Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended |
Mar. 31, 2014 | |
Document and Entity Information [Abstract] | ' |
Document Type | '10-Q |
Document Period End Date | 31-Mar-14 |
Amendment Flag | 'false |
Document Fiscal Period Focus | 'Q1 |
Document Fiscal Year Focus | '2014 |
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 | 10,027,765,000 |
Condensed_Statement_of_Earning
Condensed Statement of Earnings (Unaudited) (USD $) | 3 Months Ended | |||
In Millions, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | ||
Revenues and other income | ' | ' | ||
Sales of goods | $16,941 | $15,674 | ||
Sales of services | 6,909 | 6,513 | ||
Other income | 196 | 1,615 | ||
GECC earnings from continuing operations | 0 | 0 | ||
GECC revenues from services | 10,132 | 11,141 | ||
Total revenues and other income | 34,178 | 34,943 | ||
Costs and expenses | ' | ' | ||
Cost of goods sold | 13,713 | 12,866 | ||
Cost of services sold | 4,809 | 4,449 | ||
Interest and other financial charges | 2,414 | 2,603 | ||
Investment contracts, insurance losses and insurance annuity benefits | 620 | 663 | ||
Provision for losses on financing receivables | 970 | 1,457 | ||
Other costs and expenses | 8,196 | 8,766 | ||
Total costs and expenses | 30,722 | 30,804 | ||
Earnings (loss) from continuing operations before income taxes | 3,456 | 4,139 | ||
Benefit (provision) for income taxes | -516 | -508 | ||
Earnings from continuing operations | 2,940 | 3,631 | ||
Earnings (loss) from discontinued operations, net of taxes | 12 | -120 | ||
Net earnings (loss) | 2,952 | 3,511 | ||
Less net earnings (loss) attributable to noncontrolling interests | -47 | -16 | ||
Net earnings (loss) attributable to the Company | 2,999 | 3,527 | ||
Amounts attributable to the Company | ' | ' | ||
Earnings (loss) from continuing operations | 2,987 | 3,647 | ||
Earnings (loss) from discontinued operations, net of taxes | 12 | -120 | ||
Net earnings (loss) attributable to the Company | 2,999 | 3,527 | ||
Earnings from continuing operations | ' | ' | ||
Diluted earnings per share | $0.29 | $0.35 | ||
Basic earnings per share | $0.30 | $0.35 | ||
Net earnings (loss) | ' | ' | ||
Diluted earnings per share | $0.30 | $0.34 | ||
Basic earnings per share | $0.30 | $0.34 | ||
Dividends declared per common share | $0.22 | $0.19 | ||
Subsidiaries [Member] | ' | ' | ||
Revenues and other income | ' | ' | ||
Sales of goods | 16,988 | [1] | 15,677 | [1] |
Sales of services | 7,023 | [1] | 6,626 | [1] |
Other income | 161 | [1] | 1,620 | [1] |
GECC earnings from continuing operations | 1,933 | [1] | 1,938 | [1] |
GECC revenues from services | 0 | [1] | 0 | [1] |
Total revenues and other income | 26,105 | [1] | 25,861 | [1] |
Costs and expenses | ' | ' | ||
Cost of goods sold | 13,762 | [1] | 12,874 | [1] |
Cost of services sold | 4,923 | [1] | 4,562 | [1] |
Interest and other financial charges | 365 | [1] | 324 | [1] |
Investment contracts, insurance losses and insurance annuity benefits | 0 | [1] | 0 | [1] |
Provision for losses on financing receivables | 0 | [1] | 0 | [1] |
Other costs and expenses | 3,808 | [1] | 4,057 | [1] |
Total costs and expenses | 22,858 | [1] | 21,817 | [1] |
Earnings (loss) from continuing operations before income taxes | 3,247 | [1] | 4,044 | [1] |
Benefit (provision) for income taxes | -318 | [1] | -424 | [1] |
Earnings from continuing operations | 2,929 | [1] | 3,620 | [1] |
Earnings (loss) from discontinued operations, net of taxes | 12 | [1] | -120 | [1] |
Net earnings (loss) | 2,941 | [1] | 3,500 | [1] |
Less net earnings (loss) attributable to noncontrolling interests | -58 | [1] | -27 | [1] |
Net earnings (loss) attributable to the Company | 2,999 | [1] | 3,527 | [1] |
Amounts attributable to the Company | ' | ' | ||
Earnings (loss) from continuing operations | 2,987 | [1] | 3,647 | [1] |
Earnings (loss) from discontinued operations, net of taxes | 12 | [1] | -120 | [1] |
Net earnings (loss) attributable to the Company | 2,999 | [1] | 3,527 | [1] |
Subsidiaries GECC [Member] | ' | ' | ||
Revenues and other income | ' | ' | ||
Sales of goods | 27 | 26 | ||
Sales of services | 0 | 0 | ||
Other income | 0 | 0 | ||
GECC earnings from continuing operations | 0 | 0 | ||
GECC revenues from services | 10,488 | 11,442 | ||
Total revenues and other income | 10,515 | 11,468 | ||
Costs and expenses | ' | ' | ||
Cost of goods sold | 25 | 21 | ||
Cost of services sold | 0 | 0 | ||
Interest and other financial charges | 2,161 | 2,382 | ||
Investment contracts, insurance losses and insurance annuity benefits | 643 | 689 | ||
Provision for losses on financing receivables | 970 | 1,457 | ||
Other costs and expenses | 4,574 | 4,886 | ||
Total costs and expenses | 8,373 | 9,435 | ||
Earnings (loss) from continuing operations before income taxes | 2,142 | 2,033 | ||
Benefit (provision) for income taxes | -198 | -84 | ||
Earnings from continuing operations | 1,944 | 1,949 | ||
Earnings (loss) from discontinued operations, net of taxes | 12 | -120 | ||
Net earnings (loss) | 1,956 | 1,829 | ||
Less net earnings (loss) attributable to noncontrolling interests | 11 | 11 | ||
Net earnings (loss) attributable to the Company | 1,945 | 1,818 | ||
Amounts attributable to the Company | ' | ' | ||
Earnings (loss) from continuing operations | 1,933 | 1,938 | ||
Earnings (loss) from discontinued operations, net of taxes | 12 | -120 | ||
Net earnings (loss) attributable to the Company | $1,945 | $1,818 | ||
[1] | Represents the adding together of all affiliated companies except General Electric Capital Corporation (GECC or Financial Services), which is presented on a one-line basis. |
Condensed_Consolidated_Stateme
Condensed Consolidated Statement of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Statement of Comprehensive Income [Abstract] | ' | ' |
Net earnings | $2,952 | $3,511 |
Less net earnings (loss) attributable to noncontrolling interests | -47 | -16 |
Net earnings (loss) attributable to the Company | 2,999 | 3,527 |
Other comprehensive income | ' | ' |
Investment securities | 457 | 68 |
Currency translation adjustments | 49 | -459 |
Cash flow hedges | 68 | 102 |
Benefit plans | 695 | 853 |
Other comprehensive income | 1,269 | 564 |
Less: Other comprehensive income (loss) attributable to noncontrolling interests | -2 | -2 |
Other comprehensive income attributable to Company | 1,271 | 566 |
Comprehensive income | 4,221 | 4,075 |
Less: Comprehensive income (loss) attributable to noncontrolling interests | -49 | -18 |
Comprehensive income attributable to Company | $4,270 | $4,093 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statement of Changes in Shareowners' Equity (Unaudited) (USD $) | 3 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | |
Statement Of Changes In Shareowners Equity [Abstract] | ' | ' | |
GE shareowners' equity balance at January 1 | $130,566 | $123,026 | |
Net earnings (loss) attributable to the Company | 2,999 | 3,527 | |
Dividends and other transactions with shareowners | -2,210 | -1,974 | |
Other comprehensive income attributable to Company | 1,271 | 566 | |
Net sales (purchases) of shares for treasury | -840 | -1,422 | |
Changes in other capital | 50 | -9 | |
Ending balance at March 31 | 131,836 | 123,714 | |
Noncontrolling interests | 6,183 | [1] | 5,336 |
Total equity balance at March 31 | $138,019 | $129,050 | |
[1] | Included AOCI attributable to noncontrolling interests of $(180) million at both March 31, 2014 and December 31, 2013. |
Condensed_Statement_of_Financi
Condensed Statement of Financial Position (Unaudited) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | ||
In Millions, unless otherwise specified | ||||
Assets | ' | ' | ||
Cash and equivalents | $86,979 | $88,555 | ||
Investment securities | 45,733 | 43,981 | ||
Current receivables | 20,975 | 21,388 | ||
Inventories | 18,881 | 17,325 | ||
Financing receivables - net | 237,005 | 241,940 | ||
Other GECC receivables | 9,009 | 9,114 | ||
Property, plant and equipment - net | 67,743 | 68,827 | ||
Investment in GECC | 0 | 0 | ||
Goodwill | 79,129 | 77,648 | ||
Other intangible assets - net | 14,788 | 14,310 | ||
All other assets | 70,504 | 70,808 | ||
Assets of businesses held for sale | 48 | 50 | ||
Assets of discontinued operations | 1,458 | 2,339 | ||
Total assets(b) | 652,252 | [1] | 656,285 | [1] |
Liabilities and equity | ' | ' | ||
Short-term borrowings | 76,121 | 77,890 | ||
Accounts payable, principally trade accounts | 17,206 | 16,471 | ||
Progress collections and price adjustments accrued | 12,804 | 13,125 | ||
Dividends payable | 2,206 | 2,220 | ||
Other GE current liabilities | 13,622 | 13,381 | ||
Non-recourse borrowings of consolidated securitization entities | 28,724 | 30,124 | ||
Bank deposits | 54,743 | 53,361 | ||
Long-term borrowings | 220,992 | 221,665 | ||
Investment contracts, insurance liabilities and insurance annuity benefits | 27,019 | 26,544 | ||
All other liabilities | 59,147 | 61,057 | ||
Deferred income taxes | 381 | -275 | ||
Liabilities of businesses held for sale | 2 | 6 | ||
Liabilities of discontinued operations | 1,266 | 3,933 | ||
Total liabilities(b) | 514,233 | [1] | 519,502 | [1] |
GECC preferred stock (50,000 shares outstanding at both March 31, 2014 and December 31, 2013) | 0 | 0 | ||
Common stock (10,027,765,000 and 10,060,881,000 shares outstanding at March 31, 2014 and December 31, 2013, respectively) | 702 | 702 | ||
Accumulated other comprehensive income (loss) - net(c) | ' | ' | ||
Investment securities | 764 | [2] | 307 | [2] |
Currency translation adjustments | 177 | [2] | 126 | [2] |
Cash flow hedges | -189 | [2] | -257 | [2] |
Benefit plans | -8,601 | [2] | -9,296 | [2] |
Other capital | 32,544 | 32,494 | ||
Retained earnings | 149,840 | 149,051 | ||
Less common stock held in treasury | -43,401 | -42,561 | ||
Total GE shareowners' equity | 131,836 | 130,566 | ||
Noncontrolling interests(d) | 6,183 | [3] | 6,217 | [3] |
Total equity | 138,019 | 136,783 | ||
Total liabilities and equity | 652,252 | 656,285 | ||
Subsidiaries [Member] | ' | ' | ||
Assets | ' | ' | ||
Cash and equivalents | 11,690 | [4] | 13,682 | [4] |
Investment securities | 286 | [4] | 323 | [4] |
Current receivables | 11,102 | [4] | 10,970 | [4] |
Inventories | 18,819 | [4] | 17,257 | [4] |
Financing receivables - net | 0 | [4] | 0 | [4] |
Other GECC receivables | 0 | [4] | 0 | [4] |
Property, plant and equipment - net | 17,624 | [4] | 17,574 | [4] |
Investment in GECC | 79,637 | [4] | 77,745 | [4] |
Goodwill | 52,793 | [4] | 51,453 | [4] |
Other intangible assets - net | 13,518 | [4] | 13,180 | [4] |
All other assets | 23,940 | [4] | 23,708 | [4] |
Assets of businesses held for sale | 0 | [4] | 0 | [4] |
Assets of discontinued operations | 9 | [4] | 9 | [4] |
Total assets(b) | 229,418 | [1],[4] | 225,901 | [1],[4] |
Liabilities and equity | ' | ' | ||
Short-term borrowings | 1,547 | [4] | 1,841 | [4] |
Accounts payable, principally trade accounts | 15,718 | [4] | 16,353 | [4] |
Progress collections and price adjustments accrued | 12,817 | [4] | 13,152 | [4] |
Dividends payable | 2,206 | [4] | 2,220 | [4] |
Other GE current liabilities | 13,622 | [4] | 13,381 | [4] |
Non-recourse borrowings of consolidated securitization entities | 0 | [4] | 0 | [4] |
Bank deposits | 0 | [4] | 0 | [4] |
Long-term borrowings | 14,469 | [4] | 11,515 | [4] |
Investment contracts, insurance liabilities and insurance annuity benefits | 0 | [4] | 0 | [4] |
All other liabilities | 40,841 | [4] | 40,955 | [4] |
Deferred income taxes | -4,575 | [4] | -5,061 | [4] |
Liabilities of businesses held for sale | 0 | [4] | 0 | [4] |
Liabilities of discontinued operations | 144 | [4] | 143 | [4] |
Total liabilities(b) | 96,789 | [1],[4] | 94,499 | [1],[4] |
GECC preferred stock (50,000 shares outstanding at both March 31, 2014 and December 31, 2013) | 0 | [4] | 0 | [4] |
Common stock (10,027,765,000 and 10,060,881,000 shares outstanding at March 31, 2014 and December 31, 2013, respectively) | 702 | [4] | 702 | [4] |
Accumulated other comprehensive income (loss) - net(c) | ' | ' | ||
Investment securities | 764 | [2],[4] | 307 | [2],[4] |
Currency translation adjustments | 177 | [2],[4] | 126 | [2],[4] |
Cash flow hedges | -189 | [2],[4] | -257 | [2],[4] |
Benefit plans | -8,601 | [2],[4] | -9,296 | [2],[4] |
Other capital | 32,544 | [4] | 32,494 | [4] |
Retained earnings | 149,840 | [4] | 149,051 | [4] |
Less common stock held in treasury | -43,401 | [4] | -42,561 | [4] |
Total GE shareowners' equity | 131,836 | [4] | 130,566 | [4] |
Noncontrolling interests(d) | 793 | [3],[4] | 836 | [3],[4] |
Total equity | 132,629 | [4] | 131,402 | [4] |
Total liabilities and equity | 229,418 | [4] | 225,901 | [4] |
Subsidiaries GECC [Member] | ' | ' | ||
Assets | ' | ' | ||
Cash and equivalents | 75,289 | 74,873 | ||
Investment securities | 45,450 | 43,662 | ||
Current receivables | 0 | 0 | ||
Inventories | 62 | 68 | ||
Financing receivables - net | 247,242 | 253,029 | ||
Other GECC receivables | 15,643 | 16,513 | ||
Property, plant and equipment - net | 50,489 | 51,607 | ||
Investment in GECC | 0 | 0 | ||
Goodwill | 26,336 | 26,195 | ||
Other intangible assets - net | 1,275 | 1,136 | ||
All other assets | 47,164 | 47,366 | ||
Assets of businesses held for sale | 48 | 50 | ||
Assets of discontinued operations | 1,449 | 2,330 | ||
Total assets(b) | 510,447 | [1] | 516,829 | [1] |
Liabilities and equity | ' | ' | ||
Short-term borrowings | 75,102 | 77,298 | ||
Accounts payable, principally trade accounts | 7,740 | 6,549 | ||
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 | 28,724 | 30,124 | ||
Bank deposits | 54,743 | 53,361 | ||
Long-term borrowings | 206,654 | 210,279 | ||
Investment contracts, insurance liabilities and insurance annuity benefits | 27,604 | 26,979 | ||
All other liabilities | 18,773 | 20,531 | ||
Deferred income taxes | 4,956 | 4,786 | ||
Liabilities of businesses held for sale | 2 | 6 | ||
Liabilities of discontinued operations | 1,122 | 3,790 | ||
Total liabilities(b) | 425,420 | [1] | 433,703 | [1] |
GECC preferred stock (50,000 shares outstanding at both March 31, 2014 and December 31, 2013) | 0 | 0 | ||
Common stock (10,027,765,000 and 10,060,881,000 shares outstanding at March 31, 2014 and December 31, 2013, respectively) | 0 | 0 | ||
Accumulated other comprehensive income (loss) - net(c) | ' | ' | ||
Investment securities | 793 | [2] | 309 | [2] |
Currency translation adjustments | -773 | [2] | -687 | [2] |
Cash flow hedges | -225 | [2] | -293 | [2] |
Benefit plans | -381 | [2] | -363 | [2] |
Other capital | 32,563 | 32,563 | ||
Retained earnings | 52,610 | 51,165 | ||
Less common stock held in treasury | 0 | 0 | ||
Total GE shareowners' equity | 84,587 | 82,694 | ||
Noncontrolling interests(d) | 440 | [3] | 432 | [3] |
Total equity | 85,027 | 83,126 | ||
Total liabilities and equity | $510,447 | $516,829 | ||
[1] | Our consolidated assets at March 31, 2014 include total assets of $46,492 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 $40,749 million and investment securities of $3,797 million. Our consolidated liabilities at March 31, 2014 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 $27,175 million. See Note 16. | |||
[2] | The sum of accumulated other comprehensive income (loss) (AOCI) attributable to the Company was $(7,849) million and $(9,120) million at March 31, 2014 and December 31, 2013, respectively. | |||
[3] | Included AOCI attributable to noncontrolling interests of $(180) million at both March 31, 2014 and December 31, 2013. | |||
[4] | 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. |
Condensed_Statement_of_Financi1
Condensed Statement of Financial Position (Unaudited) (Parenthetical) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, except Share data, unless otherwise specified | ||
Balance Sheet Related Disclosures [Abstract] | ' | ' |
Preferred Stock, Shares Outstanding | 50,000 | 50,000 |
Common Stock, Shares, Outstanding | 10,027,765,000 | 10,060,881,000 |
Assets of consolidated variable interest entities that can only be used to settle the liabilities of those VIEs | $46,492 | ' |
Net financing receivables of certain VIEs that can only be used to settle the liabilities of those VIEs | 40,749 | ' |
Investment securities of certain VIEs that can only be used to settle the liabilities of those VIEs | 3,797 | ' |
Nonrecourse Borrowings Of Consolidated Securitization Entities Where VIE Creditors Do Not Have Recourse To Company | 27,175 | ' |
Sum of accumulated other comprehensive income - net | -7,849 | -9,120 |
Accumulated other comprehensive income - net attributable to noncontrolling interests | ($180) | ($180) |
Condensed_Statement_of_Cash_Fl
Condensed Statement of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | ||
Cash flows - operating activities | ' | ' | ||
Net earnings | $2,952 | $3,511 | ||
Less net earnings (loss) attributable to noncontrolling interests | -47 | -16 | ||
Net earnings (loss) attributable to the Company | 2,999 | 3,527 | ||
(Earnings) loss from discontinued operations, net of taxes | -12 | 120 | ||
Adjustments to reconcile net earnings attributable to the Company to cash provided from operating activities | ' | ' | ||
Depreciation and amortization of property, plant and equipment | 2,275 | 2,309 | ||
Earnings from continuing operations retained by GECC(b) | 0 | [1] | 0 | [1] |
Deferred income taxes | -1,964 | -1,511 | ||
Decrease (increase) in GE current receivables | 482 | 562 | ||
Decrease (increase) in inventories | -1,445 | -977 | ||
Increase (decrease) in accounts payable | 1,007 | 750 | ||
Increase (decrease) in GE progress collections | -334 | 598 | ||
Provision for losses on GECC financing receivables | 970 | 1,457 | ||
All other operating activities | 986 | -2,124 | ||
Cash from (used for) operating activities - continuing operations | 4,964 | 4,711 | ||
Cash from (used for) operating activities - discontinued operations | -3 | -101 | ||
Cash from (used for) operating activities | 4,961 | 4,610 | ||
Cash flows - investing activities | ' | ' | ||
Additions to property, plant and equipment | -3,361 | -3,644 | ||
Dispositions of property, plant and equipment | 1,192 | 829 | ||
Net decrease (increase) in GECC financing receivables | 3,169 | 5,209 | ||
Proceeds from sales of discontinued operations | 232 | 0 | ||
Proceeds from principal business dispositions | 20 | 272 | ||
Proceeds from sales of associated companies | 0 | 16,699 | ||
Net cash from (payments for) principal businesses purchased | -1,454 | 6,383 | ||
All other investing activities | 2,084 | 5,654 | ||
Cash from (used for) investing activities - continuing operations | 1,882 | 31,402 | ||
Cash from (used for) investing activities - discontinued operations | -90 | 83 | ||
Cash from (used for) investing activities | 1,792 | 31,485 | ||
Cash flows - financing activities | ' | ' | ||
Net increase (decrease) in borrowings (maturities of 90 days or less) | -3,330 | -9,849 | ||
Net increase (decrease) in bank deposits | 1,175 | -3,237 | ||
Newly issued debt (maturities longer than 90 days) | 8,775 | 17,521 | ||
Repayments and other reductions (maturities longer than 90 days) | -11,601 | -23,465 | ||
Net dispositions (purchases) of GE shares for treasury | -1,337 | -1,733 | ||
Dividends paid to shareowners | -2,223 | -1,983 | ||
All other financing activities | 46 | -195 | ||
Cash from (used for) financing activities - continuing operations | -8,495 | -22,941 | ||
Cash from (used for) financing activities - discontinued operations | -6 | -15 | ||
Cash from (used for) financing activities | -8,501 | -22,956 | ||
Effect of currency exchange rate changes on cash and equivalents | 73 | -714 | ||
Increase (decrease) in cash and equivalents | -1,675 | 12,425 | ||
Cash and equivalents at beginning of year | 88,787 | 77,459 | ||
Cash and equivalents at March 31 | 87,112 | 89,884 | ||
Less cash and equivalents of discontinued operations at March 31 | 133 | 158 | ||
Cash and equivalents of continuing operations at March 31 | 86,979 | 89,726 | ||
Subsidiaries [Member] | ' | ' | ||
Cash flows - operating activities | ' | ' | ||
Net earnings | 2,941 | [2] | 3,500 | [2] |
Less net earnings (loss) attributable to noncontrolling interests | -58 | [2] | -27 | [2] |
Net earnings (loss) attributable to the Company | 2,999 | [2] | 3,527 | [2] |
(Earnings) loss from discontinued operations, net of taxes | -12 | [2] | 120 | [2] |
Adjustments to reconcile net earnings attributable to the Company to cash provided from operating activities | ' | ' | ||
Depreciation and amortization of property, plant and equipment | 659 | [2] | 612 | [2] |
Earnings from continuing operations retained by GECC(b) | -1,433 | [1],[2] | -1,938 | [1],[2] |
Deferred income taxes | -341 | [2] | -1,762 | [2] |
Decrease (increase) in GE current receivables | -143 | [2] | -635 | [2] |
Decrease (increase) in inventories | -1,453 | [2] | -963 | [2] |
Increase (decrease) in accounts payable | 165 | [2] | 134 | [2] |
Increase (decrease) in GE progress collections | -347 | [2] | 598 | [2] |
Provision for losses on GECC financing receivables | 0 | [2] | 0 | [2] |
All other operating activities | 1,656 | [2] | 507 | [2] |
Cash from (used for) operating activities - continuing operations | 1,750 | [2] | 200 | [2] |
Cash from (used for) operating activities - discontinued operations | 0 | [2] | -2 | [2] |
Cash from (used for) operating activities | 1,750 | [2] | 198 | [2] |
Cash flows - investing activities | ' | ' | ||
Additions to property, plant and equipment | -1,090 | [2] | -975 | [2] |
Dispositions of property, plant and equipment | 0 | [2] | 0 | [2] |
Net decrease (increase) in GECC financing receivables | 0 | [2] | 0 | [2] |
Proceeds from sales of discontinued operations | 0 | [2] | 0 | [2] |
Proceeds from principal business dispositions | 20 | [2] | 111 | [2] |
Proceeds from sales of associated companies | 0 | [2] | 16,699 | [2] |
Net cash from (payments for) principal businesses purchased | -1,454 | [2] | -9 | [2] |
All other investing activities | 81 | [2] | -249 | [2] |
Cash from (used for) investing activities - continuing operations | -2,443 | [2] | 15,577 | [2] |
Cash from (used for) investing activities - discontinued operations | 0 | [2] | 2 | [2] |
Cash from (used for) investing activities | -2,443 | [2] | 15,579 | [2] |
Cash flows - financing activities | ' | ' | ||
Net increase (decrease) in borrowings (maturities of 90 days or less) | -756 | [2] | -529 | [2] |
Net increase (decrease) in bank deposits | 0 | [2] | 0 | [2] |
Newly issued debt (maturities longer than 90 days) | 3,034 | [2] | 92 | [2] |
Repayments and other reductions (maturities longer than 90 days) | -35 | [2] | -5,013 | [2] |
Net dispositions (purchases) of GE shares for treasury | -1,337 | [2] | -1,733 | [2] |
Dividends paid to shareowners | -2,223 | [2] | -1,983 | [2] |
All other financing activities | 37 | [2] | -29 | [2] |
Cash from (used for) financing activities - continuing operations | -1,280 | [2] | -9,195 | [2] |
Cash from (used for) financing activities - discontinued operations | 0 | [2] | 0 | [2] |
Cash from (used for) financing activities | -1,280 | [2] | -9,195 | [2] |
Effect of currency exchange rate changes on cash and equivalents | -19 | [2] | -17 | [2] |
Increase (decrease) in cash and equivalents | -1,992 | [2] | 6,565 | [2] |
Cash and equivalents at beginning of year | 13,682 | [2] | 15,509 | [2] |
Cash and equivalents at March 31 | 11,690 | [2] | 22,074 | [2] |
Less cash and equivalents of discontinued operations at March 31 | 0 | [2] | 0 | [2] |
Cash and equivalents of continuing operations at March 31 | 11,690 | [2] | 22,074 | [2] |
Subsidiaries GECC [Member] | ' | ' | ||
Cash flows - operating activities | ' | ' | ||
Net earnings | 1,956 | 1,829 | ||
Less net earnings (loss) attributable to noncontrolling interests | 11 | 11 | ||
Net earnings (loss) attributable to the Company | 1,945 | 1,818 | ||
(Earnings) loss from discontinued operations, net of taxes | -12 | 120 | ||
Adjustments to reconcile net earnings attributable to the Company to cash provided from operating activities | ' | ' | ||
Depreciation and amortization of property, plant and equipment | 1,616 | 1,697 | ||
Earnings from continuing operations retained by GECC(b) | 0 | [1] | 0 | [1] |
Deferred income taxes | -1,623 | 251 | ||
Decrease (increase) in GE current receivables | 0 | 0 | ||
Decrease (increase) in inventories | 13 | -1 | ||
Increase (decrease) in accounts payable | 887 | 614 | ||
Increase (decrease) in GE progress collections | 0 | 0 | ||
Provision for losses on GECC financing receivables | 970 | 1,457 | ||
All other operating activities | -638 | -2,802 | ||
Cash from (used for) operating activities - continuing operations | 3,158 | 3,154 | ||
Cash from (used for) operating activities - discontinued operations | -3 | -99 | ||
Cash from (used for) operating activities | 3,155 | 3,055 | ||
Cash flows - investing activities | ' | ' | ||
Additions to property, plant and equipment | -2,361 | -2,696 | ||
Dispositions of property, plant and equipment | 1,192 | 829 | ||
Net decrease (increase) in GECC financing receivables | 3,983 | 6,326 | ||
Proceeds from sales of discontinued operations | 232 | 0 | ||
Proceeds from principal business dispositions | 0 | 161 | ||
Proceeds from sales of associated companies | 0 | 0 | ||
Net cash from (payments for) principal businesses purchased | 0 | 6,392 | ||
All other investing activities | 3,009 | 6,226 | ||
Cash from (used for) investing activities - continuing operations | 6,055 | 17,238 | ||
Cash from (used for) investing activities - discontinued operations | -90 | 81 | ||
Cash from (used for) investing activities | 5,965 | 17,319 | ||
Cash flows - financing activities | ' | ' | ||
Net increase (decrease) in borrowings (maturities of 90 days or less) | -3,750 | -9,457 | ||
Net increase (decrease) in bank deposits | 1,175 | -3,237 | ||
Newly issued debt (maturities longer than 90 days) | 5,743 | 17,430 | ||
Repayments and other reductions (maturities longer than 90 days) | -11,566 | -18,452 | ||
Net dispositions (purchases) of GE shares for treasury | 0 | 0 | ||
Dividends paid to shareowners | -500 | 0 | ||
All other financing activities | 9 | -166 | ||
Cash from (used for) financing activities - continuing operations | -8,889 | -13,882 | ||
Cash from (used for) financing activities - discontinued operations | -6 | -15 | ||
Cash from (used for) financing activities | -8,895 | -13,897 | ||
Effect of currency exchange rate changes on cash and equivalents | 92 | -697 | ||
Increase (decrease) in cash and equivalents | 317 | 5,780 | ||
Cash and equivalents at beginning of year | 75,105 | 62,044 | ||
Cash and equivalents at March 31 | 75,422 | 67,824 | ||
Less cash and equivalents of discontinued operations at March 31 | 133 | 158 | ||
Cash and equivalents of continuing operations at March 31 | $75,289 | $67,666 | ||
[1] | Represents GECC earnings from continuing operations attributable to the Company, net of GECC dividends paid to GE. | |||
[2] | 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. |
Summary_of_Operating_Segments_
Summary of Operating Segments (Unaudited) | 3 Months Ended | |||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||
Summary of Operating Segments [Abstract] | ' | |||||||||||||||||
Summary of Operating Segments | ' | |||||||||||||||||
Summary of Operating Segments (Unaudited) | ||||||||||||||||||
Three months ended March 31 | ||||||||||||||||||
(Dollars in millions) | 2014 | 2013 | V% | |||||||||||||||
Revenues | ||||||||||||||||||
Power & Water | $ | 5,509 | $ | 4,825 | 14% | |||||||||||||
Oil & Gas | 4,308 | 3,399 | 27% | |||||||||||||||
Energy Management | 1,672 | 1,748 | -4% | |||||||||||||||
Aviation | 5,778 | 5,074 | 14% | |||||||||||||||
Healthcare | 4,198 | 4,289 | -2% | |||||||||||||||
Transportation | 1,227 | 1,422 | -14% | |||||||||||||||
Appliances & Lighting | 1,857 | 1,917 | -3% | |||||||||||||||
Total industrial segment revenues | 24,549 | 22,674 | 8% | |||||||||||||||
GE Capital | 10,515 | 11,468 | -8% | |||||||||||||||
Total segment revenues | 35,064 | 34,142 | 3% | |||||||||||||||
Corporate items and eliminations | -886 | 801 | U | |||||||||||||||
Consolidated revenues and other income | $ | 34,178 | $ | 34,943 | -2% | |||||||||||||
Segment profit | ||||||||||||||||||
Power & Water | $ | 888 | $ | 719 | 24% | |||||||||||||
Oil & Gas | 446 | 325 | 37% | |||||||||||||||
Energy Management | 5 | 15 | -67% | |||||||||||||||
Aviation | 1,115 | 936 | 19% | |||||||||||||||
Healthcare | 570 | 595 | -4% | |||||||||||||||
Transportation | 202 | 267 | -24% | |||||||||||||||
Appliances & Lighting | 53 | 79 | -33% | |||||||||||||||
Total industrial segment profit | 3,279 | 2,936 | 12% | |||||||||||||||
GE Capital | 1,933 | 1,938 | -% | |||||||||||||||
Total segment profit | 5,212 | 4,874 | 7% | |||||||||||||||
Corporate items and eliminations | -1,542 | -479 | U | |||||||||||||||
GE interest and other financial charges | -365 | -324 | -13% | |||||||||||||||
GE provision for income taxes | -318 | -424 | 25% | |||||||||||||||
Earnings from continuing operations | ||||||||||||||||||
attributable to the Company | 2,987 | 3,647 | -18% | |||||||||||||||
Earnings (loss) from discontinued operations, | ||||||||||||||||||
net of taxes, attributable to the Company | 12 | -120 | F | |||||||||||||||
Consolidated net earnings attributable to | ||||||||||||||||||
the Company | $ | 2,999 | $ | 3,527 | -15% |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2014 | |
Summary of Significant Accounting Policies [Abstract] | ' |
Summary Of Significant Accounting Policies | ' |
Notes to Condensed, Consolidated Financial Statements (Unaudited) | |
1. Basis of Presentation and Summary of Significant Accounting Policies | |
Basis of Presentation | |
The accompanying condensed, consolidated financial statements represent the consolidation of General Electric Company (the Company) and all companies that we directly or indirectly control, either through majority ownership or otherwise. See Note 1 to the consolidated financial statements in our Annual Report on Form 10-K for the fiscal year ended December 31, 2013 (2013 consolidated financial statements), which discusses our consolidation and financial statement presentation. As used in this report on Form 10-Q (Report), “GE” represents the adding together of all affiliated companies except General Electric Capital Corporation (GECC or Financial Services), whose continuing operations are presented on a one-line basis; GECC consists of General Electric Capital Corporation and all of its affiliates; and “Consolidated” represents the adding together of GE and GECC with the effects of transactions between the two eliminated. Unless otherwise indicated, we refer to the caption revenues and other income simply as “revenues” throughout Item 1 of this Form 10-Q. | |
We have reclassified certain prior-period amounts to conform to the current-period presentation. Unless otherwise indicated, information in these notes to the condensed, consolidated financial statements relates to continuing operations. | |
Interim Period Presentation | |
The condensed, consolidated financial statements and notes thereto are unaudited. These statements include all adjustments (consisting of normal recurring accruals) that we considered necessary to present a fair statement of our results of operations, financial position and cash flows. The results reported in these condensed, consolidated financial statements should not be regarded as necessarily indicative of results that may be expected for the entire year. It is suggested that these condensed, consolidated financial statements be read in conjunction with the financial statements and notes thereto included in our 2013 consolidated financial statements. We label our quarterly information using a calendar convention, that is, first quarter is labeled as ending on March 31, second quarter as ending on June 30, and third quarter as ending on September 30. It is our longstanding practice to establish interim quarterly closing dates using a fiscal calendar, which requires our businesses to close their books on either a Saturday or Sunday, depending on the business. The effects of this practice are modest and only exist within a reporting year. The fiscal closing calendar for 2014 is available on our website, www.ge.com/secreports. | |
Summary of Significant Accounting Policies | |
See the Notes in our 2013 consolidated financial statements for a summary of our significant accounting policies. | |
Accounting Changes | |
On January 1, 2014, we adopted Accounting Standards Update (ASU) 2013-05, Foreign Currency Matters (Topic 830): Parent's Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity. Under the revised guidance, the entire amount of the cumulative translation adjustment associated with the foreign entity will be released into earnings in the following circumstances: (a) the sale of a subsidiary or group of net assets within a foreign entity that represents a complete or substantially complete liquidation of that entity, (b) the loss of a controlling financial interest in an investment in a foreign entity, or (c) when the accounting for an investment in a foreign entity changes from the equity method to full consolidation. The revised guidance applies prospectively to transactions or events occurring on or after January 1, 2014. | |
On January 1, 2014, we adopted ASU 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. Under the new guidance, an unrecognized tax benefit is required to be presented as a reduction to a deferred tax asset if the disallowance of the tax position would reduce the available tax loss or tax credit carryforward instead of resulting in a cash tax liability. The ASU applies prospectively to all unrecognized tax benefits that exist as of the adoption date and reduced both deferred tax assets and income tax liabilities by $1,224 million as of January 1, 2014. | |
Assets_and_Liabilities_of_Busi
Assets and Liabilities of Businesses Held For Sale and Discontinued Operations | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | |||||||||||
Assets and Liabilities Of Business Held For Sale and Discontinued Operations | ' | |||||||||||
2. ASSETS AND LIABILITIES OF BUSINESSES HELD FOR SALE AND DISCONTINUED OPERATIONS | ||||||||||||
Assets and Liabilities of Businesses Held for Sale | ||||||||||||
In the first quarter of 2013, we committed to sell certain of our machining & fabrication businesses at Aviation and our Consumer auto and personal loan business in Portugal. We completed the sale of our machining & fabrication business on December 2, 2013 for proceeds of $108 million. We completed the sale of our Consumer auto and personal loan business in Portugal on July 15, 2013 for proceeds of $83 million. | ||||||||||||
NBCU | ||||||||||||
On March 19, 2013, we closed a transaction to sell our remaining 49% common equity interest in NBCUniversal LLC (NBCU LLC) to Comcast Corporation (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 three months ended March 31, 2013, both of these instruments were sold at approximately par value. In addition, Comcast is obligated to share with us potential tax savings associated with Comcast's purchase of our NBCU LLC interest, if realized. We did not recognize these potential future payments as consideration for the sale, but are recording such payments in income as they are received. 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 Commercial Lending and Leasing (CLL) trailer services business in Europe (CLL Trailer Services) and our Consumer banking business in Russia (Consumer Russia). Results of operations, financial position and cash flows for these businesses are separately reported as discontinued operations for all periods presented. | ||||||||||||
Financial Information for Discontinued Operations | ||||||||||||
Three months ended March 31 | ||||||||||||
(In millions) | 2014 | 2013 | ||||||||||
Operations | ||||||||||||
Total revenues and other income (loss) | $ | 29 | $ | 54 | ||||||||
Earnings (loss) from discontinued operations | ||||||||||||
before income taxes | $ | -14 | $ | -142 | ||||||||
Benefit (provision) for income taxes | 7 | 124 | ||||||||||
Earnings (loss) from discontinued operations, | ||||||||||||
net of taxes | $ | -7 | $ | -18 | ||||||||
Disposal | ||||||||||||
Gain (loss) on disposal before income taxes | $ | 18 | $ | -187 | ||||||||
Benefit (provision) for income taxes | 1 | 85 | ||||||||||
Gain (loss) on disposal, net of taxes | $ | 19 | $ | -102 | ||||||||
Earnings (loss) from discontinued operations, | ||||||||||||
net of taxes(a) | $ | 12 | $ | -120 | ||||||||
(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 Condensed Statement of Earnings. | ||||||||||||
(In millions) | 31-Mar-14 | 31-Dec-13 | ||||||||||
Assets | ||||||||||||
Cash and equivalents | $ | 133 | $ | 232 | ||||||||
Financing receivables – net | 1 | 711 | ||||||||||
Other | 1,324 | 1,396 | ||||||||||
Assets of discontinued operations | $ | 1,458 | $ | 2,339 | ||||||||
Liabilities | ||||||||||||
Deferred income taxes | $ | 258 | $ | 248 | ||||||||
Other | 1,008 | 3,685 | ||||||||||
Liabilities of discontinued operations | $ | 1,266 | $ | 3,933 | ||||||||
Other assets at March 31, 2014 and December 31, 2013 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. On February 26, 2014, we reached an agreement with the buyer to pay 175 billion Japanese yen (approximately $1,700 million) to extinguish this obligation. Our reserve for refund claims decreased from $1,836 million at December 31, 2013 to $56 million at March 31, 2014, reflecting payment in March 2014 of the amount required by the February 26, 2014 agreement. The $56 million liability reflects the final remaining amount payable under the February 26, 2014 agreement. | ||||||||||||
GE Money Japan earnings (loss) from discontinued operations, net of taxes, were $(1) million and $(51) million in the three months ended March 31, 2014 and 2013, respectively. | ||||||||||||
WMC | ||||||||||||
During the fourth quarter of 2007, we completed the sale of WMC, our U.S. mortgage business. WMC substantially discontinued all new loan originations by the second quarter of 2007, and is not a loan servicer. In connection with the sale, WMC retained certain representation and warranty obligations related to loans sold to third parties prior to the disposal of the business and contractual obligations to repurchase previously sold loans that had an early payment default. All claims received by WMC for early payment default have either been resolved or are no longer being pursued. | ||||||||||||
The remaining active claims have been brought by securitization trustees or administrators seeking recovery from WMC for alleged breaches of representations and warranties on mortgage loans that serve as collateral for residential mortgage-backed securities (RMBS). At March 31, 2014, such claims consisted of $4,466 million of individual claims generally submitted before the filing of a lawsuit (compared to $5,643 million at December 31, 2013) and $6,989 million of additional claims asserted against WMC in litigation without making a prior claim (Litigation Claims) (compared to $6,780 at December 31, 2013). The total amount of these claims, $11,455 million, reflects the purchase price or unpaid principal balances of the loans at the time of purchase and does not give effect to pay downs or potential recoveries based upon the underlying collateral, which in many cases are substantial, nor to accrued interest or fees. As of March 31, 2014, these amounts do not include approximately $700 million of repurchase claims relating to alleged breaches of representations that are not in litigation and that are beyond the applicable statute of limitations. WMC believes that repurchase claims brought based upon representations and warranties made more than six years before WMC was notified of the claim would be disallowed in legal proceedings under applicable statutes of limitations. | ||||||||||||
Reserves related to repurchase claims made against WMC were $550 million at March 31, 2014, reflecting a net decrease to reserves in the quarter ended March 31, 2014 of $250 million due to settlement activity. The reserve estimate takes into account recent settlement activity that reduced WMC's exposure on certain claims and is based upon WMC's evaluation of the remaining exposures as a percentage of estimated mortgage loan losses within the pool of loans supporting each securitization. Recent settlements reduced WMC's exposure on claims asserted in certain securitizations and the claim amounts reported above give effect to these settlements. | ||||||||||||
Rollforward of the Reserve | ||||||||||||
Three months ended March 31 | ||||||||||||
(In millions) | 2014 | 2013 | ||||||||||
Balance, beginning of period | $ | 800 | $ | 633 | ||||||||
Provision | - | 107 | ||||||||||
Claim resolutions | -250 | - | ||||||||||
Balance, end of period | $ | 550 | $ | 740 | ||||||||
Given the significant recent claim and related litigation activity and WMC's continuing efforts to resolve the lawsuits involving claims made against WMC, it is difficult to assess whether future losses will be consistent with WMC's past experience. Adverse changes to WMC's assumptions supporting the reserve may result in an increase to these reserves. Taking into account both recent settlement activity and the potential variability of settlements, WMC estimates a range of reasonably possible loss from $0 to approximately $500 million over its recorded reserve at March 31, 2014. This estimate excludes any possible loss associated with an adverse court decision on the applicable statute of limitations, as WMC is unable at this time to develop such a meaningful estimate. | ||||||||||||
At March 31, 2014, there were 14 lawsuits involving claims made against WMC arising from alleged breaches of representations and warranties on mortgage loans included in 13 securitizations. The adverse parties in these cases are securitization trustees or parties claiming to act on their behalf. Although the alleged claims for relief vary from case to case, the complaints and counterclaims in these actions generally assert claims for breach of contract, indemnification, and/or declaratory judgment, and seek specific performance (repurchase of defective mortgage loan) and/or money damages. Adverse court decisions, including in cases not involving WMC, could result in new claims and lawsuits on additional loans. However, WMC continues to believe that it has defenses to the claims asserted in litigation, including, for example, based on causation and materiality requirements and applicable statutes of limitations. It is not possible to predict the outcome or impact of these defenses and other factors, any of which could materially affect the amount of any loss ultimately incurred by WMC on these claims. | ||||||||||||
WMC has also received indemnification demands, nearly all of which are unspecified, from depositors/underwriters/sponsors of RMBS in connection with lawsuits brought by RMBS investors concerning alleged misrepresentations in the securitization offering documents to which WMC is not a party. WMC believes that it has defenses to these demands. | ||||||||||||
