Valuation | 4.8 | 4.8 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Cost and equity method investments [Member] | Income Approach Valuation Techniques [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Fair value assets measured on non recurring basis | 102 | 72 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Cost and equity method investments [Member] | Income Approach Valuation Techniques [Member] | Lower Limit [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Range Capitalization Rate Used For Level Three Valuation | ' | 9.20% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Cost and equity method investments [Member] | Income Approach Valuation Techniques [Member] | Upper Limit [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Range Capitalization Rate Used For Level Three Valuation | ' | 12.80% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Cost and equity method investments [Member] | Income Approach Valuation Techniques [Member] | Weighted Average [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Range Capitalization Rate Used For Level Three Valuation | ' | 12.00% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Cost and equity method investments [Member] | Income Approach And Market Comparable Valuation Techniques [Member] | Lower Limit [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Range Discount Rate Used For Level Three Valuation | 5.70% | ' |
Range Capitalization Rate Used For Level Three Valuation | 8.50% | ' |
Fair Value Inputs, Revenue Multiple | 2.2 | ' |
Weighted Average Cost Of Capital Used For Level Three Valuation | 9.30% | ' |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Cost and equity method investments [Member] | Income Approach And Market Comparable Valuation Techniques [Member] | Upper Limit [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Range Discount Rate Used For Level Three Valuation | 5.90% | ' |
Range Capitalization Rate Used For Level Three Valuation | 10.60% | ' |
Fair Value Inputs, Revenue Multiple | 12.6 | ' |
Weighted Average Cost Of Capital Used For Level Three Valuation | 9.60% | ' |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Cost and equity method investments [Member] | Income Approach And Market Comparable Valuation Techniques [Member] | Weighted Average [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Range Discount Rate Used For Level Three Valuation | 5.80% | ' |
Range Capitalization Rate Used For Level Three Valuation | 10.00% | ' |
Fair Value Inputs, Revenue Multiple | 9.4 | ' |
Weighted Average Cost Of Capital Used For Level Three Valuation | 9.40% | ' |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Cost and equity method investments [Member] | Income Approach And Market Comparable Valuation Techniques [Member] | EBITDA Multiple [Member] | Lower Limit [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
EBITDA Multiple Used For Level Three Valuation | 7.1 | ' |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Cost and equity method investments [Member] | Income Approach And Market Comparable Valuation Techniques [Member] | EBITDA Multiple [Member] | Upper Limit [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
EBITDA Multiple Used For Level Three Valuation | 14.5 | ' |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Cost and equity method investments [Member] | Income Approach And Market Comparable Valuation Techniques [Member] | EBITDA Multiple [Member] | Weighted Average [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
EBITDA Multiple Used For Level Three Valuation | 11.3 | ' |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Long Lived Assets, Including Real Estate [Member] | Income Approach Valuation Techniques [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Fair value assets measured on non recurring basis | 694 | 985 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Long Lived Assets, Including Real Estate [Member] | Income Approach Valuation Techniques [Member] | Lower Limit [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Range Discount Rate Used For Level Three Valuation | 4.00% | ' |
Range Capitalization Rate Used For Level Three Valuation | 5.40% | 4.80% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Long Lived Assets, Including Real Estate [Member] | Income Approach Valuation Techniques [Member] | Upper Limit [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Range Discount Rate Used For Level Three Valuation | 23.00% | ' |
Range Capitalization Rate Used For Level Three Valuation | 14.50% | 14.60% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Long Lived Assets, Including Real Estate [Member] | Income Approach Valuation Techniques [Member] | Weighted Average [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Range Discount Rate Used For Level Three Valuation | 9.00% | ' |
Range Capitalization Rate Used For Level Three Valuation | 7.80% | 7.30% |
Financial_Instruments_Details
Financial Instruments (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Financial Instruments [Line Items] | ' | ' |
Insurance - credit life | ($18,959) | ($20,427) |
Effect of including interest rate and currency derivatives on borrowings and bank deposits | 2,284 | 7,937 |
Reinsurance Recoverables | 1,250 | 2,000 |
Loan Commitments By Notional Amount [Line Items] | ' | ' |
Ordinary course of business lending commitments | 4,756 | 3,708 |
Excluded investment commitments | 1,395 | 1,276 |
Inventory financing arrangements excluded | 13,502 | 12,813 |
Commercial [Member] | ' | ' |
Loan Commitments By Notional Amount [Line Items] | ' | ' |
Unused revolving credit lines | 16,570 | 17,929 |
Commitments Associated with Secured Financing Arrangements | 11,629 | 12,923 |
Maximum Commitments Associated with Secured Financing Arrangements | 14,590 | 15,731 |
Consumer Principally Credit Cards [Member] | ' | ' |
Loan Commitments By Notional Amount [Line Items] | ' | ' |
Unused revolving credit lines | 290,662 | 271,211 |
Subsidiaries [Member] | Carrying amount (net) [Member] | ' | ' |
Financial Instruments [Line Items] | ' | ' |
Investments and notes receivable | 488 | 222 |
Borrowings | -13,356 | -17,469 |
Subsidiaries [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Financial Instruments [Line Items] | ' | ' |
Investments and notes receivable | 512 | 222 |
Borrowings | -13,707 | -18,619 |
Subsidiaries GECC [Member] | Loan Commitments By Notional Amount [Member] | ' | ' |
Financial Instruments [Line Items] | ' | ' |
Insurance - credit life | 2,149 | 2,277 |
Subsidiaries GECC [Member] | Carrying amount (net) [Member] | ' | ' |
Financial Instruments [Line Items] | ' | ' |
Loans | 226,293 | 235,888 |
Other commercial mortgages | 2,270 | 2,222 |
Loans held for sale | 512 | 1,180 |
