Attached files
| file | filename |
|---|---|
| 8-K - GECC FORM 8K - GENERAL ELECTRIC CAPITAL CORP | geccform8k4192013.htm |
Exhibit 99
General Electric Capital Corporation
Condensed Statement of Earnings
|
Three months ended March 31,
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||||||||||||||||
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(Dollars in millions, Unaudited)
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2013
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2012
|
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
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$
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11,509
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$
|
11,310
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||||||||||||
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Sales of goods
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26
|
30
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||||||||||||||
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Total revenues
|
11,535
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11,340
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2
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%
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||||||||||||
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Costs and expenses
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||||||||||||||||
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Costs of sales, operating and administrative expenses
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4,938
|
4,522
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||||||||||||||
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Interest
|
2,400
|
3,185
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||||||||||||||
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Investment contracts, insurance losses and insurance
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||||||||||||||||
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annuity benefits
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689
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771
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||||||||||||||
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Provision for losses on financing receivables
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1,488
|
863
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||||||||||||||
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Total costs and expenses
|
9,515
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9,341
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2
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%
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||||||||||||
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Earnings from continuing operations before
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||||||||||||||||
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income taxes
|
2,020
|
1,999
|
1
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%
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||||||||||||
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Benefit (provision) for income taxes
|
(82)
|
(215)
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||||||||||||||
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Earnings from continuing operations
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1,938
|
1,784
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9
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%
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||||||||||||
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Earnings (loss) from discontinued operations,
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||||||||||||||||
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net of taxes
|
(109)
|
(197)
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||||||||||||||
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Net earnings
|
1,829
|
1,587
|
15
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%
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||||||||||||
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Less net earnings attributable to
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||||||||||||||||
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noncontrolling interests
|
11
|
12
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||||||||||||||
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Net earnings attributable to GECC
|
$
|
1,818
|
$
|
1,575
|
15
|
%
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||||||||||
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Amounts attributable to GECC
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||||||||||||||||
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Earnings from continuing operations
|
$
|
1,927
|
$
|
1,772
|
9
|
%
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||||||||||
|
Earnings (loss) from discontinued operations, net of taxes
|
(109)
|
(197)
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||||||||||||||
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Net earnings attributable to GECC
|
$
|
1,818
|
$
|
1,575
|
15
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%
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||||||||||
(1)
General Electric Capital Corporation
Summary of Operating Segments
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Three months ended March 31,
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|||||||||||||||||
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(Dollars in millions, Unaudited)
|
2013
|
2012
|
V
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%
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|||||||||||||
|
Revenues
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|||||||||||||||||
|
Commercial Lending and Leasing (CLL)
|
$
|
3,507
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$
|
4,340
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(19)%
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||||||||||||
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Consumer
|
3,891
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3,877
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–%
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||||||||||||||
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Real Estate
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1,657
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836
|
98%
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||||||||||||||
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Energy Financial Services
|
343
|
239
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44%
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||||||||||||||
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GE Capital Aviation Services (GECAS)
|
1,379
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1,331
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4%
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||||||||||||||
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Total segment revenues
|
10,777
|
10,623
|
1%
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||||||||||||||
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GECC corporate items and eliminations
|
758
|
717
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6%
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||||||||||||||
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Total revenues
|
$
|
11,535
|
$
|
11,340
|
2%
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||||||||||||
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Segment profit
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|||||||||||||||||
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CLL
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$
|
398
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$
|
664
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(40)%
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||||||||||||
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Consumer
|
523
|
829
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(37)%
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||||||||||||||
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Real Estate
|
690
|
56
|
F
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||||||||||||||
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Energy Financial Services
|
83
|
71
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17%
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||||||||||||||
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GECAS
|
348
|
318
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9%
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||||||||||||||
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Total segment profit
|
2,042
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1,938
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5%
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||||||||||||||
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GECC corporate items and eliminations
|
(115)
|
(166)
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31%
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||||||||||||||
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Earnings from continuing operations
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|||||||||||||||||
|
attributable to GECC
|
1,927
|
1,772
|
9%
|
||||||||||||||
|
Earnings (loss) from discontinued operations,
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|||||||||||||||||
|
net of taxes, attributable to GECC
|
(109)
|
(197)
|
45%
|
||||||||||||||
|
Net earnings attributable to GECC
|
$
|
1,818
|
$
|
1,575
|
15%
|
||||||||||||
(2)
General Electric Capital Corporation
Condensed Statement of Financial Position
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March 31,
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December 31,
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||||
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(In billions, Unaudited)
|
2013
|
2012
|
|||
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Assets
|
|||||
|
Cash & marketable securities
|
$
|
116.0
|
$
|
110.4
|
|
|
Inventories
|
0.1
|
0.1
|
|||
|
Financing receivables - net
|
258.3
|
269.0
|
|||
|
Property, plant & equipment - net
|
52.5
|
53.0
|
|||
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Goodwill & intangible assets
|
28.2
|
28.3
|
|||
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Other assets
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72.3
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76.0
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|||
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Assets of businesses held for sale
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0.2
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0.2
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|||
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Assets of discontinued operations
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1.9
|
2.3
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|||
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Total assets
|
$
|
529.5
|
$
|
539.3
|
|
|
Liabilities and equity
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|||||
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Borrowings and bank deposits
|
$
|
385.6
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$
|
397.3
|
|
|
Investment contracts, insurance liabilities and insurance annuity benefits
|
28.7
|
28.7
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|||
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Other liabilities
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28.4
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28.1
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|||
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Liabilities of businesses held for sale
|
—
|
0.2
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|||
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Liabilities of discontinued operations
|
2.3
|
2.4
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|||
|
GECC shareowners' equity
|
83.9
|
81.9
|
|||
|
Noncontrolling interests
|
0.6
|
0.7
|
|||
|
Total liabilities and equity
|
$
|
529.5
|
$
|
539.3
|
|
(3)