To the extent WMC is required to repurchase loans, WMC's loss also would be affected by several factors, including pay downs, accrued interest and fees, and the value of the underlying collateral. The reserve and estimate of possible loss reflect judgment, based on currently available information, and a number of assumptions, including economic conditions, claim and settlement activity, pending and threatened litigation, court decisions regarding WMC's legal defenses, indemnification demands, government activity, and other variables in the mortgage industry. Actual losses arising from claims against WMC could exceed these amounts and additional claims and lawsuits could result if actual claim rates, governmental actions, litigation and indemnification activity, adverse court decisions, actual settlement rates or losses WMC incurs on repurchased loans differ from its assumptions. | ||||||||||||
WMC revenues and other income (loss) from discontinued operations were $4 million and $(107) million in the three months ended March 31, 2014 and 2013, respectively. WMC earnings (loss) from discontinued operations, net of taxes, were $(2) million and $(71) million in the three months ended March 31, 2014 and 2013, 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. At that time, we recorded a $170 million loss on the planned disposal. We completed the sale in the first quarter of 2014 for proceeds of $232 million. Consumer Russia revenues and other income (loss) from discontinued operations were $24 million and $67 million in the three months ended March 31, 2014 and 2013, respectively. Consumer Russia earnings (loss) from discontinued operations, net of taxes, were $1 million (including a $4 million gain on disposal) and $(11) million in the three months ended March 31, 2014 and 2013, 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 $1 million and $93 million in the three months ended March 31, 2014 and 2013, respectively. CLL Trailer Services earnings (loss) from discontinued operations, net of taxes, were $13 million and $14 million in the three months ended March 31, 2014 and 2013, respectively. |
Investment_Securities
Investment Securities | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||
Investment Securities | ' | |||||||||||||||||||||||
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, 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. | ||||||||||||||||||||||||
31-Mar-14 | 31-Dec-13 | |||||||||||||||||||||||
Gross | Gross | Gross | Gross | |||||||||||||||||||||
Amortized | unrealized | unrealized | Estimated | Amortized | unrealized | unrealized | Estimated | |||||||||||||||||
(In millions) | cost | gains | losses | fair value | cost | gains | losses | fair value | ||||||||||||||||
GE | ||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||
U.S. corporate | $ | 22 | $ | 11 | $ | - | $ | 33 | $ | 21 | $ | 14 | $ | - | $ | 35 | ||||||||
Corporate – non-U.S. | 13 | - | - | 13 | 13 | - | -1 | 12 | ||||||||||||||||
Equity | ||||||||||||||||||||||||
Available-for-sale | 301 | 9 | -70 | 240 | 302 | 9 | -41 | 270 | ||||||||||||||||
Trading | - | - | - | - | 6 | - | - | 6 | ||||||||||||||||
336 | 20 | -70 | 286 | 342 | 23 | -42 | 323 | |||||||||||||||||
GECC | ||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||
U.S. corporate | 19,711 | 3,088 | -138 | 22,661 | 19,600 | 2,323 | -217 | 21,706 | ||||||||||||||||
State and municipal | 5,115 | 409 | -130 | 5,394 | 4,245 | 235 | -191 | 4,289 | ||||||||||||||||
Residential mortgage- | ||||||||||||||||||||||||
backed(a) | 1,770 | 143 | -39 | 1,874 | 1,819 | 139 | -48 | 1,910 | ||||||||||||||||
Commercial mortgage-backed | 2,986 | 198 | -61 | 3,123 | 2,929 | 188 | -82 | 3,035 | ||||||||||||||||
Asset-backed | 7,347 | 32 | -41 | 7,338 | 7,373 | 60 | -46 | 7,387 | ||||||||||||||||
Corporate – non-U.S. | 1,716 | 137 | -64 | 1,789 | 1,741 | 103 | -86 | 1,758 | ||||||||||||||||
Government – non-U.S. | 2,058 | 103 | -3 | 2,158 | 2,336 | 81 | -7 | 2,410 | ||||||||||||||||
U.S. government and federal | ||||||||||||||||||||||||
agency | 707 | 48 | -18 | 737 | 752 | 45 | -27 | 770 | ||||||||||||||||
Retained interests | 64 | 11 | - | 75 | 64 | 8 | - | 72 | ||||||||||||||||
Equity | ||||||||||||||||||||||||
Available-for-sale | 195 | 46 | -8 | 233 | 203 | 51 | -3 | 251 | ||||||||||||||||
Trading | 68 | - | - | 68 | 74 | - | - | 74 | ||||||||||||||||
41,737 | 4,215 | -502 | 45,450 | 41,136 | 3,233 | -707 | 43,662 | |||||||||||||||||
Eliminations | -3 | - | - | -3 | -4 | - | - | -4 | ||||||||||||||||
Total | $ | 42,070 | $ | 4,235 | $ | -572 | $ | 45,733 | $ | 41,474 | $ | 3,256 | $ | -749 | $ | 43,981 | ||||||||
(a) Substantially collateralized by U.S. mortgages. At March 31, 2014, $1,225 million relates to securities issued by government-sponsored entities and $649 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. | ||||||||||||||||||||||||
Estimated Fair Value and Gross Unrealized Losses of Available-for-Sale Investment Securities | ||||||||||||||||||||||||
In loss position for | ||||||||||||||||||||||||
Less than 12 months | 12 months or more | |||||||||||||||||||||||
Gross | Gross | |||||||||||||||||||||||
Estimated | unrealized | Estimated | unrealized | |||||||||||||||||||||
(In millions) | fair value | (a) | losses(a)(b) | fair value | losses(b) | |||||||||||||||||||
31-Mar-14 | ||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||
U.S. corporate | $ | 1,578 | $ | -63 | $ | 563 | $ | -75 | ||||||||||||||||
State and municipal | 942 | -37 | 347 | -93 | ||||||||||||||||||||
Residential mortgage-backed | 187 | -6 | 430 | -33 | ||||||||||||||||||||
Commercial mortgage-backed | 254 | -11 | 803 | -50 | ||||||||||||||||||||
Asset-backed | 101 | -1 | 294 | -40 | ||||||||||||||||||||
Corporate – non-U.S. | 56 | -1 | 430 | -63 | ||||||||||||||||||||
Government – non-U.S. | 1,098 | -3 | 52 | - | ||||||||||||||||||||
U.S. government and federal agency | 238 | -18 | - | - | ||||||||||||||||||||
Retained interests | 1 | - | 1 | - | ||||||||||||||||||||
Equity | 250 | -78 | - | - | ||||||||||||||||||||
Total | $ | 4,705 | $ | -218 | $ | 2,920 | $ | -354 | (c) | |||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
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 | ||||||||||||||||
(a) Includes the estimated fair value of and gross unrealized losses on Corporate-non-U.S. and Equity securities held by GE. At March 31, 2014, the estimated fair value of and gross unrealized losses on Corporate-non-U.S. securities were $13 million and an insignificant amount, respectively. The estimated fair value of and gross unrealized losses on Equity securities were $210 million and $(70) million, respectively. At December 31, 2013, the estimated fair value of and gross unrealized losses on Corporate-non-U.S. securities were $12 million and $(1) million, respectively. The estimated fair value of and gross unrealized losses on Equity securities were $222 million and $(41) million, respectively. | ||||||||||||||||||||||||
(b) Includes gross unrealized losses related to securities that had other-than-temporary impairments previously recognized of $(85) million at March 31, 2014. | ||||||||||||||||||||||||
(c) The majority relate to debt securities held to support obligations to holders of GICs and more than 70% are debt securities that were considered to be investment-grade by the major rating agencies at March 31, 2014. | ||||||||||||||||||||||||
We regularly review investment securities for other-than-temporary impairment (OTTI) using both qualitative and quantitative criteria. For debt securities, our qualitative review considers our ability and intent to hold the security and the financial condition of and near-term prospects for the issuer, including whether the issuer is in compliance with the terms and covenants of the security. Our quantitative review considers whether there has been an adverse change in expected future cash flows. Unrealized losses are not indicative of the amount of credit loss that would be recognized and at March 31, 2014 are primarily due to increases in market yields subsequent to our purchase of the securities. We presently do not intend to sell the vast majority of our debt securities that are in an unrealized loss position and believe that it is not more likely than not that we will be required to sell the vast majority of these securities before anticipated recovery of our amortized cost. The methodologies and significant inputs used to measure the amount of credit loss for our investment securities during the three months ended March 31, 2014 have not changed. For equity securities, we consider the duration and the severity of the unrealized loss. We believe that the unrealized loss associated with our equity securities will be recovered within the foreseeable future. | ||||||||||||||||||||||||
Our corporate debt portfolio comprises securities issued by public and private corporations in various industries, primarily in the U.S. Substantially all of our corporate debt securities are rated investment grade by the major rating agencies. | ||||||||||||||||||||||||
Our RMBS portfolio is collateralized primarily by pools of individual, direct mortgage loans, of which substantially all are in a senior position in the capital structure of the deals, not other structured products such as collateralized debt obligations. Of the total RMBS held at March 31, 2014, $1,225 million and $649 million related to agency and non-agency securities, respectively. Additionally, $355 million was related to residential subprime credit securities, primarily supporting our guaranteed investment contracts. Substantially all of the subprime exposure is related to securities backed by mortgage loans originated in 2006 and prior. A majority of subprime RMBS have been downgraded to below investment grade and are insured by Monoline insurers (Monolines). We continue to place partial reliance on Monolines with adequate capital and claims paying resources depending on the extent of the Monoline's anticipated ability to cover expected credit losses. | ||||||||||||||||||||||||
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 prior. The vast majority of the securities in our CMBS portfolio have investment-grade credit ratings. | ||||||||||||||||||||||||
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 the securities in our ABS portfolio are in a senior position in the capital structure of the deals. | ||||||||||||||||||||||||
Pre-tax, Other-Than-Temporary Impairments on Investment Securities | ||||||||||||||||||||||||
Three months ended March 31 | ||||||||||||||||||||||||
(In millions) | 2014 | 2013 | ||||||||||||||||||||||
Total pre-tax, OTTI recognized | $ | 38 | $ | 302 | ||||||||||||||||||||
Less: pre-tax, OTTI recognized in AOCI | -4 | -11 | ||||||||||||||||||||||
Pre-tax, OTTI recognized in earnings(a) | $ | 34 | $ | 291 | ||||||||||||||||||||
(a) Included pre-tax, other-than-temporary impairments recorded in earnings related to equity securities of $1 million during both the three months ended March 31, 2014 and 2013. | ||||||||||||||||||||||||
Changes in Cumulative Credit Loss Impairments Recognized on Debt Securities Still Held | ||||||||||||||||||||||||
Three months ended March 31 | ||||||||||||||||||||||||
(In millions) | 2014 | 2013 | ||||||||||||||||||||||
Cumulative credit loss impairments recognized, | ||||||||||||||||||||||||
beginning of period | $ | 1,192 | $ | 588 | ||||||||||||||||||||
Credit loss impairments recognized on securities | ||||||||||||||||||||||||
not previously impaired | - | 263 | ||||||||||||||||||||||
Incremental credit loss impairments recognized | ||||||||||||||||||||||||
on securities previously impaired | 29 | 12 | ||||||||||||||||||||||
Less: credit loss impairments previously | ||||||||||||||||||||||||
recognized on securities sold during the period | -51 | -1 | ||||||||||||||||||||||
Cumulative credit loss impairments recognized, | ||||||||||||||||||||||||
end of period | $ | 1,170 | $ | 862 | ||||||||||||||||||||
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 | $ | 1,870 | $ | 1,887 | ||||||||||||||||||||
After one year through five years | 3,633 | 3,896 | ||||||||||||||||||||||
After five years through ten years | 5,349 | 5,641 | ||||||||||||||||||||||
After ten years | 18,490 | 21,361 | ||||||||||||||||||||||
We expect actual maturities to differ from contractual maturities because borrowers have the right to call or prepay certain obligations. | ||||||||||||||||||||||||
Gross Realized Gains and Losses on Available-for-Sale Investment Securities | ||||||||||||||||||||||||
Three months ended March 31 | ||||||||||||||||||||||||
(In millions) | 2014 | 2013 | ||||||||||||||||||||||
GE | ||||||||||||||||||||||||
Gains | $ | - | $ | 1 | ||||||||||||||||||||
Losses, including impairments | - | -13 | ||||||||||||||||||||||
Net | - | -12 | ||||||||||||||||||||||
GECC | ||||||||||||||||||||||||
Gains | 19 | 62 | ||||||||||||||||||||||
Losses, including impairments | -36 | -278 | ||||||||||||||||||||||
Net | -17 | -216 | ||||||||||||||||||||||
Total | $ | -17 | $ | -228 | ||||||||||||||||||||
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 $1,349 million for the three months ended March 31, 2014, principally from sales of short-term government securities in our bank subsidiaries and Treasury operations and redemptions of non–U.S. corporate and asset-backed securities in our CLL business. | ||||||||||||||||||||||||
Proceeds from investment securities sales and early redemptions by issuers totaled $7,654 million for the three months ended March 31, 2013, principally from the sale of Comcast guaranteed debt, sales of short-term securities in our bank subsidiaries and Treasury operations and redemptions of non–U.S. corporate and asset-backed securities in our CLL business. | ||||||||||||||||||||||||
We recognized pre-tax gains (losses) on trading securities of $(5) million and $42 million in the three months ended March 31, 2014 and 2013, respectively. |
Inventories
Inventories | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Inventory, Net [Abstract] | ' | |||||||||||
Inventories | ' | |||||||||||
4. INVENTORIES | ||||||||||||
(In millions) | 31-Mar-14 | 31-Dec-13 | ||||||||||
Raw materials and work in process | $ | 10,447 | $ | 10,220 | ||||||||
Finished goods | 7,911 | 6,794 | ||||||||||
Unbilled shipments | 766 | 584 | ||||||||||
19,124 | 17,598 | |||||||||||
Less revaluation to LIFO | -243 | -273 | ||||||||||
Total | $ | 18,881 | $ | 17,325 | ||||||||
GECC_Financing_Receivables_All
GECC Financing Receivables, Allowance For Losses On Financing Receivables and Supplemental Information On Credit Quality | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Loans and Leases Receivable Disclosure [Abstract] | ' | ||||||||||||||||||||
GECC Financing Receivables, Allowance For Losses On Financing Receivables and Supplemental Information On Credit Quality | ' | ||||||||||||||||||||
5. GECC FINANCING RECEIVABLES AND ALLOWANCE FOR LOSSES ON FINANCING RECEIVABLES | |||||||||||||||||||||
(In millions) | 31-Mar-14 | 31-Dec-13 | |||||||||||||||||||
Loans, net of deferred income(a) | $ | 226,135 | $ | 231,268 | |||||||||||||||||
Investment in financing leases, net of deferred income | 26,251 | 26,939 | |||||||||||||||||||
252,386 | 258,207 | ||||||||||||||||||||
Allowance for losses | -5,144 | -5,178 | |||||||||||||||||||
Financing receivables – net(b) | $ | 247,242 | $ | 253,029 | |||||||||||||||||
Deferred income was $1,714 million and $2,013 million at March 31, 2014 and December 31, 2013, respectively. | |||||||||||||||||||||
Financing receivables at March 31, 2014 and December 31, 2013 included $532 million and $544 million, respectively, relating to loans that had been acquired in a transfer but have been subject to credit deterioration since origination. | |||||||||||||||||||||
Financing Receivables by Portfolio and Allowance for Losses | |||||||||||||||||||||
During the first quarter of 2014, we combined our CLL Europe and CLL Asia portfolios into CLL International and we transferred our CLL Other portfolio to the CLL Americas portfolio. Prior-period amounts were reclassified to conform to the current-period presentation. | |||||||||||||||||||||
(In millions) | 31-Mar-14 | 31-Dec-13 | |||||||||||||||||||
Commercial | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 68,367 | $ | 69,036 | |||||||||||||||||
International | 46,208 | 47,431 | |||||||||||||||||||
Total CLL | 114,575 | 116,467 | |||||||||||||||||||
Energy Financial Services | 2,753 | 3,107 | |||||||||||||||||||
GE Capital Aviation Services (GECAS) | 8,851 | 9,377 | |||||||||||||||||||
Other | 139 | 318 | |||||||||||||||||||
Total Commercial | 126,318 | 129,269 | |||||||||||||||||||
Real Estate | 20,236 | 19,899 | |||||||||||||||||||
Consumer | |||||||||||||||||||||
Non-U.S. residential mortgages | 30,355 | 30,501 | |||||||||||||||||||
Non-U.S. installment and revolving credit | 13,715 | 13,677 | |||||||||||||||||||
U.S. installment and revolving credit | 52,887 | 55,854 | |||||||||||||||||||
Non-U.S. auto | 1,957 | 2,054 | |||||||||||||||||||
Other | 6,918 | 6,953 | |||||||||||||||||||
Total Consumer | 105,832 | 109,039 | |||||||||||||||||||
Total financing receivables | 252,386 | 258,207 | |||||||||||||||||||
Allowance for losses | -5,144 | -5,178 | |||||||||||||||||||
Total financing receivables – net | $ | 247,242 | $ | 253,029 | |||||||||||||||||
Allowance for Losses on Financing Receivables | |||||||||||||||||||||
Provision | |||||||||||||||||||||
Balance at | charged to | Gross | Balance at | ||||||||||||||||||
(In millions) | 1-Jan | operations | Other | (a) | write-offs | (b) | Recoveries | (b) | 31-Mar | ||||||||||||
2014 | |||||||||||||||||||||
Commercial | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 473 | $ | 84 | $ | -1 | $ | -156 | $ | 19 | $ | 419 | |||||||||
International | 505 | 18 | 2 | -100 | 24 | 449 | |||||||||||||||
Total CLL | 978 | 102 | 1 | -256 | 43 | 868 | |||||||||||||||
Energy Financial Services | 8 | 9 | - | -2 | 1 | 16 | |||||||||||||||
GECAS | 17 | 8 | - | - | - | 25 | |||||||||||||||
Other | 2 | - | -2 | - | - | - | |||||||||||||||
Total Commercial | 1,005 | 119 | -1 | -258 | 44 | 909 | |||||||||||||||
Real Estate | 192 | -15 | 2 | -6 | 2 | 175 | |||||||||||||||
Consumer | |||||||||||||||||||||
Non-U.S. residential mortgages | 358 | 10 | 5 | -46 | 9 | 336 | |||||||||||||||
Non-U.S. installment and | |||||||||||||||||||||
revolving credit | 594 | 71 | 8 | -189 | 104 | 588 | |||||||||||||||
U.S. installment and | |||||||||||||||||||||
revolving credit | 2,823 | 752 | 18 | -785 | 139 | 2,947 | |||||||||||||||
Non-U.S. auto | 56 | 12 | 2 | -23 | 14 | 61 | |||||||||||||||
Other | 150 | 21 | -17 | -40 | 14 | 128 | |||||||||||||||
Total Consumer | 3,981 | 866 | 16 | -1,083 | 280 | 4,060 | |||||||||||||||
Total | $ | 5,178 | $ | 970 | $ | 17 | $ | -1,347 | $ | 326 | $ | 5,144 | |||||||||
2013 | |||||||||||||||||||||
Commercial | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 496 | $ | 71 | $ | -1 | $ | -103 | $ | 30 | $ | 493 | |||||||||
International | 525 | 94 | -10 | -150 | 24 | 483 | |||||||||||||||
Total CLL | 1,021 | 165 | -11 | -253 | 54 | 976 | |||||||||||||||
Energy Financial Services | 9 | -1 | - | - | - | 8 | |||||||||||||||
GECAS | 8 | -1 | - | - | - | 7 | |||||||||||||||
Other | 3 | - | - | -1 | - | 2 | |||||||||||||||
Total Commercial | 1,041 | 163 | -11 | -254 | 54 | 993 | |||||||||||||||
Real Estate | 320 | -20 | -6 | -29 | - | 265 | |||||||||||||||
Consumer | |||||||||||||||||||||
Non-U.S. residential mortgages | 480 | 56 | -17 | -55 | 12 | 476 | |||||||||||||||
Non-U.S. installment and | |||||||||||||||||||||
revolving credit | 582 | 180 | -14 | -231 | 140 | 657 | |||||||||||||||
U.S. installment and | |||||||||||||||||||||
revolving credit | 2,282 | 1,014 | -50 | -744 | 163 | 2,665 | |||||||||||||||
Non-U.S. auto | 67 | 17 | -5 | -30 | 17 | 66 | |||||||||||||||
Other | 172 | 47 | 7 | -52 | 7 | 181 | |||||||||||||||
Total Consumer | 3,583 | 1,314 | -79 | -1,112 | 339 | 4,045 | |||||||||||||||
Total | $ | 4,944 | $ | 1,457 | $ | -96 | $ | -1,395 | $ | 393 | $ | 5,303 | |||||||||
Other primarily includes 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. | |||||||||||||||||||||
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 nonaccrual data as key performance indicators. The categories used within this section such as impaired loans, troubled debt restructuring (TDR) and nonaccrual financing receivables are defined by the authoritative guidance and we base our categorization on the related scope and definitions contained in the related standards. The categories of nonaccrual and delinquent are used in our process for managing our financing receivables. | |||||||||||||||||||||
Past Due and Nonaccrual Financing Receivables | |||||||||||||||||||||
31-Mar-14 | 31-Dec-13 | ||||||||||||||||||||
Over 30 days | Over 90 days | Over 30 days | Over 90 days | ||||||||||||||||||
past due | past due | Nonaccrual | past due | past due | Nonaccrual | ||||||||||||||||
Commercial | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 713 | $ | 390 | $ | 1,239 | $ | 755 | $ | 359 | $ | 1,275 | |||||||||
International | 1,743 | 946 | 1,415 | 1,490 | 820 | 1,459 | |||||||||||||||
Total CLL | 2,456 | 1,336 | 2,654 | 2,245 | 1,179 | 2,734 | |||||||||||||||
Energy Financial Services | - | - | 43 | - | - | 4 | |||||||||||||||
GECAS | 1 | - | 275 | - | - | - | |||||||||||||||
Other | - | - | - | - | - | 6 | |||||||||||||||
Total Commercial | 2,457 | 1,336 | 2,972 | (a) | 2,245 | 1,179 | 2,744 | (a) | |||||||||||||
Real Estate | 263 | 207 | 2,383 | (b) | 247 | 212 | 2,551 | (b) | |||||||||||||
Consumer | |||||||||||||||||||||
Non-U.S. residential mortgages | 3,130 | 2,082 | 2,140 | 3,406 | 2,104 | 2,161 | |||||||||||||||
Non-U.S. installment and revolving credit | 533 | 152 | 73 | 512 | 146 | 88 | |||||||||||||||
U.S. installment and revolving credit | 2,169 | 1,028 | 2 | 2,442 | 1,105 | 2 | |||||||||||||||
Non-U.S. auto | 93 | 12 | 16 | 89 | 13 | 18 | |||||||||||||||
Other | 165 | 89 | 335 | 172 | 99 | 351 | |||||||||||||||
Total Consumer | 6,090 | 3,363 | (c) | 2,566 | (d) | 6,621 | 3,467 | (c) | 2,620 | (d) | |||||||||||
Total | $ | 8,810 | $ | 4,906 | $ | 7,921 | $ | 9,113 | $ | 4,858 | $ | 7,915 | |||||||||
Total as a percent of financing receivables | 3.5 | % | 1.9 | % | 3.1 | % | 3.5 | % | 1.9 | % | 3.1 | % | |||||||||
Includes $1,596 million and $1,397 million at March 31, 2014 and December 31, 2013, respectively, that are currently paying in accordance with their contractual terms. | |||||||||||||||||||||
Includes $2,127 million and $2,308 million at March 31, 2014 and December 31, 2013, respectively, that are currently paying in accordance with their contractual terms. | |||||||||||||||||||||
Includes $1,150 million and $1,197 million of Consumer loans at March 31, 2014 and December 31, 2013, respectively, that 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. | |||||||||||||||||||||
Includes $311 million and $323 million at March 31, 2014 and December 31, 2013, respectively, that are currently paying in accordance with their contractual terms. | |||||||||||||||||||||
Impaired Loans and Related Reserves | |||||||||||||||||||||
With no specific allowance | With a specific allowance | ||||||||||||||||||||
Recorded | Unpaid | Average | Recorded | Unpaid | Average | ||||||||||||||||
investment | principal | investment | investment | principal | Associated | investment | |||||||||||||||
(In millions) | in loans | balance | in loans | in loans | balance | allowance | in loans | ||||||||||||||
31-Mar-14 | |||||||||||||||||||||
Commercial | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 1,792 | $ | 2,385 | $ | 1,731 | $ | 257 | $ | 354 | $ | 49 | $ | 337 | |||||||
International(a) | 1,214 | 2,072 | 1,159 | 602 | 918 | 169 | 647 | ||||||||||||||
Total CLL | 3,006 | 4,457 | 2,890 | 859 | 1,272 | 218 | 984 | ||||||||||||||
Energy Financial Services | 18 | 18 | 9 | 26 | 26 | 3 | 15 | ||||||||||||||
GECAS | - | - | - | 65 | 65 | 8 | 32 | ||||||||||||||
Other | - | - | 1 | - | - | - | 2 | ||||||||||||||
Total Commercial(b) | 3,024 | 4,475 | 2,900 | 950 | 1,363 | 229 | 1,033 | ||||||||||||||
Real Estate(c) | 2,925 | 3,448 | 2,770 | 737 | 871 | 53 | 991 | ||||||||||||||
Consumer(d) | 132 | 169 | 120 | 2,836 | 2,854 | 560 | 2,857 | ||||||||||||||
Total | $ | 6,081 | $ | 8,092 | $ | 5,790 | $ | 4,523 | $ | 5,088 | $ | 842 | $ | 4,881 | |||||||
31-Dec-13 | |||||||||||||||||||||
Commercial | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 1,670 | $ | 2,187 | $ | 2,154 | $ | 417 | $ | 505 | $ | 96 | $ | 509 | |||||||
International(a) | 1,104 | 1,938 | 1,136 | 691 | 1,046 | 231 | 629 | ||||||||||||||
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(b) | 2,776 | 4,128 | 3,299 | 1,116 | 1,559 | 328 | 1,146 | ||||||||||||||
Real Estate(c) | 2,615 | 3,036 | 3,058 | 1,245 | 1,507 | 74 | 1,688 | ||||||||||||||
Consumer(d) | 109 | 153 | 98 | 2,879 | 2,948 | 567 | 3,058 | ||||||||||||||
Total | $ | 5,500 | $ | 7,317 | $ | 6,455 | $ | 5,240 | $ | 6,014 | $ | 969 | $ | 5,892 | |||||||
Write-offs to net realizable value are recognized against the allowance for losses primarily in the reporting period in which management has deemed all or a portion of the financing receivable to be uncollectible, but not later than 360 days after initial recognition of a specific reserve for a collateral dependent loan. However, in accordance with regulatory standards that are applicable in Italy, commercial loans are considered uncollectible when there is demonstrable evidence of the debtor's insolvency, which may result in write-offs occurring beyond 360 days after initial recognition of a specific reserve. | |||||||||||||||||||||
We recognized $57 million, $218 million and $53 million of interest income, including none, $60 million and $16 million on a cash basis, in the three months ended March 31, 2014, the year ended December 31, 2013 and the three months ended March 31, 2013, respectively, principally in our CLL Americas business. The total average investment in impaired loans for the three months ended March 31, 2014 and the year ended December 31, 2013 was $3,933 million and $4,445 million, respectively. | |||||||||||||||||||||
We recognized $19 million, $187 million and $57 million of interest income, including none, $135 million and $44 million on a cash basis, in the three months ended March 31, 2014, the year ended December 31, 2013 and the three months ended March 31, 2013, respectively. The total average investment in impaired loans for the three months ended March 31, 2014 and the year ended December 31, 2013 was $3,761 million and $4,746 million, respectively. | |||||||||||||||||||||
We recognized $46 million, $221 million and $57 million of interest income, including an insignificant amount, $3 million and $1 million on a cash basis, in the three months ended March 31, 2014, the year ended December 31, 2013 and the three months ended March 31, 2013, respectively, principally in our Consumer-U.S. installment and revolving credit portfolios. The total average investment in impaired loans for the three months ended March 31, 2014 and the year ended December 31, 2013 was $2,977 million and $3,156 million, respectively. | |||||||||||||||||||||
(In millions) | Non-impaired financing receivables | General reserves | Impaired loans | Specific reserves | |||||||||||||||||
31-Mar-14 | |||||||||||||||||||||
Commercial | $ | 122,344 | $ | 680 | $ | 3,974 | $ | 229 | |||||||||||||
Real Estate | 16,574 | 122 | 3,662 | 53 | |||||||||||||||||
Consumer | 102,864 | 3,500 | 2,968 | 560 | |||||||||||||||||
Total | $ | 241,782 | $ | 4,302 | $ | 10,604 | $ | 842 | |||||||||||||
31-Dec-13 | |||||||||||||||||||||
Commercial | $ | 125,377 | $ | 677 | $ | 3,892 | $ | 328 | |||||||||||||
Real Estate | 16,039 | 118 | 3,860 | 74 | |||||||||||||||||
Consumer | 106,051 | 3,414 | 2,988 | 567 | |||||||||||||||||
Total | $ | 247,467 | $ | 4,209 | $ | 10,740 | $ | 969 | |||||||||||||
Impaired loans classified as TDRs in our CLL business were $2,916 million and $2,961 million at March 31, 2014 and December 31, 2013, respectively, and were primarily attributable to CLL Americas ($1,676 million and $1,770 million, respectively). For the three months ended March 31, 2014, we modified $295 million of loans classified as TDRs, primarily in CLL Americas ($176 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 $1,391 million and $2,555 million of modifications classified as TDRs in the twelve months ended March 31, 2014 and 2013, respectively, $19 million and $44 million have subsequently experienced a payment default in the three months ended March 31, 2014 and 2013, respectively. | |||||||||||||||||||||
Real Estate TDRs decreased from $3,625 million at December 31, 2013 to $3,470 million at March 31, 2014, primarily driven by resolution of TDRs through paydowns. 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 has 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 three months ended March 31, 2014, we modified $369 million of loans classified as TDRs. Changes to these loans primarily included forbearance, maturity extensions and changes to collateral or covenant terms or other actions, which are in addition to, or sometimes in lieu of, fees and rate increases. Of our $1,636 million and $3,611 million of modifications classified as TDRs in the twelve months ended March 31, 2014 and 2013, respectively, $20 million and $174 million have subsequently experienced a payment default in the three months ended March 31, 2014 and 2013, respectively. | |||||||||||||||||||||
Impaired loans in our Consumer business represent restructured smaller balance homogeneous loans meeting the definition of a TDR, and are therefore subject to the disclosure requirement for impaired loans, and commercial loans in our Consumer–Other portfolio. The recorded investment of these impaired loans totaled $2,968 million (with an unpaid principal balance of $3,023 million) and comprised $132 million with no specific allowance, primarily all in our Consumer–Other portfolio, and $2,836 million with a specific allowance of $560 million at March 31, 2014. The impaired loans with a specific allowance included $239 million with a specific allowance of $33 million in our Consumer–Other portfolio and $2,597 million with a specific allowance of $527 million across the remaining Consumer business and had an unpaid principal balance and average investment of $2,854 million and $2,857 million, respectively, at March 31, 2014. | |||||||||||||||||||||
Impaired loans classified as TDRs in our Consumer business were $2,839 million and $2,874 million at March 31, 2014 and December 31, 2013, 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 three months ended March 31, 2014, we modified $296 million of consumer loans for borrowers experiencing financial difficulties, which are classified as TDRs, and included $179 million of non-U.S. consumer loans, primarily residential mortgages, credit cards and personal loans and $117 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 $1,339 million and $1,647 million of modifications classified as TDRs in the twelve months ended March 31, 2014 and 2013, respectively, $57 million and $100 million have subsequently experienced a payment default in the three months ended March 31, 2014 and 2013, 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. | |||||||||||||||||||||
As described above, financing receivables are assigned one of 21 risk ratings based on our process and then these are grouped by similar characteristics into three categories in the table below. Category A is characterized by either high-credit-quality borrowers or transactions with significant collateral coverage that substantially reduces or eliminates the risk of loss in the event of borrower default. Category B is characterized by borrowers with weaker credit quality than those in Category A, or transactions with moderately strong collateral coverage that minimizes but may not fully mitigate the risk of loss in the event of default. Category C is characterized by borrowers with higher levels of default risk relative to our overall portfolio or transactions where collateral coverage may not fully mitigate a loss in the event of default. | |||||||||||||||||||||
Commercial Financing Receivables Risk by Category | |||||||||||||||||||||
Secured | |||||||||||||||||||||
(In millions) | A | B | C | Total | |||||||||||||||||
31-Mar-14 | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 65,126 | $ | 1,348 | $ | 1,538 | $ | 68,012 | |||||||||||||
International | 43,537 | 565 | 1,439 | 45,541 | |||||||||||||||||
Total CLL | 108,663 | 1,913 | 2,977 | 113,553 | |||||||||||||||||
Energy Financial Services | 2,616 | 62 | 44 | 2,722 | |||||||||||||||||
GECAS | 8,582 | 55 | 214 | 8,851 | |||||||||||||||||
Other | 139 | - | - | 139 | |||||||||||||||||
Total | $ | 120,000 | $ | 2,030 | $ | 3,235 | $ | 125,265 | |||||||||||||
31-Dec-13 | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 65,545 | $ | 1,587 | $ | 1,554 | $ | 68,686 | |||||||||||||
International | 44,930 | 619 | 1,237 | 46,786 | |||||||||||||||||
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 | |||||||||||||
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 nonaccrual or impaired. | |||||||||||||||||||||
Our unsecured Commercial financing receivables portfolio is primarily attributable to our Interbanca S.p.A. and GE Sanyo Credit acquisitions in CLL International. At March 31, 2014 and December 31, 2013, these financing receivables included $371 million and $313 million rated A, $400 million and $580 million rated B, and $282 million and $231 million rated C, respectively. | |||||||||||||||||||||
Real Estate | |||||||||||||||||||||
Due to the primarily non-recourse nature of our Debt portfolio, loan-to-value ratios (the ratio of the outstanding debt on a property to the re-indexed value of that property) provide the best indicators of the credit quality of the portfolio. | |||||||||||||||||||||
Loan-to-value ratio | |||||||||||||||||||||
31-Mar-14 | 31-Dec-13 | ||||||||||||||||||||
Less than | 80% to | Greater than | Less than | 80% to | Greater than | ||||||||||||||||
(In millions) | 80% | 95% | 95% | 80% | 95% | 95% | |||||||||||||||
Debt | $ | 15,974 | $ | 1,512 | $ | 1,754 | $ | 15,576 | $ | 1,300 | $ | 2,111 | |||||||||
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. As of March 31, 2014, the balances of our owner occupied/credit tenant portfolio with an internal risk rating of A, B and C approximated $638 million, $201 million and $157 million, respectively, as compared to the December 31, 2013, balances of $571 million, $179 million and $162 million, respectively. | |||||||||||||||||||||
The financing receivables within our Debt portfolio are primarily concentrated in our North American and European Lending platforms and are secured by various property types. A substantial majority of our 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. 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 March 31, 2014, our U.S. consumer financing receivables included private-label credit card and sales financing for approximately 57 million customers across the U.S. with no metropolitan area accounting for more than 6% of the portfolio. Of the total U.S. consumer financing receivables, approximately 66% relate to credit card loans that are often subject to profit and loss-sharing arrangements with the retailer (which are recorded in revenues), and the remaining 34% are sales finance receivables that provide financing to customers in areas such as electronics, recreation, medical and home improvement. | |||||||||||||||||||||
Our Consumer financing receivables portfolio comprises both secured and unsecured lending. Secured financing receivables 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 5% 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. | |||||||||||||||||||||
Loan-to-value ratio | |||||||||||||||||||||
31-Mar-14 | 31-Dec-13 | ||||||||||||||||||||
80% or | Greater than | Greater than | 80% or | Greater than | Greater than | ||||||||||||||||
(In millions) | less | 80% to 90% | 90% | less | 80% to 90% | 90% | |||||||||||||||
Non-U.S. residential mortgages | $ | 17,148 | $ | 5,098 | $ | 8,109 | $ | 17,224 | $ | 5,130 | $ | 8,147 | |||||||||
The majority of these financing receivables are in our U.K. and France portfolios and have re-indexed loan-to-value ratios of 74% 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 22% of the balance of Consumer non-U.S. residential mortgage loans with loan-to-value ratios greater than 90% at March 31, 2014. 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 | |||||||||||||||||||||
31-Mar-14 | 31-Dec-13 | ||||||||||||||||||||
671 or | 626 to | 625 or | 671 or | 626 to | 625 or | ||||||||||||||||
(In millions) | higher | 670 | less | higher | 670 | less | |||||||||||||||
Non-U.S. installment and | |||||||||||||||||||||
revolving credit | $ | 8,033 | $ | 3,117 | $ | 2,565 | $ | 8,310 | $ | 2,855 | $ | 2,512 | |||||||||
U.S. installment and | |||||||||||||||||||||
revolving credit | 34,388 | 10,817 | 7,682 | 36,723 | 11,101 | 8,030 | |||||||||||||||
Non-U.S. auto | 1,338 | 344 | 275 | 1,395 | 373 | 286 | |||||||||||||||
Installment and revolving credit accounts with credit bureau equivalent scores of 625 or less 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. 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 | |||||||||||||||||||||
We develop our internal risk ratings for this portfolio in a manner consistent with the process used to develop our Commercial credit quality indicators, described above. We use the borrower's credit quality and underlying collateral strength to determine the potential risk of loss from these activities. | |||||||||||||||||||||
At March 31, 2014, Consumer – Other financing receivables of $6,013 million, $401 million and $504 million were rated A, B, and C, respectively. At December 31, 2013, Consumer – Other financing receivables of $6,137 million, $315 million and $501 million were rated A, B, and C, respectively. |
Property_Plant_and_Equipment
Property, Plant and Equipment | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||||||
Property, Plant and Equipment | ' | |||||||||||
6. PROPERTY, PLANT AND EQUIPMENT | ||||||||||||
(In millions) | 31-Mar-14 | 31-Dec-13 | ||||||||||
Original cost | $ | 115,869 | $ | 116,469 | ||||||||
Less accumulated depreciation and amortization | -48,126 | -47,642 | ||||||||||
Property, plant and equipment – net | $ | 67,743 | $ | 68,827 | ||||||||
Consolidated depreciation and amortization was $2,275 million and $2,309 million in the three months ended March 31, 2014 and 2013, respectively. |
Goodwill_and_Other_Intangibles
Goodwill and Other Intangibles Assets | 3 Months Ended | |||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||
Goodwill and Other Intangible Assets | ' | |||||||||||||||||
7. GOODWILL AND OTHER INTANGIBLE ASSETS | ||||||||||||||||||
During the first quarter of 2014, we acquired several businesses in our Healthcare segment. On February 12, 2014, we acquired API Healthcare (API) for $340 million in cash. API is a healthcare workforce management software and analytics solutions provider. The preliminary purchase price allocation resulted in goodwill of approximately $275 million and amortizable intangible assets of approximately $125 million. On March 21, 2014, we acquired certain Thermo Fisher Scientific Inc. life-science businesses for $1,065 million in cash. The primary business acquired, Hyclone, is a leading manufacturer of products used to support biopharmaceutical research and production. The preliminary purchase price allocation resulted in goodwill of approximately $725 million and amortizable intangible assets of approximately $300 million. The allocation of purchase prices will be finalized upon completion of post-closing procedures. | ||||||||||||||||||
Goodwill | ||||||||||||||||||
Dispositions, | ||||||||||||||||||
currency | ||||||||||||||||||
Balance at | exchange | Balance at | ||||||||||||||||
(In millions) | 1-Jan-14 | Acquisitions | and other | 31-Mar-14 | ||||||||||||||
Power & Water | $ | 8,822 | $ | - | $ | 34 | $ | 8,856 | ||||||||||
Oil & Gas | 10,516 | 21 | 30 | 10,567 | ||||||||||||||
Energy Management | 4,748 | - | 75 | 4,823 | ||||||||||||||
Aviation | 9,103 | - | 168 | 9,271 | ||||||||||||||
Healthcare | 16,643 | 1,024 | 19 | 17,686 | ||||||||||||||
Transportation | 1,012 | 1 | -32 | 981 | ||||||||||||||
Appliances & Lighting | 606 | - | - | 606 | ||||||||||||||
GE Capital | 26,195 | - | 141 | 26,336 | ||||||||||||||
Corporate | 3 | - | - | 3 | ||||||||||||||
Total | $ | 77,648 | $ | 1,046 | $ | 435 | $ | 79,129 | ||||||||||
Goodwill balances increased by $1,481 million, primarily as a result of acquisitions at Healthcare and the result of currency exchange effects of a weaker U.S. dollar. | ||||||||||||||||||
Other Intangible Assets - Net | ||||||||||||||||||
(In millions) | 31-Mar-14 | 31-Dec-13 | ||||||||||||||||
Intangible assets subject to amortization | $ | 14,645 | $ | 14,150 | ||||||||||||||
Indefinite-lived intangible assets(a) | 143 | 160 | ||||||||||||||||
Total | $ | 14,788 | $ | 14,310 | ||||||||||||||
(a) Indefinite-lived intangible assets principally comprise trademarks and in-process research and development. | ||||||||||||||||||
Intangible Assets Subject to Amortization | ||||||||||||||||||
31-Mar-14 | 31-Dec-13 | |||||||||||||||||
Gross | Gross | |||||||||||||||||
carrying | Accumulated | carrying | Accumulated | |||||||||||||||
(In millions) | amount | amortization | Net | amount | amortization | Net | ||||||||||||
Customer-related | $ | 8,426 | $ | -2,402 | $ | 6,024 | $ | 7,938 | $ | -2,312 | $ | 5,626 | ||||||
Patents and technology | 6,785 | -2,718 | 4,067 | 6,602 | -2,621 | 3,981 | ||||||||||||
Capitalized software | 8,478 | -5,420 | 3,058 | 8,256 | -5,252 | 3,004 | ||||||||||||
Trademarks | 1,370 | -312 | 1,058 | 1,356 | -295 | 1,061 | ||||||||||||
Lease valuations | 679 | -480 | 199 | 703 | -498 | 205 | ||||||||||||
Present value of future profits(a) | 583 | -583 | - | 574 | -574 | - | ||||||||||||
All other | 599 | -360 | 239 | 632 | -359 | 273 | ||||||||||||
Total | $ | 26,920 | $ | -12,275 | $ | 14,645 | $ | 26,061 | $ | -11,911 | $ | 14,150 | ||||||
(a) Balances at March 31, 2014 and December 31, 2013 reflect adjustments of $316 million and $322 million, respectively, to the present value of future profits in our run-off insurance operation to reflect the effects that would have been recognized had the related unrealized investment securities holding gains and losses actually been realized. | ||||||||||||||||||
Intangible assets subject to amortization increased $859 million in the three months ended March 31, 2014, primarily as a result of acquisitions at Healthcare. | ||||||||||||||||||
Consolidated amortization expense was $420 million and $399 million in the three months ended March 31, 2014 and 2013, respectively. |
GECC_Borrowings_and_Bank_Depos
GECC Borrowings and Bank Deposits | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Debt Disclosure [Abstract] | ' | |||||||||||
GECC Borrowings and Bank Deposits | ' | |||||||||||
8. BORROWINGS AND BANK DEPOSITS | ||||||||||||
(In millions) | 31-Mar-14 | 31-Dec-13 | ||||||||||
Short-term borrowings | ||||||||||||
GE | ||||||||||||
Commercial paper | $ | 350 | $ | - | ||||||||
Payable to banks | 520 | 346 | ||||||||||
Current portion of long-term borrowings | 70 | 70 | ||||||||||
Other | 607 | 1,425 | ||||||||||
Total GE short-term borrowings | 1,547 | 1,841 | ||||||||||
GECC | ||||||||||||