Other financial instruments | 1,622 | 1,858 |
Borrowings and bank deposits | -371,062 | -397,039 |
Investment contract benefits | -3,144 | -3,321 |
Guaranteed investment contracts | -1,471 | -1,644 |
Insurance - credit life | -108 | -120 |
Subsidiaries GECC [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Financial Instruments [Line Items] | ' | ' |
Loans | 230,792 | 238,254 |
Other commercial mortgages | 2,281 | 2,249 |
Loans held for sale | 512 | 1,181 |
Other financial instruments | 2,203 | 2,276 |
Borrowings and bank deposits | -386,823 | -414,264 |
Investment contract benefits | -3,644 | -4,150 |
Guaranteed investment contracts | -1,459 | -1,674 |
Insurance - credit life | ($94) | ($104) |
Financial_Instruments_Securiti
Financial Instruments (Securities Repurchase and Reverse Repurchase Arrangements) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Financial Instruments [Line Items] | ' |
Securities Sold under Agreements to Repurchase | $0 |
Securities For Repurchase Agreements | 126,000,000 |
Reverse Repurchase Agreements Maturities | 90 |
Securities for Reverse Repurchase Agreements | 20,800,000,000 |
Off Book Financing [Member] | ' |
Financial Instruments [Line Items] | ' |
Securities Sold under Agreements to Repurchase | $0 |
Financial_Instruments_Derivati
Financial Instruments (Derivatives and hedging) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative, Notional Amount | $320,000 | ' |
Cumulative gain (loss) adjustment for non performance risk | -7 | -15 |
Excess Collateralization | 160 | 42 |
Excess Collateral Posted | 37 | 10 |
Excess Securities Collateral Held | 363 | 359 |
Netting Adjustment Including Collateral [Member] | Derivatives [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | -6,739 | -7,926 |
Derivative liabilities | -4,355 | -3,177 |
Recognized In Statement Of Financial Position [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 9,706 | 13,549 |
Derivative liabilities | 5,670 | 3,468 |
Netting Adjustment [Member] | Amounts Offset In Statement Of Financial Position [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | -4,120 | -2,801 |
Derivative liabilities | -4,113 | -2,786 |
Cash Collateral [Member] | Amounts Offset In Statement Of Financial Position [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | -2,619 | -5,125 |
Derivative liabilities | -242 | -391 |
Securities Pledged as Collateral [Member] | Not Offset In Statement Of Financial Position [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | -1,962 | -5,227 |
Derivative liabilities | 0 | 0 |
Derivatives Accounted For As Hedges [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 5,668 | 9,334 |
Derivative liabilities | 2,973 | 2,496 |
Derivatives Not Accounted For As Hedges [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 2,811 | 2,532 |
Derivative liabilities | 2,456 | 958 |
Derivatives Associated With Interest Rate, Currency Or Market Risk Reduction Or Elimination [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative, Notional Amount | 277,000 | ' |
Percentage Of Notional Amount That Is Associated With Reducing Or Eliminating Interest Rate, Currency, Or Market Risk | 87.00% | ' |
Gross Derivatives [Member] | Recognized In Statement Of Financial Position [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 8,479 | 11,866 |
Derivative liabilities | 5,429 | 3,454 |
Gross Accrued Interest [Member] | Recognized In Statement Of Financial Position [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 1,227 | 1,683 |
Derivative liabilities | 241 | 14 |
Net Derivative [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative asset, fair value | 1,005 | 396 |
Derivative liability, fair value | 1,315 | 291 |
Net Derivative [Member] | Recognized In Statement Of Financial Position [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 2,967 | 5,623 |
Derivative liabilities | 1,315 | 291 |
Interest Rate Contract [Member] | Derivatives Accounted For As Hedges [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 3,837 | 8,443 |
Derivative liabilities | 1,989 | 719 |
Interest Rate Contract [Member] | Derivatives Not Accounted For As Hedges [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 270 | 452 |
Derivative liabilities | 169 | 195 |
Foreign Exchange Contract [Member] | Derivatives Accounted For As Hedges [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 1,830 | 890 |
Derivative liabilities | 984 | 1,777 |
Foreign Exchange Contract [Member] | Derivatives Not Accounted For As Hedges [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 2,257 | 1,797 |
Derivative liabilities | 2,245 | 691 |
Other Contract [Member] | Derivatives Accounted For As Hedges [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 1 | 1 |
Derivative liabilities | 0 | 0 |
Other Contract [Member] | Derivatives Not Accounted For As Hedges [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 284 | 283 |
Derivative liabilities | $42 | $72 |
Financial_Instruments_Fair_val
Financial Instruments (Fair value hedges) (Details) (Fair Value Hedges [Member], USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Fair value hedges | ' | ' |
Hedge ineffectiveness gain (loss) | ($79) | ($303) |
Hedge amount excluded from assessment of effectiveness | 'insignificant amounts | 'insignificant amounts |
Interest Rate Contract [Member] | ' | ' |
Fair value hedges | ' | ' |
Gain (loss) on derivatives | -5,258 | 708 |
Gain (loss) on hedged items | 5,180 | -1,041 |
Foreign Exchange Contract [Member] | ' | ' |
Fair value hedges | ' | ' |
Gain (loss) on derivatives | -7 | -68 |
Gain (loss) on hedged items | $6 | $98 |
Financial_Instruments_Cash_flo
Financial Instruments (Cash flow hedges) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Cash Flow Hedge [Member] | ' | ' |
Summary Of Cash Flow Hedge Activity [Line Items] | ' | ' |
Gain (loss) recognized in AOCI | $909 | $852 |
Gain (loss) reclassified from AOCI into earnings | 448 | 177 |
Pre-tax gain (loss) included in AOCI related to cash flow hedges of forecasted transactions | 251 | ' |
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | -208 | ' |
Gain Loss Related To Hedge Forecasted Transactions And Firm Commitments That Did Not Occur By End Of Originally Specified Period | 'insignificant gains and losses | 'insignificant gains and losses |
Maximum term of hedged forecasted transactions | '19 | '20 |
Cash Flow Hedge [Member] | Interest Rate Contract [Member] | ' | ' |
Summary Of Cash Flow Hedge Activity [Line Items] | ' | ' |
Gain (loss) recognized in AOCI | -26 | -158 |
Gain (loss) reclassified from AOCI into earnings | -364 | -499 |
Cash Flow Hedge [Member] | Foreign Exchange Contract [Member] | ' | ' |
Summary Of Cash Flow Hedge Activity [Line Items] | ' | ' |
Gain (loss) recognized in AOCI | 941 | 1,004 |
