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Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2011
Financial Instruments [Abstract]  
Estimated fair value of assets and liabilities
 June 30, 2011 December 31, 2010
   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) $276 $276 $(a) $414 $414
Liabilities                 
   Borrowings (a)  (10,927)  (11,704)  (a)  (10,112)  (10,953)
GECS                 
Assets                 
   Loans (a)  260,015  257,272  (a)  268,239  264,550
   Other commercial mortgages (a)  1,137  1,192  (a)  1,041  1,103
   Loans held for sale (a)  985  986  (a)  287  287
   Other financial instruments(c) (a)  2,038  2,571  (a)  2,103  2,511
Liabilities                 
   Borrowings and bank                  
      deposits(b)(d) (a)  (463,228)  (473,901)  (a)  (470,520)  (482,724)
   Investment contract benefits (a)  (3,621)  (4,316)  (a)  (3,726)  (4,264)
   Guaranteed investment                 
      contracts (a)  (4,793)  (4,796)  (a)  (5,502)  (5,524)
   Insurance – credit life(e) 2,006  (106)  (90)  1,825  (103)  (69)
                  
                  

(a)       These financial instruments do not have notional amounts.

(b)       See Note 8.

(c)       Principally cost method investments.

(d)       Fair values exclude interest rate and currency derivatives designated as hedges of borrowings. Had they been included, the fair value of borrowings at June 30, 2011 and December 31, 2010 would have been reduced by $4,634 million and $4,298 million, respectively.

(e)       Net of reinsurance of $2,800 million at both June 30, 2011 and December 31, 2010.
Loan commitments
Loan Commitments     
 Notional amount
 June 30, December 31,
(In millions)2011 2010
     
Ordinary course of business lending commitments(a)$ 3,545 $ 3,584
Unused revolving credit lines(b)     
   Commercial(c)  18,417   21,338
   Consumer – principally credit cards  246,159   227,006
      
      

(a)       Excluded investment commitments of $1,494 million and $1,990 million as of June 30, 2011 and December 31, 2010, respectively.

(b)       Excluded inventory financing arrangements, which may be withdrawn at our option, of $12,400 million and $11,840 million as of June 30, 2011 and December 31, 2010, respectively.

(c)       Included commitments of $13,614 million and $16,243 million as of June 30, 2011 and December 31, 2010, respectively, associated with secured financing arrangements that could have increased to a maximum of $18,053 million and $20,268 million at June 30, 2011 and December 31, 2010, respectively, based on asset volume under the arrangement.
Fair value of derivatives by contract type
 At June 30, 2011 At December 31, 2010
 Fair value Fair value
(In millions) Assets  Liabilities  Assets  Liabilities
            
Derivatives accounted for as hedges           
   Interest rate contracts$5,213 $2,364 $5,959 $2,675
   Currency exchange contracts 3,036  2,452  2,965  2,533
   Other contracts 2  0  5  0
  8,251  4,816  8,929  5,208
            
Derivatives not accounted for as hedges           
   Interest rate contracts 195  289  294  552
   Currency exchange contracts 1,905  795  1,602  846
   Other contracts 439  39  531  50
  2,539  1,123  2,427  1,448
            
Netting adjustments(a) (3,583)  (3,573)  (3,867)  (3,857)
            
Total$7,207 $2,366 $7,489 $2,799
            
            

Derivatives are classified in the captions “All other assets” and “All other liabilities” in our financial statements.

(a)       The netting of derivative receivables and payables is permitted when a legally enforceable master netting agreement exists. Amounts included fair value adjustments related to our own and counterparty non-performance risk. At both June 30, 2011 and December 31, 2010, the cumulative adjustment for non-performance risk was a loss of $10 million.

 
Fair value hedges
 Three months ended
 June 30, 2011 June 30, 2010
(In millions)Gain (loss) Gain (loss) Gain (loss) Gain (loss)
 on hedging on hedged on hedging on hedged
 derivatives items derivatives items
            
Interest rate contracts $1,341 $(1,466) $2,551 $(2,721)
Currency exchange contracts  15  (20)  11  (15)
            
            

Fair value hedges resulted in $(130) million and $(174) million of ineffectiveness in the three months ended June 30, 2011 and 2010, respectively. In both the three months ended June 30, 2011 and 2010, there were insignificant amounts excluded from the assessment of effectiveness.

 

 Six months ended
 June 30, 2011 June 30, 2010
(In millions)Gain (loss) Gain (loss) Gain (loss) Gain (loss)
 on hedging on hedged on hedging on hedged
 derivatives items derivatives items
            
Interest rate contracts $(390) $195 $3,811 $(4,130)
Currency exchange contracts  39  (47)  (9)  1
            
            

Fair value hedges resulted in $(203) million and $(327) million of ineffectiveness in the six months ended June 30, 2011 and 2010, respectively. In both the six months ended June 30, 2011 and 2010, there were insignificant amounts excluded from the assessment of effectiveness.

 
Cash flow hedges
      
       Gain (loss) reclassified
 Gain (loss) recognized in AOCI from AOCI into earnings
(In millions)for the three months ended for the three months ended
 June 30, June 30, June 30, June 30,
 2011 2010 2011 2010
            
Cash flow hedges           
Interest rate contracts$(141) $(214) $(221) $(352)
Currency exchange contracts 500  (1,070)  459  (983)
Commodity contracts 2  6  12  2
Total$361 $(1,278) $250 $(1,333)

      
       Gain (loss) reclassified
 Gain (loss) recognized in AOCI from AOCI into earnings
(In millions)for the six months ended for the six months ended
 June 30, June 30, June 30, June 30,
 2011 2010 2011 2010
            
            
Cash flow hedges           
Interest rate contracts$(117) $(444) $(478) $(771)
Currency exchange contracts 764  (1,604)  952  (1,685)
Commodity contracts 2  9  8  0
Total$649 $(2,039) $482 $(2,456)
            
            

The total pre-tax amount in AOCI related to cash flow hedges of forecasted transactions was $(1,887) million at June 30, 2011. We expect to transfer $670 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 and six months ended June 30, 2011 and 2010, we recognized insignificant gains and losses, respectively, related to hedged forecasted transactions and firm commitments that did not occur by the end of the originally specified period. At June 30, 2011 and 2010, the maximum term of derivative instruments that hedge forecasted transactions was 21 years and 22 years, respectively.

 
Net investment hedges
 Gain (loss) recognized in CTA Gain (loss) reclassified from CTA
(In millions)for the three months ended for the three months ended
 June 30, June 30, June 30, June 30,
 2011 2010 2011 2010
Net investment hedges           
Currency exchange contracts$(2,605) $1,813 $(360) $(30)
            
            

 Gain (loss) recognized in CTA Gain (loss) reclassified from CTA
(In millions)for the six months ended for the six months ended
 June 30, June 30, June 30, June 30,
 2011 2010 2011 2010
Net investment hedges           
Currency exchange contracts$(3,406) $2,217 $(698) $(30)