Commercial paper | ||||||||||||
U.S. | 21,229 | 24,877 | ||||||||||
Non-U.S. | 3,817 | 4,168 | ||||||||||
Current portion of long-term borrowings(a)(b) | 40,720 | 39,215 | ||||||||||
GE Interest Plus notes(c) | 8,935 | 8,699 | ||||||||||
Other(b) | 401 | 339 | ||||||||||
Total GECC short-term borrowings | 75,102 | 77,298 | ||||||||||
Eliminations | -528 | -1,249 | ||||||||||
Total short-term borrowings | $ | 76,121 | $ | 77,890 | ||||||||
Long-term borrowings | ||||||||||||
GE | ||||||||||||
Senior notes | $ | 13,941 | $ | 10,968 | ||||||||
Payable to banks | 9 | 10 | ||||||||||
Other | 519 | 537 | ||||||||||
Total GE long-term borrowings | 14,469 | 11,515 | ||||||||||
GECC | ||||||||||||
Senior unsecured notes(a)(d) | 183,271 | 186,433 | ||||||||||
Subordinated notes(e) | 4,860 | 4,821 | ||||||||||
Subordinated debentures(f) | 7,530 | 7,462 | ||||||||||
Other(b) | 10,993 | 11,563 | ||||||||||
Total GECC long-term borrowings | 206,654 | 210,279 | ||||||||||
Eliminations | -131 | -129 | ||||||||||
Total long-term borrowings | $ | 220,992 | $ | 221,665 | ||||||||
Non-recourse borrowings of consolidated securitization entities(g) | $ | 28,724 | $ | 30,124 | ||||||||
Bank deposits(h) | $ | 54,743 | $ | 53,361 | ||||||||
Total borrowings and bank deposits | $ | 380,580 | $ | 383,040 | ||||||||
(a) Included $481 million of obligations to holders of GICs at both March 31, 2014 and December 31, 2013, respectively. These obligations included conditions under which certain GIC holders could require immediate repayment of their investment should the long-term credit ratings of GECC fall below AA-/Aa3. The remaining outstanding GICs will continue to be subject to their scheduled maturities and individual terms, which may include provisions permitting redemption upon a downgrade of one or more of GECC's ratings, among other things. | ||||||||||||
(b) Included $9,338 million and $9,468 million of funding secured by real estate, aircraft and other collateral at March 31, 2014 and December 31, 2013, respectively, of which $2,733 million and $2,868 million is non-recourse to GECC at March 31, 2014 and December 31, 2013, respectively. | ||||||||||||
(c) Entirely variable denomination floating-rate demand notes. | ||||||||||||
(d) Included $700 million of debt at both March 31, 2014 and December 31, 2013 raised by a funding entity related to Penske Truck Leasing Co., L.P. (PTL). GECC, as co-issuer and co-guarantor of the debt, reports this amount as borrowings in its financial statements. GECC has been indemnified by the other limited partners of PTL for their proportionate share of the debt obligation. | ||||||||||||
(e) Included $300 million of subordinated notes guaranteed by GE at both March 31, 2014 and December 31, 2013. | ||||||||||||
(f) Subordinated debentures receive rating agency equity credit. | ||||||||||||
(g) Included at March 31, 2014 and December 31, 2013, were $9,878 million and $9,047 million of current portion of long-term borrowings, respectively. See Note 16. | ||||||||||||
(h) Included $13,458 million and $13,614 million of deposits in non-U.S. banks at March 31, 2014 and December 31, 2013, respectively, and $19,305 million and $18,275 million of certificates of deposits with maturities greater than one year at March 31, 2014 and December 31, 2013, respectively. | ||||||||||||
In the first quarter of 2014, GE issued $3,000 million senior unsecured debt, composed of $750 million aggregate principal amount of 3.375% Notes due 2024 and $2,250 million aggregate principal amount of 4.500% Notes due 2044. |
Postretirement_Benefit_Plans
Postretirement Benefit Plans | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | ' | |||||||||||
Postretirement Benefit Plans | ' | |||||||||||
9. POSTRETIREMENT BENEFIT PLANS | ||||||||||||
We sponsor a number of pension and retiree health and life insurance benefit plans. Principal pension plans are the GE Pension Plan and the GE Supplementary Pension Plan. Principal retiree benefit plans provide health and life insurance benefits to certain eligible participants and these participants share in the cost of the healthcare benefits. Other pension plans include the U.S. and non-U.S. pension plans with pension assets or obligations greater than $50 million. Smaller pension plans and other retiree benefit plans are not material individually or in the aggregate. | ||||||||||||
Effect on Operations of Pension Plans | ||||||||||||
Principal Pension Plans | ||||||||||||
Three months ended March 31 | ||||||||||||
(In millions) | 2014 | 2013 | ||||||||||
Service cost for benefits earned | $ | 318 | $ | 401 | ||||||||
Prior service cost amortization | 54 | 61 | ||||||||||
Expected return on plan assets | -801 | -875 | ||||||||||
Interest cost on benefit obligation | 686 | 614 | ||||||||||
Net actuarial loss amortization | 641 | 912 | ||||||||||
Pension plans cost | $ | 898 | $ | 1,113 | ||||||||
Other Pension Plans | ||||||||||||
Three months ended March 31 | ||||||||||||
(In millions) | 2014 | 2013 | ||||||||||
Service cost for benefits earned | $ | 114 | $ | 102 | ||||||||
Prior service cost amortization | 1 | 2 | ||||||||||
Expected return on plan assets | -197 | -165 | ||||||||||
Interest cost on benefit obligation | 146 | 130 | ||||||||||
Net actuarial loss amortization | 49 | 86 | ||||||||||
Pension plans cost | $ | 113 | $ | 155 | ||||||||
Effect on Operations of Principal Retiree Health and Life Insurance Plans | ||||||||||||
Principal Retiree Health | ||||||||||||
and Life Insurance Plans | ||||||||||||
Three months ended March 31 | ||||||||||||
(In millions) | 2014 | 2013 | ||||||||||
Service cost for benefits earned | $ | 44 | $ | 73 | ||||||||
Prior service cost amortization | 98 | 98 | ||||||||||
Expected return on plan assets | -12 | -15 | ||||||||||
Interest cost on benefit obligation | 110 | 107 | ||||||||||
Net actuarial loss (gain) amortization | -43 | 4 | ||||||||||
Retiree benefit plans cost | $ | 197 | $ | 267 | ||||||||
Income_Taxes
Income Taxes | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Income Taxes | ' | |||||||||||
10. INCOME TAXES | ||||||||||||
Unrecognized Tax Benefits | ||||||||||||
(In millions) | 31-Mar-14 | 31-Dec-13 | ||||||||||
Unrecognized tax benefits | $ | 5,911 | $ | 5,816 | ||||||||
Portion that, if recognized, would reduce tax | ||||||||||||
expense and effective tax rate(a) | 4,223 | 4,307 | ||||||||||
Accrued interest on unrecognized tax benefits | 970 | 975 | ||||||||||
Accrued penalties on unrecognized tax benefits | 169 | 164 | ||||||||||
Reasonably possible reduction to the balance of | ||||||||||||
unrecognized tax benefits in succeeding 12 months | 0-1,150 | 0-900 | ||||||||||
Portion that, if recognized, would reduce tax | ||||||||||||
expense and effective tax rate(a) | 0-400 | 0-350 | ||||||||||
(a) Some portion of such reduction may be reported as discontinued operations. | ||||||||||||
The Internal Revenue Service (IRS) is currently auditing our consolidated U.S. income tax returns for 2010-2011. In addition, certain other U.S. tax deficiency issues and refund claims for previous years are still unresolved. The IRS has disallowed the tax loss on our 2003 disposition of ERC Life Reinsurance Corporation. We have contested the disallowance of this loss. It is reasonably possible that the unresolved items could be resolved during the next 12 months, which could result in a decrease in our balance of unrecognized tax benefits – that is, the aggregate tax effect of differences between tax return positions and the benefits recognized in our financial statements. We believe that there are no other jurisdictions in which the outcome of unresolved issues or claims is likely to be material to our results of operations, financial position or cash flows. We further believe that we have made adequate provision for all income tax uncertainties. |
Shareowners_Equity
Shareowners' Equity | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||||||||||
Shareowners' Equity | ' | ||||||||||||||||
11. SHAREOWNERS' EQUITY | |||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | |||||||||||||||||
Three months ended March 31 | |||||||||||||||||
(In millions) | 2014 | 2013 | |||||||||||||||
Investment securities | |||||||||||||||||
Beginning balance | $ | 307 | $ | 677 | |||||||||||||
Other comprehensive income (loss) (OCI) before reclassifications – | |||||||||||||||||
net of deferred taxes of $246 and $(38) | 447 | -63 | |||||||||||||||
Reclassifications from OCI – net of deferred taxes of $7 and $97 | 10 | 131 | |||||||||||||||
Other comprehensive income (loss)(a) | 457 | 68 | |||||||||||||||
Less: OCI attributable to noncontrolling interests | - | 1 | |||||||||||||||
Ending balance | $ | 764 | $ | 744 | |||||||||||||
Currency translation adjustments (CTA) | |||||||||||||||||
Beginning balance | $ | 126 | $ | 412 | |||||||||||||
OCI before reclassifications – net of deferred taxes of $71 and $(204) | 47 | -471 | |||||||||||||||
Reclassifications from OCI – net of deferred taxes of $124 and $(34) | 2 | 12 | |||||||||||||||
Other comprehensive income (loss)(a) | 49 | -459 | |||||||||||||||
Less: OCI attributable to noncontrolling interests | -2 | -4 | |||||||||||||||
Ending balance | $ | 177 | $ | -43 | |||||||||||||
Cash flow hedges | |||||||||||||||||
Beginning balance | $ | -257 | $ | -722 | |||||||||||||
OCI before reclassifications – net of deferred taxes of $71 and $72 | 99 | -76 | |||||||||||||||
Reclassifications from OCI – net of deferred taxes of $(6) and $(47) | -31 | 178 | |||||||||||||||
Other comprehensive income (loss)(a) | 68 | 102 | |||||||||||||||
Less: OCI attributable to noncontrolling interests | - | - | |||||||||||||||
Ending balance | $ | -189 | $ | -620 | |||||||||||||
Benefit plans | |||||||||||||||||
Beginning balance | $ | -9,296 | $ | -20,597 | |||||||||||||
Net actuarial gain (loss) – net of deferred taxes of $42 and $53 | 172 | 83 | |||||||||||||||
Prior service cost amortization – net of deferred taxes of $64 and $67 | 93 | 98 | |||||||||||||||
Net actuarial loss amortization – net of deferred taxes | |||||||||||||||||
of $213 and $339 | 430 | 672 | |||||||||||||||
Other comprehensive income (loss)(a) | 695 | 853 | |||||||||||||||
Less: OCI attributable to noncontrolling interests | - | 1 | |||||||||||||||
Ending balance | $ | -8,601 | $ | -19,745 | |||||||||||||
Accumulated other comprehensive income (loss) at March 31 | $ | -7,849 | $ | -19,664 | |||||||||||||
Total other comprehensive income (loss) was $1,269 million and $564 million for the three months ended March 31, 2014 and 2013, respectively. | |||||||||||||||||
Reclassification out of AOCI | |||||||||||||||||
Three months ended March 31 | |||||||||||||||||
(In millions) | 2014 | 2013 | Statement of Earnings Caption | ||||||||||||||
Available-for-sale securities | |||||||||||||||||
Realized gains (losses) on | |||||||||||||||||
sale/impairment of securities | $ | -17 | $ | -228 | Other income | ||||||||||||
7 | 97 | Benefit (provision) for income taxes | |||||||||||||||
$ | -10 | $ | -131 | Net of tax | |||||||||||||
Currency translation adjustments | |||||||||||||||||
Gains (losses) on dispositions | $ | -126 | $ | 22 | Costs and expenses | ||||||||||||
124 | -34 | Benefit (provision) for income taxes | |||||||||||||||
$ | -2 | $ | -12 | Net of tax | |||||||||||||
Cash flow hedges | |||||||||||||||||
Gains (losses) on interest rate derivatives | $ | -69 | $ | -102 | Interest and other financial charges | ||||||||||||
Foreign exchange contracts | 128 | -51 | (a) | ||||||||||||||
Other | -22 | 22 | (b) | ||||||||||||||
37 | -131 | Total before tax | |||||||||||||||
-6 | -47 | Benefit (provision) for income taxes | |||||||||||||||
$ | 31 | $ | -178 | Net of tax | |||||||||||||
Benefit plan items | |||||||||||||||||
Amortization of prior service costs | $ | -157 | $ | -165 | (c) | ||||||||||||
Amortization of actuarial gains (losses) | -643 | -1,011 | (c) | ||||||||||||||
-800 | -1,176 | Total before tax | |||||||||||||||
277 | 406 | Benefit (provision) for income taxes | |||||||||||||||
$ | -523 | $ | -770 | Net of tax | |||||||||||||
Total reclassification adjustments | $ | -504 | $ | -1,091 | Net of tax | ||||||||||||
Included $134 million and $(33) million in GECC revenues from services and $(6) million and $(18) million in interest and other financial charges for the three months ended March 31, 2014 and 2013, respectively. | |||||||||||||||||
Primarily recorded 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 9 for further information. | |||||||||||||||||
Noncontrolling Interests | |||||||||||||||||
Three months ended March 31 | |||||||||||||||||
(In millions) | 2014 | 2013 | |||||||||||||||
Beginning balance | $ | 6,217 | $ | 5,444 | |||||||||||||
Net earnings (loss) | -33 | -16 | |||||||||||||||
Dividends | -10 | -18 | |||||||||||||||
Dispositions | - | -104 | |||||||||||||||
Other (including AOCI) | 9 | 30 | |||||||||||||||
Ending balance | $ | 6,183 | $ | 5,336 | |||||||||||||
GECC preferred stock is presented as noncontrolling interests in the GE consolidated statement of financial position. | |||||||||||||||||
Other | |||||||||||||||||
GE's authorized common stock consists of 13,200,000,000 shares having a par value of $0.06 each. | |||||||||||||||||
GECC paid quarterly dividends of $500 million and no special dividends to GE in the three months ended March 31, 2014. There were no dividends paid to GE in the three months ended March 31, 2013. | |||||||||||||||||
GECC_Revenues_From_Services
GECC Revenues From Services | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Financial Services Revenue [Abstract] | ' | |||||||||||
GECC Revenues From Services | ' | |||||||||||
12. GECC REVENUES FROM SERVICES | ||||||||||||
Three months ended March 31 | ||||||||||||
(In millions) | 2014 | 2013 | ||||||||||
Interest on loans | $ | 4,256 | $ | 4,490 | ||||||||
Equipment leased to others | 2,661 | 2,529 | ||||||||||
Fees | 1,114 | 1,130 | ||||||||||
Investment income(a) | 556 | 414 | ||||||||||
Financing leases | 389 | 436 | ||||||||||
Associated companies | 373 | 173 | ||||||||||
Premiums earned by insurance activities | 352 | 395 | ||||||||||
Real estate investments(b) | 343 | 1,300 | ||||||||||
Other items | 444 | 575 | ||||||||||
10,488 | 11,442 | |||||||||||
Eliminations | -356 | -301 | ||||||||||
Total | $ | 10,132 | $ | 11,141 | ||||||||
Included net other-than-temporary impairments on investment securities of $34 million and $278 million in the three months ended March 31, 2014 and 2013, respectively. | ||||||||||||
During the three months ended March 31, 2013, we sold real estate comprising certain floors located at 30 Rockefeller Center, New York for a pre-tax gain of $902 million. | ||||||||||||
Earnings_Per_Share_Information
Earnings Per Share Information | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Earnings Per Share Information | ' | |||||||||||
13. EARNINGS PER SHARE INFORMATION | ||||||||||||
Three months ended March 31 | ||||||||||||
2014 | 2013 | |||||||||||
(In millions; per-share amounts in dollars) | Diluted | Basic | Diluted | Basic | ||||||||
Amounts attributable to the Company: | ||||||||||||
Consolidated | ||||||||||||
Earnings from continuing operations attributable to | ||||||||||||
common shareowners for per-share calculation(a) | $ | 2,983 | $ | 2,983 | $ | 3,642 | $ | 3,642 | ||||
Earnings (loss) from discontinued operations | ||||||||||||
for per-share calculation(a) | 12 | 12 | -120 | -120 | ||||||||
Net earnings attributable to GE common | ||||||||||||
shareowners for per-share calculation(a) | $ | 2,995 | $ | 2,995 | $ | 3,522 | $ | 3,522 | ||||
Average equivalent shares | ||||||||||||
Shares of GE common stock outstanding | 10,045 | 10,045 | 10,374 | 10,374 | ||||||||
Employee compensation-related shares (including | ||||||||||||
stock options) and warrants | 78 | - | 59 | - | ||||||||
Total average equivalent shares | 10,123 | 10,045 | 10,433 | 10,374 | ||||||||
Per-share amounts | ||||||||||||
Earnings from continuing operations | $ | 0.29 | $ | 0.3 | $ | 0.35 | $ | 0.35 | ||||
Earnings (loss) from discontinued operations | 0 | 0 | -0.01 | -0.01 | ||||||||
Net earnings | 0.3 | 0.3 | 0.34 | 0.34 | ||||||||
Included an insignificant amount of dividend equivalents in each of the periods presented. | ||||||||||||
For the three months ended March 31, 2014 and 2013, there were approximately 72 million and 190 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 | 3 Months Ended | ||||||||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||||||||||||||||
14. FAIR VALUE MEASUREMENTS | |||||||||||||||||||||||||||||||
Recurring Fair Value Measurements | |||||||||||||||||||||||||||||||
Our assets and liabilities measured at fair value on a recurring basis include investment securities primarily supporting obligations to annuitants and policyholders in our run-off insurance operations and supporting obligations to holders of GICs in Trinity and investment securities held in our CLL business collateralized by senior secured loans of high-quality, middle-market companies in a variety of industries. | |||||||||||||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | |||||||||||||||||||||||||||||||
Netting | |||||||||||||||||||||||||||||||
(In millions) | Level 1 | (a) | Level 2 | (a) | Level 3 | adjustment | (b) | Net balance | |||||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||
Investment securities | |||||||||||||||||||||||||||||||
Debt | |||||||||||||||||||||||||||||||
U.S. corporate | $ | - | $ | 19,590 | $ | 3,104 | $ | - | $ | 22,694 | |||||||||||||||||||||
State and municipal | - | 4,834 | 560 | - | 5,394 | ||||||||||||||||||||||||||
Residential mortgage-backed | - | 1,793 | 81 | - | 1,874 | ||||||||||||||||||||||||||
Commercial mortgage-backed | - | 3,112 | 11 | - | 3,123 | ||||||||||||||||||||||||||
Asset-backed(c) | - | 430 | 6,908 | - | 7,338 | ||||||||||||||||||||||||||
Corporate – non-U.S. | 52 | 678 | 1,072 | - | 1,802 | ||||||||||||||||||||||||||
Government – non-U.S. | 1,334 | 823 | 1 | - | 2,158 | ||||||||||||||||||||||||||
U.S. government and federal agency | - | 505 | 232 | - | 737 | ||||||||||||||||||||||||||
Retained interests | - | - | 75 | - | 75 | ||||||||||||||||||||||||||
Equity | |||||||||||||||||||||||||||||||
Available-for-sale | 434 | 25 | 11 | - | 470 | ||||||||||||||||||||||||||
Trading | 66 | 2 | - | - | 68 | ||||||||||||||||||||||||||
Derivatives(d) | - | 7,683 | 163 | -6,300 | 1,546 | ||||||||||||||||||||||||||
Other(e) | - | - | 288 | - | 288 | ||||||||||||||||||||||||||
Total | $ | 1,886 | $ | 39,475 | $ | 12,506 | $ | -6,300 | $ | 47,567 | |||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||
Derivatives | $ | - | $ | 4,692 | $ | 15 | $ | -3,895 | $ | 812 | |||||||||||||||||||||
Other(f) | - | 1,183 | - | - | 1,183 | ||||||||||||||||||||||||||
Total | $ | - | $ | 5,875 | $ | 15 | $ | -3,895 | $ | 1,995 | |||||||||||||||||||||
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 | |||||||||||||||||||||
(a) There were no securities transferred between Level 1 and Level 2 in the three months ended March 31, 2014. | |||||||||||||||||||||||||||||||
(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 includes an adjustment for non-performance risk. The cumulative adjustment was a gain (loss) of $30 million and $(7) million at March 31, 2014 and December 31, 2013, respectively. See Note 15 for additional information on the composition of our derivative portfolio. | |||||||||||||||||||||||||||||||
(e) Includes 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. | |||||||||||||||||||||||||||||||
Level 3 Instruments | |||||||||||||||||||||||||||||||
The majority of our Level 3 balances consist of investment securities classified as available-for-sale with changes in fair value recorded in shareowners' equity. | |||||||||||||||||||||||||||||||
Changes in Level 3 Instruments for the Three Months Ended | |||||||||||||||||||||||||||||||
Net | |||||||||||||||||||||||||||||||
change in | |||||||||||||||||||||||||||||||
Net | Net | unrealized | |||||||||||||||||||||||||||||
realized/ | realized/ | gains | |||||||||||||||||||||||||||||
unrealized | unrealized | (losses) | |||||||||||||||||||||||||||||
gains | gains | relating to | |||||||||||||||||||||||||||||
Balance | (losses) | (losses) | Transfers | Transfers | Balance | instruments | |||||||||||||||||||||||||
at | included | included | into | out of | at | still held at | |||||||||||||||||||||||||
(In millions) | 1-Jan | in earnings | (a) | in AOCI | Purchases | Sales | Settlements | Level 3(b) | Level 3(b) | 31-Mar | 31-Mar | (c) | |||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||
Investment securities | |||||||||||||||||||||||||||||||
Debt | |||||||||||||||||||||||||||||||
U.S. corporate | $ | 2,953 | $ | 8 | $ | 60 | $ | 153 | $ | -2 | $ | -112 | $ | 97 | $ | -53 | $ | 3,104 | $ | - | |||||||||||
State and municipal | 96 | - | 27 | 9 | - | -7 | 435 | - | 560 | - | |||||||||||||||||||||
RMBS | 86 | - | -1 | - | - | -4 | - | - | 81 | - | |||||||||||||||||||||
CMBS | 10 | - | - | - | - | -1 | 2 | - | 11 | - | |||||||||||||||||||||
ABS | 6,898 | 1 | -27 | 405 | - | -369 | - | - | 6,908 | - | |||||||||||||||||||||
Corporate – non-U.S. | 1,064 | -21 | 47 | 219 | -2 | -235 | - | - | 1,072 | - | |||||||||||||||||||||
Government – non-U.S. | 31 | - | - | - | - | - | - | -30 | 1 | - | |||||||||||||||||||||
U.S. government and | |||||||||||||||||||||||||||||||
federal agency | 225 | - | 9 | - | - | - | - | -2 | 232 | - | |||||||||||||||||||||
Retained interests | 72 | 2 | 3 | 1 | - | -3 | - | - | 75 | - | |||||||||||||||||||||
Equity | |||||||||||||||||||||||||||||||
Available-for-sale | 11 | - | - | - | - | - | - | - | 11 | - | |||||||||||||||||||||
Derivatives(d)(e) | 164 | -7 | - | - | - | 2 | -1 | - | 158 | - | |||||||||||||||||||||
Other | 494 | 3 | - | 83 | -13 | - | - | -279 | 288 | -9 | |||||||||||||||||||||
Total | $ | 12,104 | $ | -14 | $ | 118 | $ | 870 | $ | -17 | $ | -729 | $ | 533 | $ | -364 | $ | 12,501 | $ | -9 | |||||||||||
2013 | |||||||||||||||||||||||||||||||
Investment securities | |||||||||||||||||||||||||||||||
Debt | |||||||||||||||||||||||||||||||
U.S. corporate | $ | 3,591 | $ | -271 | $ | 219 | $ | 63 | $ | -6 | $ | -45 | $ | 93 | $ | -73 | $ | 3,571 | $ | - | |||||||||||
State and municipal | 77 | - | - | 4 | - | -1 | 10 | - | 90 | - | |||||||||||||||||||||
RMBS | 100 | - | -3 | - | - | -1 | - | - | 96 | - | |||||||||||||||||||||
CMBS | 6 | - | - | - | - | - | - | - | 6 | - | |||||||||||||||||||||
ABS | 5,023 | 1 | -2 | 144 | - | -262 | 12 | - | 4,916 | - | |||||||||||||||||||||
Corporate – non-U.S. | 1,218 | 8 | 19 | 825 | -3 | -733 | 15 | - | 1,349 | - | |||||||||||||||||||||
Government – non-U.S. | 42 | - | -1 | - | - | - | - | - | 41 | - | |||||||||||||||||||||
U.S. government and | |||||||||||||||||||||||||||||||
federal agency | 277 | - | -13 | - | - | - | - | - | 264 | - | |||||||||||||||||||||
Retained interests | 83 | 3 | 10 | - | - | -5 | - | - | 91 | - | |||||||||||||||||||||
Equity | |||||||||||||||||||||||||||||||
Available-for-sale | 13 | - | - | - | - | - | - | -2 | 11 | - | |||||||||||||||||||||
Derivatives(d)(e) | 416 | -19 | - | -1 | - | -53 | - | - | 343 | 12 | |||||||||||||||||||||
Other | 799 | -22 | - | 57 | -55 | - | - | - | 779 | -21 | |||||||||||||||||||||
Total | $ | 11,645 | $ | -300 | $ | 229 | $ | 1,092 | $ | -64 | $ | -1,100 | $ | 130 | $ | -75 | $ | 11,557 | $ | -9 | |||||||||||
Earnings effects are primarily included in the GECC revenues from services and Interest and other financial charges captions in the Condensed Statement of Earnings. | |||||||||||||||||||||||||||||||
Transfers in and out of Level 3 are considered to occur at the beginning of the period. Transfers out of Level 3 were primarily a result of increased use of quotes from independent pricing vendors based on recent trading activity. | |||||||||||||||||||||||||||||||
Represents the amount of unrealized gains or losses for the period included in earnings. | |||||||||||||||||||||||||||||||
Represents derivative assets net of derivative liabilities and included cash accruals of $10 million and $4 million not reflected in the fair value hierarchy table for the three months ended March 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||
Gains (losses) included in “net realized/unrealized gains (losses) included in earnings” were offset by the earnings effects from the underlying items that were economically hedged. See Note 15. | |||||||||||||||||||||||||||||||
Non-Recurring Fair Value Measurements | |||||||||||||||||||||||||||||||
The following table represents non-recurring fair value amounts (as measured at the time of the adjustment) for those assets remeasured to fair value on a non-recurring basis during the fiscal year and still held at March 31, 2014 and December 31, 2013. | |||||||||||||||||||||||||||||||
Remeasured during | Remeasured during | ||||||||||||||||||||||||||||||
the three months ended | the year ended | ||||||||||||||||||||||||||||||
31-Mar-14 | 31-Dec-13 | ||||||||||||||||||||||||||||||
(In millions) | Level 2 | Level 3 | Level 2 | Level 3 | |||||||||||||||||||||||||||
Financing receivables and loans held for sale | $ | 87 | $ | 1,596 | $ | 210 | $ | 2,986 | |||||||||||||||||||||||
Cost and equity method investments | - | 354 | - | 690 | |||||||||||||||||||||||||||
Long-lived assets, including real estate | 326 | 192 | 2,050 | 1,088 | |||||||||||||||||||||||||||
Total | $ | 413 | $ | 2,142 | $ | 2,260 | $ | 4,764 | |||||||||||||||||||||||
The following table represents the fair value adjustments to assets measured at fair value on a non-recurring basis and still held at March 31, 2014 and 2013. | |||||||||||||||||||||||||||||||
Three months ended March 31 | |||||||||||||||||||||||||||||||
(In millions) | 2014 | 2013 | |||||||||||||||||||||||||||||
Financing receivables and loans held for sale | $ | -113 | $ | -128 | |||||||||||||||||||||||||||
Cost and equity method investments | -208 | -81 | |||||||||||||||||||||||||||||
Long-lived assets, including real estate | -75 | -390 | |||||||||||||||||||||||||||||
Total | $ | -396 | $ | -599 | |||||||||||||||||||||||||||
Level 3 Measurements - Significant Unobservable Inputs | |||||||||||||||||||||||||||||||
Range | |||||||||||||||||||||||||||||||
(Dollars in millions) | Fair value | Valuation technique | Unobservable inputs | (weighted average) | |||||||||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||||||||||||
Recurring fair value measurements | |||||||||||||||||||||||||||||||
Investment securities – Debt | |||||||||||||||||||||||||||||||
U.S. corporate | $ | 947 | Income approach | Discount rate(a) | 1.5%-8.9% (5.0%) | ||||||||||||||||||||||||||
State and Municipal | 469 | Income approach | Discount rate(a) | 1.8%-6.0% (3.3%) | |||||||||||||||||||||||||||
Asset-backed | 6,868 | Income approach | Discount rate(a) | 1.3%-9.5% (3.8%) | |||||||||||||||||||||||||||
Corporate – non-U.S. | 776 | Income approach | Discount rate(a) | 1.4%-46.0% (15.3%) | |||||||||||||||||||||||||||
Other financial assets | 278 | Income approach, Market comparables | Revenue multiple | 1.7X-1.7X (1.7X) | |||||||||||||||||||||||||||
EBITDA multiple | 5.4X-8.9X (6.9X) | ||||||||||||||||||||||||||||||
Discount rate(a) | 3.9%-5.6% (4.8%) | ||||||||||||||||||||||||||||||
Capitalization rate(b) | 7.3%-8.8% (7.6%) | ||||||||||||||||||||||||||||||
Non-recurring fair value measurements | |||||||||||||||||||||||||||||||
Financing receivables and loans held for sale | $ | 995 | Income approach, Business enterprise value | Capitalization rate(b) | 2.7%-11.3% (6.5%) | ||||||||||||||||||||||||||
EBITDA multiple | 4.3X-6.5X (5.9X) | ||||||||||||||||||||||||||||||
WACC(c) | 19.0%-19.0% (19.0%) | ||||||||||||||||||||||||||||||
Cost and equity method investments | 137 | Income approach, Business enterprise value, Market comparables | Discount rate(a) | 8.0%-10.0% (8.5%) | |||||||||||||||||||||||||||
EBITDA multiple | 6.0X-9.0X (9.0X) | ||||||||||||||||||||||||||||||
Revenue multiple | 2.9X-2.9X (2.9X) | ||||||||||||||||||||||||||||||
Long-lived assets, including real estate | 5 | Income approach | Capitalization rate(b) | 9.4%-15.3% (12.0%) | |||||||||||||||||||||||||||
Discount rate(a) | 4.0%-19.0% (8.3%) | ||||||||||||||||||||||||||||||
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 | WACC(c) | 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, | Capitalization rate(b) | 5.5%-16.7% (8.0%) | ||||||||||||||||||||||||||
Business enterprise value | 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%) | ||||||||||||||||||||||||||||||
WACC(c) | 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%) | ||||||||||||||||||||||||||||||
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. | |||||||||||||||||||||||||||||||
Weighted average cost of capital (WACC). | |||||||||||||||||||||||||||||||
At March 31, 2014 and December 31, 2013, other Level 3 recurring fair value measurements of $2,968 million and $2,816 million, respectively, and non-recurring measurements of $730 million and $1,460 million, respectively, are valued using non-binding broker quotes or other third-party sources. At March 31, 2014 and December 31, 2013, other recurring fair value measurements of $185 million and $327 million, respectively, and non-recurring fair value measurements of $275 million and $571 million, respectively, were individually insignificant and utilize a number of different unobservable inputs not subject to meaningful aggregation. |
Financial_Instruments
Financial Instruments | 3 Months Ended | |||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||
Financial Instruments [Abstract] | ' | |||||||||||||||||
Financial Instruments | ' | |||||||||||||||||
15. FINANCIAL INSTRUMENTS | ||||||||||||||||||
The following table provides information about assets and liabilities not carried at fair value. The table excludes finance leases and non-financial assets and liabilities. Substantially all of the assets discussed below are considered to be Level 3. The vast majority of our liabilities' fair value can be determined based on significant observable inputs and thus considered Level 2. Few of the instruments are actively traded and their fair values must often be determined using financial models. Realization of the fair value of these instruments depends upon market forces beyond our control, including marketplace liquidity. | ||||||||||||||||||
31-Mar-14 | 31-Dec-13 | |||||||||||||||||
Assets (liabilities) | Assets (liabilities) | |||||||||||||||||
Carrying | Carrying | |||||||||||||||||
Notional | amount | Estimated | Notional | amount | Estimated | |||||||||||||
(In millions) | amount | (net) | fair value | amount | (net) | fair value | ||||||||||||
GE | ||||||||||||||||||
Assets | ||||||||||||||||||
Investments and notes | ||||||||||||||||||
receivable | $ | (a) | $ | 486 | $ | 533 | $ | (a) | $ | 488 | $ | 512 | ||||||
Liabilities | ||||||||||||||||||
Borrowings(b) | (a) | -16,016 | -16,824 | (a) | -13,356 | -13,707 | ||||||||||||
GECC | ||||||||||||||||||
Assets | ||||||||||||||||||
Loans | (a) | 221,187 | 225,454 | (a) | 226,293 | 230,792 | ||||||||||||
Other commercial mortgages | (a) | 2,261 | 2,269 | (a) | 2,270 | 2,281 | ||||||||||||
Loans held for sale | (a) | 1,078 | 1,078 | (a) | 512 | 512 | ||||||||||||
Other financial instruments(c) | (a) | 1,541 | 2,201 | (a) | 1,622 | 2,203 | ||||||||||||
Liabilities | ||||||||||||||||||
Borrowings and bank | ||||||||||||||||||
deposits(b)(d) | (a) | -365,223 | -381,050 | (a) | -371,062 | -386,823 | ||||||||||||
Investment contract benefits | (a) | -3,107 | -3,666 | (a) | -3,144 | -3,644 | ||||||||||||
Guaranteed investment contracts | (a) | -1,441 | -1,429 | (a) | -1,471 | -1,459 | ||||||||||||
Insurance – credit life(e) | 2,163 | -110 | -96 | 2,149 | -108 | -94 | ||||||||||||
(a) These financial instruments do not have notional amounts. | ||||||||||||||||||
(b) See Note 8. | ||||||||||||||||||
(c) Principally comprises cost method investments. | ||||||||||||||||||
(d) Fair values exclude interest rate and currency derivatives designated as hedges of borrowings. Had they been included, the fair value of borrowings at March 31, 2014 and December 31, 2013 would have been reduced by $3,506 million and $2,284 million, respectively. | ||||||||||||||||||
(e) Net of reinsurance of $1,250 million at both March 31, 2014 and December 31, 2013. | ||||||||||||||||||
Notional Amounts of Loan Commitments | ||||||||||||||||||
(In millions) | 31-Mar-14 | 31-Dec-13 | ||||||||||||||||
Ordinary course of business lending commitments(a) | $ | 5,102 | $ | 4,756 | ||||||||||||||
Unused revolving credit lines(b) | ||||||||||||||||||
Commercial(c) | 15,497 | 16,570 | ||||||||||||||||
Consumer – principally credit cards | 296,296 | 290,662 | ||||||||||||||||
(a) Excluded investment commitments of $1,383 million and $1,395 million at March 31, 2014 and December 31, 2013, respectively. | ||||||||||||||||||
(b) Excluded inventory financing arrangements, which may be withdrawn at our option, of $12,650 million and $13,502 million at March 31, 2014 and December 31, 2013, respectively. | ||||||||||||||||||
(c) Included commitments of $11,952 million and $11,629 million at March 31, 2014 and December 31, 2013, respectively, associated with secured financing arrangements that could have increased to a maximum of $15,472 million and $14,590 million at March 31, 2014 and December 31, 2013, respectively, based on asset volume under the arrangement. | ||||||||||||||||||
Securities Repurchase and Reverse Repurchase Arrangements | ||||||||||||||||||
Our issuances of securities repurchase agreements are insignificant and are limited to activities at certain of our foreign banks primarily for purposes of liquidity management. At March 31, 2014, we were party to repurchase agreements totaling $134 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 March 31, 2014, we were party to reverse repurchase agreements totaling $19.9 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 $336,000 million, approximately 87% or $293,000 million, is associated with reducing or eliminating the interest rate, currency or market risk between financial assets and liabilities in our financial services businesses. The remaining derivative activities primarily relate to hedging against adverse changes in currency exchange rates and commodity prices related to anticipated sales and purchases and contracts containing certain clauses that meet the accounting definition of a derivative. The instruments used in these activities are designated as hedges when practicable. When we are not able to apply hedge accounting, or when the derivative and the hedged item are both recorded in earnings concurrently, the derivatives are deemed economic hedges and hedge accounting is not applied. This most frequently occurs when we hedge a recognized foreign currency transaction (e.g., a receivable or payable) with a derivative. Since the effects of changes in exchange rates are reflected concurrently in earnings for both the derivative and the transaction, the economic hedge does not require hedge accounting. | ||||||||||||||||||
Fair Value of Derivatives | ||||||||||||||||||
31-Mar-14 | 31-Dec-13 | |||||||||||||||||
(In millions) | Assets | Liabilities | Assets | Liabilities | ||||||||||||||
Derivatives accounted for as hedges | ||||||||||||||||||
Interest rate contracts | $ | 4,187 | $ | 1,350 | $ | 3,837 | $ | 1,989 | ||||||||||
Currency exchange contracts | 1,330 | 1,183 | 1,830 | 984 | ||||||||||||||
Other contracts | 1 | 2 | 1 | - | ||||||||||||||
5,518 | 2,535 | 5,668 | 2,973 | |||||||||||||||
Derivatives not accounted for as hedges | ||||||||||||||||||
Interest rate contracts | 289 | 145 | 270 | 169 | ||||||||||||||
Currency exchange contracts | 1,814 | 1,979 | 2,257 | 2,245 | ||||||||||||||
Other contracts | 225 | 48 | 284 | 42 | ||||||||||||||
2,328 | 2,172 | 2,811 | 2,456 | |||||||||||||||
Gross derivatives recognized in statement of | ||||||||||||||||||
financial position | ||||||||||||||||||
Gross derivatives | 7,846 | 4,707 | 8,479 | 5,429 | ||||||||||||||
Gross accrued interest | 1,183 | 41 | 1,227 | 241 | ||||||||||||||
9,029 | 4,748 | 9,706 | 5,670 | |||||||||||||||
Amounts offset in statement of financial position | ||||||||||||||||||
Netting adjustments(a) | -3,556 | -3,586 | -4,120 | -4,113 | ||||||||||||||
Cash collateral(b) | -2,744 | -309 | -2,619 | -242 | ||||||||||||||
-6,300 | -3,895 | -6,739 | -4,355 | |||||||||||||||
Net derivatives recognized in statement of | ||||||||||||||||||
financial position | ||||||||||||||||||
Net derivatives | 2,729 | 853 | 2,967 | 1,315 | ||||||||||||||
Amounts not offset in statement of | ||||||||||||||||||
financial position | ||||||||||||||||||
Securities held as collateral(c) | -1,655 | - | -1,962 | - | ||||||||||||||
Net amount | $ | 1,074 | $ | 853 | $ | 1,005 | $ | 1,315 | ||||||||||
Derivatives are classified in 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 include fair value adjustments related to our own and counterparty non-performance risk. At March 31, 2014 and December 31, 2013, the cumulative adjustment for non-performance risk was a gain (loss) of $30 million and $(7) million, respectively. | ||||||||||||||||||
(b) Excludes excess cash collateral received and posted of $177 million and $56 million at March 31, 2014, respectively, and $160 million and $37 million at December 31, 2013, respectively. | ||||||||||||||||||
(c) Excludes excess securities collateral received of $75 million and $363 million at March 31, 2014 and December 31, 2013, respectively. | ||||||||||||||||||
Fair value hedges | ||||||||||||||||||
We use interest rate and currency exchange derivatives to hedge the fair value effects of interest rate and currency exchange rate changes on local and non-functional currency denominated fixed-rate debt. For relationships designated as fair value hedges, changes in fair value of the derivatives are recorded in earnings within interest and other financial charges, along with offsetting adjustments to the carrying amount of the hedged debt. | ||||||||||||||||||
Earnings Effect of Fair Value Hedging Relationships | ||||||||||||||||||
Three months ended March 31 | ||||||||||||||||||
2014 | 2013 | |||||||||||||||||
Gain (loss) | Gain (loss) | Gain (loss) | Gain (loss) | |||||||||||||||
on hedging | on hedged | on hedging | on hedged | |||||||||||||||
(In millions) | derivatives | items | derivatives | items | ||||||||||||||
Interest rate contracts | $ | 990 | $ | -1,005 | $ | -914 | $ | 881 | ||||||||||
Currency exchange contracts | 2 | -3 | -9 | 8 | ||||||||||||||
Fair value hedges resulted in $(16) million and $(34) million of ineffectiveness in the three months ended March 31, 2014 and 2013, respectively. In both the three months ended March 31, 2014 and 2013, 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. | ||||||||||||||||||
Gains (Losses) Recognized through AOCI | ||||||||||||||||||
Gain (loss) reclassified | ||||||||||||||||||
Gain (loss) recognized in AOCI | from AOCI into earnings | |||||||||||||||||
for the three months ended March 31 | for the three months ended March 31 | |||||||||||||||||
(In millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||
Interest rate contracts | $ | 3 | $ | -11 | $ | -69 | $ | -102 | ||||||||||
Currency exchange contracts | 156 | 4 | 108 | -28 | ||||||||||||||
Commodity contracts | -2 | -1 | -2 | -1 | ||||||||||||||
Total(a) | $ | 157 | $ | -8 | $ | 37 | $ | -131 | ||||||||||
Gain (loss) is recorded in GECC revenues from services, interest and other financial charges, and other costs and expenses when reclassified to earnings. | ||||||||||||||||||
The total pre-tax amount in AOCI related to cash flow hedges of forecasted transactions was a $118 million loss at March 31, 2014. We expect to transfer $160 million to earnings as an expense in the next 12 months contemporaneously with the earnings effects of the related forecasted transactions. In both the three months ended March 31, 2014 and 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 March 31, 2014 and 2013, the maximum term of derivative instruments that hedge forecasted transactions was 19 years and 20 years, respectively. See Note 11 for additional information about reclassifications out of AOCI. | ||||||||||||||||||
For cash flow hedges, the amount of ineffectiveness in the hedging relationship and amount of the changes in fair value of the derivatives that are not included in the measurement of ineffectiveness were insignificant for each reporting period. | ||||||||||||||||||
Net investment hedges in foreign operations | ||||||||||||||||||
We use currency exchange derivatives to protect our net investments in global operations conducted in non-U.S. dollar currencies. For derivatives that are designated as hedges of net investment in a foreign operation, we assess effectiveness based on changes in spot currency exchange rates. Changes in spot rates on the derivative are recorded as a component of AOCI until such time as the foreign entity is substantially liquidated or sold, or upon the loss of a controlling interest in a foreign entity. The change in fair value of the forward points, which reflects the interest rate differential between the two countries on the derivative, is excluded from the effectiveness assessment. | ||||||||||||||||||
Gains (Losses) Recognized through CTA | ||||||||||||||||||
Gain (loss) recognized in CTA | Gain (loss) reclassified from CTA | |||||||||||||||||
for the three months ended March 31 | for the three months ended March 31 | |||||||||||||||||
(In millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||
Currency exchange contracts(a) | $ | -1,033 | $ | 2,105 | $ | 10 | $ | -124 | ||||||||||
Gain (loss) is recorded in GECC revenues from services when reclassified out of AOCI. | ||||||||||||||||||
The amounts related to the change in the fair value of the forward points that are excluded from the measure of effectiveness were $(142) million and $(166) million in the three months ended March 31, 2014 and 2013, respectively, and were recorded in interest and other financial charges. | ||||||||||||||||||
Free-standing derivatives | ||||||||||||||||||
Changes in the fair value of derivatives that are not designated as hedges are recorded in earnings each period. As discussed above, these derivatives are typically entered into as economic hedges of changes in interest rates, currency exchange rates, commodity prices and other risks. Gains or losses related to the derivative are typically recorded in GECC revenues from services or other income, based on our accounting policy. In general, the earnings effects of the item that represent the economic risk exposure are recorded in the same caption as the derivative. Gains (losses) for the three months ended March 31, 2014 on derivatives not designated as hedges were $1,108 million composed of amounts related to interest rate contracts of $11 million, currency exchange contracts of $1,126 million, and other derivatives of $(29) million. These gains were more than offset by the earnings effects from the underlying items that were economically hedged. Gains (losses) for the three months ended March 31, 2013 on derivatives not designated as hedges were $(686) million composed of amounts related to interest rate contracts of $(62) million, currency exchange contracts of $(720) million, and other derivatives of $96 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 $4,399 million at March 31, 2014, of which $2,744 million was cash and $1,655 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 $309 million at March 31, 2014. At March 31, 2014, our exposure to counterparties (including accrued interest), net of collateral we hold, was $962 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 $783 million at March 31, 2014. This excludes embedded derivatives. | ||||||||||||||||||