Gain (loss) reclassified from AOCI into earnings | 817 | 681 |
Cash Flow Hedge [Member] | Commodity Contract [Member] | ' | ' |
Summary Of Cash Flow Hedge Activity [Line Items] | ' | ' |
Gain (loss) recognized in AOCI | -6 | 6 |
Gain (loss) reclassified from AOCI into earnings | -5 | -5 |
Net Investment Hedge [Member] | ' | ' |
Summary Of Cash Flow Hedge Activity [Line Items] | ' | ' |
Hedge ineffectiveness gain (loss) | -678 | -874 |
Net Investment Hedge [Member] | Foreign Exchange Contract [Member] | ' | ' |
Summary Of Cash Flow Hedge Activity [Line Items] | ' | ' |
Gain (loss) recognized in AOCI | 2,322 | -2,905 |
Gain (loss) reclassified from AOCI into earnings | -1,525 | 27 |
Fair Value Hedges [Member] | ' | ' |
Summary Of Cash Flow Hedge Activity [Line Items] | ' | ' |
Hedge ineffectiveness gain (loss) | -79 | -303 |
Subsidiaries GECC [Member] | Cash Flow Hedge [Member] | ' | ' |
Summary Of Cash Flow Hedge Activity [Line Items] | ' | ' |
Hedge ineffectiveness gain (loss) | $0 | $5 |
Financial_Instruments_Net_inve
Financial Instruments (Net investment hedges in foreign operations) (Details) (Net Investment Hedge [Member], USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Net investment hedges in foreign operation | ' | ' |
Hedge ineffectiveness gain (loss) | ($678) | ($874) |
Foreign Exchange Contract [Member] | ' | ' |
Net investment hedges in foreign operation | ' | ' |
Gain (loss) recognized in AOCI | 2,322 | -2,905 |
Gain (loss) reclassified from AOCI into earnings | ($1,525) | $27 |
Financial_Instruments_Freestan
Financial Instruments (Free-standing derivatives) (Details) (Free Standing Derivatives [Member], USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Free standing derivatives | ' | ' |
Gain (loss) on derivatives | ($449) | ($90) |
Interest Rate Contract [Member] | ' | ' |
Free standing derivatives | ' | ' |
Gain (loss) on derivatives | -111 | -296 |
Foreign Exchange Contract [Member] | ' | ' |
Free standing derivatives | ' | ' |
Gain (loss) on derivatives | -595 | 80 |
Other Contract [Member] | ' | ' |
Free standing derivatives | ' | ' |
Gain (loss) on derivatives | $257 | $126 |
Financial_Instruments_Counterp
Financial Instruments (Counterparty credit risk) (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Counterparty credit risk | ' |
Total Collateral | $4,581 |
Fair value of collateral posted to counterparties for derivative obligations | 242 |
Exposure To Counterparties Including Interest Net Collateral Excluding Derivatives | 871 |
Derivative Liability After Collateral And Outstanding Interest Payments Excluding Embedded Derivatives | 1,234 |
Cash [Member] | ' |
Counterparty credit risk | ' |
Total Collateral | 2,619 |
Securities Held By Third Parties [Member] | ' |
Counterparty credit risk | ' |
Securities Held as Collateral, at Fair Value | $1,962 |
Variable_Interest_Entities_Det
Variable Interest Entities (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets | $656,560 | [1] | ' | ' | ' | $684,999 | [1] | ' | ' | ' | $656,560 | [1] | $684,999 | [1] | $718,003 |
Liabilities | 519,777 | [1] | ' | ' | ' | 556,529 | [1] | ' | ' | ' | 519,777 | [1] | 556,529 | [1] | ' |
Total revenues of consolidated VIEs | ' | ' | ' | ' | ' | ' | ' | ' | 146,045 | 146,684 | 146,542 | ||||
Provision for Loan and Lease Losses | ' | ' | ' | ' | ' | ' | ' | ' | 4,818 | 3,832 | 3,930 | ||||
Interest And Other Financial Charges | ' | ' | ' | ' | ' | ' | ' | ' | 10,116 | 12,407 | 14,422 | ||||
Loans and Finance Receivables [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets VIE | 42,247 | ' | ' | ' | 40,916 | ' | ' | ' | 42,247 | 40,916 | ' | ||||
Investment Securities [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets VIE | 3,830 | ' | ' | ' | 4,486 | ' | ' | ' | 3,830 | 4,486 | ' | ||||
Assets Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets VIE | 3,220 | ' | ' | ' | 3,034 | ' | ' | ' | 3,220 | 3,034 | ' | ||||
Assets, Total [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets VIE | 49,297 | ' | ' | ' | 48,436 | ' | ' | ' | 49,297 | 48,436 | ' | ||||
Borrowings [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Liabilities VIE | 598 | ' | ' | ' | 711 | ' | ' | ' | 598 | 711 | ' | ||||
Nonrecourse Borrowings [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Liabilities VIE | 28,574 | ' | ' | ' | 29,123 | ' | ' | ' | 28,574 | 29,123 | ' | ||||
Liabilities Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Liabilities VIE | 3,334 | ' | ' | ' | 3,036 | ' | ' | ' | 3,334 | 3,036 | ' | ||||
Liabilities, Total [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Liabilities VIE | 32,506 | ' | ' | ' | 32,870 | ' | ' | ' | 32,506 | 32,870 | ' | ||||
Consolidated Variable Interest Entities [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Total revenues of consolidated VIEs | ' | ' | ' | ' | ' | ' | ' | ' | 7,540 | 7,127 | 6,326 | ||||
Provision for Loan and Lease Losses | ' | ' | ' | ' | ' | ' | ' | ' | 1,247 | 1,171 | 1,146 | ||||
Interest And Other Financial Charges | ' | ' | ' | ' | ' | ' | ' | ' | 355 | 541 | 594 | ||||
Power Generating Activities Entity [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets VIE | 762 | ' | ' | ' | ' | ' | ' | ' | 762 | ' | ' | ||||
Liabilities VIE | 0 | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ||||
Industrial Equipment Joint Venture [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets VIE | 1,539 | ' | ' | ' | ' | ' | ' | ' | 1,539 | ' | ' | ||||
Liabilities VIE | 727 | ' | ' | ' | ' | ' | ' | ' | 727 | ' | ' | ||||
Insurance Entities [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets VIE | 1,209 | ' | ' | ' | ' | ' | ' | ' | 1,209 | ' | ' | ||||
Liabilities VIE | 566 | ' | ' | ' | ' | ' | ' | ' | 566 | ' | ' | ||||
Trinity [Member] | Loans and Finance Receivables [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets VIE | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ||||
Trinity [Member] | Investment Securities [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets VIE | 2,786 | ' | ' | ' | 3,435 | ' | ' | ' | 2,786 | 3,435 | ' | ||||
Trinity [Member] | Assets Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets VIE | 213 | ' | ' | ' | 217 | ' | ' | ' | 213 | 217 | ' | ||||
Trinity [Member] | Assets, Total [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets VIE | 2,999 | ' | ' | ' | 3,652 | ' | ' | ' | 2,999 | 3,652 | ' | ||||
Trinity [Member] | Borrowings [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Liabilities VIE | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ||||
Trinity [Member] | Nonrecourse Borrowings [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Liabilities VIE | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ||||
Trinity [Member] | Liabilities Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Liabilities VIE | 1,482 | ' | ' | ' | 1,656 | ' | ' | ' | 1,482 | 1,656 | ' | ||||
