Attached files
| file | filename |
|---|---|
| 8-K - GECC FORM 8-K 04202012 - GENERAL ELECTRIC CAPITAL CORP | gecc8k04202012.htm |
Exhibit 99
General Electric Capital Corporation
Condensed Statement of Earnings
|
Three months ended March 31
|
|||||||||||||||||
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(In millions, Unaudited)
|
|
|
2012
|
2011
|
V
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%
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|||||||||||
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Revenues
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|||||||||||||||||
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Revenues from services
|
|
|
$
|
11,412
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$
|
12,994
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|||||||||||
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Sales of goods
|
|
|
30
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42
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|||||||||||||
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Total revenues
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11,442
|
13,036
|
(12)
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%
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|||||||||||||
|
Costs and expenses
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|||||||||||||||||
|
Costs of sales, operating and administrative expenses
|
4,621
|
5,293
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|||||||||||||||
|
Interest
|
3,196
|
3,584
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|||||||||||||||
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Investment contracts, insurance losses and insurance
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|||||||||||||||||
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annuity benefits
|
|
771
|
769
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||||||||||||||
|
Provision for losses on financing receivables
|
|
863
|
1,140
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||||||||||||||
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Total costs and expenses
|
9,451
|
10,786
|
(12)
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%
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|||||||||||||
|
Earnings from continuing operations before
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|||||||||||||||||
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income taxes
|
1,991
|
2,250
|
(12)
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%
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|||||||||||||
|
Benefit (provision) for income taxes
|
(187)
|
(429)
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|||||||||||||||
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Earnings from continuing operations
|
1,804
|
1,821
|
(1)
|
%
|
|||||||||||||
|
Earnings (loss) from discontinued operations,
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|||||||||||||||||
|
net of taxes
|
(217)
|
35
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|||||||||||||||
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Net earnings
|
1,587
|
1,856
|
(14)
|
%
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|||||||||||||
|
Less net earnings attributable to
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|||||||||||||||||
|
noncontrolling interests
|
|
12
|
31
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||||||||||||||
|
Net earnings attributable to GECC
|
|
|
$
|
1,575
|
$
|
1,825
|
(14)
|
%
|
|||||||||
|
Amounts attributable to GECC:
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|||||||||||||||||
|
Earnings from continuing operations
|
|
|
$
|
1,792
|
$
|
1,790
|
—
|
%
|
|||||||||
|
Earnings (loss) from discontinued operations, net of taxes
|
(217)
|
35
|
|||||||||||||||
|
Net earnings attributable to GECC
|
|
|
$
|
1,575
|
$
|
1,825
|
(14)
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%
|
|||||||||
(1)
General Electric Capital Corporation
Summary of Operating Segments
|
Three months ended March 31
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|||||||||||||||||
|
(In millions, Unaudited)
|
|
2012
|
2011
|
V
|
%
|
||||||||||||
|
Revenues
|
|||||||||||||||||
|
Commercial Lending and Leasing (CLL)
|
|
|
$
|
4,442
|
$
|
4,608
|
(4)
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%
|
|||||||||
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Consumer
|
3,877
|
4,823
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(20)
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%
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|||||||||||||
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Real Estate
|
836
|
907
|
(8)
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%
|
|||||||||||||
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Energy Financial Services
|
|
239
|
345
|
(31)
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%
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||||||||||||
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GE Capital Aviation Services (GECAS)
|
1,331
|
1,325
|
—
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%
|
|||||||||||||
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Total segment revenues
|
10,725
|
12,008
|
(11)
|
%
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|||||||||||||
|
GECC corporate items and eliminations
|
|
717
|
1,028
|
(30)
|
%
|
||||||||||||
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Total revenues
|
|
|
$
|
11,442
|
$
|
13,036
|
(12)
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%
|
|||||||||
|
Segment profit
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|||||||||||||||||
|
CLL
|
|
|
$
|
685
|
$
|
554
|
24
|
%
|
|||||||||
|
Consumer
|
829
|
1,241
|
(33)
|
%
|
|||||||||||||
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Real Estate
|
|
56
|
(358)
|
F
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|||||||||||||
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Energy Financial Services
|
|
71
|
112
|
(37)
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%
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||||||||||||
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GECAS
|
|
318
|
306
|
4
|
%
|
||||||||||||
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Total segment profit
|
1,959
|
1,855
|
6
|
%
|
|||||||||||||
|
GECC corporate items and eliminations
|
(167)
|
(65)
|
U
|
||||||||||||||
|
Earnings from continuing operations
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|||||||||||||||||
|
attributable to GECC
|
1,792
|
1,790
|
—
|
%
|
|||||||||||||
|
Earnings (loss) from discontinued operations,
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|||||||||||||||||
|
net of taxes, attributable to GECC
|
(217)
|
35
|
U
|
||||||||||||||
|
Net earnings attributable to GECC
|
|
|
$
|
1,575
|
$
|
1,825
|
(14)
|
%
|
|||||||||
(2)
General Electric Capital Corporation
Condensed Statement of Financial Position
|
March 31,
|
December 31,
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||||
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(In billions, Unaudited)
|
2012
|
2011
|
|||
|
Assets
|
|||||
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Cash & marketable securities
|
$
|
124.0
|
$
|
124.1
|
|
|
Inventories
|
–
|
0.1
|
|||
|
Financing receivables - net
|
281.4
|
288.8
|
|||
|
Property, plant & equipment - net
|
51.5
|
51.4
|
|||
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Goodwill & intangible assets
|
28.8
|
28.8
|
|||
|
Other assets
|
85.8
|
88.9
|
|||
|
Assets of businesses held for sale
|
0.6
|
0.7
|
|||
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Assets of discontinued operations
|
1.3
|
1.7
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|||
|
Total assets
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$
|
573.4
|
$
|
584.5
|
|
|
Liabilities and equity
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|||||
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Borrowings and bank deposits
|
$
|
431.9
|
$
|
443.1
|
|
|
Investment contracts, insurance liabilities and insurance annuity benefits
|
30.2
|
30.2
|
|||
|
Other liabilities
|
29.8
|
31.6
|
|||
|
Liabilities of businesses held for sale
|
0.3
|
0.3
|
|||
|
Liabilities of discontinued operations
|
1.2
|
1.5
|
|||
|
GECC shareowner's equity
|
79.2
|
77.1
|
|||
|
Noncontrolling interests
|
0.8
|
0.7
|
|||
|
Total liabilities and equity
|
$
|
573.4
|
$
|
584.5
|
|
(3)