Variable_Interest_Entities
Variable Interest Entities | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Variable Interest Entities [Abstract] | ' | ||||||||||||||||||||
Variable Interest Entities | ' | ||||||||||||||||||||
16. VARIABLE INTEREST ENTITIES | |||||||||||||||||||||
We use variable interest entities primarily to securitize financial assets and arrange other forms of asset-backed financing in the ordinary course of business. Except as noted below, investors in these entities only have recourse to the assets owned by the entity and not to our general credit. We do not have implicit support arrangements with any VIE. We did not provide non-contractual support for previously transferred financing receivables to any VIE in 2014 or 2013. | |||||||||||||||||||||
Consolidated Variable Interest Entities | |||||||||||||||||||||
We consolidate VIEs because we have the power to direct the activities that significantly affect the VIE's economic performance, typically because of our role as either servicer or manager for the VIE. Our consolidated VIEs fall into three main groups, which are further described below: | |||||||||||||||||||||
Trinity comprises two consolidated entities that hold investment securities, the majority of which are investment-grade, and were funded by the issuance of GICs. The GICs include conditions under which certain holders could require immediate repayment of their investment should the long-term credit ratings of GECC fall below AA-/Aa3 or the short-term credit ratings fall below A-1+/P-1. The outstanding GICs are subject to their scheduled maturities and individual terms, which may include provisions permitting redemption upon a downgrade of one or more of GECC's ratings, among other things, and are reported in investment contracts, insurance liabilities and insurance annuity benefits. | |||||||||||||||||||||
Consolidated Securitization Entities (CSEs) were created to facilitate securitization of financial assets and other forms of asset-backed financing that serve as an alternative funding source by providing access to variable funding notes and term markets. The securitization transactions executed with these entities are similar to those used by many financial institutions and 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 with $1,562 million of assets and $713 million of liabilities; (2) other entities that are involved in power generating and leasing activities with $733 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 with $1,195 million of assets and $525 million of liabilities. | |||||||||||||||||||||
Assets and Liabilities of Consolidated VIEs | |||||||||||||||||||||
Consolidated Securitization Entities | |||||||||||||||||||||
Trade | |||||||||||||||||||||
(In millions) | Trinity(a) | Credit cards | (b) | Equipment | (b) | receivables | Other | Total | |||||||||||||
31-Mar-14 | |||||||||||||||||||||
Assets(c) | |||||||||||||||||||||
Financing receivables, net | $ | - | $ | 23,888 | $ | 13,029 | $ | 2,628 | $ | 2,067 | $ | 41,612 | |||||||||
Investment securities | 2,764 | - | - | - | 1,034 | 3,798 | |||||||||||||||
Other assets | 22 | 122 | 515 | 1 | 2,706 | 3,366 | |||||||||||||||
Total | $ | 2,786 | $ | 24,010 | $ | 13,544 | $ | 2,629 | $ | 5,807 | $ | 48,776 | |||||||||
Liabilities(c) | |||||||||||||||||||||
Borrowings | $ | - | $ | - | $ | - | $ | - | $ | 583 | $ | 583 | |||||||||
Non-recourse borrowings | - | 14,642 | 10,316 | 2,168 | 49 | 27,175 | |||||||||||||||
Other liabilities | 1,454 | 265 | 285 | 28 | 1,458 | 3,490 | |||||||||||||||
Total | $ | 1,454 | $ | 14,907 | $ | 10,601 | $ | 2,196 | $ | 2,090 | $ | 31,248 | |||||||||
31-Dec-13 | |||||||||||||||||||||
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 | |||||||||
(a) Excludes intercompany advances from GECC to Trinity, which are eliminated in consolidation of $1,611 million and $1,837 million at March 31, 2014 and December 31, 2013, 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 March 31, 2014 and December 31, 2013, the amounts of commingled cash owed to the CSEs were $3,106 million and $6,314 million, respectively, and the amounts owed to us by CSEs were $3,115 million and $5,540 million, respectively. | |||||||||||||||||||||
(c) Asset amounts exclude intercompany receivables for cash collected on behalf of the 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 $1,835 million and $1,804 million in the three months ended March 31, 2014 and 2013, respectively. Related expenses consisted primarily of provisions for losses of $301 million and $414 million in the three months ended March 31, 2014 and 2013, respectively, and interest and other financial charges of $81 million and $89 million in the three months ended March 31, 2014 and 2013, respectively. These amounts do not include intercompany revenues and costs, principally fees and interest between GE and the VIEs, which are eliminated in consolidation. | |||||||||||||||||||||
Investments in Unconsolidated Variable Interest Entities | |||||||||||||||||||||
Our involvement with unconsolidated VIEs consists of the following activities: assisting in the formation and financing of the entity; providing recourse and/or liquidity support; servicing the assets; and receiving variable fees for services provided. We are not required to consolidate these entities because the nature of our involvement with the activities of the VIEs does not give us power over decisions that significantly affect their economic performance. | |||||||||||||||||||||
Our largest exposure to any single unconsolidated VIE at March 31, 2014 is a $7,018 million investment in asset-backed securities issued by the Senior Secured Loan Program (“SSLP”), a fund that invests in high-quality senior secured debt of various middle-market companies. Other significant unconsolidated VIEs include investments in real estate entities ($2,261 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 ($2,491 million). | |||||||||||||||||||||
The classification of our variable interests in these entities in our financial statements is based on the nature of the entity and the type of investment we hold. Variable interests in partnerships and corporate entities are classified as either equity method or cost method investments. In the ordinary course of business, we also make investments in entities in which we are not the primary beneficiary but may hold a variable interest such as limited partner interests or mezzanine debt investments. These investments are classified in two captions in our financial statements: “All other assets” for investments accounted for under the equity method, and “Financing receivables – net” for debt financing provided to these entities. | |||||||||||||||||||||
Investments in Unconsolidated VIEs | |||||||||||||||||||||
(In millions) | 31-Mar-14 | 31-Dec-13 | |||||||||||||||||||
Other assets and investment securities | $ | 9,161 | $ | 9,129 | |||||||||||||||||
Financing receivables – net | 3,084 | 3,346 | |||||||||||||||||||
Total investments | 12,245 | 12,475 | |||||||||||||||||||
Contractual obligations to fund investments or guarantees | 2,541 | 2,741 | |||||||||||||||||||
Revolving lines of credit | 36 | 31 | |||||||||||||||||||
Total | $ | 14,822 | $ | 15,247 | |||||||||||||||||
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. |
Intercompany_Transactions
Intercompany Transactions | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Intercompany Transactions [Abstract] | ' | |||||||||||
Intercompany Transactions | ' | |||||||||||
17. INTERCOMPANY TRANSACTIONS | ||||||||||||
Transactions between related companies are made on an arms-length basis, are eliminated and consist primarily of GECC dividends to GE; GE customer receivables sold to GECC; GECC services for trade receivables management and material procurement; buildings and equipment (including automobiles) leased between GE and GECC; information technology (IT) and other services sold to GECC by GE; aircraft engines manufactured by GE that are installed on aircraft purchased by GECC from third-party producers for lease to others; and various investments, loans and allocations of GE corporate overhead costs. | ||||||||||||
These intercompany transactions are reported in the GE and GECC columns of our financial statements, but are eliminated in deriving our consolidated financial statements. Effects of these eliminations on our consolidated cash flows from operating, investing and financing activities are $56 million, $(1,730) million and $1,674 million for the three months ended March 31, 2014, respectively, and $1,357 million, $(1,413) million and $136 million for the three months ended March 31, 2013, respectively. Details of these eliminations are shown below. | ||||||||||||
Three months ended March 31 | ||||||||||||
(In millions) | 2014 | 2013 | ||||||||||
Cash from (used for) operating activities-continuing operations | ||||||||||||
Combined | $ | 4,908 | $ | 3,354 | ||||||||
GE customer receivables sold to GECC | 731 | 976 | ||||||||||
GECC dividends to GE | -500 | - | ||||||||||
Other reclassifications and eliminations | -175 | 381 | ||||||||||
$ | 4,964 | $ | 4,711 | |||||||||
Cash from (used for) investing activities-continuing operations | ||||||||||||
Combined | $ | 3,612 | $ | 32,815 | ||||||||
GE customer receivables sold to GECC | -1,185 | -966 | ||||||||||
Other reclassifications and eliminations | -545 | -447 | ||||||||||
$ | 1,882 | $ | 31,402 | |||||||||
Cash from (used for) financing activities-continuing operations | ||||||||||||
Combined | $ | -10,169 | $ | -23,077 | ||||||||
GE customer receivables sold to GECC | 454 | -10 | ||||||||||
GECC dividends to GE | 500 | - | ||||||||||
Other reclassifications and eliminations | 720 | 146 | ||||||||||
$ | -8,495 | $ | -22,941 | |||||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policy) | 3 Months Ended |
Mar. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation and Summary of Significant Accounting Policies | ' |
1. Basis of Presentation and Summary of Significant Accounting Policies | |
Basis of Presentation | |
The accompanying condensed, consolidated financial statements represent the consolidation of General Electric Company (the Company) and all companies that we directly or indirectly control, either through majority ownership or otherwise. See Note 1 to the consolidated financial statements in our Annual Report on Form 10-K for the fiscal year ended December 31, 2013 (2013 consolidated financial statements), which discusses our consolidation and financial statement presentation. As used in this report on Form 10-Q (Report), “GE” represents the adding together of all affiliated companies except General Electric Capital Corporation (GECC or Financial Services), whose continuing operations are presented on a one-line basis; GECC consists of General Electric Capital Corporation and all of its affiliates; and “Consolidated” represents the adding together of GE and GECC with the effects of transactions between the two eliminated. Unless otherwise indicated, we refer to the caption revenues and other income simply as “revenues” throughout Item 1 of this Form 10-Q. | |
We have reclassified certain prior-period amounts to conform to the current-period presentation. Unless otherwise indicated, information in these notes to the condensed, consolidated financial statements relates to continuing operations. | |
Accounting Changes Policy | ' |
Accounting Changes | |
On January 1, 2014, we adopted Accounting Standards Update (ASU) 2013-05, Foreign Currency Matters (Topic 830): Parent's Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity. Under the revised guidance, the entire amount of the cumulative translation adjustment associated with the foreign entity will be released into earnings in the following circumstances: (a) the sale of a subsidiary or group of net assets within a foreign entity that represents a complete or substantially complete liquidation of that entity, (b) the loss of a controlling financial interest in an investment in a foreign entity, or (c) when the accounting for an investment in a foreign entity changes from the equity method to full consolidation. The revised guidance applies prospectively to transactions or events occurring on or after January 1, 2014. | |
On January 1, 2014, we adopted ASU 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. Under the new guidance, an unrecognized tax benefit is required to be presented as a reduction to a deferred tax asset if the disallowance of the tax position would reduce the available tax loss or tax credit carryforward instead of resulting in a cash tax liability. The ASU applies prospectively to all unrecognized tax benefits that exist as of the adoption date and reduced both deferred tax assets and income tax liabilities by $1,224 million as of January 1, 2014. | |
Interim Period Presentation Policy | ' |
Interim Period Presentation | |
The condensed, consolidated financial statements and notes thereto are unaudited. These statements include all adjustments (consisting of normal recurring accruals) that we considered necessary to present a fair statement of our results of operations, financial position and cash flows. The results reported in these condensed, consolidated financial statements should not be regarded as necessarily indicative of results that may be expected for the entire year. It is suggested that these condensed, consolidated financial statements be read in conjunction with the financial statements and notes thereto included in our 2013 consolidated financial statements. We label our quarterly information using a calendar convention, that is, first quarter is labeled as ending on March 31, second quarter as ending on June 30, and third quarter as ending on September 30. It is our longstanding practice to establish interim quarterly closing dates using a fiscal calendar, which requires our businesses to close their books on either a Saturday or Sunday, depending on the business. The effects of this practice are modest and only exist within a reporting year. The fiscal closing calendar for 2014 is available on our website, www.ge.com/secreports. | |
Summary_of_Operating_Segments_1
Summary of Operating Segments (Tables) | 3 Months Ended | |||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||
Summary of Operating Segments [Abstract] | ' | |||||||||||||||||
Summary of operating segments | ' | |||||||||||||||||
Three months ended March 31 | ||||||||||||||||||
(Dollars in millions) | 2014 | 2013 | V% | |||||||||||||||
Revenues | ||||||||||||||||||
Power & Water | $ | 5,509 | $ | 4,825 | 14% | |||||||||||||
Oil & Gas | 4,308 | 3,399 | 27% | |||||||||||||||
Energy Management | 1,672 | 1,748 | -4% | |||||||||||||||
Aviation | 5,778 | 5,074 | 14% | |||||||||||||||
Healthcare | 4,198 | 4,289 | -2% | |||||||||||||||
Transportation | 1,227 | 1,422 | -14% | |||||||||||||||
Appliances & Lighting | 1,857 | 1,917 | -3% | |||||||||||||||
Total industrial segment revenues | 24,549 | 22,674 | 8% | |||||||||||||||
GE Capital | 10,515 | 11,468 | -8% | |||||||||||||||
Total segment revenues | 35,064 | 34,142 | 3% | |||||||||||||||
Corporate items and eliminations | -886 | 801 | U | |||||||||||||||
Consolidated revenues and other income | $ | 34,178 | $ | 34,943 | -2% | |||||||||||||
Segment profit | ||||||||||||||||||
Power & Water | $ | 888 | $ | 719 | 24% | |||||||||||||
Oil & Gas | 446 | 325 | 37% | |||||||||||||||
Energy Management | 5 | 15 | -67% | |||||||||||||||
Aviation | 1,115 | 936 | 19% | |||||||||||||||
Healthcare | 570 | 595 | -4% | |||||||||||||||
Transportation | 202 | 267 | -24% | |||||||||||||||
Appliances & Lighting | 53 | 79 | -33% | |||||||||||||||
Total industrial segment profit | 3,279 | 2,936 | 12% | |||||||||||||||
GE Capital | 1,933 | 1,938 | -% | |||||||||||||||
Total segment profit | 5,212 | 4,874 | 7% | |||||||||||||||
Corporate items and eliminations | -1,542 | -479 | U | |||||||||||||||
GE interest and other financial charges | -365 | -324 | -13% | |||||||||||||||
GE provision for income taxes | -318 | -424 | 25% | |||||||||||||||
Earnings from continuing operations | ||||||||||||||||||
attributable to the Company | 2,987 | 3,647 | -18% | |||||||||||||||
Earnings (loss) from discontinued operations, | ||||||||||||||||||
net of taxes, attributable to the Company | 12 | -120 | F | |||||||||||||||
Consolidated net earnings attributable to | ||||||||||||||||||
the Company | $ | 2,999 | $ | 3,527 | -15% |
Assets_and_Liabilities_of_Busi1
Assets and Liabilities of Businesses Held For Sale and Discontinued Operations (Tables) | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | |||||||||||
Discontinued Operations | ' | |||||||||||
Three months ended March 31 | ||||||||||||
(In millions) | 2014 | 2013 | ||||||||||
Operations | ||||||||||||
Total revenues and other income (loss) | $ | 29 | $ | 54 | ||||||||
Earnings (loss) from discontinued operations | ||||||||||||
before income taxes | $ | -14 | $ | -142 | ||||||||
Benefit (provision) for income taxes | 7 | 124 | ||||||||||
Earnings (loss) from discontinued operations, | ||||||||||||
net of taxes | $ | -7 | $ | -18 | ||||||||
Disposal | ||||||||||||
Gain (loss) on disposal before income taxes | $ | 18 | $ | -187 | ||||||||
Benefit (provision) for income taxes | 1 | 85 | ||||||||||
Gain (loss) on disposal, net of taxes | $ | 19 | $ | -102 | ||||||||
Earnings (loss) from discontinued operations, | ||||||||||||
net of taxes(a) | $ | 12 | $ | -120 | ||||||||
(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 Condensed Statement of Earnings. | ||||||||||||
(In millions) | 31-Mar-14 | 31-Dec-13 | ||||||||||
Assets | ||||||||||||
Cash and equivalents | $ | 133 | $ | 232 | ||||||||
Financing receivables – net | 1 | 711 | ||||||||||
Other | 1,324 | 1,396 | ||||||||||
Assets of discontinued operations | $ | 1,458 | $ | 2,339 | ||||||||
Liabilities | ||||||||||||
Deferred income taxes | $ | 258 | $ | 248 | ||||||||
Other | 1,008 | 3,685 | ||||||||||
Liabilities of discontinued operations | $ | 1,266 | $ | 3,933 | ||||||||
Rollfoward of WMC's reserve and pending claims for WMC representation and warranty obligations | ' | |||||||||||
Three months ended March 31 | ||||||||||||
(In millions) | 2014 | 2013 | ||||||||||
Balance, beginning of period | $ | 800 | $ | 633 | ||||||||
Provision | - | 107 | ||||||||||
Claim resolutions | -250 | - | ||||||||||
Balance, end of period | $ | 550 | $ | 740 | ||||||||
Investment_Securities_Tables
Investment Securities (Tables) | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||
Investments | ' | |||||||||||||||||||||||
31-Mar-14 | 31-Dec-13 | |||||||||||||||||||||||
Gross | Gross | Gross | Gross | |||||||||||||||||||||
Amortized | unrealized | unrealized | Estimated | Amortized | unrealized | unrealized | Estimated | |||||||||||||||||
(In millions) | cost | gains | losses | fair value | cost | gains | losses | fair value | ||||||||||||||||
GE | ||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||
U.S. corporate | $ | 22 | $ | 11 | $ | - | $ | 33 | $ | 21 | $ | 14 | $ | - | $ | 35 | ||||||||
Corporate – non-U.S. | 13 | - | - | 13 | 13 | - | -1 | 12 | ||||||||||||||||
Equity | ||||||||||||||||||||||||
Available-for-sale | 301 | 9 | -70 | 240 | 302 | 9 | -41 | 270 | ||||||||||||||||
Trading | - | - | - | - | 6 | - | - | 6 | ||||||||||||||||
336 | 20 | -70 | 286 | 342 | 23 | -42 | 323 | |||||||||||||||||
GECC | ||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||
U.S. corporate | 19,711 | 3,088 | -138 | 22,661 | 19,600 | 2,323 | -217 | 21,706 | ||||||||||||||||
State and municipal | 5,115 | 409 | -130 | 5,394 | 4,245 | 235 | -191 | 4,289 | ||||||||||||||||
Residential mortgage- | ||||||||||||||||||||||||
backed(a) | 1,770 | 143 | -39 | 1,874 | 1,819 | 139 | -48 | 1,910 | ||||||||||||||||
Commercial mortgage-backed | 2,986 | 198 | -61 | 3,123 | 2,929 | 188 | -82 | 3,035 | ||||||||||||||||
Asset-backed | 7,347 | 32 | -41 | 7,338 | 7,373 | 60 | -46 | 7,387 | ||||||||||||||||
Corporate – non-U.S. | 1,716 | 137 | -64 | 1,789 | 1,741 | 103 | -86 | 1,758 | ||||||||||||||||
Government – non-U.S. | 2,058 | 103 | -3 | 2,158 | 2,336 | 81 | -7 | 2,410 | ||||||||||||||||
U.S. government and federal | ||||||||||||||||||||||||
agency | 707 | 48 | -18 | 737 | 752 | 45 | -27 | 770 | ||||||||||||||||
Retained interests | 64 | 11 | - | 75 | 64 | 8 | - | 72 | ||||||||||||||||
Equity | ||||||||||||||||||||||||
Available-for-sale | 195 | 46 | -8 | 233 | 203 | 51 | -3 | 251 | ||||||||||||||||
Trading | 68 | - | - | 68 | 74 | - | - | 74 | ||||||||||||||||
41,737 | 4,215 | -502 | 45,450 | 41,136 | 3,233 | -707 | 43,662 | |||||||||||||||||
Eliminations | -3 | - | - | -3 | -4 | - | - | -4 | ||||||||||||||||
Total | $ | 42,070 | $ | 4,235 | $ | -572 | $ | 45,733 | $ | 41,474 | $ | 3,256 | $ | -749 | $ | 43,981 | ||||||||
(a) Substantially collateralized by U.S. mortgages. At March 31, 2014, $1,225 million relates to securities issued by government-sponsored entities and $649 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 | |||||||||||||||||||||
(In millions) | fair value | (a) | losses(a)(b) | fair value | losses(b) | |||||||||||||||||||
31-Mar-14 | ||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||
U.S. corporate | $ | 1,578 | $ | -63 | $ | 563 | $ | -75 | ||||||||||||||||
State and municipal | 942 | -37 | 347 | -93 | ||||||||||||||||||||
Residential mortgage-backed | 187 | -6 | 430 | -33 | ||||||||||||||||||||
Commercial mortgage-backed | 254 | -11 | 803 | -50 | ||||||||||||||||||||
Asset-backed | 101 | -1 | 294 | -40 | ||||||||||||||||||||
Corporate – non-U.S. | 56 | -1 | 430 | -63 | ||||||||||||||||||||
Government – non-U.S. | 1,098 | -3 | 52 | - | ||||||||||||||||||||
U.S. government and federal agency | 238 | -18 | - | - | ||||||||||||||||||||
Retained interests | 1 | - | 1 | - | ||||||||||||||||||||
Equity | 250 | -78 | - | - | ||||||||||||||||||||
Total | $ | 4,705 | $ | -218 | $ | 2,920 | $ | -354 | (c) | |||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
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 | ||||||||||||||||
(a) Includes the estimated fair value of and gross unrealized losses on Corporate-non-U.S. and Equity securities held by GE. At March 31, 2014, the estimated fair value of and gross unrealized losses on Corporate-non-U.S. securities were $13 million and an insignificant amount, respectively. The estimated fair value of and gross unrealized losses on Equity securities were $210 million and $(70) million, respectively. At December 31, 2013, the estimated fair value of and gross unrealized losses on Corporate-non-U.S. securities were $12 million and $(1) million, respectively. The estimated fair value of and gross unrealized losses on Equity securities were $222 million and $(41) million, respectively. | ||||||||||||||||||||||||
(b) Includes gross unrealized losses related to securities that had other-than-temporary impairments previously recognized of $(85) million at March 31, 2014. | ||||||||||||||||||||||||
(c) The majority relate to debt securities held to support obligations to holders of GICs and more than 70% are debt securities that were considered to be investment-grade by the major rating agencies at March 31, 2014. | ||||||||||||||||||||||||
Pre Tax Other Than Temporary Impairments On Investment Securities [TableTextBlock] | ' | |||||||||||||||||||||||
Pre-tax, Other-Than-Temporary Impairments on Investment Securities | ||||||||||||||||||||||||
Three months ended March 31 | ||||||||||||||||||||||||
(In millions) | 2014 | 2013 | ||||||||||||||||||||||
Total pre-tax, OTTI recognized | $ | 38 | $ | 302 | ||||||||||||||||||||
Less: pre-tax, OTTI recognized in AOCI | -4 | -11 | ||||||||||||||||||||||
Pre-tax, OTTI recognized in earnings(a) | $ | 34 | $ | 291 | ||||||||||||||||||||
(a) Included pre-tax, other-than-temporary impairments recorded in earnings related to equity securities of $1 million during both the three months ended March 31, 2014 and 2013. | ||||||||||||||||||||||||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Table Text Block] | ' | |||||||||||||||||||||||
Changes in Cumulative Credit Loss Impairments Recognized on Debt Securities Still Held | ||||||||||||||||||||||||
Three months ended March 31 | ||||||||||||||||||||||||
(In millions) | 2014 | 2013 | ||||||||||||||||||||||
Cumulative credit loss impairments recognized, | ||||||||||||||||||||||||
beginning of period | $ | 1,192 | $ | 588 | ||||||||||||||||||||
Credit loss impairments recognized on securities | ||||||||||||||||||||||||
not previously impaired | - | 263 | ||||||||||||||||||||||
Incremental credit loss impairments recognized | ||||||||||||||||||||||||
on securities previously impaired | 29 | 12 | ||||||||||||||||||||||
Less: credit loss impairments previously | ||||||||||||||||||||||||
recognized on securities sold during the period | -51 | -1 | ||||||||||||||||||||||
Cumulative credit loss impairments recognized, | ||||||||||||||||||||||||
end of period | $ | 1,170 | $ | 862 | ||||||||||||||||||||
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 | $ | 1,870 | $ | 1,887 | ||||||||||||||||||||
After one year through five years | 3,633 | 3,896 | ||||||||||||||||||||||
After five years through ten years | 5,349 | 5,641 | ||||||||||||||||||||||
After ten years | 18,490 | 21,361 | ||||||||||||||||||||||
Supplemental gross realized gains losses on available-for-sale investment securities | ' | |||||||||||||||||||||||
Three months ended March 31 | ||||||||||||||||||||||||
(In millions) | 2014 | 2013 | ||||||||||||||||||||||
GE | ||||||||||||||||||||||||
Gains | $ | - | $ | 1 | ||||||||||||||||||||
Losses, including impairments | - | -13 | ||||||||||||||||||||||
Net | - | -12 | ||||||||||||||||||||||
GECC | ||||||||||||||||||||||||
Gains | 19 | 62 | ||||||||||||||||||||||
Losses, including impairments | -36 | -278 | ||||||||||||||||||||||
Net | -17 | -216 | ||||||||||||||||||||||
Total | $ | -17 | $ | -228 | ||||||||||||||||||||
Inventories_Tables
Inventories (Tables) | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Inventory, Net [Abstract] | ' | |||||||||||
Inventories | ' | |||||||||||
(In millions) | 31-Mar-14 | 31-Dec-13 | ||||||||||
Raw materials and work in process | $ | 10,447 | $ | 10,220 | ||||||||
Finished goods | 7,911 | 6,794 | ||||||||||
Unbilled shipments | 766 | 584 | ||||||||||
19,124 | 17,598 | |||||||||||
Less revaluation to LIFO | -243 | -273 | ||||||||||
Total | $ | 18,881 | $ | 17,325 | ||||||||
GECC_Financing_Receivables_All1
GECC Financing Receivables, Allowance For Losses On Financing Receivables and Supplemental Information On Credit Quality (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Loans and Leases Receivable Disclosure [Abstract] | ' | ||||||||||||||||||||
GECC financing receivables | ' | ||||||||||||||||||||
(In millions) | 31-Mar-14 | 31-Dec-13 | |||||||||||||||||||
Loans, net of deferred income(a) | $ | 226,135 | $ | 231,268 | |||||||||||||||||
Investment in financing leases, net of deferred income | 26,251 | 26,939 | |||||||||||||||||||
252,386 | 258,207 | ||||||||||||||||||||
Allowance for losses | -5,144 | -5,178 | |||||||||||||||||||
Financing receivables – net(b) | $ | 247,242 | $ | 253,029 | |||||||||||||||||
Deferred income was $1,714 million and $2,013 million at March 31, 2014 and December 31, 2013, respectively. | |||||||||||||||||||||
Financing receivables at March 31, 2014 and December 31, 2013 included $532 million and $544 million, respectively, relating to loans that had been acquired in a transfer but have been subject to credit deterioration since origination. | |||||||||||||||||||||
Financing Receivables | ' | ||||||||||||||||||||
(In millions) | 31-Mar-14 | 31-Dec-13 | |||||||||||||||||||
Commercial | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 68,367 | $ | 69,036 | |||||||||||||||||
International | 46,208 | 47,431 | |||||||||||||||||||
Total CLL | 114,575 | 116,467 | |||||||||||||||||||
Energy Financial Services | 2,753 | 3,107 | |||||||||||||||||||
GE Capital Aviation Services (GECAS) | 8,851 | 9,377 | |||||||||||||||||||
Other | 139 | 318 | |||||||||||||||||||
Total Commercial | 126,318 | 129,269 | |||||||||||||||||||
Real Estate | 20,236 | 19,899 | |||||||||||||||||||
Consumer | |||||||||||||||||||||
Non-U.S. residential mortgages | 30,355 | 30,501 | |||||||||||||||||||
Non-U.S. installment and revolving credit | 13,715 | 13,677 | |||||||||||||||||||
U.S. installment and revolving credit | 52,887 | 55,854 | |||||||||||||||||||
Non-U.S. auto | 1,957 | 2,054 | |||||||||||||||||||
Other | 6,918 | 6,953 | |||||||||||||||||||
Total Consumer | 105,832 | 109,039 | |||||||||||||||||||
Total financing receivables | 252,386 | 258,207 | |||||||||||||||||||
Allowance for losses | -5,144 | -5,178 | |||||||||||||||||||
Total financing receivables – net | $ | 247,242 | $ | 253,029 | |||||||||||||||||
Schedule Of Allowance For Losses | ' | ||||||||||||||||||||
Allowance for Losses on Financing Receivables | |||||||||||||||||||||
Provision | |||||||||||||||||||||
Balance at | charged to | Gross | Balance at | ||||||||||||||||||
(In millions) | 1-Jan | operations | Other | (a) | write-offs | (b) | Recoveries | (b) | 31-Mar | ||||||||||||
2014 | |||||||||||||||||||||
Commercial | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 473 | $ | 84 | $ | -1 | $ | -156 | $ | 19 | $ | 419 | |||||||||
International | 505 | 18 | 2 | -100 | 24 | 449 | |||||||||||||||
Total CLL | 978 | 102 | 1 | -256 | 43 | 868 | |||||||||||||||
Energy Financial Services | 8 | 9 | - | -2 | 1 | 16 | |||||||||||||||
GECAS | 17 | 8 | - | - | - | 25 | |||||||||||||||
Other | 2 | - | -2 | - | - | - | |||||||||||||||
Total Commercial | 1,005 | 119 | -1 | -258 | 44 | 909 | |||||||||||||||
Real Estate | 192 | -15 | 2 | -6 | 2 | 175 | |||||||||||||||
Consumer | |||||||||||||||||||||
Non-U.S. residential mortgages | 358 | 10 | 5 | -46 | 9 | 336 | |||||||||||||||
Non-U.S. installment and | |||||||||||||||||||||
revolving credit | 594 | 71 | 8 | -189 | 104 | 588 | |||||||||||||||
U.S. installment and | |||||||||||||||||||||
revolving credit | 2,823 | 752 | 18 | -785 | 139 | 2,947 | |||||||||||||||
Non-U.S. auto | 56 | 12 | 2 | -23 | 14 | 61 | |||||||||||||||
Other | 150 | 21 | -17 | -40 | 14 | 128 | |||||||||||||||
Total Consumer | 3,981 | 866 | 16 | -1,083 | 280 | 4,060 | |||||||||||||||
Total | $ | 5,178 | $ | 970 | $ | 17 | $ | -1,347 | $ | 326 | $ | 5,144 | |||||||||
2013 | |||||||||||||||||||||
Commercial | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 496 | $ | 71 | $ | -1 | $ | -103 | $ | 30 | $ | 493 | |||||||||
International | 525 | 94 | -10 | -150 | 24 | 483 | |||||||||||||||
Total CLL | 1,021 | 165 | -11 | -253 | 54 | 976 | |||||||||||||||
Energy Financial Services | 9 | -1 | - | - | - | 8 | |||||||||||||||
GECAS | 8 | -1 | - | - | - | 7 | |||||||||||||||
Other | 3 | - | - | -1 | - | 2 | |||||||||||||||
Total Commercial | 1,041 | 163 | -11 | -254 | 54 | 993 | |||||||||||||||
Real Estate | 320 | -20 | -6 | -29 | - | 265 | |||||||||||||||
Consumer | |||||||||||||||||||||
Non-U.S. residential mortgages | 480 | 56 | -17 | -55 | 12 | 476 | |||||||||||||||
Non-U.S. installment and | |||||||||||||||||||||
revolving credit | 582 | 180 | -14 | -231 | 140 | 657 | |||||||||||||||
U.S. installment and | |||||||||||||||||||||
revolving credit | 2,282 | 1,014 | -50 | -744 | 163 | 2,665 | |||||||||||||||
Non-U.S. auto | 67 | 17 | -5 | -30 | 17 | 66 | |||||||||||||||
Other | 172 | 47 | 7 | -52 | 7 | 181 | |||||||||||||||
Total Consumer | 3,583 | 1,314 | -79 | -1,112 | 339 | 4,045 | |||||||||||||||
Total | $ | 4,944 | $ | 1,457 | $ | -96 | $ | -1,395 | $ | 393 | $ | 5,303 | |||||||||
Other primarily includes 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. | |||||||||||||||||||||
Nonaccrual Financing Receivables | ' | ||||||||||||||||||||
31-Mar-14 | 31-Dec-13 | ||||||||||||||||||||
Over 30 days | Over 90 days | Over 30 days | Over 90 days | ||||||||||||||||||
past due | past due | Nonaccrual | past due | past due | Nonaccrual | ||||||||||||||||
Commercial | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 713 | $ | 390 | $ | 1,239 | $ | 755 | $ | 359 | $ | 1,275 | |||||||||
International | 1,743 | 946 | 1,415 | 1,490 | 820 | 1,459 | |||||||||||||||
Total CLL | 2,456 | 1,336 | 2,654 | 2,245 | 1,179 | 2,734 | |||||||||||||||
Energy Financial Services | - | - | 43 | - | - | 4 | |||||||||||||||
GECAS | 1 | - | 275 | - | - | - | |||||||||||||||
Other | - | - | - | - | - | 6 | |||||||||||||||
Total Commercial | 2,457 | 1,336 | 2,972 | (a) | 2,245 | 1,179 | 2,744 | (a) | |||||||||||||
Real Estate | 263 | 207 | 2,383 | (b) | 247 | 212 | 2,551 | (b) | |||||||||||||
Consumer | |||||||||||||||||||||
Non-U.S. residential mortgages | 3,130 | 2,082 | 2,140 | 3,406 | 2,104 | 2,161 | |||||||||||||||
Non-U.S. installment and revolving credit | 533 | 152 | 73 | 512 | 146 | 88 | |||||||||||||||
U.S. installment and revolving credit | 2,169 | 1,028 | 2 | 2,442 | 1,105 | 2 | |||||||||||||||
Non-U.S. auto | 93 | 12 | 16 | 89 | 13 | 18 | |||||||||||||||
Other | 165 | 89 | 335 | 172 | 99 | 351 | |||||||||||||||
Total Consumer | 6,090 | 3,363 | (c) | 2,566 | (d) | 6,621 | 3,467 | (c) | 2,620 | (d) | |||||||||||
Total | $ | 8,810 | $ | 4,906 | $ | 7,921 | $ | 9,113 | $ | 4,858 | $ | 7,915 | |||||||||
Total as a percent of financing receivables | 3.5 | % | 1.9 | % | 3.1 | % | 3.5 | % | 1.9 | % | 3.1 | % | |||||||||
Includes $1,596 million and $1,397 million at March 31, 2014 and December 31, 2013, respectively, that are currently paying in accordance with their contractual terms. | |||||||||||||||||||||
Includes $2,127 million and $2,308 million at March 31, 2014 and December 31, 2013, respectively, that are currently paying in accordance with their contractual terms. | |||||||||||||||||||||
Includes $1,150 million and $1,197 million of Consumer loans at March 31, 2014 and December 31, 2013, respectively, that 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. | |||||||||||||||||||||
Includes $311 million and $323 million at March 31, 2014 and December 31, 2013, 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 | investment | principal | Associated | investment | |||||||||||||||
(In millions) | in loans | balance | in loans | in loans | balance | allowance | in loans | ||||||||||||||
31-Mar-14 | |||||||||||||||||||||
Commercial | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 1,792 | $ | 2,385 | $ | 1,731 | $ | 257 | $ | 354 | $ | 49 | $ | 337 | |||||||
International(a) | 1,214 | 2,072 | 1,159 | 602 | 918 | 169 | 647 | ||||||||||||||
Total CLL | 3,006 | 4,457 | 2,890 | 859 | 1,272 | 218 | 984 | ||||||||||||||
Energy Financial Services | 18 | 18 | 9 | 26 | 26 | 3 | 15 | ||||||||||||||
GECAS | - | - | - | 65 | 65 | 8 | 32 | ||||||||||||||
Other | - | - | 1 | - | - | - | 2 | ||||||||||||||
Total Commercial(b) | 3,024 | 4,475 | 2,900 | 950 | 1,363 | 229 | 1,033 | ||||||||||||||
Real Estate(c) | 2,925 | 3,448 | 2,770 | 737 | 871 | 53 | 991 | ||||||||||||||
Consumer(d) | 132 | 169 | 120 | 2,836 | 2,854 | 560 | 2,857 | ||||||||||||||
Total | $ | 6,081 | $ | 8,092 | $ | 5,790 | $ | 4,523 | $ | 5,088 | $ | 842 | $ | 4,881 | |||||||
31-Dec-13 | |||||||||||||||||||||
Commercial | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 1,670 | $ | 2,187 | $ | 2,154 | $ | 417 | $ | 505 | $ | 96 | $ | 509 | |||||||
International(a) | 1,104 | 1,938 | 1,136 | 691 | 1,046 | 231 | 629 | ||||||||||||||
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(b) | 2,776 | 4,128 | 3,299 | 1,116 | 1,559 | 328 | 1,146 | ||||||||||||||
Real Estate(c) | 2,615 | 3,036 | 3,058 | 1,245 | 1,507 | 74 | 1,688 | ||||||||||||||
Consumer(d) | 109 | 153 | 98 | 2,879 | 2,948 | 567 | 3,058 | ||||||||||||||
Total | $ | 5,500 | $ | 7,317 | $ | 6,455 | $ | 5,240 | $ | 6,014 | $ | 969 | $ | 5,892 | |||||||
Write-offs to net realizable value are recognized against the allowance for losses primarily in the reporting period in which management has deemed all or a portion of the financing receivable to be uncollectible, but not later than 360 days after initial recognition of a specific reserve for a collateral dependent loan. However, in accordance with regulatory standards that are applicable in Italy, commercial loans are considered uncollectible when there is demonstrable evidence of the debtor's insolvency, which may result in write-offs occurring beyond 360 days after initial recognition of a specific reserve. | |||||||||||||||||||||
We recognized $57 million, $218 million and $53 million of interest income, including none, $60 million and $16 million on a cash basis, in the three months ended March 31, 2014, the year ended December 31, 2013 and the three months ended March 31, 2013, respectively, principally in our CLL Americas business. The total average investment in impaired loans for the three months ended March 31, 2014 and the year ended December 31, 2013 was $3,933 million and $4,445 million, respectively. | |||||||||||||||||||||
We recognized $19 million, $187 million and $57 million of interest income, including none, $135 million and $44 million on a cash basis, in the three months ended March 31, 2014, the year ended December 31, 2013 and the three months ended March 31, 2013, respectively. The total average investment in impaired loans for the three months ended March 31, 2014 and the year ended December 31, 2013 was $3,761 million and $4,746 million, respectively. | |||||||||||||||||||||
We recognized $46 million, $221 million and $57 million of interest income, including an insignificant amount, $3 million and $1 million on a cash basis, in the three months ended March 31, 2014, the year ended December 31, 2013 and the three months ended March 31, 2013, respectively, principally in our Consumer-U.S. installment and revolving credit portfolios. The total average investment in impaired loans for the three months ended March 31, 2014 and the year ended December 31, 2013 was $2,977 million and $3,156 million, respectively. | |||||||||||||||||||||
(In millions) | Non-impaired financing receivables | General reserves | Impaired loans | Specific reserves | |||||||||||||||||
31-Mar-14 | |||||||||||||||||||||
Commercial | $ | 122,344 | $ | 680 | $ | 3,974 | $ | 229 | |||||||||||||
Real Estate | 16,574 | 122 | 3,662 | 53 | |||||||||||||||||
Consumer | 102,864 | 3,500 | 2,968 | 560 | |||||||||||||||||
Total | $ | 241,782 | $ | 4,302 | $ | 10,604 | $ | 842 | |||||||||||||
31-Dec-13 | |||||||||||||||||||||
Commercial | $ | 125,377 | $ | 677 | $ | 3,892 | $ | 328 | |||||||||||||
Real Estate | 16,039 | 118 | 3,860 | 74 | |||||||||||||||||
Consumer | 106,051 | 3,414 | 2,988 | 567 | |||||||||||||||||
Total | $ | 247,467 | $ | 4,209 | $ | 10,740 | $ | 969 | |||||||||||||
Financing Receivables And Allowance For Losses | ' | ||||||||||||||||||||
Commercial Financing Receivables Risk by Category | |||||||||||||||||||||
Secured | |||||||||||||||||||||
(In millions) | A | B | C | Total | |||||||||||||||||
31-Mar-14 | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 65,126 | $ | 1,348 | $ | 1,538 | $ | 68,012 | |||||||||||||
International | 43,537 | 565 | 1,439 | 45,541 | |||||||||||||||||
Total CLL | 108,663 | 1,913 | 2,977 | 113,553 | |||||||||||||||||
Energy Financial Services | 2,616 | 62 | 44 | 2,722 | |||||||||||||||||
GECAS | 8,582 | 55 | 214 | 8,851 | |||||||||||||||||
Other | 139 | - | - | 139 | |||||||||||||||||
Total | $ | 120,000 | $ | 2,030 | $ | 3,235 | $ | 125,265 | |||||||||||||
31-Dec-13 | |||||||||||||||||||||
CLL | |||||||||||||||||||||
Americas | $ | 65,545 | $ | 1,587 | $ | 1,554 | $ | 68,686 | |||||||||||||
International | 44,930 | 619 | 1,237 | 46,786 | |||||||||||||||||
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 | |||||||||||||
Commercial Real Estate Portfolio Segment [Member] | ' | ||||||||||||||||||||
Supplemental Information About Credit Quality Of Financing Receivables And Allowance For Losses On Financing Receivables | ' | ||||||||||||||||||||
Credit Quality Indicators | ' | ||||||||||||||||||||
Loan-to-value ratio | |||||||||||||||||||||
31-Mar-14 | 31-Dec-13 | ||||||||||||||||||||
Less than | 80% to | Greater than | Less than | 80% to | Greater than | ||||||||||||||||
(In millions) | 80% | 95% | 95% | 80% | 95% | 95% | |||||||||||||||
Debt | $ | 15,974 | $ | 1,512 | $ | 1,754 | $ | 15,576 | $ | 1,300 | $ | 2,111 | |||||||||
Consumer Portfolio Segment [Member] | ' | ||||||||||||||||||||
Supplemental Information About Credit Quality Of Financing Receivables And Allowance For Losses On Financing Receivables | ' | ||||||||||||||||||||
Credit Quality Indicators | ' | ||||||||||||||||||||
Loan-to-value ratio | |||||||||||||||||||||
31-Mar-14 | 31-Dec-13 | ||||||||||||||||||||
80% or | Greater than | Greater than | 80% or | Greater than | Greater than | ||||||||||||||||
(In millions) | less | 80% to 90% | 90% | less | 80% to 90% | 90% | |||||||||||||||
Non-U.S. residential mortgages | $ | 17,148 | $ | 5,098 | $ | 8,109 | $ | 17,224 | $ | 5,130 | $ | 8,147 | |||||||||
Internal ratings translated to approximate credit bureau equivalent score | |||||||||||||||||||||
31-Mar-14 | 31-Dec-13 | ||||||||||||||||||||
671 or | 626 to | 625 or | 671 or | 626 to | 625 or | ||||||||||||||||
(In millions) | higher | 670 | less | higher | 670 | less | |||||||||||||||
Non-U.S. installment and | |||||||||||||||||||||
revolving credit | $ | 8,033 | $ | 3,117 | $ | 2,565 | $ | 8,310 | $ | 2,855 | $ | 2,512 | |||||||||
U.S. installment and | |||||||||||||||||||||
revolving credit | 34,388 | 10,817 | 7,682 | 36,723 | 11,101 | 8,030 | |||||||||||||||
Non-U.S. auto | 1,338 | 344 | 275 | 1,395 | 373 | 286 | |||||||||||||||
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||||||
Property, Plant and Equipment | ' | |||||||||||
(In millions) | 31-Mar-14 | 31-Dec-13 | ||||||||||
Original cost | $ | 115,869 | $ | 116,469 | ||||||||
Less accumulated depreciation and amortization | -48,126 | -47,642 | ||||||||||
Property, plant and equipment – net | $ | 67,743 | $ | 68,827 | ||||||||
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets (Tables) | 3 Months Ended | |||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||
Changes in goodwill balance | ' | |||||||||||||||||
Goodwill | ||||||||||||||||||
Dispositions, | ||||||||||||||||||
currency | ||||||||||||||||||
Balance at | exchange | Balance at | ||||||||||||||||
(In millions) | 1-Jan-14 | Acquisitions | and other | 31-Mar-14 | ||||||||||||||
Power & Water | $ | 8,822 | $ | - | $ | 34 | $ | 8,856 | ||||||||||
Oil & Gas | 10,516 | 21 | 30 | 10,567 | ||||||||||||||
Energy Management | 4,748 | - | 75 | 4,823 | ||||||||||||||
Aviation | 9,103 | - | 168 | 9,271 | ||||||||||||||
Healthcare | 16,643 | 1,024 | 19 | 17,686 | ||||||||||||||
Transportation | 1,012 | 1 | -32 | 981 | ||||||||||||||
Appliances & Lighting | 606 | - | - | 606 | ||||||||||||||
GE Capital | 26,195 | - | 141 | 26,336 | ||||||||||||||
Corporate | 3 | - | - | 3 | ||||||||||||||
Total | $ | 77,648 | $ | 1,046 | $ | 435 | $ | 79,129 | ||||||||||
Goodwill and other intangible assets | ' | |||||||||||||||||
Other Intangible Assets - Net | ||||||||||||||||||