Trinity [Member] | Liabilities, Total [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Liabilities VIE | 1,482 | ' | ' | ' | 1,656 | ' | ' | ' | 1,482 | 1,656 | ' | ||||
Trinity [Member] | Consolidated Variable Interest Entities [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Intercompany Advances Eliminated In Consolidation | 1,837 | ' | ' | ' | 2,441 | ' | ' | ' | 1,837 | 2,441 | ' | ||||
Consolidated Securitization Entities [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Commingled cash amounts owed to CSEs | 6,314 | ' | ' | ' | 6,225 | ' | ' | ' | 6,314 | 6,225 | ' | ||||
Commingled cash receivable from CSEs | 5,540 | ' | ' | ' | 6,143 | ' | ' | ' | 5,540 | 6,143 | ' | ||||
Other 1 [Member] | Loans and Finance Receivables [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets VIE | 2,044 | ' | ' | ' | 1,952 | ' | ' | ' | 2,044 | 1,952 | ' | ||||
Other 1 [Member] | Investment Securities [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets VIE | 1,044 | ' | ' | ' | 1,051 | ' | ' | ' | 1,044 | 1,051 | ' | ||||
Other 1 [Member] | Assets Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets VIE | 2,430 | ' | ' | ' | 2,428 | ' | ' | ' | 2,430 | 2,428 | ' | ||||
Other 1 [Member] | Assets, Total [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets VIE | 5,518 | ' | ' | ' | 5,431 | ' | ' | ' | 5,518 | 5,431 | ' | ||||
Other 1 [Member] | Borrowings [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Liabilities VIE | 598 | ' | ' | ' | 711 | ' | ' | ' | 598 | 711 | ' | ||||
Other 1 [Member] | Nonrecourse Borrowings [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Liabilities VIE | 49 | ' | ' | ' | 54 | ' | ' | ' | 49 | 54 | ' | ||||
Other 1 [Member] | Liabilities Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Liabilities VIE | 1,351 | ' | ' | ' | 1,215 | ' | ' | ' | 1,351 | 1,215 | ' | ||||
Other 1 [Member] | Liabilities, Total [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Liabilities VIE | 1,998 | ' | ' | ' | 1,980 | ' | ' | ' | 1,998 | 1,980 | ' | ||||
Credit Card Receivable [Member] | Consolidated Securitization Entities [Member] | Loans and Finance Receivables [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets VIE | 24,766 | ' | ' | ' | 24,169 | ' | ' | ' | 24,766 | 24,169 | ' | ||||
Credit Card Receivable [Member] | Consolidated Securitization Entities [Member] | Investment Securities [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets VIE | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ||||
Credit Card Receivable [Member] | Consolidated Securitization Entities [Member] | Assets Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets VIE | 20 | ' | ' | ' | 29 | ' | ' | ' | 20 | 29 | ' | ||||
Credit Card Receivable [Member] | Consolidated Securitization Entities [Member] | Assets, Total [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets VIE | 24,786 | ' | ' | ' | 24,198 | ' | ' | ' | 24,786 | 24,198 | ' | ||||
Credit Card Receivable [Member] | Consolidated Securitization Entities [Member] | Borrowings [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Liabilities VIE | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ||||
Credit Card Receivable [Member] | Consolidated Securitization Entities [Member] | Nonrecourse Borrowings [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Liabilities VIE | 15,363 | ' | ' | ' | 17,208 | ' | ' | ' | 15,363 | 17,208 | ' | ||||
Credit Card Receivable [Member] | Consolidated Securitization Entities [Member] | Liabilities Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Liabilities VIE | 228 | ' | ' | ' | 146 | ' | ' | ' | 228 | 146 | ' | ||||
Credit Card Receivable [Member] | Consolidated Securitization Entities [Member] | Liabilities, Total [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Liabilities VIE | 15,591 | ' | ' | ' | 17,354 | ' | ' | ' | 15,591 | 17,354 | ' | ||||
Equipment [Member] | Consolidated Securitization Entities [Member] | Loans and Finance Receivables [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets VIE | 12,928 | ' | ' | ' | 12,456 | ' | ' | ' | 12,928 | 12,456 | ' | ||||
Equipment [Member] | Consolidated Securitization Entities [Member] | Investment Securities [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets VIE | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ||||
Equipment [Member] | Consolidated Securitization Entities [Member] | Assets Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets VIE | 557 | ' | ' | ' | 360 | ' | ' | ' | 557 | 360 | ' | ||||
Equipment [Member] | Consolidated Securitization Entities [Member] | Assets, Total [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets VIE | 13,485 | ' | ' | ' | 12,816 | ' | ' | ' | 13,485 | 12,816 | ' | ||||
Equipment [Member] | Consolidated Securitization Entities [Member] | Borrowings [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Liabilities VIE | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ||||
Equipment [Member] | Consolidated Securitization Entities [Member] | Nonrecourse Borrowings [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Liabilities VIE | 10,982 | ' | ' | ' | 9,811 | ' | ' | ' | 10,982 | 9,811 | ' | ||||
Equipment [Member] | Consolidated Securitization Entities [Member] | Liabilities Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Liabilities VIE | 248 | ' | ' | ' | 11 | ' | ' | ' | 248 | 11 | ' | ||||
Equipment [Member] | Consolidated Securitization Entities [Member] | Liabilities, Total [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Liabilities VIE | 11,230 | ' | ' | ' | 9,822 | ' | ' | ' | 11,230 | 9,822 | ' | ||||
Trade Accounts Receivable [Member] | Consolidated Securitization Entities [Member] | Loans and Finance Receivables [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets VIE | 2,509 | ' | ' | ' | 2,339 | ' | ' | ' | 2,509 | 2,339 | ' | ||||
Trade Accounts Receivable [Member] | Consolidated Securitization Entities [Member] | Investment Securities [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets VIE | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ||||
Trade Accounts Receivable [Member] | Consolidated Securitization Entities [Member] | Assets Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets VIE | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ||||
Trade Accounts Receivable [Member] | Consolidated Securitization Entities [Member] | Assets, Total [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets VIE | 2,509 | ' | ' | ' | 2,339 | ' | ' | ' | 2,509 | 2,339 | ' | ||||
Trade Accounts Receivable [Member] | Consolidated Securitization Entities [Member] | Borrowings [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Liabilities VIE | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ||||