(In millions) | 31-Mar-14 | 31-Dec-13 | ||||||||||||||||
Intangible assets subject to amortization | $ | 14,645 | $ | 14,150 | ||||||||||||||
Indefinite-lived intangible assets(a) | 143 | 160 | ||||||||||||||||
Total | $ | 14,788 | $ | 14,310 | ||||||||||||||
(a) Indefinite-lived intangible assets principally comprise trademarks and in-process research and development. | ||||||||||||||||||
Intangible assets subject to amortization | ' | |||||||||||||||||
Intangible Assets Subject to Amortization | ||||||||||||||||||
31-Mar-14 | 31-Dec-13 | |||||||||||||||||
Gross | Gross | |||||||||||||||||
carrying | Accumulated | carrying | Accumulated | |||||||||||||||
(In millions) | amount | amortization | Net | amount | amortization | Net | ||||||||||||
Customer-related | $ | 8,426 | $ | -2,402 | $ | 6,024 | $ | 7,938 | $ | -2,312 | $ | 5,626 | ||||||
Patents and technology | 6,785 | -2,718 | 4,067 | 6,602 | -2,621 | 3,981 | ||||||||||||
Capitalized software | 8,478 | -5,420 | 3,058 | 8,256 | -5,252 | 3,004 | ||||||||||||
Trademarks | 1,370 | -312 | 1,058 | 1,356 | -295 | 1,061 | ||||||||||||
Lease valuations | 679 | -480 | 199 | 703 | -498 | 205 | ||||||||||||
Present value of future profits(a) | 583 | -583 | - | 574 | -574 | - | ||||||||||||
All other | 599 | -360 | 239 | 632 | -359 | 273 | ||||||||||||
Total | $ | 26,920 | $ | -12,275 | $ | 14,645 | $ | 26,061 | $ | -11,911 | $ | 14,150 | ||||||
(a) Balances at March 31, 2014 and December 31, 2013 reflect adjustments of $316 million and $322 million, respectively, to the present value of future profits in our run-off insurance operation to reflect the effects that would have been recognized had the related unrealized investment securities holding gains and losses actually been realized. | ||||||||||||||||||
GECC_Borrowings_and_Bank_Depos1
GECC Borrowings and Bank Deposits (Tables) | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Debt Disclosure [Abstract] | ' | |||||||||||
GECC Borrowings | ' | |||||||||||
(In millions) | 31-Mar-14 | 31-Dec-13 | ||||||||||
Short-term borrowings | ||||||||||||
GE | ||||||||||||
Commercial paper | $ | 350 | $ | - | ||||||||
Payable to banks | 520 | 346 | ||||||||||
Current portion of long-term borrowings | 70 | 70 | ||||||||||
Other | 607 | 1,425 | ||||||||||
Total GE short-term borrowings | 1,547 | 1,841 | ||||||||||
GECC | ||||||||||||
Commercial paper | ||||||||||||
U.S. | 21,229 | 24,877 | ||||||||||
Non-U.S. | 3,817 | 4,168 | ||||||||||
Current portion of long-term borrowings(a)(b) | 40,720 | 39,215 | ||||||||||
GE Interest Plus notes(c) | 8,935 | 8,699 | ||||||||||
Other(b) | 401 | 339 | ||||||||||
Total GECC short-term borrowings | 75,102 | 77,298 | ||||||||||
Eliminations | -528 | -1,249 | ||||||||||
Total short-term borrowings | $ | 76,121 | $ | 77,890 | ||||||||
Long-term borrowings | ||||||||||||
GE | ||||||||||||
Senior notes | $ | 13,941 | $ | 10,968 | ||||||||
Payable to banks | 9 | 10 | ||||||||||
Other | 519 | 537 | ||||||||||
Total GE long-term borrowings | 14,469 | 11,515 | ||||||||||
GECC | ||||||||||||
Senior unsecured notes(a)(d) | 183,271 | 186,433 | ||||||||||
Subordinated notes(e) | 4,860 | 4,821 | ||||||||||
Subordinated debentures(f) | 7,530 | 7,462 | ||||||||||
Other(b) | 10,993 | 11,563 | ||||||||||
Total GECC long-term borrowings | 206,654 | 210,279 | ||||||||||
Eliminations | -131 | -129 | ||||||||||
Total long-term borrowings | $ | 220,992 | $ | 221,665 | ||||||||
Non-recourse borrowings of consolidated securitization entities(g) | $ | 28,724 | $ | 30,124 | ||||||||
Bank deposits(h) | $ | 54,743 | $ | 53,361 | ||||||||
Total borrowings and bank deposits | $ | 380,580 | $ | 383,040 | ||||||||
(a) Included $481 million of obligations to holders of GICs at both March 31, 2014 and December 31, 2013, respectively. These obligations included conditions under which certain GIC holders could require immediate repayment of their investment should the long-term credit ratings of GECC fall below AA-/Aa3. The remaining outstanding GICs will continue to be subject to their scheduled maturities and individual terms, which may include provisions permitting redemption upon a downgrade of one or more of GECC's ratings, among other things. | ||||||||||||
(b) Included $9,338 million and $9,468 million of funding secured by real estate, aircraft and other collateral at March 31, 2014 and December 31, 2013, respectively, of which $2,733 million and $2,868 million is non-recourse to GECC at March 31, 2014 and December 31, 2013, respectively. | ||||||||||||
(c) Entirely variable denomination floating-rate demand notes. | ||||||||||||
(d) Included $700 million of debt at both March 31, 2014 and December 31, 2013 raised by a funding entity related to Penske Truck Leasing Co., L.P. (PTL). GECC, as co-issuer and co-guarantor of the debt, reports this amount as borrowings in its financial statements. GECC has been indemnified by the other limited partners of PTL for their proportionate share of the debt obligation. | ||||||||||||
(e) Included $300 million of subordinated notes guaranteed by GE at both March 31, 2014 and December 31, 2013. | ||||||||||||
(f) Subordinated debentures receive rating agency equity credit. | ||||||||||||
(g) Included at March 31, 2014 and December 31, 2013, were $9,878 million and $9,047 million of current portion of long-term borrowings, respectively. See Note 16. | ||||||||||||
(h) Included $13,458 million and $13,614 million of deposits in non-U.S. banks at March 31, 2014 and December 31, 2013, respectively, and $19,305 million and $18,275 million of certificates of deposits with maturities greater than one year at March 31, 2014 and December 31, 2013, respectively. | ||||||||||||
Postretirement_Benefit_Plans_T
Postretirement Benefit Plans (Tables) | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | ' | |||||||||||
Effect on operations of the pension plans | ' | |||||||||||
Effect on Operations of Pension Plans | ||||||||||||
Principal Pension Plans | ||||||||||||
Three months ended March 31 | ||||||||||||
(In millions) | 2014 | 2013 | ||||||||||
Service cost for benefits earned | $ | 318 | $ | 401 | ||||||||
Prior service cost amortization | 54 | 61 | ||||||||||
Expected return on plan assets | -801 | -875 | ||||||||||
Interest cost on benefit obligation | 686 | 614 | ||||||||||
Net actuarial loss amortization | 641 | 912 | ||||||||||
Pension plans cost | $ | 898 | $ | 1,113 | ||||||||
Other Pension Plans | ||||||||||||
Three months ended March 31 | ||||||||||||
(In millions) | 2014 | 2013 | ||||||||||
Service cost for benefits earned | $ | 114 | $ | 102 | ||||||||
Prior service cost amortization | 1 | 2 | ||||||||||
Expected return on plan assets | -197 | -165 | ||||||||||
Interest cost on benefit obligation | 146 | 130 | ||||||||||
Net actuarial loss amortization | 49 | 86 | ||||||||||
Pension plans cost | $ | 113 | $ | 155 | ||||||||
Effect on operations of principal retiree health and life insurance plans | ' | |||||||||||
Principal Retiree Health | ||||||||||||
and Life Insurance Plans | ||||||||||||
Three months ended March 31 | ||||||||||||
(In millions) | 2014 | 2013 | ||||||||||
Service cost for benefits earned | $ | 44 | $ | 73 | ||||||||
Prior service cost amortization | 98 | 98 | ||||||||||
Expected return on plan assets | -12 | -15 | ||||||||||
Interest cost on benefit obligation | 110 | 107 | ||||||||||
Net actuarial loss (gain) amortization | -43 | 4 | ||||||||||
Retiree benefit plans cost | $ | 197 | $ | 267 | ||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Unrecognized tax benefits | ' | |||||||||||
Unrecognized Tax Benefits | ||||||||||||
(In millions) | 31-Mar-14 | 31-Dec-13 | ||||||||||
Unrecognized tax benefits | $ | 5,911 | $ | 5,816 | ||||||||
Portion that, if recognized, would reduce tax | ||||||||||||
expense and effective tax rate(a) | 4,223 | 4,307 | ||||||||||
Accrued interest on unrecognized tax benefits | 970 | 975 | ||||||||||
Accrued penalties on unrecognized tax benefits | 169 | 164 | ||||||||||
Reasonably possible reduction to the balance of | ||||||||||||
unrecognized tax benefits in succeeding 12 months | 0-1,150 | 0-900 | ||||||||||
Portion that, if recognized, would reduce tax | ||||||||||||
expense and effective tax rate(a) | 0-400 | 0-350 | ||||||||||
(a) Some portion of such reduction may be reported as discontinued operations. | ||||||||||||
Shareowners_Equity_Tables
Shareowners' Equity (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||||||||||
Accumulated other comprehensive income | ' | ||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | |||||||||||||||||
Three months ended March 31 | |||||||||||||||||
(In millions) | 2014 | 2013 | |||||||||||||||
Investment securities | |||||||||||||||||
Beginning balance | $ | 307 | $ | 677 | |||||||||||||
Other comprehensive income (loss) (OCI) before reclassifications – | |||||||||||||||||
net of deferred taxes of $246 and $(38) | 447 | -63 | |||||||||||||||
Reclassifications from OCI – net of deferred taxes of $7 and $97 | 10 | 131 | |||||||||||||||
Other comprehensive income (loss)(a) | 457 | 68 | |||||||||||||||
Less: OCI attributable to noncontrolling interests | - | 1 | |||||||||||||||
Ending balance | $ | 764 | $ | 744 | |||||||||||||
Currency translation adjustments (CTA) | |||||||||||||||||
Beginning balance | $ | 126 | $ | 412 | |||||||||||||
OCI before reclassifications – net of deferred taxes of $71 and $(204) | 47 | -471 | |||||||||||||||
Reclassifications from OCI – net of deferred taxes of $124 and $(34) | 2 | 12 | |||||||||||||||
Other comprehensive income (loss)(a) | 49 | -459 | |||||||||||||||
Less: OCI attributable to noncontrolling interests | -2 | -4 | |||||||||||||||
Ending balance | $ | 177 | $ | -43 | |||||||||||||
Cash flow hedges | |||||||||||||||||
Beginning balance | $ | -257 | $ | -722 | |||||||||||||
OCI before reclassifications – net of deferred taxes of $71 and $72 | 99 | -76 | |||||||||||||||
Reclassifications from OCI – net of deferred taxes of $(6) and $(47) | -31 | 178 | |||||||||||||||
Other comprehensive income (loss)(a) | 68 | 102 | |||||||||||||||
Less: OCI attributable to noncontrolling interests | - | - | |||||||||||||||
Ending balance | $ | -189 | $ | -620 | |||||||||||||
Benefit plans | |||||||||||||||||
Beginning balance | $ | -9,296 | $ | -20,597 | |||||||||||||
Net actuarial gain (loss) – net of deferred taxes of $42 and $53 | 172 | 83 | |||||||||||||||
Prior service cost amortization – net of deferred taxes of $64 and $67 | 93 | 98 | |||||||||||||||
Net actuarial loss amortization – net of deferred taxes | |||||||||||||||||
of $213 and $339 | 430 | 672 | |||||||||||||||
Other comprehensive income (loss)(a) | 695 | 853 | |||||||||||||||
Less: OCI attributable to noncontrolling interests | - | 1 | |||||||||||||||
Ending balance | $ | -8,601 | $ | -19,745 | |||||||||||||
Accumulated other comprehensive income (loss) at March 31 | $ | -7,849 | $ | -19,664 | |||||||||||||
Total other comprehensive income (loss) was $1,269 million and $564 million for the three months ended March 31, 2014 and 2013, respectively. | |||||||||||||||||
Reclassification out of Accumulated Other Comprehensive Income | ' | ||||||||||||||||
Reclassification out of AOCI | |||||||||||||||||
Three months ended March 31 | |||||||||||||||||
(In millions) | 2014 | 2013 | Statement of Earnings Caption | ||||||||||||||
Available-for-sale securities | |||||||||||||||||
Realized gains (losses) on | |||||||||||||||||
sale/impairment of securities | $ | -17 | $ | -228 | Other income | ||||||||||||
7 | 97 | Benefit (provision) for income taxes | |||||||||||||||
$ | -10 | $ | -131 | Net of tax | |||||||||||||
Currency translation adjustments | |||||||||||||||||
Gains (losses) on dispositions | $ | -126 | $ | 22 | Costs and expenses | ||||||||||||
124 | -34 | Benefit (provision) for income taxes | |||||||||||||||
$ | -2 | $ | -12 | Net of tax | |||||||||||||
Cash flow hedges | |||||||||||||||||
Gains (losses) on interest rate derivatives | $ | -69 | $ | -102 | Interest and other financial charges | ||||||||||||
Foreign exchange contracts | 128 | -51 | (a) | ||||||||||||||
Other | -22 | 22 | (b) | ||||||||||||||
37 | -131 | Total before tax | |||||||||||||||
-6 | -47 | Benefit (provision) for income taxes | |||||||||||||||
$ | 31 | $ | -178 | Net of tax | |||||||||||||
Benefit plan items | |||||||||||||||||
Amortization of prior service costs | $ | -157 | $ | -165 | (c) | ||||||||||||
Amortization of actuarial gains (losses) | -643 | -1,011 | (c) | ||||||||||||||
-800 | -1,176 | Total before tax | |||||||||||||||
277 | 406 | Benefit (provision) for income taxes | |||||||||||||||
$ | -523 | $ | -770 | Net of tax | |||||||||||||
Total reclassification adjustments | $ | -504 | $ | -1,091 | Net of tax | ||||||||||||
Included $134 million and $(33) million in GECC revenues from services and $(6) million and $(18) million in interest and other financial charges for the three months ended March 31, 2014 and 2013, respectively. | |||||||||||||||||
Primarily recorded 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 9 for further information. | |||||||||||||||||
Changes to noncontrolling interests | ' | ||||||||||||||||
Noncontrolling Interests | |||||||||||||||||
Three months ended March 31 | |||||||||||||||||
(In millions) | 2014 | 2013 | |||||||||||||||
Beginning balance | $ | 6,217 | $ | 5,444 | |||||||||||||
Net earnings (loss) | -33 | -16 | |||||||||||||||
Dividends | -10 | -18 | |||||||||||||||
Dispositions | - | -104 | |||||||||||||||
Other (including AOCI) | 9 | 30 | |||||||||||||||
Ending balance | $ | 6,183 | $ | 5,336 | |||||||||||||
GECC_Revenues_from_Services_Ta
GECC Revenues from Services (Tables) | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Financial Services Revenue [Abstract] | ' | |||||||||||
GECC Revenues from services | ' | |||||||||||
Three months ended March 31 | ||||||||||||
(In millions) | 2014 | 2013 | ||||||||||
Interest on loans | $ | 4,256 | $ | 4,490 | ||||||||
Equipment leased to others | 2,661 | 2,529 | ||||||||||
Fees | 1,114 | 1,130 | ||||||||||
Investment income(a) | 556 | 414 | ||||||||||
Financing leases | 389 | 436 | ||||||||||
Associated companies | 373 | 173 | ||||||||||
Premiums earned by insurance activities | 352 | 395 | ||||||||||
Real estate investments(b) | 343 | 1,300 | ||||||||||
Other items | 444 | 575 | ||||||||||
10,488 | 11,442 | |||||||||||
Eliminations | -356 | -301 | ||||||||||
Total | $ | 10,132 | $ | 11,141 | ||||||||
Included net other-than-temporary impairments on investment securities of $34 million and $278 million in the three months ended March 31, 2014 and 2013, respectively. | ||||||||||||
During the three months ended March 31, 2013, we sold real estate comprising certain floors located at 30 Rockefeller Center, New York for a pre-tax gain of $902 million. | ||||||||||||
Earnings_Per_Share_Information1
Earnings Per Share Information (Tables) | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Calculation of earnings per share | ' | |||||||||||
Three months ended March 31 | ||||||||||||
2014 | 2013 | |||||||||||
(In millions; per-share amounts in dollars) | Diluted | Basic | Diluted | Basic | ||||||||
Amounts attributable to the Company: | ||||||||||||
Consolidated | ||||||||||||
Earnings from continuing operations attributable to | ||||||||||||
common shareowners for per-share calculation(a) | $ | 2,983 | $ | 2,983 | $ | 3,642 | $ | 3,642 | ||||
Earnings (loss) from discontinued operations | ||||||||||||
for per-share calculation(a) | 12 | 12 | -120 | -120 | ||||||||
Net earnings attributable to GE common | ||||||||||||
shareowners for per-share calculation(a) | $ | 2,995 | $ | 2,995 | $ | 3,522 | $ | 3,522 | ||||
Average equivalent shares | ||||||||||||
Shares of GE common stock outstanding | 10,045 | 10,045 | 10,374 | 10,374 | ||||||||
Employee compensation-related shares (including | ||||||||||||
stock options) and warrants | 78 | - | 59 | - | ||||||||
Total average equivalent shares | 10,123 | 10,045 | 10,433 | 10,374 | ||||||||
Per-share amounts | ||||||||||||
Earnings from continuing operations | $ | 0.29 | $ | 0.3 | $ | 0.35 | $ | 0.35 | ||||
Earnings (loss) from discontinued operations | 0 | 0 | -0.01 | -0.01 | ||||||||
Net earnings | 0.3 | 0.3 | 0.34 | 0.34 | ||||||||
Included an insignificant amount of dividend equivalents in each of the periods presented. | ||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||||||||
Assets and liabilities at fair value | ' | ||||||||||||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | |||||||||||||||||||||||||||||||
Netting | |||||||||||||||||||||||||||||||
(In millions) | Level 1 | (a) | Level 2 | (a) | Level 3 | adjustment | (b) | Net balance | |||||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||
Investment securities | |||||||||||||||||||||||||||||||
Debt | |||||||||||||||||||||||||||||||
U.S. corporate | $ | - | $ | 19,590 | $ | 3,104 | $ | - | $ | 22,694 | |||||||||||||||||||||
State and municipal | - | 4,834 | 560 | - | 5,394 | ||||||||||||||||||||||||||
Residential mortgage-backed | - | 1,793 | 81 | - | 1,874 | ||||||||||||||||||||||||||
Commercial mortgage-backed | - | 3,112 | 11 | - | 3,123 | ||||||||||||||||||||||||||
Asset-backed(c) | - | 430 | 6,908 | - | 7,338 | ||||||||||||||||||||||||||
Corporate – non-U.S. | 52 | 678 | 1,072 | - | 1,802 | ||||||||||||||||||||||||||
Government – non-U.S. | 1,334 | 823 | 1 | - | 2,158 | ||||||||||||||||||||||||||
U.S. government and federal agency | - | 505 | 232 | - | 737 | ||||||||||||||||||||||||||
Retained interests | - | - | 75 | - | 75 | ||||||||||||||||||||||||||
Equity | |||||||||||||||||||||||||||||||
Available-for-sale | 434 | 25 | 11 | - | 470 | ||||||||||||||||||||||||||
Trading | 66 | 2 | - | - | 68 | ||||||||||||||||||||||||||
Derivatives(d) | - | 7,683 | 163 | -6,300 | 1,546 | ||||||||||||||||||||||||||
Other(e) | - | - | 288 | - | 288 | ||||||||||||||||||||||||||
Total | $ | 1,886 | $ | 39,475 | $ | 12,506 | $ | -6,300 | $ | 47,567 | |||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||
Derivatives | $ | - | $ | 4,692 | $ | 15 | $ | -3,895 | $ | 812 | |||||||||||||||||||||
Other(f) | - | 1,183 | - | - | 1,183 | ||||||||||||||||||||||||||
Total | $ | - | $ | 5,875 | $ | 15 | $ | -3,895 | $ | 1,995 | |||||||||||||||||||||
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 | |||||||||||||||||||||
(a) There were no securities transferred between Level 1 and Level 2 in the three months ended March 31, 2014. | |||||||||||||||||||||||||||||||
(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 includes an adjustment for non-performance risk. The cumulative adjustment was a gain (loss) of $30 million and $(7) million at March 31, 2014 and December 31, 2013, respectively. See Note 15 for additional information on the composition of our derivative portfolio. | |||||||||||||||||||||||||||||||
(e) Includes 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 Three Months Ended | |||||||||||||||||||||||||||||||
Net | |||||||||||||||||||||||||||||||
change in | |||||||||||||||||||||||||||||||
Net | Net | unrealized | |||||||||||||||||||||||||||||
realized/ | realized/ | gains | |||||||||||||||||||||||||||||
unrealized | unrealized | (losses) | |||||||||||||||||||||||||||||
gains | gains | relating to | |||||||||||||||||||||||||||||
Balance | (losses) | (losses) | Transfers | Transfers | Balance | instruments | |||||||||||||||||||||||||
at | included | included | into | out of | at | still held at | |||||||||||||||||||||||||
(In millions) | 1-Jan | in earnings | (a) | in AOCI | Purchases | Sales | Settlements | Level 3(b) | Level 3(b) | 31-Mar | 31-Mar | (c) | |||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||
Investment securities | |||||||||||||||||||||||||||||||
Debt | |||||||||||||||||||||||||||||||
U.S. corporate | $ | 2,953 | $ | 8 | $ | 60 | $ | 153 | $ | -2 | $ | -112 | $ | 97 | $ | -53 | $ | 3,104 | $ | - | |||||||||||
State and municipal | 96 | - | 27 | 9 | - | -7 | 435 | - | 560 | - | |||||||||||||||||||||
RMBS | 86 | - | -1 | - | - | -4 | - | - | 81 | - | |||||||||||||||||||||
CMBS | 10 | - | - | - | - | -1 | 2 | - | 11 | - | |||||||||||||||||||||
ABS | 6,898 | 1 | -27 | 405 | - | -369 | - | - | 6,908 | - | |||||||||||||||||||||
Corporate – non-U.S. | 1,064 | -21 | 47 | 219 | -2 | -235 | - | - | 1,072 | - | |||||||||||||||||||||
Government – non-U.S. | 31 | - | - | - | - | - | - | -30 | 1 | - | |||||||||||||||||||||
U.S. government and | |||||||||||||||||||||||||||||||
federal agency | 225 | - | 9 | - | - | - | - | -2 | 232 | - | |||||||||||||||||||||
Retained interests | 72 | 2 | 3 | 1 | - | -3 | - | - | 75 | - | |||||||||||||||||||||
Equity | |||||||||||||||||||||||||||||||
Available-for-sale | 11 | - | - | - | - | - | - | - | 11 | - | |||||||||||||||||||||
Derivatives(d)(e) | 164 | -7 | - | - | - | 2 | -1 | - | 158 | - | |||||||||||||||||||||
Other | 494 | 3 | - | 83 | -13 | - | - | -279 | 288 | -9 | |||||||||||||||||||||
Total | $ | 12,104 | $ | -14 | $ | 118 | $ | 870 | $ | -17 | $ | -729 | $ | 533 | $ | -364 | $ | 12,501 | $ | -9 | |||||||||||
2013 | |||||||||||||||||||||||||||||||
Investment securities | |||||||||||||||||||||||||||||||
Debt | |||||||||||||||||||||||||||||||
U.S. corporate | $ | 3,591 | $ | -271 | $ | 219 | $ | 63 | $ | -6 | $ | -45 | $ | 93 | $ | -73 | $ | 3,571 | $ | - | |||||||||||
State and municipal | 77 | - | - | 4 | - | -1 | 10 | - | 90 | - | |||||||||||||||||||||
RMBS | 100 | - | -3 | - | - | -1 | - | - | 96 | - | |||||||||||||||||||||
CMBS | 6 | - | - | - | - | - | - | - | 6 | - | |||||||||||||||||||||
ABS | 5,023 | 1 | -2 | 144 | - | -262 | 12 | - | 4,916 | - | |||||||||||||||||||||
Corporate – non-U.S. | 1,218 | 8 | 19 | 825 | -3 | -733 | 15 | - | 1,349 | - | |||||||||||||||||||||
Government – non-U.S. | 42 | - | -1 | - | - | - | - | - | 41 | - | |||||||||||||||||||||
U.S. government and | |||||||||||||||||||||||||||||||
federal agency | 277 | - | -13 | - | - | - | - | - | 264 | - | |||||||||||||||||||||
Retained interests | 83 | 3 | 10 | - | - | -5 | - | - | 91 | - | |||||||||||||||||||||
Equity | |||||||||||||||||||||||||||||||
Available-for-sale | 13 | - | - | - | - | - | - | -2 | 11 | - | |||||||||||||||||||||
Derivatives(d)(e) | 416 | -19 | - | -1 | - | -53 | - | - | 343 | 12 | |||||||||||||||||||||
Other | 799 | -22 | - | 57 | -55 | - | - | - | 779 | -21 | |||||||||||||||||||||
Total | $ | 11,645 | $ | -300 | $ | 229 | $ | 1,092 | $ | -64 | $ | -1,100 | $ | 130 | $ | -75 | $ | 11,557 | $ | -9 | |||||||||||
Earnings effects are primarily included in the GECC revenues from services and Interest and other financial charges captions in the Condensed Statement of Earnings. | |||||||||||||||||||||||||||||||
Transfers in and out of Level 3 are considered to occur at the beginning of the period. Transfers out of Level 3 were primarily a result of increased use of quotes from independent pricing vendors based on recent trading activity. | |||||||||||||||||||||||||||||||
Represents the amount of unrealized gains or losses for the period included in earnings. | |||||||||||||||||||||||||||||||
Represents derivative assets net of derivative liabilities and included cash accruals of $10 million and $4 million not reflected in the fair value hierarchy table for the three months ended March 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||
Gains (losses) included in “net realized/unrealized gains (losses) included in earnings” were offset by the earnings effects from the underlying items that were economically hedged. See Note 15. | |||||||||||||||||||||||||||||||
Non-recurring fair value amounts (as measured at the time of the adjustment) for those assets remeasured to fair value on a non-recurring basis | ' | ||||||||||||||||||||||||||||||
Remeasured during | Remeasured during | ||||||||||||||||||||||||||||||
the three months ended | the year ended | ||||||||||||||||||||||||||||||
31-Mar-14 | 31-Dec-13 | ||||||||||||||||||||||||||||||
(In millions) | Level 2 | Level 3 | Level 2 | Level 3 | |||||||||||||||||||||||||||
Financing receivables and loans held for sale | $ | 87 | $ | 1,596 | $ | 210 | $ | 2,986 | |||||||||||||||||||||||
Cost and equity method investments | - | 354 | - | 690 | |||||||||||||||||||||||||||
Long-lived assets, including real estate | 326 | 192 | 2,050 | 1,088 | |||||||||||||||||||||||||||
Total | $ | 413 | $ | 2,142 | $ | 2,260 | $ | 4,764 | |||||||||||||||||||||||
Fair value adjustments to assets measured on a non-recurring basis | ' | ||||||||||||||||||||||||||||||
Three months ended March 31 | |||||||||||||||||||||||||||||||
(In millions) | 2014 | 2013 | |||||||||||||||||||||||||||||
Financing receivables and loans held for sale | $ | -113 | $ | -128 | |||||||||||||||||||||||||||
Cost and equity method investments | -208 | -81 | |||||||||||||||||||||||||||||
Long-lived assets, including real estate | -75 | -390 | |||||||||||||||||||||||||||||
Total | $ | -396 | $ | -599 | |||||||||||||||||||||||||||
Significant Unobservable Inputs Used For Level Three Recurring And Nonrecurring Measurements [Table Text Block] | ' | ||||||||||||||||||||||||||||||
Range | |||||||||||||||||||||||||||||||
(Dollars in millions) | Fair value | Valuation technique | Unobservable inputs | (weighted average) | |||||||||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||||||||||||
Recurring fair value measurements | |||||||||||||||||||||||||||||||
Investment securities – Debt | |||||||||||||||||||||||||||||||
U.S. corporate | $ | 947 | Income approach | Discount rate(a) | 1.5%-8.9% (5.0%) | ||||||||||||||||||||||||||
State and Municipal | 469 | Income approach | Discount rate(a) | 1.8%-6.0% (3.3%) | |||||||||||||||||||||||||||
Asset-backed | 6,868 | Income approach | Discount rate(a) | 1.3%-9.5% (3.8%) | |||||||||||||||||||||||||||
Corporate – non-U.S. | 776 | Income approach | Discount rate(a) | 1.4%-46.0% (15.3%) | |||||||||||||||||||||||||||
Other financial assets | 278 | Income approach, Market comparables | Revenue multiple | 1.7X-1.7X (1.7X) | |||||||||||||||||||||||||||
EBITDA multiple | 5.4X-8.9X (6.9X) | ||||||||||||||||||||||||||||||
Discount rate(a) | 3.9%-5.6% (4.8%) | ||||||||||||||||||||||||||||||
Capitalization rate(b) | 7.3%-8.8% (7.6%) | ||||||||||||||||||||||||||||||
Non-recurring fair value measurements | |||||||||||||||||||||||||||||||
Financing receivables and loans held for sale | $ | 995 | Income approach, Business enterprise value | Capitalization rate(b) | 2.7%-11.3% (6.5%) | ||||||||||||||||||||||||||
EBITDA multiple | 4.3X-6.5X (5.9X) | ||||||||||||||||||||||||||||||
WACC(c) | 19.0%-19.0% (19.0%) | ||||||||||||||||||||||||||||||
Cost and equity method investments | 137 | Income approach, Business enterprise value, Market comparables | Discount rate(a) | 8.0%-10.0% (8.5%) | |||||||||||||||||||||||||||
EBITDA multiple | 6.0X-9.0X (9.0X) | ||||||||||||||||||||||||||||||
Revenue multiple | 2.9X-2.9X (2.9X) | ||||||||||||||||||||||||||||||
Long-lived assets, including real estate | 5 | Income approach | Capitalization rate(b) | 9.4%-15.3% (12.0%) | |||||||||||||||||||||||||||
Discount rate(a) | 4.0%-19.0% (8.3%) | ||||||||||||||||||||||||||||||
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 | WACC(c) | 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, | Capitalization rate(b) | 5.5%-16.7% (8.0%) | ||||||||||||||||||||||||||
Business enterprise value | 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%) | ||||||||||||||||||||||||||||||
WACC(c) | 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%) | ||||||||||||||||||||||||||||||
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. | |||||||||||||||||||||||||||||||
Weighted average cost of capital (WACC). | |||||||||||||||||||||||||||||||
Financial_Instruments_Tables
Financial Instruments (Tables) | 3 Months Ended | |||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||
Financial Instruments [Abstract] | ' | |||||||||||||||||
Estimated fair value of assets and liabilities | ' | |||||||||||||||||
31-Mar-14 | 31-Dec-13 | |||||||||||||||||
Assets (liabilities) | Assets (liabilities) | |||||||||||||||||
Carrying | Carrying | |||||||||||||||||
Notional | amount | Estimated | Notional | amount | Estimated | |||||||||||||
(In millions) | amount | (net) | fair value | amount | (net) | fair value | ||||||||||||
GE | ||||||||||||||||||
Assets | ||||||||||||||||||
Investments and notes | ||||||||||||||||||
receivable | $ | (a) | $ | 486 | $ | 533 | $ | (a) | $ | 488 | $ | 512 | ||||||
Liabilities | ||||||||||||||||||
Borrowings(b) | (a) | -16,016 | -16,824 | (a) | -13,356 | -13,707 | ||||||||||||
GECC | ||||||||||||||||||
Assets | ||||||||||||||||||
Loans | (a) | 221,187 | 225,454 | (a) | 226,293 | 230,792 | ||||||||||||
Other commercial mortgages | (a) | 2,261 | 2,269 | (a) | 2,270 | 2,281 | ||||||||||||
Loans held for sale | (a) | 1,078 | 1,078 | (a) | 512 | 512 | ||||||||||||
Other financial instruments(c) | (a) | 1,541 | 2,201 | (a) | 1,622 | 2,203 | ||||||||||||
Liabilities | ||||||||||||||||||
Borrowings and bank | ||||||||||||||||||
deposits(b)(d) | (a) | -365,223 | -381,050 | (a) | -371,062 | -386,823 | ||||||||||||
Investment contract benefits | (a) | -3,107 | -3,666 | (a) | -3,144 | -3,644 | ||||||||||||
Guaranteed investment contracts | (a) | -1,441 | -1,429 | (a) | -1,471 | -1,459 | ||||||||||||
Insurance – credit life(e) | 2,163 | -110 | -96 | 2,149 | -108 | -94 | ||||||||||||
(a) These financial instruments do not have notional amounts. | ||||||||||||||||||
(b) See Note 8. | ||||||||||||||||||
(c) Principally comprises cost method investments. | ||||||||||||||||||
(d) Fair values exclude interest rate and currency derivatives designated as hedges of borrowings. Had they been included, the fair value of borrowings at March 31, 2014 and December 31, 2013 would have been reduced by $3,506 million and $2,284 million, respectively. | ||||||||||||||||||
(e) Net of reinsurance of $1,250 million at both March 31, 2014 and December 31, 2013. | ||||||||||||||||||
Loan commitments | ' | |||||||||||||||||
Notional Amounts of Loan Commitments | ||||||||||||||||||
(In millions) | 31-Mar-14 | 31-Dec-13 | ||||||||||||||||
Ordinary course of business lending commitments(a) | $ | 5,102 | $ | 4,756 | ||||||||||||||
Unused revolving credit lines(b) | ||||||||||||||||||
Commercial(c) | 15,497 | 16,570 | ||||||||||||||||
Consumer – principally credit cards | 296,296 | 290,662 | ||||||||||||||||
(a) Excluded investment commitments of $1,383 million and $1,395 million at March 31, 2014 and December 31, 2013, respectively. | ||||||||||||||||||
(b) Excluded inventory financing arrangements, which may be withdrawn at our option, of $12,650 million and $13,502 million at March 31, 2014 and December 31, 2013, respectively. | ||||||||||||||||||
(c) Included commitments of $11,952 million and $11,629 million at March 31, 2014 and December 31, 2013, respectively, associated with secured financing arrangements that could have increased to a maximum of $15,472 million and $14,590 million at March 31, 2014 and December 31, 2013, respectively, based on asset volume under the arrangement. | ||||||||||||||||||
Fair value of derivatives by contract type | ' | |||||||||||||||||
Fair Value of Derivatives | ||||||||||||||||||
31-Mar-14 | 31-Dec-13 | |||||||||||||||||
(In millions) | Assets | Liabilities | Assets | Liabilities | ||||||||||||||
Derivatives accounted for as hedges | ||||||||||||||||||
Interest rate contracts | $ | 4,187 | $ | 1,350 | $ | 3,837 | $ | 1,989 | ||||||||||
Currency exchange contracts | 1,330 | 1,183 | 1,830 | 984 | ||||||||||||||
Other contracts | 1 | 2 | 1 | - | ||||||||||||||
5,518 | 2,535 | 5,668 | 2,973 | |||||||||||||||
Derivatives not accounted for as hedges | ||||||||||||||||||
Interest rate contracts | 289 | 145 | 270 | 169 | ||||||||||||||
Currency exchange contracts | 1,814 | 1,979 | 2,257 | 2,245 | ||||||||||||||
Other contracts | 225 | 48 | 284 | 42 | ||||||||||||||
2,328 | 2,172 | 2,811 | 2,456 | |||||||||||||||
Gross derivatives recognized in statement of | ||||||||||||||||||
financial position | ||||||||||||||||||
Gross derivatives | 7,846 | 4,707 | 8,479 | 5,429 | ||||||||||||||
Gross accrued interest | 1,183 | 41 | 1,227 | 241 | ||||||||||||||
9,029 | 4,748 | 9,706 | 5,670 | |||||||||||||||
Amounts offset in statement of financial position | ||||||||||||||||||
Netting adjustments(a) | -3,556 | -3,586 | -4,120 | -4,113 | ||||||||||||||
Cash collateral(b) | -2,744 | -309 | -2,619 | -242 | ||||||||||||||
-6,300 | -3,895 | -6,739 | -4,355 | |||||||||||||||
Net derivatives recognized in statement of | ||||||||||||||||||
financial position | ||||||||||||||||||
Net derivatives | 2,729 | 853 | 2,967 | 1,315 | ||||||||||||||
Amounts not offset in statement of | ||||||||||||||||||
financial position | ||||||||||||||||||
Securities held as collateral(c) | -1,655 | - | -1,962 | - | ||||||||||||||
Net amount | $ | 1,074 | $ | 853 | $ | 1,005 | $ | 1,315 | ||||||||||
Derivatives are classified in 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 include fair value adjustments related to our own and counterparty non-performance risk. At March 31, 2014 and December 31, 2013, the cumulative adjustment for non-performance risk was a gain (loss) of $30 million and $(7) million, respectively. | ||||||||||||||||||
(b) Excludes excess cash collateral received and posted of $177 million and $56 million at March 31, 2014, respectively, and $160 million and $37 million at December 31, 2013, respectively. | ||||||||||||||||||
(c) Excludes excess securities collateral received of $75 million and $363 million at March 31, 2014 and December 31, 2013, respectively. | ||||||||||||||||||
Fair value hedges | ' | |||||||||||||||||
Earnings Effect of Fair Value Hedging Relationships | ||||||||||||||||||
Three months ended March 31 | ||||||||||||||||||
2014 | 2013 | |||||||||||||||||
Gain (loss) | Gain (loss) | Gain (loss) | Gain (loss) | |||||||||||||||
on hedging | on hedged | on hedging | on hedged | |||||||||||||||
(In millions) | derivatives | items | derivatives | items | ||||||||||||||
Interest rate contracts | $ | 990 | $ | -1,005 | $ | -914 | $ | 881 | ||||||||||
Currency exchange contracts | 2 | -3 | -9 | 8 | ||||||||||||||
Cash flow hedges | ' | |||||||||||||||||
Gain (loss) reclassified | ||||||||||||||||||
Gain (loss) recognized in AOCI | from AOCI into earnings | |||||||||||||||||
for the three months ended March 31 | for the three months ended March 31 | |||||||||||||||||
(In millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||
Interest rate contracts | $ | 3 | $ | -11 | $ | -69 | $ | -102 | ||||||||||
Currency exchange contracts | 156 | 4 | 108 | -28 | ||||||||||||||
Commodity contracts | -2 | -1 | -2 | -1 | ||||||||||||||
Total(a) | $ | 157 | $ | -8 | $ | 37 | $ | -131 | ||||||||||
Gain (loss) is recorded in GECC revenues from services, interest and other financial charges, and other costs and expenses when reclassified to earnings. | ||||||||||||||||||
Net investment hedges | ' | |||||||||||||||||
Gains (Losses) Recognized through CTA | ||||||||||||||||||
Gain (loss) recognized in CTA | Gain (loss) reclassified from CTA | |||||||||||||||||
for the three months ended March 31 | for the three months ended March 31 | |||||||||||||||||
(In millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||
Currency exchange contracts(a) | $ | -1,033 | $ | 2,105 | $ | 10 | $ | -124 | ||||||||||
Gain (loss) is recorded in GECC revenues from services when reclassified out of AOCI. | ||||||||||||||||||
Variable_Interest_Entities_Tab
Variable Interest Entities (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Variable Interest Entities [Abstract] | ' | ||||||||||||||||||||
Schedule of VIE | ' | ||||||||||||||||||||
Consolidated Securitization Entities | |||||||||||||||||||||
Trade | |||||||||||||||||||||
(In millions) | Trinity(a) | Credit cards | (b) | Equipment | (b) | receivables | Other | Total | |||||||||||||
31-Mar-14 | |||||||||||||||||||||
Assets(c) | |||||||||||||||||||||
Financing receivables, net | $ | - | $ | 23,888 | $ | 13,029 | $ | 2,628 | $ | 2,067 | $ | 41,612 | |||||||||
Investment securities | 2,764 | - | - | - | 1,034 | 3,798 | |||||||||||||||
Other assets | 22 | 122 | 515 | 1 | 2,706 | 3,366 | |||||||||||||||
Total | $ | 2,786 | $ | 24,010 | $ | 13,544 | $ | 2,629 | $ | 5,807 | $ | 48,776 | |||||||||
Liabilities(c) | |||||||||||||||||||||
Borrowings | $ | - | $ | - | $ | - | $ | - | $ | 583 | $ | 583 | |||||||||
Non-recourse borrowings | - | 14,642 | 10,316 | 2,168 | 49 | 27,175 | |||||||||||||||
Other liabilities | 1,454 | 265 | 285 | 28 | 1,458 | 3,490 | |||||||||||||||
Total | $ | 1,454 | $ | 14,907 | $ | 10,601 | $ | 2,196 | $ | 2,090 | $ | 31,248 | |||||||||
31-Dec-13 | |||||||||||||||||||||
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 | |||||||||
(a) Excludes intercompany advances from GECC to Trinity, which are eliminated in consolidation of $1,611 million and $1,837 million at March 31, 2014 and December 31, 2013, 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 March 31, 2014 and December 31, 2013, the amounts of commingled cash owed to the CSEs were $3,106 million and $6,314 million, respectively, and the amounts owed to us by CSEs were $3,115 million and $5,540 million, respectively. | |||||||||||||||||||||
(c) Asset amounts exclude intercompany receivables for cash collected on behalf of the 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 | ' | ||||||||||||||||||||
(In millions) | 31-Mar-14 | 31-Dec-13 | |||||||||||||||||||
Other assets and investment securities | $ | 9,161 | $ | 9,129 | |||||||||||||||||
Financing receivables – net | 3,084 | 3,346 | |||||||||||||||||||
Total investments | 12,245 | 12,475 | |||||||||||||||||||
Contractual obligations to fund investments or guarantees | 2,541 | 2,741 | |||||||||||||||||||
Revolving lines of credit | 36 | 31 | |||||||||||||||||||
Total | $ | 14,822 | $ | 15,247 | |||||||||||||||||
Intercompany_Transactions_Tabl
Intercompany Transactions (Tables) | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Intercompany Transactions [Abstract] | ' | |||||||||||
Intercompany Transactions | ' | |||||||||||
Three months ended March 31 | ||||||||||||
(In millions) | 2014 | 2013 | ||||||||||
Cash from (used for) operating activities-continuing operations | ||||||||||||
Combined | $ | 4,908 | $ | 3,354 | ||||||||
GE customer receivables sold to GECC | 731 | 976 | ||||||||||
GECC dividends to GE | -500 | - | ||||||||||
Other reclassifications and eliminations | -175 | 381 | ||||||||||
$ | 4,964 | $ | 4,711 | |||||||||
Cash from (used for) investing activities-continuing operations | ||||||||||||
Combined | $ | 3,612 | $ | 32,815 | ||||||||
GE customer receivables sold to GECC | -1,185 | -966 | ||||||||||
Other reclassifications and eliminations | -545 | -447 | ||||||||||
$ | 1,882 | $ | 31,402 | |||||||||
Cash from (used for) financing activities-continuing operations | ||||||||||||
Combined | $ | -10,169 | $ | -23,077 | ||||||||
GE customer receivables sold to GECC | 454 | -10 | ||||||||||
GECC dividends to GE | 500 | - | ||||||||||
Other reclassifications and eliminations | 720 | 146 | ||||||||||
$ | -8,495 | $ | -22,941 | |||||||||
Summary_of_Operating_Segments_2
Summary of Operating Segments (Details) (USD $) | 3 Months Ended | |||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | ||
Segment Reporting Information [Line Items] | ' | ' | ||
Revenues | $34,178 | $34,943 | ||
Corporate items and eliminations revenues | -886 | 801 | ||
Segment profit | 5,212 | 4,874 | ||
GE interest and other financial charges | -2,414 | -2,603 | ||
GE provision for income taxes | -516 | -508 | ||
Earnings (loss) from continuing operations | 2,987 | 3,647 | ||
Earnings (loss) from discontinued operations, net of taxes | 12 | -120 | ||
Consolidated net earnings attributable to the Company | 2,999 | 3,527 | ||
Percent Increase Decrease In Revenues | -0.02% | ' | ||
Favorable Unfavorable Change In Corporate items and eliminations | 'U | ' | ||
Percent increase decrease in GE interest and other financial charges | 0.13% | ' | ||
Percent increase decrease in GE provision for income taxes | -0.25% | ' | ||
Percent increase decrease in Earnings (loss) from continuing operations | -0.18% | ' | ||
Favorable Unfavorable Change In Earnings (loss) from discontinued operations, net of taxes | 'F | ' | ||
Percent increase decrease in net earnings attributable to the Company | -0.15% | ' | ||
Power And Water [Member] | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ||
Revenues | 5,509 | 4,825 | ||
Segment profit | 888 | 719 | ||
Percent Increase Decrease In Revenues | 0.14% | ' | ||
Percent increase decrease in Segment Profit | 0.24% | ' | ||
Oil And Gas [Member] | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ||
Revenues | 4,308 | 3,399 | ||
Segment profit | 446 | 325 | ||
Percent Increase Decrease In Revenues | 0.27% | ' | ||
Percent increase decrease in Segment Profit | 0.37% | ' | ||
Energy Management [Member] | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ||
Revenues | 1,672 | 1,748 | ||
Segment profit | 5 | 15 | ||
Percent Increase Decrease In Revenues | -0.04% | ' | ||
Percent increase decrease in Segment Profit | -0.67% | ' | ||
Aviation [Member] | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ||
Revenues | 5,778 | 5,074 | ||
Segment profit | 1,115 | 936 | ||
Percent Increase Decrease In Revenues | 0.14% | ' | ||
Percent increase decrease in Segment Profit | 0.19% | ' | ||
Healthcare [Member] | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ||
Revenues | 4,198 | 4,289 | ||
Segment profit | 570 | 595 | ||
Percent Increase Decrease In Revenues | -0.02% | ' | ||
Percent increase decrease in Segment Profit | -0.04% | ' | ||
Transportation [Member] | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ||
Revenues | 1,227 | 1,422 | ||
Segment profit | 202 | 267 | ||
Percent Increase Decrease In Revenues | -0.14% | ' | ||
Percent increase decrease in Segment Profit | -0.24% | ' | ||
Appliances And Lighting [Member] | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ||
Revenues | 1,857 | 1,917 | ||
Segment profit | 53 | 79 | ||
Percent Increase Decrease In Revenues | -0.03% | ' | ||
Percent increase decrease in Segment Profit | -0.33% | ' | ||
GE Capital [Member] | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ||
Revenues | 10,515 | 11,468 | ||
Segment profit | 1,933 | 1,938 | ||
Percent Increase Decrease In Revenues | -0.08% | ' | ||
Percent increase decrease in Segment Profit | 0.00% | ' | ||
Industrial Segments [Member] | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ||
Revenues | 24,549 | 22,674 | ||
Segment profit | 3,279 | 2,936 | ||
Percent Increase Decrease In Revenues | 0.08% | ' | ||
Percent increase decrease in Segment Profit | 0.12% | ' | ||
Total Segment Revenues [Member] | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ||
Revenues | 35,064 | 34,142 | ||
Percent Increase Decrease In Revenues | 0.03% | ' | ||
Percent increase decrease in Segment Profit | 0.07% | ' | ||
Corporate Items And Eliminations [Member] | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ||
Segment profit | -1,542 | -479 | ||
Favorable Unfavorable Change In Revenues | 'U | ' | ||
Subsidiaries [Member] | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ||
Revenues | 26,105 | [1] | 25,861 | [1] |
GE interest and other financial charges | -365 | [1] | -324 | [1] |
GE provision for income taxes | -318 | [1] | -424 | [1] |
Earnings (loss) from continuing operations | 2,987 | [1] | 3,647 | [1] |
Earnings (loss) from discontinued operations, net of taxes | 12 | [1] | -120 | [1] |
Consolidated net earnings attributable to the Company | $2,999 | [1] | $3,527 | [1] |
[1] | Represents the adding together of all affiliated companies except General Electric Capital Corporation (GECC or Financial Services), which is presented on a one-line basis. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Summary of Significant Accounting Policies [Abstract] | ' |
Unrecognized Tax Benefits Resulting in Net Operating Loss Carryforward | $1,224 |
Assets_and_Liabilities_of_Busi2
Assets and Liabilities of Businesses Held For Sale and Discontinued Operations (Narrative, Financial Information and NBCU) (Details) (USD $) | 3 Months Ended | 0 Months Ended | 0 Months Ended | 3 Months Ended | |||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Mar. 19, 2013 | Mar. 19, 2013 | Jul. 15, 2013 | Sep. 30, 2013 |
NBCU LLC [Member] | NBCU LLC [Member] | Portugal Consumer Auto Personal Loan [Member] | Machining And Fabrication Business [Member] | ||||
Commercial Real Estate Portfolio Segment [Member] | |||||||
Financial Information For Businesses Held For Sale [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Sale of Real Estate Held-for-investment | ' | ' | ' | $1,430 | ' | ' | ' |
Summarized financial information for business held for sale | ' | ' | ' | ' | ' | ' | ' |
Assets Held-for-sale, at Carrying Value | 48 | ' | 50 | ' | ' | ' | ' |
Liabilities of Assets Held-for-sale | 2 | ' | 6 | ' | ' | ' | ' |
Equity Method Investment, Ownership Percentage | ' | ' | ' | 49.00% | ' | ' | ' |
Proceeds from Divestiture of Businesses, Net of Cash Divested | 232 | 0 | ' | 11,997 | ' | 83 | 108 |
Guaranteed Debt Included In Sale Of Asset | ' | ' | ' | 4,000 | ' | ' | ' |
Preferred Stock, Value, Issued | 0 | ' | 0 | 725 | ' | ' | ' |
Consideration Received For Sale Of Business | ' | ' | ' | 16,722 | ' | ' | ' |
Pre Tax Gain On Sale Of Business | ' | ' | ' | 1,096 | 921 | ' | ' |
Gain On Sale Of Business Net Of Tax | ' | ' | ' | $825 | $564 | ' | ' |
Assets_and_Liabilities_of_Busi3
Assets and Liabilities of Businesses Held For Sale and Discontinued Operations (Discontinued Operations) (Details) (USD $) | 3 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Operations | ' | ' | ' |
Total revenues | $29 | $54 | ' |
Earnings (loss) from discontinued operations before income taxes | -14 | -142 | ' |
Benefit (provision) for income taxes | 7 | 124 | ' |
Income (Loss) from Discontinued Operations, Net of Taxes | -7 | -18 | ' |
Disposal | ' | ' | ' |
Gain (loss) on disposal before income taxes | 18 | -187 | ' |
Benefit (provision) for income taxes | 1 | 85 | ' |
Gain (loss) on disposal, net of taxes | 19 | -102 | ' |
Earnings (loss) from discontinued operations, net of taxes | 12 | -120 | ' |
Assets | ' | ' | ' |
Cash and cash equivalents | 133 | ' | 232 |
Financing Receivables - net | 1 | ' | 711 |
Other | 1,324 | ' | 1,396 |
Assets of discontinued operations | 1,458 | ' | 2,339 |
Liabilities | ' | ' | ' |
Deferred income taxes | 258 | ' | 248 |
Other | 1,008 | ' | 3,685 |
Liabilities of discontinued operations | $1,266 | ' | $3,933 |
Assets_and_Liabilities_of_Busi4
Assets and Liabilities of Businesses Held For Sale and Discontinued Operations (GE Money Japan Narrative) (Details) | 3 Months Ended | 12 Months Ended | ||||||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2014 | Feb. 26, 2014 | Feb. 26, 2014 |
USD ($) | USD ($) | GE Money Japan [Member] | GE Money Japan [Member] | GE Money Japan [Member] | GE Money Japan [Member] | GE Money Japan [Member] | GE Money Japan [Member] | |
USD ($) | USD ($) | USD ($) | JPY (¥) | USD ($) | JPY (¥) | |||
Financial Information For Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Tax Credit Carryforward, Expiration Date | ' | ' | 31-Dec-17 | ' | 31-Dec-17 | ' | ' | ' |
Other Partial Tax Credit Carryforward Expiration Date | ' | ' | 31-Dec-19 | ' | 31-Dec-19 | ' | ' | ' |
Gain (loss) on disposal of discontinued operations | ($19) | $102 | ' | ' | ' | ' | ' | ' |
Liability For Reimbursement Of Claims In Excess Of Statutory Interest Rate | ' | ' | 56 | ' | 1,836 | ' | ' | ' |
Threshold above which claims become company's responsibility | ' | ' | 3,000 | ' | ' | 258,000 | ' | ' |
Loss from discontinued operations, net of taxes | -12 | 120 | 1 | 51 | ' | ' | ' | ' |
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax | 18 | -187 | ' | ' | ' | ' | ' | ' |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | 12 | -120 | ' | ' | ' | ' | ' | ' |
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 $) | 3 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Roll Forward Of Reserve And Pending Claims [Abstract] | ' | ' | ' |
Revenues from discontinued operations | $29 | $54 | ' |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | 12 | -120 | ' |
WMC Discontinued Operations [Member] | ' | ' | ' |
Financial Information For Discontinued Operations [Line Items] | ' | ' | ' |
Adjustment For Pending Claims For Unmet Representations And Warranties | 250 | ' | ' |
Roll Forward Of Reserve And Pending Claims [Abstract] | ' | ' | ' |
Reserve, beginning of period | 800 | 633 | 633 |
Provision | 0 | 107 | ' |
Claim resolutions | -250 | 0 | ' |
Reserve, end of period | 550 | 740 | 800 |
Pending claims, beginning of period | 5,643 | ' | ' |
New claims | 6,989 | ' | 6,780 |
Pending claims, end of period | 4,466 | ' | 5,643 |
Claims Relating To Alleged Breaches Of Representations That Are Beyond Applicable Statute Of Llimitations | 700 | ' | ' |
Lawsuit Relating To Representations And Warranties Amount Of Mortgages | 11,455 | ' | ' |
Number Of Lawsuits Involving Repurchase Claims On Loans | 14 | ' | ' |
Number Of Securitizations Related To Lawsuits Involving repurchase Claims On Loans In Which Adverse Parties Are Securitization Trustees | 13 | ' | ' |
Revenues from discontinued operations | 4 | -107 | ' |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | -2 | -71 | ' |
WMC Discontinued Operations [Member] | Lower Limit [Member] | ' | ' | ' |
Roll Forward Of Reserve And Pending Claims [Abstract] | ' | ' | ' |
Increase To Reserve For Claims For Unmet Representations And Warranties For Adverse Effect In Assumptions | 0 | ' | ' |
WMC Discontinued Operations [Member] | Upper Limit [Member] | ' | ' | ' |
Roll Forward Of Reserve And Pending Claims [Abstract] | ' | ' | ' |
Increase To Reserve For Claims For Unmet Representations And Warranties For Adverse Effect In Assumptions | $500 | ' | ' |
Assets_and_Liabilities_of_Busi6
Assets and Liabilities of Businesses Held For Sale and Discontinued Operations (Other Financial Services and Industrial) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Trailer Services [Member] | Trailer Services [Member] | Trailer Services [Member] | Consumer Russia [Member] | Consumer Russia [Member] | Consumer Russia [Member] | |||
Financial Information For Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from discontinued operations | $29 | $54 | $1 | ' | $93 | $24 | $67 | ' |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | 12 | -120 | 13 | ' | 14 | 1 | -11 | ' |
Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity Insignificant Amount | 'an insignificant amount | ' | ' | ' | ' | ' | ' | ' |
Discontinued Operation, Provision for Loss (Gain) on Disposal, Net of Tax | ' | ' | ' | ' | ' | ' | ' | 170 |
Gain (loss) on disposal of discontinued operations | 19 | -102 | ' | ' | ' | 4 | ' | ' |
Proceeds from Divestiture of Businesses, Net of Cash Divested | 232 | 0 | ' | 528 | ' | 232 | ' | ' |
Benefit (provision) for income taxes | ($516) | ($508) | ' | ' | ' | ' | ' | ' |
Investment_Securities_Investme
Investment Securities (Investment) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 | ||
Investment [Line Items] | ' | ' | ||
Investments | $45,733 | $43,981 | ||
Consolidation, Eliminations [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Retained interests, Gross unrealized gain | 0 | 0 | ||
Retained interests, Gross unrealized loss | 0 | 0 | ||
Consolidation, Eliminations [Member] | Amortized Cost [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Marketable Securities | -3 | -4 | ||
Consolidation, Eliminations [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Marketable Securities | -3 | -4 | ||
Total [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Retained interests, Gross unrealized gain | 4,235 | 3,256 | ||
Retained interests, Gross unrealized loss | -572 | -749 | ||
Total [Member] | Amortized Cost [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Marketable Securities | 42,070 | 41,474 | ||
Total [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Marketable Securities | 45,733 | 43,981 | ||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Residential Mortgage Backed Securities [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt securities, Estimated fair value | 649 | ' | ||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Residential Mortgage Backed Securities [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt securities, Estimated fair value | 1,225 | ' | ||
Subsidiaries [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt and AFS securities, Amortized cost | ' | 13 | ||
Retained interests, Gross unrealized gain | 20 | 23 | ||
Trading Securities, Unrealized Holding Gain | 0 | 0 | ||
Trading Securities, Unrealized Holding Loss | 0 | 0 | ||
Retained interests, Gross unrealized loss | -70 | -42 | ||
Investments | 286 | [1] | 323 | [1] |
Subsidiaries [Member] | Amortized Cost [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Trading Securities | 0 | 6 | ||
Marketable Securities | 336 | 342 | ||
Subsidiaries [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Trading Securities | 0 | 6 | ||
Marketable Securities | 286 | 323 | ||
Debt securities, Estimated fair value | ' | 12 | ||
Subsidiaries [Member] | Domestic Corporate Debt Securities [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt and AFS securities, Amortized cost | 22 | 21 | ||
Debt securities, Gross unrealized gains | 11 | 14 | ||
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 | 33 | 35 | ||
Subsidiaries [Member] | US States and Political Subdivisions Debt Securities [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt and AFS securities, Amortized cost | 13 | ' | ||
Subsidiaries [Member] | Foreign Corporate Debt Securities [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt securities, Gross unrealized gains | 0 | 0 | ||
Debt securities, Gross unrealized losses | 0 | -1 | ||
Subsidiaries [Member] | Foreign Corporate Debt Securities [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt securities, Estimated fair value | 13 | ' | ||
Subsidiaries [Member] | Available-for-sale Securities [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt and AFS securities, Amortized cost | 301 | 302 | ||
Available-for-sale Equity Securities, Gross Unrealized Loss | -70 | -41 | ||
Available-for-sale Equity Securities, Gross Unrealized Gain | 9 | 9 | ||
Subsidiaries [Member] | Available-for-sale Securities [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Available-for-sale Securities, Equity, Estimated fair value | 240 | 270 | ||
Subsidiaries GECC [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Investments | 45,450 | 43,662 | ||
Subsidiaries GECC [Member] | Domestic Corporate Debt Securities [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt and AFS securities, Amortized cost | 19,711 | 19,600 | ||
Debt securities, Gross unrealized gains | 3,088 | 2,323 | ||
Debt securities, Gross unrealized losses | -138 | -217 | ||
Subsidiaries GECC [Member] | Domestic Corporate Debt Securities [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt securities, Estimated fair value | 22,661 | 21,706 | ||
Subsidiaries GECC [Member] | US States and Political Subdivisions Debt Securities [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt and AFS securities, Amortized cost | 5,115 | 4,245 | ||
Debt securities, Gross unrealized gains | 409 | 235 | ||
Debt securities, Gross unrealized losses | -130 | -191 | ||
Subsidiaries GECC [Member] | US States and Political Subdivisions Debt Securities [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt securities, Estimated fair value | 5,394 | 4,289 | ||
Subsidiaries GECC [Member] | Residential Mortgage Backed Securities [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt and AFS securities, Amortized cost | 1,770 | 1,819 | ||
Debt securities, Gross unrealized gains | 143 | 139 | ||
Debt securities, Gross unrealized losses | -39 | -48 | ||
Subsidiaries GECC [Member] | Residential Mortgage Backed Securities [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt securities, Estimated fair value | 1,874 | 1,910 | ||
Subsidiaries GECC [Member] | Commercial Mortgage Backed Securities [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt and AFS securities, Amortized cost | 2,986 | 2,929 | ||
Debt securities, Gross unrealized gains | 198 | 188 | ||
Debt securities, Gross unrealized losses | -61 | -82 | ||
Subsidiaries GECC [Member] | Commercial Mortgage Backed Securities [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt securities, Estimated fair value | 3,123 | 3,035 | ||
Subsidiaries GECC [Member] | Asset-backed Securities [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt and AFS securities, Amortized cost | 7,347 | 7,373 | ||
Debt securities, Gross unrealized gains | 32 | 60 | ||
Debt securities, Gross unrealized losses | -41 | -46 | ||
Subsidiaries GECC [Member] | Asset-backed Securities [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt securities, Estimated fair value | 7,338 | 7,387 | ||
Subsidiaries GECC [Member] | Foreign Corporate Debt Securities [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt and AFS securities, Amortized cost | 1,716 | 1,741 | ||
Debt securities, Gross unrealized gains | 137 | 103 | ||
Debt securities, Gross unrealized losses | -64 | -86 | ||
Subsidiaries GECC [Member] | Foreign Corporate Debt Securities [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt securities, Estimated fair value | 1,789 | 1,758 | ||
Subsidiaries GECC [Member] | Foreign Government Debt Securities [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt and AFS securities, Amortized cost | 2,058 | 2,336 | ||
Debt securities, Gross unrealized gains | 103 | 81 | ||
Debt securities, Gross unrealized losses | -3 | -7 | ||
Subsidiaries GECC [Member] | Foreign Government Debt Securities [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt securities, Estimated fair value | 2,158 | 2,410 | ||
Subsidiaries GECC [Member] | US Treasury and Government [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt and AFS securities, Amortized cost | 707 | 752 | ||
Debt securities, Gross unrealized gains | 48 | 45 | ||
Debt securities, Gross unrealized losses | -18 | -27 | ||
Subsidiaries GECC [Member] | US Treasury and Government [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt securities, Estimated fair value | 737 | 770 | ||
Subsidiaries GECC [Member] | Retained Interest [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt and AFS securities, Amortized cost | 64 | 64 | ||
Retained interests, Gross unrealized gain | 11 | 8 | ||
Retained interests, Gross unrealized loss | 0 | 0 | ||
Retained interests, Estimated fair value | 75 | 72 | ||
Subsidiaries GECC [Member] | Available-for-sale Securities [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Debt and AFS securities, Amortized cost | 195 | 203 | ||
Retained interests, Gross unrealized gain | 46 | 51 | ||
Available-for-sale Equity Securities, Gross Unrealized Loss | -8 | -3 | ||
Subsidiaries GECC [Member] | Available-for-sale Securities [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Available-for-sale Securities, Equity, Estimated fair value | 233 | 251 | ||
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 | 68 | 74 | ||
Subsidiaries GECC [Member] | Trading Securities [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Trading Securities | 68 | 74 | ||
Subsidiaries GECC [Member] | Sub Total [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Retained interests, Gross unrealized gain | 4,215 | 3,233 | ||
Retained interests, Gross unrealized loss | -502 | -707 | ||
Subsidiaries GECC [Member] | Sub Total [Member] | Amortized Cost [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Marketable Securities | 41,737 | 41,136 | ||
Subsidiaries GECC [Member] | Sub Total [Member] | Estimated Fair Value [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Marketable Securities | $45,450 | $43,662 | ||
[1] | Represents the adding together of all affiliated companies except General Electric Capital Corporation (GECC or Financial Services), which is presented on a one-line basis. |
Investment_Securities_Investme1
Investment Securities (Investments, by type and length in continuous loss position) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | ' | ' |
Percent of Gross unrealized losses, 12 months or more, considered investment grade | 70.00% | ' |
OTTI previously recognized through OCI on securities held, gross unrealized losses | ($85) | ' |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Residential Mortgage Backed Securities [Member] | ' | ' |
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | ' | ' |
Debt securities, Estimated fair value | 649 | ' |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Residential Mortgage Backed Securities [Member] | ' | ' |
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | ' | ' |
Debt securities, Estimated fair value | 1,225 | ' |
Domestic Corporate Debt Securities [Member] | ' | ' |
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | ' | ' |
Estimated fair value, less than 12 months | 1,578 | 2,170 |
Gross unrealized losses, less than 12 months | -63 | -122 |
Estimated fair value, 12 months or more | 563 | 598 |
Gross unrealized losses, 12 months or more | -75 | -95 |
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 | 942 | 1,076 |
Gross unrealized losses, less than 12 months | -37 | -82 |
Estimated fair value, 12 months or more | 347 | 367 |
Gross unrealized losses, 12 months or more | -93 | -109 |
Residential Mortgage Backed Securities [Member] | ' | ' |
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | ' | ' |
Estimated fair value, less than 12 months | 187 | 232 |
Gross unrealized losses, less than 12 months | -6 | -11 |
Estimated fair value, 12 months or more | 430 | 430 |
Gross unrealized losses, 12 months or more | -33 | -37 |
Mortgage-backed Securities, Residential, Subprime, Financing Receivable [Member] | ' | ' |
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | ' | ' |
Debt securities, Estimated fair value | 355 | ' |
Commercial Mortgage Backed Securities [Member] | ' | ' |
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | ' | ' |
Estimated fair value, less than 12 months | 254 | 396 |
Gross unrealized losses, less than 12 months | -11 | -24 |
Estimated fair value, 12 months or more | 803 | 780 |
Gross unrealized losses, 12 months or more | -50 | -58 |
Asset-backed Securities [Member] | ' | ' |
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | ' | ' |
Estimated fair value, less than 12 months | 101 | 112 |
Gross unrealized losses, less than 12 months | -1 | -2 |
Estimated fair value, 12 months or more | 294 | 359 |
Gross unrealized losses, 12 months or more | -40 | -44 |
Foreign Corporate Debt Securities [Member] | ' | ' |
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | ' | ' |
Estimated fair value, less than 12 months | 56 | 108 |
Gross unrealized losses, less than 12 months | -1 | -4 |
Estimated fair value, 12 months or more | 430 | 454 |
Gross unrealized losses, 12 months or more | -63 | -83 |
Foreign Government Debt Securities [Member] | ' | ' |
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | ' | ' |
Estimated fair value, less than 12 months | 1,098 | 1,479 |
Gross unrealized losses, less than 12 months | -3 | -6 |
Estimated fair value, 12 months or more | 52 | 42 |
Gross unrealized losses, 12 months or more | 0 | -1 |
US Treasury and Government [Member] | ' | ' |
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | ' | ' |
Estimated fair value, less than 12 months | 238 | 229 |
Gross unrealized losses, less than 12 months | -18 | -27 |
Estimated fair value, 12 months or more | 0 | 254 |
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 | 1 | 2 |
Gross unrealized losses, less than 12 months | 0 | 0 |
Estimated fair value, 12 months or more | 1 | 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 | 250 | 253 |
Gross unrealized losses, less than 12 months | -78 | -44 |
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 | 4,705 | 6,057 |
Gross unrealized losses, less than 12 months | -218 | -322 |
Estimated fair value, 12 months or more | 2,920 | 3,284 |
Gross unrealized losses, 12 months or more | -354 | -427 |
Subsidiaries [Member] | Foreign Corporate Debt Securities [Member] | ' | ' |
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | ' | ' |
Estimated fair value, less than 12 months | 13 | 12 |
Gross unrealized losses, less than 12 months | ' | 1 |
Insignificant gross unrealized losses, less than 12 months | 'an insignificant amount | ' |
Subsidiaries [Member] | Equity Securities [Member] | ' | ' |
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract] | ' | ' |
Estimated fair value, less than 12 months | 210 | 222 |
Gross unrealized losses, less than 12 months | $70 | $41 |
Investment_Securities_Impairme
Investment Securities (Impairments) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Pre-tax, Other-Than-Temporary Impairments on Investment Securities | ' | ' |
Total pre tax, OTTI recognized | $38 | $302 |
Less: pre-tax, OTTI recognized in AOCI | -4 | -11 |
Pre-tax, OTTI recognized in earnings | 34 | 291 |
Other Than Temporary Impairment Related To Equity Securities | 1 | 1 |
Changes in Cumulative Credit Loss Impairments Recognized on Debt Securities | ' | ' |
Cumulative credit loss impairments recognized, beginning of period | 1,192 | 588 |
Credit loss impairments recognized on securities not previously impaired | 0 | 263 |
Incremental credit loss impairments recognized on securities previously impaired | 29 | 12 |
Less: credit loss impairments previously recognized on securities sold during the period | -51 | -1 |
Cumulative credit loss impairments recognized, end of period | $1,170 | $862 |
Investment_Securities_Contract
Investment Securities (Contractual maturities) (Details) (USD $) | Mar. 31, 2014 |
In Millions, unless otherwise specified | |
Amortized cost | ' |
Within one year | $1,870 |
After one year through five years | 3,633 |
After five years through ten years | 5,349 |
After ten years | 18,490 |
Estimated fair value | ' |
Within one year | 1,887 |
After one year through five years | 3,896 |
After five years through ten years | 5,641 |
After ten years | $21,361 |
Investment_Securities_Gross_Re
Investment Securities (Gross Realized Gain Losses) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Available For Sale Investment Securities Gross Realized Gain Losses [Line Items] | ' | ' |
Total | ($17) | ($228) |
Available-for-sale Securities, Gross Realized Gains (Losses), Sale Proceeds | 1,349 | 7,654 |
Net pre-tax gains (loss) on trading securities | -5 | 42 |
Subsidiaries [Member] | ' | ' |
Available For Sale Investment Securities Gross Realized Gain Losses [Line Items] | ' | ' |
Gains | 0 | 1 |
Losses, including impairments | 0 | -13 |
Total | 0 | -12 |
Subsidiaries GECC [Member] | ' | ' |
Available For Sale Investment Securities Gross Realized Gain Losses [Line Items] | ' | ' |
Gains | 19 | 62 |
Losses, including impairments | -36 | -278 |
Total | ($17) | ($216) |
Inventories_Details
Inventories (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Inventory, Net [Abstract] | ' | ' |
Raw materials and work in process | $10,447 | $10,220 |
Finished goods | 7,911 | 6,794 |
Unbilled shipments | 766 | 584 |
Inventory, Gross, Total | 19,124 | 17,598 |
Less revaluation to LIFO | -243 | -273 |
Total | $18,881 | $17,325 |
GECC_Financing_Receivables_All2
GECC Financing Receivables, Allowance For Losses On Financing Receivables and Supplemental Information On Credit Quality (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Financing receivables, net | $237,005 | $241,940 | ' | ' |
Subsidiaries GECC [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans and leases receivable, Gross | 252,386 | 258,207 | ' | ' |
Less allowance for losses | -5,144 | -5,178 | -5,303 | -4,944 |
Financing receivables, net | 247,242 | 253,029 | ' | ' |
Deferred income | 1,714 | 2,013 | ' | ' |
Loans that have been acquired in a transfer but have been subject to credit deterioration since origination per ASC 310, Receivables | 532 | 544 | ' | ' |
Subsidiaries GECC [Member] | Loans and Finance Receivables [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans and leases receivable, Gross | 226,135 | 231,268 | ' | ' |
Subsidiaries GECC [Member] | Financing Receivable [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans and leases receivable, Gross | $26,251 | $26,939 | ' | ' |
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) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Financing receivables - net | $237,005 | $241,940 | ' | ' |
Subsidiaries GECC [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 252,386 | 258,207 | ' | ' |
Less allowance for losses | -5,144 | -5,178 | -5,303 | -4,944 |
Financing receivables - net | 247,242 | 253,029 | ' | ' |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 126,318 | 129,269 | ' | ' |
Less allowance for losses | -909 | -1,005 | -993 | -1,041 |
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 | 68,367 | 69,036 | ' | ' |
Less allowance for losses | -419 | -473 | -493 | -496 |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | GE International [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 46,208 | 47,431 | ' | ' |
Less allowance for losses | -449 | -505 | -483 | -525 |
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 | 114,575 | 116,467 | ' | ' |
Less allowance for losses | -868 | -978 | -976 | -1,021 |
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 | 2,753 | 3,107 | ' | ' |
Less allowance for losses | -16 | -8 | -8 | -9 |
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 | 8,851 | 9,377 | ' | ' |
Less allowance for losses | -25 | -17 | -7 | -8 |
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 | 139 | 318 | ' | ' |
Less allowance for losses | 0 | -2 | -2 | -3 |
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 | 20,236 | 19,899 | ' | ' |
Less allowance for losses | -175 | -192 | -265 | -320 |
Subsidiaries GECC [Member] | Consumer Portfolio Segment [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 105,832 | 109,039 | ' | ' |
Less allowance for losses | -4,060 | -3,981 | -4,045 | -3,583 |
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 | 30,355 | 30,501 | ' | ' |
Less allowance for losses | -336 | -358 | -476 | -480 |
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 | 13,715 | 13,677 | ' | ' |
Less allowance for losses | -588 | -594 | -657 | -582 |
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 | 52,887 | 55,854 | ' | ' |
Less allowance for losses | -2,947 | -2,823 | -2,665 | -2,282 |
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 | 1,957 | 2,054 | ' | ' |
Less allowance for losses | -61 | -56 | -66 | -67 |
Subsidiaries GECC [Member] | Consumer Portfolio Segment [Member] | Consumer Other Financing Receivable [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 6,918 | 6,953 | ' | ' |
Less allowance for losses | ($128) | ($150) | ($181) | ($172) |
GECC_Financing_Receivables_All4
GECC Financing Receivables, Allowance For Losses On Financing Receivables and Supplemental Information On Credit Quality (Allowance for Losses on Financing Receivables) (Details) (Subsidiaries GECC [Member], USD $) | 3 Months Ended | |||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Total balance | $5,144 | $5,303 | $5,178 | $4,944 |
Provision charged | 970 | 1,457 | ' | ' |
Other | 17 | -96 | ' | ' |
Gross write-offs | -1,347 | -1,395 | ' | ' |
Recoveries | 326 | 393 | ' | ' |
Commercial Portfolio Segment [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Total balance | 909 | 993 | 1,005 | 1,041 |
Provision charged | 119 | 163 | ' | ' |
Other | -1 | -11 | ' | ' |
Gross write-offs | -258 | -254 | ' | ' |
Recoveries | 44 | 54 | ' | ' |
Commercial Portfolio Segment [Member] | Americas CLL Financing Receivables [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Total balance | 419 | 493 | 473 | 496 |
Provision charged | 84 | 71 | ' | ' |
Other | -1 | -1 | ' | ' |
Gross write-offs | -156 | -103 | ' | ' |
Recoveries | 19 | 30 | ' | ' |
Commercial Portfolio Segment [Member] | GE International [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Total balance | 449 | 483 | 505 | 525 |
Provision charged | 18 | 94 | ' | ' |
Other | 2 | -10 | ' | ' |
Gross write-offs | -100 | -150 | ' | ' |
Recoveries | 24 | 24 | ' | ' |
Commercial Portfolio Segment [Member] | CLL Financing Receivables [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Total balance | 868 | 976 | 978 | 1,021 |
Provision charged | 102 | 165 | ' | ' |
Other | 1 | -11 | ' | ' |
Gross write-offs | -256 | -253 | ' | ' |
Recoveries | 43 | 54 | ' | ' |
Commercial Portfolio Segment [Member] | Energy Financial Services Financing Receivables [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Total balance | 16 | 8 | 8 | 9 |
Provision charged | 9 | -1 | ' | ' |
Other | 0 | 0 | ' | ' |
Gross write-offs | -2 | 0 | ' | ' |
Recoveries | 1 | 0 | ' | ' |
Commercial Portfolio Segment [Member] | GECAS Financing Receivables [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Total balance | 25 | 7 | 17 | 8 |
Provision charged | 8 | -1 | ' | ' |
Other | 0 | 0 | ' | ' |
Gross write-offs | 0 | 0 | ' | ' |
Recoveries | 0 | 0 | ' | ' |
Commercial Portfolio Segment [Member] | Other Financing Receivables [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Total balance | 0 | 2 | 2 | 3 |
Provision charged | 0 | 0 | ' | ' |
Other | -2 | 0 | ' | ' |
Gross write-offs | 0 | -1 | ' | ' |
Recoveries | 0 | 0 | ' | ' |
Commercial Real Estate Portfolio Segment [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Total balance | 175 | 265 | 192 | 320 |
Provision charged | -15 | -20 | ' | ' |
Other | 2 | -6 | ' | ' |
Gross write-offs | -6 | -29 | ' | ' |
Recoveries | 2 | 0 | ' | ' |
Consumer Portfolio Segment [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Total balance | 4,060 | 4,045 | 3,981 | 3,583 |
Provision charged | 866 | 1,314 | ' | ' |
Other | 16 | -79 | ' | ' |
Gross write-offs | -1,083 | -1,112 | ' | ' |
Recoveries | 280 | 339 | ' | ' |
Consumer Portfolio Segment [Member] | Non US residential mortgages [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Total balance | 336 | 476 | 358 | 480 |
Provision charged | 10 | 56 | ' | ' |
Other | 5 | -17 | ' | ' |
Gross write-offs | -46 | -55 | ' | ' |
Recoveries | 9 | 12 | ' | ' |
Consumer Portfolio Segment [Member] | Non US installment and revolving credit [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Total balance | 588 | 657 | 594 | 582 |
Provision charged | 71 | 180 | ' | ' |
Other | 8 | -14 | ' | ' |
Gross write-offs | -189 | -231 | ' | ' |
Recoveries | 104 | 140 | ' | ' |
Consumer Portfolio Segment [Member] | US installment and revolving credit [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Total balance | 2,947 | 2,665 | 2,823 | 2,282 |
Provision charged | 752 | 1,014 | ' | ' |
Other | 18 | -50 | ' | ' |
Gross write-offs | -785 | -744 | ' | ' |
Recoveries | 139 | 163 | ' | ' |
Consumer Portfolio Segment [Member] | Non US auto [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Total balance | 61 | 66 | 56 | 67 |
Provision charged | 12 | 17 | ' | ' |
Other | 2 | -5 | ' | ' |
Gross write-offs | -23 | -30 | ' | ' |
Recoveries | 14 | 17 | ' | ' |
Consumer Portfolio Segment [Member] | Consumer Other Financing Receivable [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Total balance | 128 | 181 | 150 | 172 |
Provision charged | 21 | 47 | ' | ' |
Other | -17 | 7 | ' | ' |
Gross write-offs | -40 | -52 | ' | ' |
Recoveries | $14 | $7 | ' | ' |
GECC_Financing_Receivables_All5
GECC Financing Receivables, Allowance For Losses On Financing Receivables and Supplemental Information On Credit Quality (Past Due & Nonaccrual Financing Receivables) (Details) (Subsidiaries GECC [Member], USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 |
In Millions, unless otherwise specified | |||
Past Due Financing Receivables | ' | ' | ' |
Over 30 days past due | $8,810 | $9,113 | ' |
Over 90 days past due | 4,906 | 4,858 | ' |
Percent of Financing Receivable, Recorded Investment, Past Due Over 30 Days | 3.50% | 3.50% | ' |
Percent of Financing Receivable, Recorded Investment, Past Due Over 90 Days | 1.90% | 1.90% | ' |
Nonaccrual Financing Receivables | ' | ' | ' |
Nonaccrual loans | 7,921 | 7,915 | ' |
Percent Financing Receivable, Recorded Investment, Nonaccrual Status | 3.10% | 3.10% | ' |
Commercial Portfolio Segment [Member] | ' | ' | ' |
Past Due Financing Receivables | ' | ' | ' |
Over 30 days past due | 2,457 | 2,245 | ' |
Over 90 days past due | 1,336 | 1,179 | ' |
Nonaccrual Financing Receivables | ' | ' | ' |
Nonaccrual loans | 2,972 | 2,744 | ' |
Amount of nonaccrual loans currently paying in accordance with contractual terms | 1,596 | ' | 1,397 |
Commercial Portfolio Segment [Member] | Energy Financial Services Financing Receivables [Member] | ' | ' | ' |
Past Due Financing Receivables | ' | ' | ' |
Over 30 days past due | 0 | 0 | ' |
Over 90 days past due | 0 | 0 | ' |
Nonaccrual Financing Receivables | ' | ' | ' |
Nonaccrual loans | 43 | 4 | ' |
Commercial Portfolio Segment [Member] | GECAS Financing Receivables [Member] | ' | ' | ' |
Past Due Financing Receivables | ' | ' | ' |
Over 30 days past due | 1 | 0 | ' |
Over 90 days past due | 0 | 0 | ' |
Nonaccrual Financing Receivables | ' | ' | ' |
Nonaccrual loans | 275 | 0 | ' |
Commercial Portfolio Segment [Member] | Other Financing Receivables [Member] | ' | ' | ' |
Past Due Financing Receivables | ' | ' | ' |
Over 30 days past due | 0 | 0 | ' |
Over 90 days past due | 0 | 0 | ' |
Nonaccrual Financing Receivables | ' | ' | ' |
Nonaccrual loans | 0 | 6 | ' |
Commercial Portfolio Segment [Member] | Americas CLL Financing Receivables [Member] | ' | ' | ' |
Past Due Financing Receivables | ' | ' | ' |
Over 30 days past due | 713 | 755 | ' |
Over 90 days past due | 390 | 359 | ' |
Nonaccrual Financing Receivables | ' | ' | ' |
Nonaccrual loans | 1,239 | 1,275 | ' |
Commercial Portfolio Segment [Member] | GE International [Member] | ' | ' | ' |
Past Due Financing Receivables | ' | ' | ' |
Over 30 days past due | 1,743 | 1,490 | ' |
Over 90 days past due | 946 | 820 | ' |
Nonaccrual Financing Receivables | ' | ' | ' |
Nonaccrual loans | 1,415 | 1,459 | ' |
Commercial Portfolio Segment [Member] | CLL Financing Receivables [Member] | ' | ' | ' |
Past Due Financing Receivables | ' | ' | ' |
Over 30 days past due | 2,456 | 2,245 | ' |
Over 90 days past due | 1,336 | 1,179 | ' |
Nonaccrual Financing Receivables | ' | ' | ' |
Nonaccrual loans | 2,654 | 2,734 | ' |
Commercial Real Estate Portfolio Segment [Member] | ' | ' | ' |
Past Due Financing Receivables | ' | ' | ' |
Over 30 days past due | 263 | 247 | ' |
Over 90 days past due | 207 | 212 | ' |
Nonaccrual Financing Receivables | ' | ' | ' |
Nonaccrual loans | 2,383 | 2,551 | ' |
Amount of nonaccrual loans currently paying in accordance with contractual terms | 2,127 | ' | 2,308 |
Consumer Portfolio Segment [Member] | ' | ' | ' |
Past Due Financing Receivables | ' | ' | ' |
Over 30 days past due | 6,090 | 6,621 | ' |
Over 90 days past due | 3,363 | 3,467 | ' |
Loans which are 90+ days past due and still accruing interest | 1,150 | 1,197 | ' |
Nonaccrual Financing Receivables | ' | ' | ' |
Nonaccrual loans | 2,566 | 2,620 | ' |
Amount of nonaccrual loans currently paying in accordance with contractual terms | 311 | ' | 323 |
Consumer Portfolio Segment [Member] | Non US residential mortgages [Member] | ' | ' | ' |
Past Due Financing Receivables | ' | ' | ' |
Over 30 days past due | 3,130 | 3,406 | ' |
Over 90 days past due | 2,082 | 2,104 | ' |
Nonaccrual Financing Receivables | ' | ' | ' |
Nonaccrual loans | 2,140 | 2,161 | ' |
Consumer Portfolio Segment [Member] | Non US installment and revolving credit [Member] | ' | ' | ' |
Past Due Financing Receivables | ' | ' | ' |
Over 30 days past due | 533 | 512 | ' |
Over 90 days past due | 152 | 146 | ' |
Nonaccrual Financing Receivables | ' | ' | ' |
Nonaccrual loans | 73 | 88 | ' |
Consumer Portfolio Segment [Member] | US installment and revolving credit [Member] | ' | ' | ' |
Past Due Financing Receivables | ' | ' | ' |
Over 30 days past due | 2,169 | 2,442 | ' |
Over 90 days past due | 1,028 | 1,105 | ' |
Nonaccrual Financing Receivables | ' | ' | ' |
Nonaccrual loans | 2 | 2 | ' |
Consumer Portfolio Segment [Member] | Non US auto [Member] | ' | ' | ' |
Past Due Financing Receivables | ' | ' | ' |
Over 30 days past due | 93 | 89 | ' |
Over 90 days past due | 12 | 13 | ' |
Nonaccrual Financing Receivables | ' | ' | ' |
Nonaccrual loans | 16 | 18 | ' |
Consumer Portfolio Segment [Member] | Consumer Other Financing Receivable [Member] | ' | ' | ' |
Past Due Financing Receivables | ' | ' | ' |
Over 30 days past due | 165 | 172 | ' |
Over 90 days past due | 89 | 99 | ' |
Nonaccrual Financing Receivables | ' | ' | ' |
Nonaccrual loans | $335 | $351 | ' |
GECC_Financing_Receivables_All6
GECC Financing Receivables, Allowance For Losses On Financing Receivables and Supplemental Information On Credit Quality (Impaired Loans) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Commercial Portfolio Segment [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Average investment during the period | $3,933 | ' | $4,445 |
Subsidiaries GECC [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Total impaired loans | 10,604 | ' | 10,740 |
Allowance for losses (specific reserves) | 842 | ' | 969 |
Financing Receivables and Allowance for Losses | ' | ' | ' |
Non-impaired financing receivables | 241,782 | ' | 247,467 |
General reserves | 4,302 | ' | 4,209 |
Total impaired loans | 10,604 | ' | 10,740 |
Allowance for losses (specific reserves) | 842 | ' | 969 |
Subsidiaries GECC [Member] | No Related Allowance [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Total impaired loans | 6,081 | ' | 5,500 |
Unpaid principal balance | 8,092 | ' | 7,317 |
Average investment during the period | 5,790 | ' | 6,455 |
Financing Receivables and Allowance for Losses | ' | ' | ' |
Total impaired loans | 6,081 | ' | 5,500 |
Subsidiaries GECC [Member] | Related Allowance [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Total impaired loans | 4,523 | ' | 5,240 |
Unpaid principal balance | 5,088 | ' | 6,014 |
Allowance for losses (specific reserves) | 842 | ' | 969 |
Average investment during the period | 4,881 | ' | 5,892 |
Financing Receivables and Allowance for Losses | ' | ' | ' |
Total impaired loans | 4,523 | ' | 5,240 |
Allowance for losses (specific reserves) | 842 | ' | 969 |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Total impaired loans | 3,974 | ' | 3,892 |
Allowance for losses (specific reserves) | 229 | ' | 328 |
Interest income recognized | 57 | 53 | 218 |
Interest income recognized on a cash basis | 0 | 16 | 60 |
Financing Receivables and Allowance for Losses | ' | ' | ' |
Non-impaired financing receivables | 122,344 | ' | 125,377 |
General reserves | 680 | ' | 677 |
Total impaired loans | 3,974 | ' | 3,892 |
Allowance for losses (specific reserves) | 229 | ' | 328 |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | No Related Allowance [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Total impaired loans | 3,024 | ' | 2,776 |
Unpaid principal balance | 4,475 | ' | 4,128 |
Average investment during the period | 2,900 | ' | 3,299 |
Financing Receivables and Allowance for Losses | ' | ' | ' |
Total impaired loans | 3,024 | ' | 2,776 |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | Related Allowance [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Total impaired loans | 950 | ' | 1,116 |
Unpaid principal balance | 1,363 | ' | 1,559 |
Allowance for losses (specific reserves) | 229 | ' | 328 |
Average investment during the period | 1,033 | ' | 1,146 |
Financing Receivables and Allowance for Losses | ' | ' | ' |
Total impaired loans | 950 | ' | 1,116 |
Allowance for losses (specific reserves) | 229 | ' | 328 |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | Energy Financial Services Financing Receivables [Member] | No Related Allowance [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Total impaired loans | 18 | ' | 0 |
Unpaid principal balance | 18 | ' | 0 |
Average investment during the period | 9 | ' | 0 |
Financing Receivables and Allowance for Losses | ' | ' | ' |
Total impaired loans | 18 | ' | 0 |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | Energy Financial Services Financing Receivables [Member] | Related Allowance [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Total impaired loans | 26 | ' | 4 |
Unpaid principal balance | 26 | ' | 4 |
Allowance for losses (specific reserves) | 3 | ' | 1 |
Average investment during the period | 15 | ' | 2 |
Financing Receivables and Allowance for Losses | ' | ' | ' |
Total impaired loans | 26 | ' | 4 |
Allowance for losses (specific reserves) | 3 | ' | 1 |
Subsidiaries GECC [Member] | 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 during the period | 0 | ' | 0 |
Financing Receivables and Allowance for Losses | ' | ' | ' |
Total impaired loans | 0 | ' | 0 |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | GECAS Financing Receivables [Member] | Related Allowance [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Total impaired loans | 65 | ' | 0 |
Unpaid principal balance | 65 | ' | 0 |
Allowance for losses (specific reserves) | 8 | ' | 0 |
Average investment during the period | 32 | ' | 1 |
Financing Receivables and Allowance for Losses | ' | ' | ' |
Total impaired loans | 65 | ' | 0 |
Allowance for losses (specific reserves) | 8 | ' | 0 |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | Other Financing Receivables [Member] | No Related Allowance [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Total impaired loans | 0 | ' | 2 |
Unpaid principal balance | 0 | ' | 3 |
Average investment during the period | 1 | ' | 9 |
Financing Receivables and Allowance for Losses | ' | ' | ' |
Total impaired loans | 0 | ' | 2 |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | Other Financing Receivables [Member] | Related Allowance [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Total impaired loans | 0 | ' | 4 |
Unpaid principal balance | 0 | ' | 4 |
Allowance for losses (specific reserves) | 0 | ' | 0 |
Average investment during the period | 2 | ' | 5 |
Financing Receivables and Allowance for Losses | ' | ' | ' |
Total impaired loans | 0 | ' | 4 |
Allowance for losses (specific reserves) | 0 | ' | 0 |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | Americas CLL Financing Receivables [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Changes In Loans Modified As Troubled Debt Restructurings | 176 | ' | ' |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | Americas CLL Financing Receivables [Member] | Troubled Debt Restructuring [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment | 1,676 | ' | 1,770 |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | Americas CLL Financing Receivables [Member] | No Related Allowance [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Total impaired loans | 1,792 | ' | 1,670 |