Trade Accounts Receivable [Member] | Consolidated Securitization Entities [Member] | Nonrecourse Borrowings [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Liabilities VIE | 2,180 | ' | ' | ' | 2,050 | ' | ' | ' | 2,180 | 2,050 | ' | ||||
Trade Accounts Receivable [Member] | Consolidated Securitization Entities [Member] | Liabilities Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Liabilities VIE | 25 | ' | ' | ' | 8 | ' | ' | ' | 25 | 8 | ' | ||||
Trade Accounts Receivable [Member] | Consolidated Securitization Entities [Member] | Liabilities, Total [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Liabilities VIE | 2,205 | ' | ' | ' | 2,058 | ' | ' | ' | 2,205 | 2,058 | ' | ||||
Subsidiaries GECC [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Assets | 512,043 | ' | ' | ' | 533,351 | ' | ' | ' | 512,043 | 533,351 | ' | ||||
Liabilities | 428,917 | ' | ' | ' | 450,754 | ' | ' | ' | 428,917 | 450,754 | ' | ||||
Total revenues of consolidated VIEs | 11,077 | 10,606 | 10,916 | 11,468 | 11,605 | 11,207 | 11,285 | 11,267 | 44,067 | 45,364 | 48,324 | ||||
Provision for Loan and Lease Losses | ' | ' | ' | ' | ' | ' | ' | ' | 4,818 | 3,832 | 3,930 | ||||
Interest And Other Financial Charges | ' | ' | ' | ' | ' | ' | ' | ' | $9,267 | $11,596 | $13,760 | ||||
[1] | (a)Â Â Â Â Â Â Â Â Our consolidated assets at December 31, 2013 include total assets of $47,367 million of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs. These assets include net financing receivables of $41,420 million and investment securities of $3,830 million. Our consolidated liabilities at December 31, 2013 include liabilities of certain VIEs for which the VIE creditors do not have recourse to GE. These liabilities include non-recourse borrowings of consolidated securitization entities (CSEs) of $28,574 million. See Note 23. |
Variable_Interest_Entities_Unc
Variable Interest Entities (Unconsolidated Variable Interest Entities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Variable Interest Entity [Line Items] | ' | ' |
Financing receivables | $241,940 | $257,238 |
Long-term Debt and Capital Lease Obligations | 221,665 | 236,084 |
Unconsolidated VIEs [Member] | ' | ' |
Variable Interest Entity [Line Items] | ' | ' |
Real Estate Investments, Net | 2,369 | ' |
Debt Investment Fund | 6,996 | ' |
Factored Receivables | 2,624 | ' |
PTL [Member] | ' | ' |
Variable Interest Entity [Line Items] | ' | ' |
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | 899 | ' |
Long-term Debt and Capital Lease Obligations | 700 | ' |
Total [Member] | Investment in Unconsolidated VIEs [Member] | ' | ' |
Variable Interest Entity [Line Items] | ' | ' |
Other assets and investment securities | 9,129 | 10,027 |
Financing receivables | 3,346 | 2,654 |
Total investment | 12,475 | 12,681 |
Contractual obligations to fund new investments or guarantees | 2,741 | 2,608 |
Revolving lines of credit | 31 | 41 |
Total | $15,247 | $15,330 |
Commitments_and_Guarantees_Det
Commitments and Guarantees (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Other Commitments [Abstract] | ' | ' | ' |
Financial assistance on future customer acquisitions | $2,669 | ' | ' |
Guarantees | ' | ' | ' |
Total credit support for certain customers | 2,775 | ' | ' |
Product Warranties | ' | ' | ' |
Standard Product Warranty Accrual, Beginning Balance | 1,383 | 1,507 | 1,405 |
Current-year provisions | 745 | 611 | 866 |
Expenditures | -814 | -723 | -881 |
Other changes | 10 | -12 | 117 |
Standard Product Warranty Accrual, Ending Balance | 1,324 | 1,383 | 1,507 |
Credit Support [Member] | ' | ' | ' |
Guarantees | ' | ' | ' |
Guarantees, Fair Value Disclosure | 36 | ' | ' |
Indemnification Agreement [Member] | ' | ' | ' |
Guarantees | ' | ' | ' |
Guarantees, Fair Value Disclosure | 21 | ' | ' |
Residual Value Guarantee [Member] | ' | ' | ' |
Guarantees | ' | ' | ' |
Guarantor Obligations, Maximum Exposure, Undiscounted | 125 | ' | ' |
Other Indemnification Commitments [Member] | ' | ' | ' |
Other Commitments [Abstract] | ' | ' | ' |
Financial assistance on future customer acquisitions | 1,009 | ' | ' |
Boeing Airbus And Other Aircraft [Member] | GE Capital Aviation Services [Member] | ' | ' | ' |
Other Commitments [Abstract] | ' | ' | ' |
Long-term purchase commitment | 29,405 | ' | ' |
Used Aircraft Order [Member] | GE Capital Aviation Services [Member] | ' | ' | ' |
Other Commitments [Abstract] | ' | ' | ' |
Long-term purchase commitment | $816 | ' | ' |
Supplemental_Cash_Flows_Inform2
Supplemental Cash Flows Information (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Supplemental Cash Flow Information [Line Items] | ' | ' | ' | |||
Net dispositions (purchases) of shares for treasury | ($9,278) | ($4,164) | ($1,456) | |||
All other operating activities | ' | ' | ' | |||
Amortization expense | 1,711 | 1,612 | 1,744 | |||
All other operating activities | 2,175 | 8,029 | 7,057 | |||
Net decrease (increase) in GECC financing receivables | ' | ' | ' | |||
Net decrease (increase) in GECC financing receivables | 2,715 | 6,979 | 14,785 | |||
All other investing activities | ' | ' | ' | |||
All other investing activities | 14,625 | 11,157 | 6,527 | |||
Newly issued debt (maturities longer than 90 days) | ' | ' | ' | |||
Newly issued debt (maturities longer than 90 days) | 45,392 | 63,019 | 43,847 | |||
All other financing activities | ' | ' | ' | |||
All other financing activities | -1,418 | -2,958 | -1,867 | |||
Open Market Purchases [Member] | ' | ' | ' | |||
Supplemental Cash Flow Information [Line Items] | ' | ' | ' | |||
Net dispositions (purchases) of shares for treasury | -10,225 | -5,005 | -2,065 | |||
Other Purchases [Member] | ' | ' | ' | |||
Supplemental Cash Flow Information [Line Items] | ' | ' | ' | |||
Net dispositions (purchases) of shares for treasury | -91 | -110 | -100 | |||
Dispositions [Member] | ' | ' | ' | |||
Supplemental Cash Flow Information [Line Items] | ' | ' | ' | |||
Net dispositions (purchases) of shares for treasury | 1,038 | 951 | 709 | |||
Subsidiaries [Member] | ' | ' | ' | |||
Supplemental Cash Flow Information [Line Items] | ' | ' | ' | |||
Net dispositions (purchases) of shares for treasury | -9,278 | [1] | -4,164 | [1] | -1,456 | [1] |
All other operating activities | ' | ' | ' | |||
All other operating activities | 1,528 | [1] | 2,985 | [1] | 3,350 | [1] |
Net decrease (increase) in GECC financing receivables | ' | ' | ' | |||
Net decrease (increase) in GECC financing receivables | 0 | [1] | 0 | [1] | 0 | [1] |
All other investing activities | ' | ' | ' | |||
All other investing activities | -1,488 | [1] | -564 | [1] | -384 | [1] |
Newly issued debt (maturities longer than 90 days) | ' | ' | ' | |||
Newly issued debt (maturities longer than 90 days) | 512 | [1] | 6,961 | [1] | 177 | [1] |
All other financing activities | ' | ' | ' | |||
All other financing activities | -211 | [1] | 32 | [1] | -75 | [1] |
Subsidiaries GECC [Member] | ' | ' | ' | |||
Supplemental Cash Flow Information [Line Items] | ' | ' | ' | |||
Non-cash Transactions Foreclosed Properties And Repossessed Assets | 482 | 839 | 859 | |||
Net dispositions (purchases) of shares for treasury | 0 | 0 | 0 | |||
All other operating activities | ' | ' | ' | |||
Amortization expense | 425 | 447 | 562 | |||
Realized losses on investment securities | 523 | 34 | 197 | |||
Cash collateral on derivative contracts | -2,271 | 2,900 | 1,247 | |||
Change in other liabilities | 2,334 | 560 | -1,344 | |||
Other | -912 | 1,477 | 2,465 | |||
All other operating activities | 99 | 5,418 | 3,127 | |||
Net decrease (increase) in GECC financing receivables | ' | ' | ' | |||
Increase in loans to customers | -311,860 | -308,156 | -322,270 | |||
Principal collections from customers - loans | 307,849 | 307,250 | 332,100 | |||
Investment in equipment for financing leases | -8,652 | -9,192 | -9,610 | |||
Principal collections from customers - financing leases | 9,646 | 10,976 | 12,431 | |||
Net change in credit card receivables | -8,058 | -8,030 | -6,243 | |||
Sales of financing receivables | 14,664 | 12,642 | 8,117 | |||
Net decrease (increase) in GECC financing receivables | 3,589 | 5,490 | 14,525 | |||
Proceeds from Sale of Real Estate | 10,680 | 3,381 | 3,152 | |||
All other investing activities | ' | ' | ' | |||
Purchases of investment securities | -16,422 | -15,666 | -20,816 | |||
Dispositions and maturities of investment securities | 18,139 | 17,010 | 19,535 | |||
Other assets - investments | 1,089 | 4,338 | 2,672 | |||
Other | 1,486 | 2,731 | 3,190 | |||
All other investing activities | 14,972 | 11,794 | 7,733 | |||
Newly issued debt (maturities longer than 90 days) | ' | ' | ' | |||
Newly issued debt short-term (91 to 365 days) | 55 | 59 | 10 | |||
Newly issued debt long-term (longer than one year) | 44,833 | 55,782 | 43,257 | |||
Newly issued debt (maturities longer than 90 days) | 44,888 | 55,841 | 43,267 | |||
Repayments and other reductions (maturities longer than 90 days) | ' | ' | ' | |||
Repayments and other reductions of Short-term (91 to 365 days) | -52,553 | -94,114 | -81,918 | |||
Repayments and other reductions of Long-term (longer than one year) | -3,291 | -9,368 | -2,786 | |||
Principal payments - nonrecourse, leveraged lease | -585 | -426 | -732 | |||
Repayments and other reductions (maturities longer than 90 days) | -56,429 | -103,908 | -85,436 | |||
All other financing activities | ' | ' | ' | |||
Proceeds from sales of investment contracts | 491 | 2,697 | 4,396 | |||
Redemption of investment contracts | -980 | -5,515 | -6,230 | |||
Other | -420 | -49 | 42 | |||
All other financing activities | ($909) | ($2,867) | ($1,792) | |||
[1] | (a)Â Â Â Â Â Â Â Â 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. |
Intercompany_Transactions_Deta
Intercompany Transactions (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Intercompany Transactions [Line Items] | ' | ' | ' |
Net Cash Provided by (Used in) Operating Activities | $28,579 | $31,331 | $33,359 |
Net Cash Provided by (Used in) Investing Activities | 29,117 | 11,302 | 19,882 |
Net Cash Provided by (Used in) Financing Activities | -45,573 | -51,074 | -46,863 |
Intercompany Table [Abstract] | ' | ' | ' |
Combined-continuing operations (operating) | 34,125 | 39,557 | 32,669 |
Net Increase Decrease In Parent Customer Receivables Sold To Finance Subsidiary That Have Been Eliminated From Consolidated Cash From Operating Activities | 360 | -1,809 | -577 |
Dividends from GECC to GE | -5,985 | -6,426 | 0 |
Eliminations of other reclassifications and eliminations from consolidated cash from operating activities | 537 | -307 | 19 |
Net Cash Provided by (Used in) Operating Activities, Continuing Operations | 29,037 | 31,015 | 32,111 |
Combined-continuing operations (investing) | 28,182 | 9,262 | 21,540 |
Net Increase Decrease In Parent Customer Receivables Sold To Finance Subsidiary That Have Been Eliminated From Consolidated Cash From Investing Activities | 262 | 2,005 | 421 |
Eliminations of other reclassifications and eliminations from consolidated cash from investing activities | 230 | 323 | -794 |
Net Cash Provided by (Used in) Investing Activities, Continuing Operations | 28,674 | 11,590 | 21,167 |
Combined-continuing operations (financing) | -50,319 | -57,758 | -47,818 |
Net Increase Decrease In Parent Customer Receivables Sold To Finance Subsidiary That Have Been Eliminated From Consolidated Cash From Financing Activities | -622 | -196 | 156 |
Dividends from GECC to GE | 5,985 | 6,426 | 0 |
Eliminations of other reclassifications and eliminations from consolidated cash from financing activities | -673 | 473 | 747 |
Net Cash Provided by (Used in) Financing Activities, Continuing Operations | -45,629 | -51,055 | -46,915 |
Consolidation, Eliminations [Member] | ' | ' | ' |
Intercompany Transactions [Line Items] | ' | ' | ' |
Net Cash Provided by (Used in) Operating Activities | -5,088 | -8,542 | -558 |
Net Cash Provided by (Used in) Investing Activities | 492 | 2,328 | -373 |
Net Cash Provided by (Used in) Financing Activities | $4,690 | $6,703 | $903 |
Operating_Segments_Details
Operating Segments (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | $146,045 | $146,684 | $146,542 | |||
Additional information | ' | ' | ' | |||
Assets | 656,560 | [1] | 684,999 | [1] | 718,003 | |
Property, Plant and Equipment, Additions | 14,389 | 15,375 | 13,553 | |||
Depreciation and amortization | 11,473 | 10,804 | 10,730 | |||
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | 16,151 | 17,381 | 20,159 | |||
Liabilities | 519,777 | [1] | 556,529 | [1] | ' | |
Other information | ' | ' | ' | |||
Interest and other financial charges | 10,116 | 12,407 | 14,422 | |||
Provision for income taxes | 676 | 2,534 | 5,745 | |||
Property, plant and equipment - net | 68,827 | 68,633 | ' | |||
Intersegment[Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 0 | 0 | 0 | |||
External [Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 146,045 | 146,684 | 146,542 | |||
Domestic Tax Authority [Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 68,617 | 70,466 | 69,910 | |||
Other information | ' | ' | ' | |||
Property, plant and equipment - net | 28,657 | 27,192 | 25,974 | |||
Foreign Tax Authority [Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 77,428 | 76,218 | 76,632 | |||
Other information | ' | ' | ' | |||
Property, plant and equipment - net | 40,170 | 41,441 | 38,573 | |||
Power And Water [Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 24,724 | 28,299 | 25,675 | |||
Additional information | ' | ' | ' | |||