Unpaid principal balance | 2,385 | ' | 2,187 |
Average investment during the period | 1,731 | ' | 2,154 |
Financing Receivables and Allowance for Losses | ' | ' | ' |
Total impaired loans | 1,792 | ' | 1,670 |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | Americas CLL Financing Receivables [Member] | Related Allowance [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Total impaired loans | 257 | ' | 417 |
Unpaid principal balance | 354 | ' | 505 |
Allowance for losses (specific reserves) | 49 | ' | 96 |
Average investment during the period | 337 | ' | 509 |
Financing Receivables and Allowance for Losses | ' | ' | ' |
Total impaired loans | 257 | ' | 417 |
Allowance for losses (specific reserves) | 49 | ' | 96 |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | GE International [Member] | No Related Allowance [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Total impaired loans | 1,214 | ' | 1,104 |
Unpaid principal balance | 2,072 | ' | 1,938 |
Average investment during the period | 1,159 | ' | 1,136 |
Financing Receivables and Allowance for Losses | ' | ' | ' |
Total impaired loans | 1,214 | ' | 1,104 |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | GE International [Member] | Related Allowance [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Total impaired loans | 602 | ' | 691 |
Unpaid principal balance | 918 | ' | 1,046 |
Allowance for losses (specific reserves) | 169 | ' | 231 |
Average investment during the period | 647 | ' | 629 |
Financing Receivables and Allowance for Losses | ' | ' | ' |
Total impaired loans | 602 | ' | 691 |
Allowance for losses (specific reserves) | 169 | ' | 231 |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | CLL Financing Receivables [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Changes In Loans Modified As Troubled Debt Restructurings | 295 | ' | ' |
Loans Modified As Troubled Debt Restructuring That Have Subsequently Experienced Payment Default | 19 | 44 | ' |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | CLL Financing Receivables [Member] | Troubled Debt Restructuring [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment | 2,916 | ' | 2,961 |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | CLL Financing Receivables [Member] | No Related Allowance [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Total impaired loans | 3,006 | ' | 2,774 |
Unpaid principal balance | 4,457 | ' | 4,125 |
Average investment during the period | 2,890 | ' | 3,290 |
Financing Receivables and Allowance for Losses | ' | ' | ' |
Total impaired loans | 3,006 | ' | 2,774 |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | CLL Financing Receivables [Member] | Related Allowance [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Total impaired loans | 859 | ' | 1,108 |
Unpaid principal balance | 1,272 | ' | 1,551 |
Allowance for losses (specific reserves) | 218 | ' | 327 |
Average investment during the period | 984 | ' | 1,138 |
Financing Receivables and Allowance for Losses | ' | ' | ' |
Total impaired loans | 859 | ' | 1,108 |
Allowance for losses (specific reserves) | 218 | ' | 327 |
Subsidiaries GECC [Member] | Commercial Portfolio Segment [Member] | CLL Financing Receivables [Member] | Modifications Classified As TDRs In Last Twelve Months [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment | 1,391 | 2,555 | ' |
Subsidiaries GECC [Member] | Commercial Real Estate Portfolio Segment [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Total impaired loans | 3,662 | ' | 3,860 |
Allowance for losses (specific reserves) | 53 | ' | 74 |
Average investment during the period | 3,761 | ' | 4,746 |
Interest income recognized | 19 | 57 | 187 |
Interest income recognized on a cash basis | 0 | 44 | 135 |
Changes In Loans Modified As Troubled Debt Restructurings | 369 | ' | ' |
Loans Modified As Troubled Debt Restructuring That Have Subsequently Experienced Payment Default | 20 | 174 | ' |
Financing Receivables and Allowance for Losses | ' | ' | ' |
Non-impaired financing receivables | 16,574 | ' | 16,039 |
General reserves | 122 | ' | 118 |
Total impaired loans | 3,662 | ' | 3,860 |
Allowance for losses (specific reserves) | 53 | ' | 74 |
Subsidiaries GECC [Member] | Commercial Real Estate Portfolio Segment [Member] | Troubled Debt Restructuring [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment | 3,470 | ' | 3,625 |
Subsidiaries GECC [Member] | Commercial Real Estate Portfolio Segment [Member] | No Related Allowance [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Total impaired loans | 2,925 | ' | 2,615 |
Unpaid principal balance | 3,448 | ' | 3,036 |
Average investment during the period | 2,770 | ' | 3,058 |
Financing Receivables and Allowance for Losses | ' | ' | ' |
Total impaired loans | 2,925 | ' | 2,615 |
Subsidiaries GECC [Member] | Commercial Real Estate Portfolio Segment [Member] | Related Allowance [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Total impaired loans | 737 | ' | 1,245 |
Unpaid principal balance | 871 | ' | 1,507 |
Allowance for losses (specific reserves) | 53 | ' | 74 |
Average investment during the period | 991 | ' | 1,688 |
Financing Receivables and Allowance for Losses | ' | ' | ' |
Total impaired loans | 737 | ' | 1,245 |
Allowance for losses (specific reserves) | 53 | ' | 74 |
Subsidiaries GECC [Member] | Commercial Real Estate Portfolio Segment [Member] | Modifications Classified As TDRs In Last Twelve Months [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment | 1,636 | 3,611 | ' |
Subsidiaries GECC [Member] | Consumer Portfolio Segment [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Total impaired loans | 2,968 | ' | 2,988 |
Allowance for losses (specific reserves) | 560 | ' | 567 |
Average investment during the period | 2,977 | ' | 3,156 |
Interest income recognized | 46 | 57 | 221 |
Interest income recognized on a cash basis | 0 | 1 | 3 |
Changes In Loans Modified As Troubled Debt Restructurings | 296 | ' | ' |
Loans Modified As Troubled Debt Restructuring That Have Subsequently Experienced Payment Default | 57 | 100 | ' |
Financing Receivables and Allowance for Losses | ' | ' | ' |
Non-impaired financing receivables | 102,864 | ' | 106,051 |
General reserves | 3,500 | ' | 3,414 |
Total impaired loans | 2,968 | ' | 2,988 |
Allowance for losses (specific reserves) | 560 | ' | 567 |
Subsidiaries GECC [Member] | Consumer Portfolio Segment [Member] | Troubled Debt Restructuring [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment | 2,839 | ' | 2,874 |
Subsidiaries GECC [Member] | Consumer Portfolio Segment [Member] | Impaired Loans [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Unpaid principal balance | 3,023 | ' | ' |
Subsidiaries GECC [Member] | Consumer Portfolio Segment [Member] | No Related Allowance [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Total impaired loans | 132 | ' | 109 |
Unpaid principal balance | 169 | ' | 153 |
Average investment during the period | 120 | ' | 98 |
Financing Receivable, Modifications, Recorded Investment | 132 | ' | ' |
Financing Receivables and Allowance for Losses | ' | ' | ' |
Total impaired loans | 132 | ' | 109 |
Subsidiaries GECC [Member] | Consumer Portfolio Segment [Member] | Related Allowance [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Total impaired loans | 2,836 | ' | 2,879 |
Unpaid principal balance | 2,854 | ' | 2,948 |
Allowance for losses (specific reserves) | 560 | ' | 567 |
Average investment during the period | 2,857 | ' | 3,058 |
Financing Receivable, Modifications, Recorded Investment | 2,836 | ' | ' |
Financing Receivables and Allowance for Losses | ' | ' | ' |
Total impaired loans | 2,836 | ' | 2,879 |
Allowance for losses (specific reserves) | 560 | ' | 567 |
Subsidiaries GECC [Member] | Consumer Portfolio Segment [Member] | Modifications Classified As TDRs In Last Twelve Months [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment | 1,339 | 1,647 | ' |
Subsidiaries GECC [Member] | Consumer Portfolio Segment [Member] | Consumer Other Portfolio [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Allowance for losses (specific reserves) | 33 | ' | ' |
Financing Receivables and Allowance for Losses | ' | ' | ' |
Allowance for losses (specific reserves) | 33 | ' | ' |
Subsidiaries GECC [Member] | Consumer Portfolio Segment [Member] | Consumer Other Portfolio [Member] | Related Allowance [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment | 239 | ' | ' |
Subsidiaries GECC [Member] | Consumer Portfolio Segment [Member] | Remaining Consumer Business [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Allowance for losses (specific reserves) | 527 | ' | ' |
Financing Receivables and Allowance for Losses | ' | ' | ' |
Allowance for losses (specific reserves) | 527 | ' | ' |
Subsidiaries GECC [Member] | Consumer Portfolio Segment [Member] | Remaining Consumer Business [Member] | Related Allowance [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment | 2,597 | ' | ' |
Subsidiaries GECC [Member] | Consumer Portfolio Segment [Member] | Non US Consumer [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Changes In Loans Modified As Troubled Debt Restructurings | 179 | ' | ' |
Subsidiaries GECC [Member] | Consumer Portfolio Segment [Member] | Credit Card Loans [Member] | ' | ' | ' |
Impaired Loans | ' | ' | ' |
Changes In Loans Modified As Troubled Debt Restructurings | $117 | ' | ' |
GECC_Financing_Receivables_All7
GECC Financing Receivables, Allowance For Losses On Financing Receivables and Supplemental Information On Credit Quality (Credit Quality) (Details) (Subsidiaries GECC [Member], USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | $252,386 | $258,207 |
Commercial Portfolio Segment [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 126,318 | 129,269 |
Commercial Portfolio Segment [Member] | Secured Financing Receivables Portfolio [Member] | Secured Credit Quality Indicator [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 125,265 | 128,145 |
Commercial Portfolio Segment [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, High [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 3,235 | 2,943 |
Commercial Portfolio Segment [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, Medium [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 2,030 | 2,265 |
Commercial Portfolio Segment [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, Low [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 120,000 | 122,937 |
Commercial Portfolio Segment [Member] | Unsecured Financing Receivables Portfolio [Member] | Risk Level, High [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 282 | 231 |
Commercial Portfolio Segment [Member] | Unsecured Financing Receivables Portfolio [Member] | Risk Level, Medium [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 400 | 580 |
Commercial Portfolio Segment [Member] | Unsecured Financing Receivables Portfolio [Member] | Risk Level, Low [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 371 | 313 |
Commercial Portfolio Segment [Member] | Energy Financial Services Financing Receivables [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 2,753 | 3,107 |
Commercial Portfolio Segment [Member] | Energy Financial Services Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | Secured Credit Quality Indicator [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 2,722 | 2,978 |
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 | 44 | 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 | 62 | 9 |
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 | 2,616 | 2,969 |
Commercial Portfolio Segment [Member] | GECAS Financing Receivables [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 8,851 | 9,377 |
Commercial Portfolio Segment [Member] | GECAS Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | Secured Credit Quality Indicator [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 8,851 | 9,377 |
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 | 214 | 152 |
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 | 55 | 50 |
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 | 8,582 | 9,175 |
Commercial Portfolio Segment [Member] | Other Financing Receivables [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 139 | 318 |
Commercial Portfolio Segment [Member] | Other Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | Secured Credit Quality Indicator [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 139 | 318 |
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 | 139 | 318 |
Commercial Portfolio Segment [Member] | Americas CLL Financing Receivables [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 68,367 | 69,036 |
Commercial Portfolio Segment [Member] | Americas CLL Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | Secured Credit Quality Indicator [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 68,012 | 68,686 |
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 | 1,538 | 1,554 |
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 | 1,348 | 1,587 |
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 | 65,126 | 65,545 |
Commercial Portfolio Segment [Member] | GE International [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 46,208 | 47,431 |
Commercial Portfolio Segment [Member] | GE International [Member] | Secured Financing Receivables Portfolio [Member] | Secured Credit Quality Indicator [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 45,541 | 46,786 |
Commercial Portfolio Segment [Member] | GE International [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, High [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 1,439 | 1,237 |
Commercial Portfolio Segment [Member] | GE International [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, Medium [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 565 | 619 |
Commercial Portfolio Segment [Member] | GE International [Member] | Secured Financing Receivables Portfolio [Member] | Risk Level, Low [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 43,537 | 44,930 |
Commercial Portfolio Segment [Member] | CLL Financing Receivables [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 114,575 | 116,467 |
Commercial Portfolio Segment [Member] | CLL Financing Receivables [Member] | Secured Financing Receivables Portfolio [Member] | Secured Credit Quality Indicator [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 113,553 | 115,472 |
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 | 2,977 | 2,791 |
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 | 1,913 | 2,206 |
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 | 108,663 | 110,475 |
Commercial Real Estate Portfolio Segment [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 20,236 | 19,899 |
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] | Secured Financing Receivables Portfolio [Member] | Less than 80% | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 15,974 | 15,576 |
Commercial Real Estate Portfolio Segment [Member] | Debt Real Estate [Member] | Secured Financing Receivables Portfolio [Member] | 80% to 95% | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 1,512 | 1,300 |
Commercial Real Estate Portfolio Segment [Member] | Debt Real Estate [Member] | Secured Financing Receivables Portfolio [Member] | Greater than 95% | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 1,754 | 2,111 |
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 | 157 | 162 |
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 | 201 | 179 |
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 | 638 | 571 |
Consumer Portfolio Segment [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 105,832 | 109,039 |
Consumer Portfolio Segment [Member] | Non US residential mortgages [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 30,355 | 30,501 |
Percent Of Non US Mortgages With Loan To Value Ratios Greater Than 90 Percent Covered By Third Party Mortgage Insurance | 22.00% | ' |
Consumer Portfolio Segment [Member] | Non US residential mortgages [Member] | Secured Financing Receivables Portfolio [Member] | 80% or less | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 17,148 | 17,224 |
Consumer Portfolio Segment [Member] | Non US residential mortgages [Member] | Secured Financing Receivables Portfolio [Member] | Greater than 80% to 90% | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 5,098 | 5,130 |
Consumer Portfolio Segment [Member] | Non US residential mortgages [Member] | Secured Financing Receivables Portfolio [Member] | Greater than 90% | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 8,109 | 8,147 |
Consumer Portfolio Segment [Member] | Non US installment and revolving credit [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 13,715 | 13,677 |
Consumer Portfolio Segment [Member] | Non US installment and revolving credit [Member] | Score 671 or Higher [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 8,033 | 8,310 |
Consumer Portfolio Segment [Member] | Non US installment and revolving credit [Member] | Score 626 to 670 [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 3,117 | 2,855 |
Consumer Portfolio Segment [Member] | Non US installment and revolving credit [Member] | Score 625 or Less [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 2,565 | 2,512 |
Consumer Portfolio Segment [Member] | US installment and revolving credit [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 52,887 | 55,854 |
Number Of Consumer Financing Receivable Customers Across US Including Private Label Credit Card And Sales Financing | 57,000,000 | ' |
Percentage of customers with no metropolitan statistical area | 6.00% | ' |
Percentage Of US Consumer Financing Receivables Related To Credit Cards Loans | 66.00% | ' |
Percentage Of US Consumer Financing Receivables Related To Sales Finance Receivables | 34.00% | ' |
Consumer Portfolio Segment [Member] | US installment and revolving credit [Member] | Score 671 or Higher [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 34,388 | 36,723 |
Consumer Portfolio Segment [Member] | US installment and revolving credit [Member] | Score 626 to 670 [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 10,817 | 11,101 |
Consumer Portfolio Segment [Member] | US installment and revolving credit [Member] | Score 625 or Less [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 7,682 | 8,030 |
Consumer Portfolio Segment [Member] | Non US auto [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 1,957 | 2,054 |
Consumer Portfolio Segment [Member] | Non US auto [Member] | Score 671 or Higher [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 1,338 | 1,395 |
Consumer Portfolio Segment [Member] | Non US auto [Member] | Score 626 to 670 [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 344 | 373 |
Consumer Portfolio Segment [Member] | Non US auto [Member] | Score 625 or Less [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 275 | 286 |
Consumer Portfolio Segment [Member] | Credit Card Loans [Member] | Unsecured Financing Receivables Portfolio [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Percentage Of Balance Of Consumer Non US Residential Mortgage Loans Covered By Mortgage Insurance | 5.00% | ' |
Consumer Portfolio Segment [Member] | Consumer Other Financing Receivable [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans and leases receivable, Gross | 6,918 | 6,953 |
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 | 504 | 501 |
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 | 401 | 315 |
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 | $6,013 | $6,137 |
Consumer Portfolio Segment [Member] | UNITED KINGDOM | Non US residential mortgages [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Reindexed Loan To Value Ratios Of Non US Mortgages | 74.00% | ' |
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 $) | 3 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Property, Plant and Equipment [Abstract] | ' | ' | ' |
Original cost | $115,869 | ' | $116,469 |
Less accumulated depreciation and amortization | -48,126 | ' | -47,642 |
Property, plant and equipment - net | 67,743 | ' | 68,827 |
Depreciation and amortization | $2,275 | $2,309 | ' |
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Goodwill) (Details) (USD $) | 3 Months Ended | 0 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | 3 Months Ended | 3 Months Ended | 3 Months Ended | 3 Months Ended | 3 Months Ended | 3 Months Ended | 3 Months Ended | 3 Months Ended | ||||||||||||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Feb. 12, 2014 | Mar. 31, 2014 | Mar. 21, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 |
Acquisition API Healthcare [Member] | Acquisition API Healthcare [Member] | Acquisition ThermoFisher Scientific Inc [Member] | Acquisition ThermoFisher Scientific Inc [Member] | Power And Water [Member] | Power And Water [Member] | Oil And Gas [Member] | Oil And Gas [Member] | Energy Management [Member] | Energy Management [Member] | Aviation [Member] | Aviation [Member] | Healthcare [Member] | Healthcare [Member] | Transportation [Member] | Transportation [Member] | Appliances And Lighting [Member] | Appliances And Lighting [Member] | GE Capital [Member] | GE Capital [Member] | Corporate Items And Eliminations [Member] | Corporate Items And Eliminations [Member] | ||||
Goodwill [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill | $79,129 | ' | $77,648 | ' | ' | ' | ' | $8,856 | $8,822 | $10,567 | $10,516 | $4,823 | $4,748 | $9,271 | $9,103 | $17,686 | $16,643 | $981 | $1,012 | $606 | $606 | $26,336 | $26,195 | $3 | $3 |
Payments to Acquire Businesses, Net of Cash Acquired | 1,454 | -6,383 | ' | 340 | ' | 1,065 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Intangible Assets, Current | 859 | ' | ' | ' | 125 | ' | 300 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible assets subject to amortization | 14,645 | ' | 14,150 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Indefinite-lived intangible assets | 143 | ' | 160 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total | 14,788 | ' | 14,310 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions | 1,046 | ' | ' | ' | 275 | ' | ' | 0 | ' | 21 | ' | 0 | ' | 0 | ' | 1,024 | ' | 1 | ' | 0 | ' | 0 | ' | 0 | ' |
Dispositions, currency exchange and other | 435 | ' | ' | ' | ' | ' | ' | 34 | ' | 30 | ' | 75 | ' | 168 | ' | 19 | ' | -32 | ' | 0 | ' | 141 | ' | 0 | ' |
Goodwill, period increase (decrease) | $1,481 | ' | ' | ' | ' | ' | $725 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets (Intangible Assets Subject to Amortization) (Details) (USD $) | 3 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | $26,920 | ' | $26,061 |
Accumulated amortization | -12,275 | ' | -11,911 |
Net | 14,645 | ' | 14,150 |
Intangible Assets, Net (Excluding Goodwill) | 14,788 | ' | 14,310 |
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 | 316 | ' | 322 |
Increase (Decrease) in Intangible Assets, Current | 859 | ' | ' |
Amortization expense | 420 | 399 | ' |
Customer Relationships [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | 8,426 | ' | 7,938 |
Accumulated amortization | -2,402 | ' | -2,312 |
Net | 6,024 | ' | 5,626 |
Patents And Technology [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | 6,785 | ' | 6,602 |
Accumulated amortization | -2,718 | ' | -2,621 |
Net | 4,067 | ' | 3,981 |
Trademarks [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | 1,370 | ' | 1,356 |
Accumulated amortization | -312 | ' | -295 |
Net | 1,058 | ' | 1,061 |
Computer Software, Intangible Asset [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | 8,478 | ' | 8,256 |
Accumulated amortization | -5,420 | ' | -5,252 |
Net | 3,058 | ' | 3,004 |
Leases, Acquired-in-Place [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | 679 | ' | 703 |
Accumulated amortization | -480 | ' | -498 |
Net | 199 | ' | 205 |
Present Value Of Future Profits [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | 583 | ' | 574 |
Accumulated amortization | -583 | ' | -574 |
Net | 0 | ' | 0 |
All Other [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | 599 | ' | 632 |
Accumulated amortization | -360 | ' | -359 |
Net | $239 | ' | $273 |
GECC_Borrowings_and_Bank_Depos2
GECC Borrowings and Bank Deposits (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | ||
In Millions, unless otherwise specified | ||||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Short-term borrowings | $76,121 | $77,890 | ||
Long-term borrowings | 220,992 | 221,665 | ||
Non Recourse Borrowings Of Consolidated Securitization Entities | 28,724 | 30,124 | ||
Bank deposits | 54,743 | 53,361 | ||
Total borrowings and bank deposits | 380,580 | 383,040 | ||
Scenario, Adjustment [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Short-term borrowings | -528 | -1,249 | ||
Long-term borrowings | -131 | -129 | ||
Commercial Paper [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Short-term borrowings | 350 | 0 | ||
Notes Payable to Banks [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Short-term borrowings | 520 | 346 | ||
Long-term borrowings | 9 | 10 | ||
Current Portion Of Long Term Borrowings [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Short-term borrowings | 70 | 70 | ||
Non Recourse Borrowings Of Consolidated Securitization Entities | 9,878 | 9,047 | ||
Other Short Term Borrowing [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Short-term borrowings | 607 | 1,425 | ||
Senior unsecured notes [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Long-term borrowings | 13,941 | 10,968 | ||
Other Long Term Borrowing [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Long-term borrowings | 519 | 537 | ||
Subsidiaries [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Short-term borrowings | 1,547 | [1] | 1,841 | [1] |
Long-term borrowings | 14,469 | [1] | 11,515 | [1] |
Non Recourse Borrowings Of Consolidated Securitization Entities | 0 | [1] | 0 | [1] |
Bank deposits | 0 | [1] | 0 | [1] |
Subsidiaries GECC [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Short-term borrowings | 75,102 | 77,298 | ||
Long-term borrowings | 206,654 | 210,279 | ||
Non Recourse Borrowings Of Consolidated Securitization Entities | 28,724 | 30,124 | ||
Bank deposits | 54,743 | 53,361 | ||
Subsidiaries GECC [Member] | US Commercial Paper [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Short-term borrowings | 21,229 | 24,877 | ||
Subsidiaries GECC [Member] | Non US Commercial Paper [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Short-term borrowings | 3,817 | 4,168 | ||
Subsidiaries GECC [Member] | Current Portion Of Long Term Borrowings [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Short-term borrowings | 40,720 | 39,215 | ||
Subsidiaries GECC [Member] | GE Interest Plus notes [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Short-term borrowings | 8,935 | 8,699 | ||
Subsidiaries GECC [Member] | Other Short Term Borrowing [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Short-term borrowings | 401 | 339 | ||
Subsidiaries GECC [Member] | Senior unsecured notes [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Long-term borrowings | 183,271 | 186,433 | ||
Subsidiaries GECC [Member] | Subordinated notes [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Long-term borrowings | 4,860 | 4,821 | ||
Subsidiaries GECC [Member] | Subordinated Debt [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Long-term borrowings | 7,530 | 7,462 | ||
Subsidiaries GECC [Member] | Other Long Term Borrowing [Member] | ' | ' | ||
Borrowings And Bank Deposits [Line Items] | ' | ' | ||
Long-term borrowings | $10,993 | $11,563 | ||
[1] | Represents the adding together of all affiliated companies except General Electric Capital Corporation (GECC or Financial Services), which is presented on a one-line basis. |
GECC_Borrowings_and_Bank_Depos3
GECC Borrowings and Bank Deposits (Parenthetical) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Borrowings And Bank Deposits [Line Items] | ' | ' |
Long-term borrowings | $220,992 | $221,665 |
Bank deposits | 54,743 | 53,361 |
Short-term borrowings | 76,121 | 77,890 |
Non Recourse Borrowings Of Consolidated Securitization Entities | 28,724 | 30,124 |
Unsecured Debt [Member] | ' | ' |
Borrowings And Bank Deposits [Line Items] | ' | ' |
Senior Notes | 3,000 | ' |
Notes Due In 2024 [Member] | Unsecured Debt [Member] | ' | ' |
Borrowings And Bank Deposits [Line Items] | ' | ' |
Senior Notes | 750 | ' |
Senior Unsecured Note Interest Rate | 3.38% | ' |
Notes Due In 2044 [Member] | Unsecured Debt [Member] | ' | ' |
Borrowings And Bank Deposits [Line Items] | ' | ' |
Senior Notes | 2,250 | ' |
Senior Unsecured Note Interest Rate | 4.50% | ' |
Subsidiaries GECC [Member] | ' | ' |
Borrowings And Bank Deposits [Line Items] | ' | ' |
Long-term borrowings | 206,654 | 210,279 |
Secured Debt | 9,338 | 9,468 |
Bank deposits | 54,743 | 53,361 |
Short-term borrowings | 75,102 | 77,298 |
Non Recourse Borrowings Of Consolidated Securitization Entities | 28,724 | 30,124 |
Subsidiaries GECC [Member] | Guaranteed investment contracts [Member] | ' | ' |
Borrowings And Bank Deposits [Line Items] | ' | ' |
Long-term borrowings | 481 | 481 |
Subsidiaries GECC [Member] | Subordinated Notes Guaranteed By GE [Member] | ' | ' |
Borrowings And Bank Deposits [Line Items] | ' | ' |
Long-term borrowings | 300 | 300 |
Subsidiaries GECC [Member] | Non US Banks [Member] | ' | ' |
Borrowings And Bank Deposits [Line Items] | ' | ' |
Bank deposits | 13,458 | 13,614 |
Subsidiaries GECC [Member] | Certificates of Deposit [Member] | ' | ' |
Borrowings And Bank Deposits [Line Items] | ' | ' |
Secured Long-term Debt, Noncurrent | 19,305 | 18,275 |
Subsidiaries GECC [Member] | Non Recourse [Member] | ' | ' |
Borrowings And Bank Deposits [Line Items] | ' | ' |
Secured Debt | $2,733 | $2,868 |
Postretirement_Benefit_Plans_D
Postretirement Benefit Plans (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Disclosure of other pension plans includes pension plans with pension assets or obligations in excess of threshold amount | $50 | ' |
Pension Plan, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Expected return on plan assets | -801 | -875 |
Service cost for benefits earned | 318 | 401 |
Interest cost on benefit obligation | 686 | 614 |
Prior service cost amortization | 54 | 61 |
Net actuarial (gain) loss amortization | 641 | 912 |
Pension plans cost | 898 | 1,113 |
Other Pension Plan, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Expected return on plan assets | -197 | -165 |
Service cost for benefits earned | 114 | 102 |
Interest cost on benefit obligation | 146 | 130 |
Prior service cost amortization | 1 | 2 |
Net actuarial (gain) loss amortization | 49 | 86 |
Pension plans cost | 113 | 155 |
Principal Retiree Health and Life Insurance Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Expected return on plan assets | -12 | -15 |
Service cost for benefits earned | 44 | 73 |
Interest cost on benefit obligation | 110 | 107 |
Prior service cost amortization | 98 | 98 |
Net actuarial (gain) loss amortization | -43 | 4 |
Pension plans cost | $197 | $267 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Income Tax Disclosure [Line Items] | ' | ' |
Unrecognized tax benefits | $5,911 | $5,816 |
Portion that, if recognized, would reduce tax expense and effective tax rate | 4,223 | 4,307 |
Accrued interest on unrecognized tax benefits | 970 | 975 |
Accrued penalties on unrecognized tax benefits | 169 | 164 |
Lower Limit [Member] | ' | ' |
Income Tax Disclosure [Line Items] | ' | ' |
Reasonably possible reduction to the balance of unrecognized tax benefits in succeeding 12 months lower limit | 0 | 0 |
Portion that, if recognized, would reduce tax expense and effective tax rate | 0 | 0 |
Upper Limit [Member] | ' | ' |
Income Tax Disclosure [Line Items] | ' | ' |
Reasonably possible reduction to the balance of unrecognized tax benefits in succeeding 12 months upper limit | 1,150 | 900 |
Portion that, if recognized, would reduce tax expense and effective tax rate | $400 | $350 |
Shareowners_Equity_Changes_In_
Shareowners' Equity (Changes In Accumulated Other Comprehensive Income) (Details) (USD $) | 3 Months Ended | |||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
Stockholders Equity Note [Line Items] | ' | ' | ' | |
Investment Securities Beginning Balance | $307 | [1] | $677 | ' |
Investment Securities Balance at March 31 | 764 | [1] | 744 | ' |
Currency Translation Adjustment Beginning Balance | 126 | [1] | 412 | ' |
Currency Translation Adjustment Balance March 31 | 177 | [1] | -43 | ' |
Cash Flow Hedges Beginning Balance | -257 | [1] | -722 | ' |
Cash Flow Hedges Balance March 31 | -189 | [1] | -620 | ' |
Benefit Plans Beginning Balance | -9,296 | [1] | -20,597 | ' |
Benefit Plans Balance March 31 | -8,601 | [1] | -19,745 | ' |
Other comprehensive income, net of tax | 1,269 | 564 | ' | |
Less: Other comprehensive income (loss) attributable to noncontrolling interests | -2 | -2 | ' | |
Accumulated Other Comprehensive Income (Loss), Net of Tax | -7,849 | -19,664 | -9,120 | |
Securities Investment [Member] | ' | ' | ' | |
Stockholders Equity Note [Line Items] | ' | ' | ' | |
Other comprehensive income (OCI) before reclassifications - net of deferred taxes | 447 | -63 | ' | |
Reclassification from OCI net of deferred taxes | 10 | 131 | ' | |
Other comprehensive income, net of tax | 457 | 68 | ' | |
Less: Other comprehensive income (loss) attributable to noncontrolling interests | 0 | 1 | ' | |
Stockholders Equity Note Parenthetical | ' | ' | ' | |
OCI before reclassification tax | 246 | -38 | ' | |
Reclassification from OCI | 7 | 97 | ' | |
Currency Translation Adjustment [Member] | ' | ' | ' | |
Stockholders Equity Note [Line Items] | ' | ' | ' | |
Other comprehensive income (OCI) before reclassifications - net of deferred taxes | 47 | -471 | ' | |
Other comprehensive income, net of tax | 49 | -459 | ' | |
Less: Other comprehensive income (loss) attributable to noncontrolling interests | -2 | -4 | ' | |
Stockholders Equity Note Parenthetical | ' | ' | ' | |
OCI before reclassification tax | 71 | -204 | ' | |
Tax on Reclassification from OCI - Currency Translation Adjustment | 124 | -34 | ' | |
Reclassification from OCI net of deferred taxes - Currency Translation Adjustment | 2 | 12 | ' | |
Cash Flow Hedge [Member] | ' | ' | ' | |
Stockholders Equity Note [Line Items] | ' | ' | ' | |
Other comprehensive income (OCI) before reclassifications - net of deferred taxes | 99 | -76 | ' | |
Other comprehensive income, net of tax | 68 | 102 | ' | |
Less: Other comprehensive income (loss) attributable to noncontrolling interests | 0 | 0 | ' | |
Stockholders Equity Note Parenthetical | ' | ' | ' | |
OCI before reclassification tax | 71 | 72 | ' | |
Reclassification from OCI net of deferred taxes - Cash Flow Hedge | -31 | 178 | ' | |
Tax on Reclassification from OCI - Cash Flow Hedges | -6 | -47 | ' | |
Pension Plan, Defined Benefit [Member] | ' | ' | ' | |
Stockholders Equity Note [Line Items] | ' | ' | ' | |
Other comprehensive income, net of tax | 695 | 853 | ' | |
Less: Other comprehensive income (loss) attributable to noncontrolling interests | 0 | 1 | ' | |
Stockholders Equity Note Parenthetical | ' | ' | ' | |
Other Comprehensive Income (Loss), Amortization Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Prior Service (Cost) Credit, Net of Tax | -93 | -98 | ' | |
Other Comprehensive Income (Loss), Amortization Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Prior Service (Cost) Credit, Tax | 64 | 67 | ' | |
Other Comprehensive Income Net Amortization Of Net Actuarial Gain Loss | 430 | 672 | ' | |
Other Comprehensive Income Net Amortization Of Net Actuarial Gain Loss Tax | 213 | 339 | ' | |
Other Comprehensive Income Net Actuarial Gain Loss | 172 | 83 | ' | |
Other Comprehensive Income Net Actuarial Gain Loss Tax | $42 | $53 | ' | |
[1] | The sum of accumulated other comprehensive income (loss) (AOCI) attributable to the Company was $(7,849) million and $(9,120) million at March 31, 2014 and December 31, 2013, respectively. |
Shareowners_Equity_Reclass_Out
Shareowners' Equity (Reclass Out of Accumulated Other Comprehensive Income) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ' | ' |
Benefit (provision) for income taxes | ($516) | ($508) |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 2,952 | 3,511 |
Costs and Expenses | -30,722 | -30,804 |
Financial Services Revenue | 10,132 | 11,141 |
GE interest and other financial charges | -2,414 | -2,603 |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | 3,456 | 4,139 |
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 | -504 | -1,091 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Securities Investment [Member] | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ' | ' |
Other Income | -17 | -228 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | -10 | -131 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Currency Translation Adjustment [Member] | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ' | ' |
Benefit (provision) for income taxes | 124 | -34 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | -2 | -12 |
Costs and Expenses | -126 | 22 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Cash Flow Hedge [Member] | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ' | ' |
Benefit (provision) for income taxes | -6 | -47 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 31 | -178 |
GE interest and other financial charges | -69 | -102 |
Other Nonoperating Income (Expense) | -22 | 22 |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | 37 | -131 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Pension Plan, Defined Benefit [Member] | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ' | ' |
Benefit (provision) for income taxes | 277 | 406 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | -523 | -770 |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | -800 | -1,176 |
Prior service cost amortization | -157 | -165 |
Defined Benefit Plan, Amortization of Gains (Losses) | -643 | -1,011 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Available-for-sale Securities [Member] | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ' | ' |
Benefit (provision) for income taxes | 7 | 97 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Foreign Exchange Contract [Member] | Cash Flow Hedge [Member] | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ' | ' |
Financial Services Revenue | 128 | -51 |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ' | ' |
Financial Services Revenue | 134 | -33 |
GE interest and other financial charges | -6 | -18 |
Subsidiaries GECC [Member] | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ' | ' |
Benefit (provision) for income taxes | -198 | -84 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 1,956 | 1,829 |
Costs and Expenses | -8,373 | -9,435 |
Financial Services Revenue | 10,488 | 11,442 |
GE interest and other financial charges | -2,161 | -2,382 |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | $2,142 | $2,033 |
Shareowners_Equity_Details
Shareowners' Equity (Details) (USD $) | 3 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | |
Changes To Noncontrolling Interest | ' | ' | |
Beginning balance | $6,217 | [1] | $5,444 |
Net earnings | -33 | -16 | |
Dividends | -10 | -18 | |
Dispositions | 0 | -104 | |
AOCI and other | 9 | 30 | |
Ending balance | $6,183 | [1] | $5,336 |
[1] | Included AOCI attributable to noncontrolling interests of $(180) million at both March 31, 2014 and December 31, 2013. |
Shareowners_Equity_Parenthetic
Shareowners' Equity (Parenthetical) (Details) (USD $) | 3 Months Ended | |
In Millions, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Noncontrolling Interest [Line Items] | ' | ' |
Common Stock, Shares Authorized | 13,200,000,000 | ' |
Common stock, par value per share | $0.06 | ' |
Subsidiaries GECC [Member] | ' | ' |
Noncontrolling Interest [Line Items] | ' | ' |
Dividend Amount Paid By Finance Subsidiary To Parent | $500 | ' |
Special Dividend Paid By Finance Subsidiary To Parent | ' | $0 |
GECC_Revenues_from_Services_De
GECC Revenues from Services (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Subsidiary Revenue From Services [Line Items] | ' | ' |
Total | $10,132 | $11,141 |
Consolidation, Eliminations [Member] | ' | ' |
Subsidiary Revenue From Services [Line Items] | ' | ' |
Total | -356 | -301 |
Subsidiaries GECC [Member] | ' | ' |
Subsidiary Revenue From Services [Line Items] | ' | ' |
Interest On Loans | 4,256 | 4,490 |
Equipment leased to others | 2,661 | 2,529 |
Fees | 1,114 | 1,130 |
Investment Income | 556 | 414 |
Financing leases | 389 | 436 |
Premiums earned by insurance activities | 352 | 395 |
Real estate investments | 343 | 1,300 |
Associated companies | 373 | 173 |
Other items | 444 | 575 |
Total | 10,488 | 11,442 |
Net other-than-temporary impairments on investment securities | 34 | 278 |
Subsidiaries GECC [Member] | Sale Of Rockefeller Center [Member] | ' | ' |
Subsidiary Revenue From Services [Line Items] | ' | ' |
Gain on Sale of Investments | 902 | ' |
Gross Eliminations [Member] | ' | ' |
Subsidiary Revenue From Services [Line Items] | ' | ' |
Total | $10,488 | $11,442 |
Earnings_Per_Share_Information2
Earnings Per Share Information (Details) (USD $) | 3 Months Ended | |
In Millions, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Amount attributable to the Company: | ' | ' |
Earnings from continuing operations attributable to common shareowners for per-share calculation, Basic | $2,983 | $3,642 |
Earnings (loss) from discontinued operations for per-share calculation, Basic | 12 | -120 |
Net earnings attributable to GE common shareowners for per-share calculation, Basic | 2,995 | 3,522 |
Earnings from continuing operations attributable to common shareowners for per-share calculation, Diluted | 2,983 | 3,642 |
Earnings (loss) from discontinued operations for per-share calculation, Diluted | 12 | -120 |
Net earnings attributable to GE common shareowners for per-share calculation, Diluted | $2,995 | $3,522 |
Average equivalent shares | ' | ' |
Shares of GE common stock outstanding, Basic | 10,045 | 10,374 |
Employee compensation-related shares (including stock options) and warrants, Basic | 0 | 0 |
Total average equivalent shares, Basic | 10,045 | 10,374 |
Shares of GE common stock outstanding, Diluted | 10,045 | 10,374 |
Employee compensation-related shares (including stock options) and warrants, Diluted | 78 | 59 |
Total average equivalent shares, Diluted | 10,123 | 10,433 |
Per-share amounts | ' | ' |
Earnings (loss) from continuing operations-Basic | $0.30 | $0.35 |
Earnings (loss) from discontinued operations-Basic | $0 | ($0.01) |
Net earnings-Basic | $0.30 | $0.34 |
Earnings (loss) from continuing operations-Diluted | $0.29 | $0.35 |
Earnings (loss) from discontinued operations-Diluted | $0 | ($0.01) |
Net earnings-Diluted | $0.30 | $0.34 |
Outstanding anti-dilutive stock awards not included in computation of diluted earnings per share | 72 | 190 |
Dividend Equivalents Included In Earnings For EPS Calculation, Diluted | 'insignificant amount | 'insignificant amount |
Dividend Equivalents Included In Earnings For EPS Calculation, Basic | 'insignificant amount | 'insignificant amount |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investment securities | $45,733 | $43,981 |
Fair Value Of Securities Transferred Between Level One And Level Two | 0 | ' |
Cumulative Gain (Loss) Adjustment For Non Performance Risk | 30 | -7 |
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 | 19,590 | 18,788 |
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 | 3,104 | 2,953 |
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 | 22,694 | 21,741 |
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 | 3,112 | 3,025 |
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 | 11 | 10 |
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 | 3,123 | 3,035 |
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 | 4,834 | 4,193 |
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 | 560 | 96 |
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 | 5,394 | 4,289 |
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 | 52 | 61 |
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 | 678 | 645 |
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 | 1,072 | 1,064 |
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 | 1,802 | 1,770 |
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 | 430 | 489 |
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 | 6,908 | 6,898 |
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 | 7,338 | 7,387 |
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 | 1,334 | 1,590 |
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 | 823 | 789 |
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 | 1 | 31 |
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 | 2,158 | 2,410 |
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 | 505 | 545 |
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 | 232 | 225 |
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 | 737 | 770 |
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 | 75 | 72 |
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 | 75 | 72 |
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 | 434 | 475 |
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 | 25 | 31 |
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 | 11 |
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 | 470 | 517 |
Trading [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 66 | 78 |
Trading [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 2 | 2 |
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 | 68 | 80 |
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 | 7,683 | 8,304 |
Derivative liabilities | 4,692 | 5,409 |
Derivatives [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Derivative assets | 163 | 175 |
Derivative liabilities | 15 | 20 |
Derivatives [Member] | Netting Adjustment Including Collateral [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Derivative assets | -6,300 | -6,739 |
Derivative liabilities | -3,895 | -4,355 |
Derivatives [Member] | Net Balance [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Derivative assets | 1,546 | 1,740 |
Derivative liabilities | 812 | 1,074 |
Other 1 [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Other Assets | 0 | 0 |
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 | 1,183 | 1,170 |
Other 1 [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Other Assets | 288 | 494 |
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 | 288 | 494 |
Other Liabilities | 1,183 | 1,170 |
Total [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Total Assets | 1,886 | 2,204 |
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 | 39,475 | 38,635 |
Total Liabilities | 5,875 | 6,579 |
Total [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Total Assets | 12,506 | 12,115 |
Total Liabilities | 15 | 20 |
Total [Member] | Netting Adjustment Including Collateral [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Total Assets | -6,300 | -6,739 |
Total Liabilities | -3,895 | -4,355 |
Total [Member] | Net Balance [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Total Assets | 47,567 | 46,215 |
Total Liabilities | 1,995 | 2,244 |
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 | 1,793 | 1,824 |
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 | 81 | 86 |
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 | $1,874 | $1,910 |
Fair_Value_Measurements_Change
Fair Value Measurements (Changes in Level 3 Instruments) (Details) (USD $) | 3 Months Ended | |||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ' |
Changes in Level 3 | $2,968 | ' | $2,816 | ' |
Cash Accruals Not Included In Schedule Assets Measured For Fair Value On Recurring Basis | 10 | 4 | ' | ' |
Domestic Corporate Debt Securities [Member] | ' | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ' |
Changes in Level 3 | 3,104 | 3,571 | 2,953 | 3,591 |
Net realized/unrealized gains (losses) included in earnings | 8 | -271 | ' | ' |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | 60 | 219 | ' | ' |
Purchases | 153 | 63 | ' | ' |
Sales | -2 | -6 | ' | ' |
Settlements | -112 | -45 | ' | ' |
Transfers into Level 3 | 97 | 93 | ' | ' |
Transfers out of Level 3 | -53 | -73 | ' | ' |
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 | 560 | 90 | 96 | 77 |
Net realized/unrealized gains (losses) included in earnings | 0 | 0 | ' | ' |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | 27 | 0 | ' | ' |
Purchases | 9 | 4 | ' | ' |
Sales | 0 | 0 | ' | ' |
Settlements | -7 | -1 | ' | ' |
Transfers into Level 3 | 435 | 10 | ' | ' |
Transfers out of Level 3 | 0 | 0 | ' | ' |
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 | 81 | 96 | 86 | 100 |
Net realized/unrealized gains (losses) included in earnings | 0 | 0 | ' | ' |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | -1 | -3 | ' | ' |
Purchases | 0 | 0 | ' | ' |
Sales | 0 | 0 | ' | ' |
Settlements | -4 | -1 | ' | ' |
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 | ' | ' |
Commercial Mortgage Backed Securities [Member] | ' | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ' |
Changes in Level 3 | 11 | 6 | 10 | 6 |
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 | -1 | 0 | ' | ' |
Transfers into Level 3 | 2 | 0 | ' | ' |
Transfers out of Level 3 | 0 | 0 | ' | ' |
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 | 6,908 | 4,916 | 6,898 | 5,023 |
Net realized/unrealized gains (losses) included in earnings | 1 | 1 | ' | ' |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | -27 | -2 | ' | ' |
Purchases | 405 | 144 | ' | ' |
Sales | 0 | 0 | ' | ' |
Settlements | -369 | -262 | ' | ' |
Transfers into Level 3 | 0 | 12 | ' | ' |
Transfers out of Level 3 | 0 | 0 | ' | ' |
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 | 1,072 | 1,349 | 1,064 | 1,218 |
Net realized/unrealized gains (losses) included in earnings | -21 | 8 | ' | ' |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | 47 | 19 | ' | ' |
Purchases | 219 | 825 | ' | ' |
Sales | -2 | -3 | ' | ' |
Settlements | -235 | -733 | ' | ' |
Transfers into Level 3 | 0 | 15 | ' | ' |
Transfers out of Level 3 | 0 | 0 | ' | ' |
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 | 1 | 41 | 31 | 42 |
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 | 0 | 0 | ' | ' |
Transfers into Level 3 | 0 | 0 | ' | ' |
Transfers out of Level 3 | -30 | 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 | 232 | 264 | 225 | 277 |
Net realized/unrealized gains (losses) included in earnings | 0 | 0 | ' | ' |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | 9 | -13 | ' | ' |
Purchases | 0 | 0 | ' | ' |
Sales | 0 | 0 | ' | ' |
Settlements | 0 | 0 | ' | ' |
Transfers into Level 3 | 0 | 0 | ' | ' |
Transfers out of Level 3 | -2 | 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 | 75 | 91 | 72 | 83 |
Net realized/unrealized gains (losses) included in earnings | 2 | 3 | ' | ' |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | 3 | 10 | ' | ' |
Purchases | 1 | 0 | ' | ' |
Sales | 0 | 0 | ' | ' |
Settlements | -3 | -5 | ' | ' |
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 | ' | ' |
Available-for-sale Securities [Member] | ' | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ' |
Changes in Level 3 | 11 | 11 | 11 | 13 |
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 | -2 | ' | ' |
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 | 158 | 343 | 164 | 416 |
Net realized/unrealized gains (losses) included in earnings | -7 | -19 | ' | ' |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | 0 | 0 | ' | ' |
Purchases | 0 | -1 | ' | ' |
Sales | 0 | 0 | ' | ' |
Settlements | 2 | -53 | ' | ' |
Transfers into Level 3 | -1 | 0 | ' | ' |
Transfers out of Level 3 | 0 | 0 | ' | ' |
Net change in unrealized gains (losses) relating to instruments still held | 0 | 12 | ' | ' |
Other 1 [Member] | ' | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ' |
Changes in Level 3 | 288 | 779 | 494 | 799 |
Net realized/unrealized gains (losses) included in earnings | 3 | -22 | ' | ' |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | 0 | 0 | ' | ' |
Purchases | 83 | 57 | ' | ' |
Sales | -13 | -55 | ' | ' |
Settlements | 0 | 0 | ' | ' |
Transfers into Level 3 | 0 | 0 | ' | ' |
Transfers out of Level 3 | -279 | 0 | ' | ' |
Net change in unrealized gains (losses) relating to instruments still held | -9 | -21 | ' | ' |
Total [Member] | ' | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ' |
Changes in Level 3 | 12,501 | 11,557 | 12,104 | 11,645 |
Net realized/unrealized gains (losses) included in earnings | -14 | -300 | ' | ' |
Net realized/unrealized gains (losses) included in accumulated other comprehensive income | 118 | 229 | ' | ' |
Purchases | 870 | 1,092 | ' | ' |
Sales | -17 | -64 | ' | ' |
Settlements | -729 | -1,100 | ' | ' |
Transfers into Level 3 | 533 | 130 | ' | ' |
Transfers out of Level 3 | -364 | -75 | ' | ' |
Net change in unrealized gains (losses) relating to instruments still held | ($9) | ($9) | ' | ' |
Fair_Value_Measurements_NonRec
Fair Value Measurements (Non-Recurring Fair Value Measurements) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | Financing receivables and loans held for sale [Member] | Financing receivables and loans held for sale [Member] | Cost and equity method investments [Member] | Cost and equity method investments [Member] | Long Lived Assets, Including Real Estate [Member] | Long Lived Assets, Including Real Estate [Member] | Total [Member] | Total [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financing receivables and loans held for sale [Member] | Financing receivables and loans held for sale [Member] | Cost and equity method investments [Member] | Cost and equity method investments [Member] | Long Lived Assets, Including Real Estate [Member] | Long Lived Assets, Including Real Estate [Member] | Total [Member] | Total [Member] | Financing receivables and loans held for sale [Member] | Financing receivables and loans held for sale [Member] | Cost and equity method investments [Member] | Cost and equity method investments [Member] | Long Lived Assets, Including Real Estate [Member] | Long Lived Assets, Including Real Estate [Member] | Total [Member] | Total [Member] | |||||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value assets measured on non recurring basis | $730 | $1,460 | ' | ' | ' | ' | ' | ' | ' | ' | $87 | $210 | $0 | $0 | $326 | $2,050 | $413 | $2,260 | $1,596 | $2,986 | $354 | $690 | $192 | $1,088 | $2,142 | $4,764 |
Adjustments To Assets Measured At Fair Value On Non Recurring Basis | ' | ' | ($113) | ($128) | ($208) | ($81) | ($75) | ($390) | ($396) | ($599) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair_Value_Measurements_Level_
Fair Value Measurements (Level 3 Measurements) (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Fair Value Assets Measured On Non Recurring Basis | 730 | 1,460 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 2,968 | 2,816 |
Individually Insignificant Recurring Fair Value Measurements | 185 | 327 |
Individually Insignificant NonRecurring Fair Value Measurements | 275 | 571 |
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 | 1,596 | 2,986 |
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 | 354 | 690 |
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 | 192 | 1,088 |
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 | 947 | 898 |
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% | 1.50% |
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 | 8.90% | 13.30% |
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% |
Weighted Average Discount Rate Used For Level Three Valuation | 5.00% | ' |
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 | 6,868 | 6,854 |
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 | 1.30% | 1.20% |
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 | 9.50% | 10.50% |
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% |
Weighted Average Discount Rate Used For Level Three Valuation | 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 | 776 | 819 |
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% | 1.40% |
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% | 46.00% |
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% |
Weighted Average Discount Rate Used For Level Three Valuation | 15.30% | ' |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Other 1 [Member] | Market Comparables Valuation Technique [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 | ' | 6.30% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Other 1 [Member] | Market Comparables Valuation Technique [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 | ' | 7.50% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Other 1 [Member] | Market Comparables Valuation Technique [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 | ' | 7.20% |
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 | 278 | 381 |
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 | 3.90% | 5.20% |
Fair Value Inputs, Revenue Multiple | 1.7 | ' |
Range Capitalization Rate Used For Level Three Valuation | 7.30% | ' |
Weighted Average Cost Of Capital Used For Level Three Valuation | ' | 9.30% |
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 | 5.60% | 8.80% |
Fair Value Inputs, Revenue Multiple | 1.7 | ' |
Range Capitalization Rate Used For Level Three Valuation | 8.80% | ' |
Weighted Average Cost Of Capital Used For Level Three Valuation | ' | 9.30% |
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% |
Fair Value Inputs, Revenue Multiple | 1.7 | ' |
Range Capitalization Rate Used For Level Three Valuation | 7.60% | ' |
Weighted Average Discount Rate Used For Level Three Valuation | 4.80% | ' |
Weighted Average Cost Of Capital Used For Level Three Valuation | ' | 9.30% |
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 | 5.4 |
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 | 8.9 | 12.5 |
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 | 6.9 | 9.5 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | State And Municipal Debt [Member] | Income Approach Valuation Techniques [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Investments, Fair Value Disclosure | 469 | ' |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | State And Municipal Debt [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 | 1.80% | ' |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | State And Municipal Debt [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 | 6.00% | ' |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | State And Municipal Debt [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 | 3.30% | ' |
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 | 995 | 1,937 |
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 | 2.70% | 5.50% |
Weighted Average Cost Of Capital Used For Level Three Valuation | 19.00% | ' |
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] | 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 | 11.30% | 16.70% |
Weighted Average Cost Of Capital Used For Level Three Valuation | 19.00% | ' |
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% |
Weighted Average Cost Of Capital Used For Level Three Valuation | 19.00% | ' |
Weighted Average Capitalization Rate Used For Level Three Valuation | 6.50% | 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 | 4.3 |
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 | 6.5 | 5.5 |
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 | 5.9 | 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 |
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% |
Fair Value Inputs, Revenue Multiple | ' | 2.2 |
Range Capitalization Rate Used For Level Three Valuation | ' | 8.50% |
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% |
Fair Value Inputs, Revenue Multiple | ' | 12.6 |
Range Capitalization Rate Used For Level Three Valuation | ' | 10.60% |
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% |
Fair Value Inputs, Revenue Multiple | ' | 9.4 |
Range Capitalization Rate Used For Level Three Valuation | ' | 10.00% |
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] | Cost and equity method investments [Member] | Income Approach And Market Comparable And Business Enterprise Valuation [Member] | ' | ' |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' |
Fair Value Assets Measured On Non Recurring Basis | 137 | ' |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Cost and equity method investments [Member] | Income Approach And Market Comparable And Business Enterprise Valuation [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 | 8.00% | ' |
Fair Value Inputs, Revenue Multiple | 2.9 | ' |
EBITDA Multiple Used For Level Three Valuation | 6 | ' |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Cost and equity method investments [Member] | Income Approach And Market Comparable And Business Enterprise Valuation [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 | 10.00% | ' |
Fair Value Inputs, Revenue Multiple | 2.9 | ' |
EBITDA Multiple Used For Level Three Valuation | 9 | ' |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Cost and equity method investments [Member] | Income Approach And Market Comparable And Business Enterprise Valuation [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 | 8.50% | ' |
Fair Value Inputs, Revenue Multiple | 2.9 | ' |
EBITDA Multiple Used For Level Three Valuation | 9 | ' |
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 | 5 | 694 |
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% | 4.00% |
Range Capitalization Rate Used For Level Three Valuation | 9.40% | 5.40% |
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 | 19.00% | 23.00% |
Range Capitalization Rate Used For Level Three Valuation | 15.30% | 14.50% |
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 | 8.30% | 9.00% |
Weighted Average Capitalization Rate Used For Level Three Valuation | 12.00% | 7.80% |
Fair_Value_Measurements_Parent
Fair Value Measurements (Parenthetical) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | Cost and equity method investments [Member] | Cost and equity method investments [Member] | Long Lived Assets, Including Real Estate [Member] | Long Lived Assets, Including Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cost and equity method investments [Member] | Cost and equity method investments [Member] | Long Lived Assets, Including Real Estate [Member] | Long Lived Assets, Including Real Estate [Member] | |||||||
Adjustments To Assets Measured At Fair Value On Non Recurring Basis | ' | ' | ($208) | ($81) | ($75) | ($390) | ' | ' | ' | ' |
Fair Value Assets Measured On Non Recurring Basis | $730 | $1,460 | ' | ' | ' | ' | $354 | $690 | $192 | $1,088 |
Financial_Instruments_Details
Financial Instruments (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Financial Instruments [Line Items] | ' | ' |
Effect of including interest rate and currency derivatives on borrowings and bank deposits | $3,506 | $2,284 |
Reinsurance Recoverables | 1,250 | 1,250 |
Loan Commitments By Notional Amount [Line Items] | ' | ' |
Ordinary course of business lending commitments | 5,102 | 4,756 |
Excluded investment commitments | 1,383 | 1,395 |
Inventory financing arrangements excluded | 12,650 | 13,502 |
Commercial [Member] | ' | ' |
Loan Commitments By Notional Amount [Line Items] | ' | ' |
Unused revolving credit lines | 15,497 | 16,570 |
Commitments Associated with Secured Financing Arrangements | 11,952 | 11,629 |
Maximum Commitments Associated with Secured Financing Arrangements | 15,472 | 14,590 |
Consumer Principally Credit Cards [Member] | ' | ' |
Loan Commitments By Notional Amount [Line Items] | ' | ' |
Unused revolving credit lines | 296,296 | 290,662 |
Subsidiaries [Member] | Carrying amount (net) [Member] | ' | ' |
Financial Instruments [Line Items] | ' | ' |
Investments and notes receivable | 486 | 488 |
Borrowings | -16,016 | -13,356 |
Subsidiaries [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Financial Instruments [Line Items] | ' | ' |
Investments and notes receivable | 533 | 512 |
Borrowings | -16,824 | -13,707 |
Subsidiaries GECC [Member] | Loan Commitments By Notional Amount [Member] | ' | ' |
Financial Instruments [Line Items] | ' | ' |
Insurance - credit life | 2,163 | 2,149 |
Subsidiaries GECC [Member] | Carrying amount (net) [Member] | ' | ' |
Financial Instruments [Line Items] | ' | ' |
Loans | 221,187 | 226,293 |
Other commercial mortgages | 2,261 | 2,270 |
Loans held for sale | 1,078 | 512 |
Other financial instruments | 1,541 | 1,622 |
Borrowings and bank deposits | -365,223 | -371,062 |
Investment contract benefits | -3,107 | -3,144 |
Guaranteed investment contracts | -1,441 | -1,471 |
Insurance - credit life | -110 | -108 |
Subsidiaries GECC [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Financial Instruments [Line Items] | ' | ' |
Loans | 225,454 | 230,792 |
Other commercial mortgages | 2,269 | 2,281 |
Loans held for sale | 1,078 | 512 |
Other financial instruments | 2,201 | 2,203 |
Borrowings and bank deposits | -381,050 | -386,823 |
Investment contract benefits | -3,666 | -3,644 |
Guaranteed investment contracts | -1,429 | -1,459 |
Insurance - credit life | ($96) | ($94) |
Financial_Instruments_Securiti
Financial Instruments (Securities Repurchase and Reverse Repurchase Arrangements) (Details) (USD $) | 3 Months Ended |
Mar. 31, 2014 | |
Financial Instruments [Line Items] | ' |
Securities For Repurchase Agreements | $134,000,000 |
Reverse Repurchase Agreements Maturities | 90 |
Securities for Reverse Repurchase Agreements | $19,900,000,000 |
Financial_Instruments_Derivati
Financial Instruments (Derivatives and hedging) (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative, Notional Amount | $336,000 | ' |
Derivative asset, fair value | 1,074 | 1,005 |
Derivative liability, fair value | 853 | 1,315 |
Cumulative gain (loss) adjustment for non performance risk | 30 | -7 |
Excess Collateralization | 177 | 160 |
Excess Collateral Posted | 56 | 37 |
Excess Securities Collateral Held | 75 | 363 |
Netting Adjustment Including Collateral [Member] | Derivatives [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | -6,300 | -6,739 |
Derivative liabilities | -3,895 | -4,355 |
Recognized In Statement Of Financial Position [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 9,029 | 9,706 |
Derivative liabilities | 4,748 | 5,670 |
Netting Adjustment [Member] | Amounts Offset In Statement Of Financial Position [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | -3,556 | -4,120 |
Derivative liabilities | -3,586 | -4,113 |
Cash Collateral [Member] | Amounts Offset In Statement Of Financial Position [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | -2,744 | -2,619 |
Derivative liabilities | -309 | -242 |
Securities Pledged as Collateral [Member] | Not Offset In Statement Of Financial Position [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | -1,655 | -1,962 |
Derivative liabilities | 0 | 0 |
Derivatives Accounted For As Hedges [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 5,518 | 5,668 |
Derivative liabilities | 2,535 | 2,973 |
Derivatives Not Accounted For As Hedges [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 2,328 | 2,811 |
Derivative liabilities | 2,172 | 2,456 |
Derivatives Associated With Interest Rate, Currency Or Market Risk Reduction Or Elimination [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative, Notional Amount | 293,000 | ' |
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 | 7,846 | 8,479 |
Derivative liabilities | 4,707 | 5,429 |
Gross Accrued Interest [Member] | Recognized In Statement Of Financial Position [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 1,183 | 1,227 |
Derivative liabilities | 41 | 241 |
Net Derivative [Member] | Recognized In Statement Of Financial Position [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 2,729 | 2,967 |
Derivative liabilities | 853 | 1,315 |
Interest Rate Contract [Member] | Derivatives Accounted For As Hedges [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 4,187 | 3,837 |
Derivative liabilities | 1,350 | 1,989 |
Interest Rate Contract [Member] | Derivatives Not Accounted For As Hedges [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 289 | 270 |
Derivative liabilities | 145 | 169 |
Foreign Exchange Contract [Member] | Derivatives Accounted For As Hedges [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 1,330 | 1,830 |
Derivative liabilities | 1,183 | 984 |
Foreign Exchange Contract [Member] | Derivatives Not Accounted For As Hedges [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 1,814 | 2,257 |
Derivative liabilities | 1,979 | 2,245 |
Other Contract [Member] | Derivatives Accounted For As Hedges [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 1 | 1 |
Derivative liabilities | 2 | 0 |
Other Contract [Member] | Derivatives Not Accounted For As Hedges [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 225 | 284 |
Derivative liabilities | $48 | $42 |
Financial_Instruments_Fair_val
Financial Instruments (Fair value hedges) (Details) (Fair Value Hedges [Member], USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 |
Interest Rate Contract [Member] | Interest Rate Contract [Member] | Foreign Exchange Contract [Member] | Foreign Exchange Contract [Member] | |||
Fair value hedges | ' | ' | ' | ' | ' | ' |
Gain (loss) on derivatives | ' | ' | $990 | ($914) | $2 | ($9) |
Hedge ineffectiveness gain (loss) | ($16) | ($34) | ($1,005) | $881 | ($3) | $8 |
Hedge Amounts Excluded From Assessment Of Effectiveness Insignificant Amounts | 'insignificant amounts | 'insignificant amounts | ' | ' | ' | ' |
Financial_Instruments_Cash_flo
Financial Instruments (Cash flow hedges) (Details) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||||||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 |
Cash Flow Hedge [Member] | Cash Flow Hedge [Member] | Cash Flow Hedge [Member] | Cash Flow Hedge [Member] | Cash Flow Hedge [Member] | Cash Flow Hedge [Member] | Cash Flow Hedge [Member] | Cash Flow Hedge [Member] | Net Investment Hedge [Member] | Net Investment Hedge [Member] | Net Investment Hedge [Member] | Net Investment Hedge [Member] | Fair Value Hedges [Member] | Fair Value Hedges [Member] | Fair Value Hedges [Member] | Fair Value Hedges [Member] | Fair Value Hedges [Member] | Fair Value Hedges [Member] | |
Interest Rate Contract [Member] | Interest Rate Contract [Member] | Foreign Exchange Contract [Member] | Foreign Exchange Contract [Member] | Commodity Contract [Member] | Commodity Contract [Member] | Foreign Exchange Contract [Member] | Foreign Exchange Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Foreign Exchange Contract [Member] | Foreign Exchange Contract [Member] | |||||||
Summary Of Cash Flow Hedge Activity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (loss) recognized in AOCI | $157 | ($8) | $3 | ($11) | $156 | $4 | ($2) | ($1) | ' | ' | ($1,033) | $2,105 | ' | ' | ' | ' | ' | ' |
Gain (loss) reclassified from AOCI into earnings | 37 | -131 | -69 | -102 | 108 | -28 | -2 | -1 | ' | ' | 10 | -124 | ' | ' | ' | ' | ' | ' |
Pre-tax gain (loss) included in AOCI related to cash flow hedges of forecasted transactions | -118 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | 160 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
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 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Hedge ineffectiveness gain (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ($142) | ($166) | ' | ' | ($16) | ($34) | ($1,005) | $881 | ($3) | $8 |
Financial_Instruments_Net_inve
Financial Instruments (Net investment hedges in foreign operations) (Details) (Net Investment Hedge [Member], USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Net investment hedges in foreign operation | ' | ' |
Hedge ineffectiveness gain (loss) | ($142) | ($166) |
Foreign Exchange Contract [Member] | ' | ' |
Net investment hedges in foreign operation | ' | ' |
Gain (loss) recognized in AOCI | -1,033 | 2,105 |
Gain (loss) reclassified from AOCI into earnings | $10 | ($124) |
Financial_Instruments_Freestan
Financial Instruments (Free-standing derivatives) (Details) (Free Standing Derivatives [Member], USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Free standing derivatives | ' | ' |
Gain (loss) on derivatives | $1,108 | ($686) |
Interest Rate Contract [Member] | ' | ' |
Free standing derivatives | ' | ' |
Gain (loss) on derivatives | 11 | -62 |
Foreign Exchange Contract [Member] | ' | ' |
Free standing derivatives | ' | ' |
Gain (loss) on derivatives | 1,126 | -720 |
Other Contract [Member] | ' | ' |
Free standing derivatives | ' | ' |
Gain (loss) on derivatives | ($29) | $96 |
Financial_Instruments_Counterp
Financial Instruments (Counterparty credit risk) (Details) (USD $) | Mar. 31, 2014 |
In Millions, unless otherwise specified | |
Counterparty credit risk | ' |
Total Collateral | $4,399 |
Fair value of collateral posted to counterparties for derivative obligations | 309 |
Exposure To Counterparties Including Interest Net Collateral Excluding Derivatives | 962 |
Derivative Liability After Collateral And Outstanding Interest Payments Excluding Embedded Derivatives | 783 |
Cash [Member] | ' |
Counterparty credit risk | ' |
Total Collateral | 2,744 |
Securities Held By Third Parties [Member] | ' |
Counterparty credit risk | ' |
Securities Held as Collateral, at Fair Value | $1,655 |
Variable_Interest_Entities_Det
Variable Interest Entities (Details) (USD $) | 3 Months Ended | ||||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Assets | $652,252 | [1] | ' | $656,285 | [1] |
Liabilities | 514,233 | [1] | ' | 519,502 | [1] |
Total revenues of consolidated VIEs | 34,178 | 34,943 | ' | ||
Provision for Loan and Lease Losses | 970 | 1,457 | ' | ||
Interest And Other Financial Charges | 2,414 | 2,603 | ' | ||
Loans and Finance Receivables [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Assets VIE | 41,612 | ' | 42,247 | ||
Investment Securities [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Assets VIE | 3,798 | ' | 3,830 | ||
Assets Other [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Assets VIE | 3,366 | ' | 3,220 | ||
Assets, Total [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Assets VIE | 48,776 | ' | 49,297 | ||
Borrowings [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Liabilities VIE | 583 | ' | 598 | ||
Nonrecourse Borrowings [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Liabilities VIE | 27,175 | ' | 28,574 | ||
Liabilities Other [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Liabilities VIE | 3,490 | ' | 3,334 | ||
Liabilities, Total [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Liabilities VIE | 31,248 | ' | 32,506 | ||
Consolidated Variable Interest Entities [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Total revenues of consolidated VIEs | 1,835 | 1,804 | ' | ||
Provision for Loan and Lease Losses | 301 | 414 | ' | ||
Interest And Other Financial Charges | 81 | 89 | ' | ||
Power Generating Activities Entity [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Assets VIE | 733 | ' | ' | ||
Liabilities VIE | 0 | ' | ' | ||
Industrial Equipment Joint Venture [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Assets VIE | 1,562 | ' | ' | ||
Liabilities VIE | 713 | ' | ' | ||
Insurance Entities [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Assets VIE | 1,195 | ' | ' | ||
Liabilities VIE | 525 | ' | ' | ||
Trinity [Member] | Loans and Finance Receivables [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Assets VIE | 0 | ' | 0 | ||
Trinity [Member] | Investment Securities [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Assets VIE | 2,764 | ' | 2,786 | ||
Trinity [Member] | Assets Other [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Assets VIE | 22 | ' | 213 | ||
Trinity [Member] | Assets, Total [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Assets VIE | 2,786 | ' | 2,999 | ||
Trinity [Member] | Borrowings [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Liabilities VIE | 0 | ' | 0 | ||
Trinity [Member] | Nonrecourse Borrowings [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Liabilities VIE | 0 | ' | 0 | ||
Trinity [Member] | Liabilities Other [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Liabilities VIE | 1,454 | ' | 1,482 | ||
Trinity [Member] | Liabilities, Total [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Liabilities VIE | 1,454 | ' | 1,482 | ||
Consolidated Securitization Entities [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Commingled cash amounts owed to CSEs | 3,106 | ' | 6,314 | ||
Commingled cash receivable from CSEs | 3,115 | ' | 5,540 | ||
Other 1 [Member] | Loans and Finance Receivables [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Assets VIE | 2,067 | ' | 2,044 | ||
Other 1 [Member] | Investment Securities [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Assets VIE | 1,034 | ' | 1,044 | ||
Other 1 [Member] | Assets Other [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Assets VIE | 2,706 | ' | 2,430 | ||
Other 1 [Member] | Assets, Total [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Assets VIE | 5,807 | ' | 5,518 | ||
Other 1 [Member] | Borrowings [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Liabilities VIE | 583 | ' | 598 | ||
Other 1 [Member] | Nonrecourse Borrowings [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Liabilities VIE | 49 | ' | 49 | ||
Other 1 [Member] | Liabilities Other [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Liabilities VIE | 1,458 | ' | 1,351 | ||
Other 1 [Member] | Liabilities, Total [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Liabilities VIE | 2,090 | ' | 1,998 | ||
Credit Card Receivable [Member] | Consolidated Securitization Entities [Member] | Loans and Finance Receivables [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Assets VIE | 23,888 | ' | 24,766 | ||
Credit Card Receivable [Member] | Consolidated Securitization Entities [Member] | Investment Securities [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Assets VIE | 0 | ' | 0 | ||
Credit Card Receivable [Member] | Consolidated Securitization Entities [Member] | Assets Other [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Assets VIE | 122 | ' | 20 | ||
Credit Card Receivable [Member] | Consolidated Securitization Entities [Member] | Assets, Total [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Assets VIE | 24,010 | ' | 24,786 | ||
Credit Card Receivable [Member] | Consolidated Securitization Entities [Member] | Borrowings [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Liabilities VIE | 0 | ' | 0 | ||
Credit Card Receivable [Member] | Consolidated Securitization Entities [Member] | Nonrecourse Borrowings [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Liabilities VIE | 14,642 | ' | 15,363 | ||
Credit Card Receivable [Member] | Consolidated Securitization Entities [Member] | Liabilities Other [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Liabilities VIE | 265 | ' | 228 | ||
Credit Card Receivable [Member] | Consolidated Securitization Entities [Member] | Liabilities, Total [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Liabilities VIE | 14,907 | ' | 15,591 | ||
Equipment [Member] | Consolidated Securitization Entities [Member] | Loans and Finance Receivables [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Assets VIE | 13,029 | ' | 12,928 | ||
Equipment [Member] | Consolidated Securitization Entities [Member] | Investment Securities [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Assets VIE | 0 | ' | 0 | ||
Equipment [Member] | Consolidated Securitization Entities [Member] | Assets Other [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Assets VIE | 515 | ' | 557 | ||
Equipment [Member] | Consolidated Securitization Entities [Member] | Assets, Total [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Assets VIE | 13,544 | ' | 13,485 | ||
Equipment [Member] | Consolidated Securitization Entities [Member] | Borrowings [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Liabilities VIE | 0 | ' | 0 | ||
Equipment [Member] | Consolidated Securitization Entities [Member] | Nonrecourse Borrowings [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Liabilities VIE | 10,316 | ' | 10,982 | ||
Equipment [Member] | Consolidated Securitization Entities [Member] | Liabilities Other [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Liabilities VIE | 285 | ' | 248 | ||
Equipment [Member] | Consolidated Securitization Entities [Member] | Liabilities, Total [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Liabilities VIE | 10,601 | ' | 11,230 | ||
Trade Accounts Receivable [Member] | Consolidated Securitization Entities [Member] | Loans and Finance Receivables [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Assets VIE | 2,628 | ' | 2,509 | ||
Trade Accounts Receivable [Member] | Consolidated Securitization Entities [Member] | Investment Securities [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Assets VIE | 0 | ' | 0 | ||
Trade Accounts Receivable [Member] | Consolidated Securitization Entities [Member] | Assets Other [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Assets VIE | 1 | ' | 0 | ||
Trade Accounts Receivable [Member] | Consolidated Securitization Entities [Member] | Assets, Total [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Assets VIE | 2,629 | ' | 2,509 | ||
Trade Accounts Receivable [Member] | Consolidated Securitization Entities [Member] | Borrowings [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Liabilities VIE | 0 | ' | 0 | ||
Trade Accounts Receivable [Member] | Consolidated Securitization Entities [Member] | Nonrecourse Borrowings [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Liabilities VIE | 2,168 | ' | 2,180 | ||
Trade Accounts Receivable [Member] | Consolidated Securitization Entities [Member] | Liabilities Other [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Liabilities VIE | 28 | ' | 25 | ||
Trade Accounts Receivable [Member] | Consolidated Securitization Entities [Member] | Liabilities, Total [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Liabilities VIE | 2,196 | ' | 2,205 | ||
Subsidiaries GECC [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Assets | 510,447 | [1] | ' | 516,829 | [1] |
Liabilities | 425,420 | [1] | ' | 433,703 | [1] |
Total revenues of consolidated VIEs | 10,515 | 11,468 | ' | ||
Provision for Loan and Lease Losses | 970 | 1,457 | ' | ||
Interest And Other Financial Charges | 2,161 | 2,382 | ' | ||
Subsidiaries GECC [Member] | Trinity [Member] | Consolidated Variable Interest Entities [Member] | ' | ' | ' | ||
Assets And Liabilities Of Consolidated VIEs [Line Items] | ' | ' | ' | ||
Intercompany Advances Eliminated In Consolidation | $1,611 | ' | $1,837 | ||
[1] | Our consolidated assets at March 31, 2014 include total assets of $46,492 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 $40,749 million and investment securities of $3,797 million. Our consolidated liabilities at March 31, 2014 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 $27,175 million. See Note 16. |
Variable_Interest_Entities_Unc
Variable Interest Entities (Unconsolidated Variable Interest Entities) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Variable Interest Entity [Line Items] | ' | ' |
Financing receivables | $237,005 | $241,940 |
Long-term Debt and Capital Lease Obligations | 220,992 | 221,665 |
Unconsolidated VIEs [Member] | ' | ' |
Variable Interest Entity [Line Items] | ' | ' |
Real Estate Investments, Net | 2,261 | ' |
Debt Investment Fund | 7,018 | ' |
Factored Receivables | 2,491 | ' |
PTL [Member] | Investment in Unconsolidated VIEs [Member] | ' | ' |
Variable Interest Entity [Line Items] | ' | ' |
Long-term Debt and Capital Lease Obligations | 700 | 700 |
Total [Member] | Investment in Unconsolidated VIEs [Member] | ' | ' |
Variable Interest Entity [Line Items] | ' | ' |
Other assets and investment securities | 9,161 | 9,129 |
Financing receivables | 3,084 | 3,346 |
Total investment | 12,245 | 12,475 |
Contractual obligations to fund new investments or guarantees | 2,541 | 2,741 |
Revolving lines of credit | 36 | 31 |
Total | $14,822 | $15,247 |
Intercompany_Transactions_Deta
Intercompany Transactions (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Intercompany Transactions [Line Items] | ' | ' |
Net Cash Provided by (Used in) Operating Activities, Continuing Operations | $4,964 | $4,711 |
Net Cash Provided by (Used in) Investing Activities, Continuing Operations | 1,882 | 31,402 |
Net Cash Provided by (Used in) Financing Activities, Continuing Operations | -8,495 | -22,941 |
Intercompany Table | ' | ' |
Cash Provided by (Used in) Operating Activities Prior to Elimination of Intercompany Transactions | 4,908 | 3,354 |
Net Increase Decrease In Parent Customer Receivables Sold To Finance Subsidiary That Have Been Eliminated From Consolidated Cash From Investing Activities | -1,185 | -966 |
Elimination of Dividends from GECC to GE from consolidated cash from operating activities | -500 | 0 |
Eliminations of other reclassifications and eliminations from consolidated cash from operating activities | -175 | 381 |
Cash Provided by (Used in) Investing Activities Prior to Elimination of Intercompany Transactions | 3,612 | 32,815 |
Net Increase Decrease In Parent Customer Receivables Sold To Finance Subsidiary That Have Been Eliminated From Consolidated Cash From Financing Activities | 454 | -10 |
Eliminations of other reclassifications and eliminations from consolidated cash from investing activities | -545 | -447 |
Cash Provided by (Used in) Financing Activities Prior to Elimination of Intercompany Transactions | -10,169 | -23,077 |
Net Increase Decrease In Parent Customer Receivables Sold To Finance Subsidiary That Have Been Eliminated From Consolidated Cash From Operating Activities | 731 | 976 |
Elimination of Dividends from GECC to GE from consolidated cash from financing activities | 500 | 0 |
Eliminations of other reclassifications and eliminations from consolidated cash from financing activities | 720 | 146 |
Consolidation, Eliminations [Member] | ' | ' |
Intercompany Transactions [Line Items] | ' | ' |
Net Cash Provided by (Used in) Operating Activities, Continuing Operations | 56 | 1,357 |
Net Cash Provided by (Used in) Investing Activities, Continuing Operations | -1,730 | -1,413 |
Net Cash Provided by (Used in) Financing Activities, Continuing Operations | $1,674 | $136 |