Assets | 29,526 | 27,174 | 27,074 | |||
Property, Plant and Equipment, Additions | 714 | 661 | 770 | |||
Depreciation and amortization | 668 | 647 | 605 | |||
Investments in and Advances to Affiliates, Balance, Principal Amount | 507 | ' | ' | |||
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | -26 | ' | ' | |||
Power And Water [Member] | Intersegment[Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 947 | 1,119 | 794 | |||
Power And Water [Member] | External [Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 23,777 | 27,180 | 24,881 | |||
Oil And Gas [Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 16,975 | 15,241 | 13,608 | |||
Additional information | ' | ' | ' | |||
Assets | 26,181 | 20,099 | 18,855 | |||
Property, Plant and Equipment, Additions | 1,185 | 467 | 904 | |||
Depreciation and amortization | 479 | 426 | 434 | |||
Investments in and Advances to Affiliates, Balance, Principal Amount | 108 | ' | ' | |||
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | 18 | ' | ' | |||
Oil And Gas [Member] | Intersegment[Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 360 | 314 | 302 | |||
Oil And Gas [Member] | External [Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 16,615 | 14,927 | 13,306 | |||
Energy Management [Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 7,569 | 7,412 | 6,422 | |||
Additional information | ' | ' | ' | |||
Assets | 9,962 | 9,253 | 9,835 | |||
Property, Plant and Equipment, Additions | 137 | 155 | 414 | |||
Depreciation and amortization | 323 | 287 | 239 | |||
Investments in and Advances to Affiliates, Balance, Principal Amount | 788 | ' | ' | |||
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | 3 | ' | ' | |||
Energy Management [Member] | Intersegment[Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 848 | 487 | 504 | |||
Energy Management [Member] | External [Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 6,721 | 6,925 | 5,918 | |||
Aviation [Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 21,911 | 19,994 | 18,859 | |||
Additional information | ' | ' | ' | |||
Assets | 32,272 | 25,144 | 23,567 | |||
Property, Plant and Equipment, Additions | 1,178 | 781 | 699 | |||
Depreciation and amortization | 677 | 644 | 569 | |||
Investments in and Advances to Affiliates, Balance, Principal Amount | 1,463 | ' | ' | |||
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | 4 | ' | ' | |||
Aviation [Member] | Intersegment[Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 500 | 672 | 417 | |||
Aviation [Member] | External [Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 21,411 | 19,322 | 18,442 | |||
Healthcare [Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 18,200 | 18,290 | 18,083 | |||
Additional information | ' | ' | ' | |||
Assets | 27,956 | 28,458 | 27,981 | |||
Property, Plant and Equipment, Additions | 316 | 322 | 378 | |||
Depreciation and amortization | 861 | 879 | 869 | |||
Investments in and Advances to Affiliates, Balance, Principal Amount | 576 | ' | ' | |||
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | -48 | ' | ' | |||
Healthcare [Member] | Intersegment[Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 14 | 37 | 65 | |||
Healthcare [Member] | External [Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 18,186 | 18,253 | 18,018 | |||
Transportation [Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 5,885 | 5,608 | 4,885 | |||
Additional information | ' | ' | ' | |||
Assets | 4,472 | 4,389 | 2,633 | |||
Property, Plant and Equipment, Additions | 282 | 724 | 193 | |||
Depreciation and amortization | 167 | 90 | 88 | |||
Investments in and Advances to Affiliates, Balance, Principal Amount | 10 | ' | ' | |||
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | 0 | ' | ' | |||
Transportation [Member] | Intersegment[Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 12 | 11 | 33 | |||
Transportation [Member] | External [Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 5,873 | 5,597 | 4,852 | |||
Appliances And Lighting [Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 8,338 | 7,967 | 7,693 | |||
Additional information | ' | ' | ' | |||
Assets | 4,237 | 4,133 | 3,675 | |||
Property, Plant and Equipment, Additions | 405 | 485 | 268 | |||
Depreciation and amortization | 300 | 265 | 260 | |||
Investments in and Advances to Affiliates, Balance, Principal Amount | 388 | ' | ' | |||
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | 40 | ' | ' | |||
Appliances And Lighting [Member] | Intersegment[Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 25 | 23 | 22 | |||
Appliances And Lighting [Member] | External [Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 8,313 | 7,944 | 7,671 | |||
GE Capital [Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 44,067 | 45,364 | 48,324 | |||
Additional information | ' | ' | ' | |||
Assets | 516,829 | 539,351 | 584,643 | |||
Property, Plant and Equipment, Additions | 9,978 | 11,879 | 9,871 | |||
Depreciation and amortization | 7,738 | 7,348 | 7,480 | |||
Investments in and Advances to Affiliates, Balance, Principal Amount | 17,348 | ' | ' | |||
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | 1,809 | ' | ' | |||
Other information | ' | ' | ' | |||
Interest and other financial charges | 9,267 | 11,596 | 13,760 | |||
Provision for income taxes | -992 | 521 | 906 | |||
GE Capital [Member] | Intersegment[Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 1,150 | 1,037 | 977 | |||
GE Capital [Member] | External [Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 42,917 | 44,327 | 47,347 | |||
Industrial Segments [Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 103,602 | 102,811 | 95,225 | |||
Industrial Segments [Member] | Intersegment[Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 2,706 | 2,663 | 2,137 | |||
Industrial Segments [Member] | External [Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 100,896 | 100,148 | 93,088 | |||
Corporate Items And Eliminations [Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | -1,624 | -1,491 | 2,993 | |||
Additional information | ' | ' | ' | |||
Assets | 5,125 | 26,998 | 19,740 | |||
Property, Plant and Equipment, Additions | 194 | -99 | 56 | |||
Depreciation and amortization | 260 | 218 | 186 | |||
Other information | ' | ' | ' | |||
Interest and other financial charges | 849 | 811 | 662 | |||
Provision for income taxes | 1,668 | 2,013 | 4,839 | |||
Corporate Items And Eliminations [Member] | Intersegment[Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | -3,856 | -3,700 | -3,114 | |||
Corporate Items And Eliminations [Member] | External [Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 2,232 | 2,209 | 6,107 | |||
Significant Associated Companies [Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 22,692 | ' | ' | |||
Additional information | ' | ' | ' | |||
Primarily financing receivables | 46,655 | ' | ' | |||
Liabilities | 66,535 | ' | ' | |||
Debt, Long-term and Short-term, Combined Amount | 40,030 | ' | ' | |||
Segment profit | 2,431 | ' | ' | |||
Significant Associated Companies [Member] | Assets, Total [Member] | ' | ' | ' | |||
Additional information | ' | ' | ' | |||
Assets | 98,658 | ' | ' | |||
Subsidiaries [Member] | ' | ' | ' | |||
Segment Reporting Information | ' | ' | ' | |||
Consolidated revenues | 112,158 | [2] | 110,877 | [2] | 106,783 | [2] |
Additional information | ' | ' | ' | |||
Assets | 230,962 | [2] | 236,447 | [2] | ' | |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | 17,090 | [2] | 16,797 | [2] | 19,126 | [2] |
Liabilities | 99,560 | [2] | 112,644 | [2] | ' | |
Other information | ' | ' | ' | |||
Interest and other financial charges | 1,333 | [2] | 1,353 | [2] | 1,299 | [2] |
Provision for income taxes | 1,668 | [2] | 2,013 | [2] | 4,839 | [2] |
Property, plant and equipment - net | $17,574 | [2] | $16,033 | [2] | ' | |
[1] | (a)Â Â Â Â Â Â Â Â Our consolidated assets at December 31, 2013 include total assets of $47,367 million of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs. These assets include net financing receivables of $41,420 million and investment securities of $3,830 million. Our consolidated liabilities at December 31, 2013 include liabilities of certain VIEs for which the VIE creditors do not have recourse to GE. These liabilities include non-recourse borrowings of consolidated securitization entities (CSEs) of $28,574 million. See Note 23. | |||||
[2] | (a)Â Â Â Â Â Â Â Â 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. |
Quarterly_Information_unaudite2
Quarterly Information (unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Consolidated Operations [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Earnings from continuing operations | $5,149 | $3,272 | $3,423 | $3,631 | $4,449 | $3,460 | $3,681 | $3,257 | $15,475 | $14,847 | $14,414 | |||
Losses from discontinued operations, net of tax | -1,785 | -91 | -124 | -120 | -303 | 48 | -543 | -185 | -2,120 | -983 | 29 | |||
Net earnings | 3,364 | 3,181 | 3,299 | 3,511 | 4,146 | 3,508 | 3,138 | 3,072 | 13,355 | 13,864 | 14,443 | |||
Less: net earnings (loss) attributable to noncontrolling interests | 158 | -10 | 166 | -16 | 135 | 17 | 33 | 38 | 298 | 223 | 292 | |||
Consolidated net earnings attributable to the Company | 3,206 | 3,191 | 3,133 | 3,527 | 4,011 | 3,491 | 3,105 | 3,034 | 13,057 | 13,641 | 14,151 | |||
Preferred stock dividends declared | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -1,031 | |||
Net earnings attributable to GE common shareowners | ' | ' | ' | ' | ' | ' | ' | ' | 13,057 | 13,641 | 13,120 | |||
Per-share amounts - earnings (loss) from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Diluted earnings per share | $0.49 | $0.32 | $0.31 | $0.35 | $0.41 | $0.33 | $0.34 | $0.30 | $1.47 | $1.38 | $1.23 | |||
Basic earnings per share | $0.49 | $0.32 | $0.32 | $0.35 | $0.41 | $0.33 | $0.34 | $0.30 | $1.48 | $1.39 | $1.23 | |||
Per-share amounts - earnings (loss) from discontinued operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Diluted earnings per share | ($0.18) | ($0.01) | ($0.01) | ($0.01) | ($0.03) | $0 | ($0.05) | ($0.02) | ($0.21) | ($0.09) | $0 | |||
Basic earnings per share | ($0.18) | ($0.01) | ($0.01) | ($0.01) | ($0.03) | $0 | ($0.05) | ($0.02) | ($0.21) | ($0.09) | $0 | |||
Per-share amounts - net earnings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Diluted earnings per share | $0.32 | $0.31 | $0.30 | $0.34 | $0.38 | $0.33 | $0.29 | $0.29 | $1.27 | $1.29 | $1.23 | |||
Basic earnings per share | $0.32 | $0.31 | $0.30 | $0.34 | $0.38 | $0.33 | $0.29 | $0.29 | $1.28 | $1.29 | $1.24 | |||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 146,045 | 146,684 | 146,542 | |||
Earnings (loss) from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | 15,177 | 14,624 | 14,122 | |||
Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Consolidated Operations [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Earnings from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | 15,422 | [1] | 14,784 | [1] | 14,287 | [1] |
Losses from discontinued operations, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | -2,120 | [1] | -983 | [1] | 29 | [1] |
Net earnings | ' | ' | ' | ' | ' | ' | ' | ' | 13,302 | [1] | 13,801 | [1] | 14,316 | [1] |
Less: net earnings (loss) attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 245 | [1] | 160 | [1] | 165 | [1] |
Consolidated net earnings attributable to the Company | ' | ' | ' | ' | ' | ' | ' | ' | 13,057 | [1] | 13,641 | [1] | 14,151 | [1] |
Preferred stock dividends declared | ' | ' | ' | ' | ' | ' | ' | ' | 0 | [1] | 0 | [1] | -1,031 | [1] |
Net earnings attributable to GE common shareowners | ' | ' | ' | ' | ' | ' | ' | ' | 13,057 | [1] | 13,641 | [1] | 13,120 | [1] |
Per-share amounts - net earnings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Sales of goods and services | 28,826 | 25,262 | 24,623 | 22,303 | 27,301 | 24,749 | 25,138 | 23,687 | ' | ' | ' | |||
Gross profit from sales | 6,819 | 5,691 | 6,007 | 4,867 | 8,341 | 6,025 | 5,800 | 5,653 | ' | ' | ' | |||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 112,158 | [1] | 110,877 | [1] | 106,783 | [1] |
Earnings (loss) from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | 15,177 | [1] | 14,624 | [1] | 14,122 | [1] |
Subsidiaries GECC [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Consolidated Operations [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Earnings from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | 8,311 | 7,408 | 6,607 | |||
Losses from discontinued operations, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | -2,054 | -1,130 | 30 | |||
Net earnings | ' | ' | ' | ' | ' | ' | ' | ' | 6,257 | 6,278 | 6,637 | |||
Less: net earnings (loss) attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 53 | 63 | 127 | |||
Consolidated net earnings attributable to the Company | ' | ' | ' | ' | ' | ' | ' | ' | 6,204 | 6,215 | 6,510 | |||
Preferred stock dividends declared | ' | ' | ' | ' | ' | ' | ' | ' | -298 | -123 | 0 | |||
Net earnings attributable to GE common shareowners | ' | ' | ' | ' | ' | ' | ' | ' | 5,906 | 6,092 | 6,510 | |||
Per-share amounts - net earnings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues | 11,077 | 10,606 | 10,916 | 11,468 | 11,605 | 11,207 | 11,285 | 11,267 | 44,067 | 45,364 | 48,324 | |||
Earnings (loss) from continuing operations | $2,493 | $1,903 | $1,924 | $1,938 | $1,805 | $1,668 | $2,112 | $1,760 | $8,258 | $7,345 | $6,480 | |||
[1] | (a)Â Â Â Â Â Â Â Â 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. |