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GECC Financing Receivables and Allowance For Losses On Financing Receivables
 3 Months Ended
Mar. 31, 2013
Loans and Leases Receivable Disclosure [Abstract]  
GECC Financing Receivables and Allowance For Losses On Financing Receivables

5. GECC FINANCING RECEIVABLES AND ALLOWANCE FOR LOSSES ON FINANCING RECEIVABLES

 At
 March 31, December 31,
(In millions)2013 2012
      
Loans, net of deferred income(a)$232,456 $241,465
Investment in financing leases, net of deferred income 31,227  32,471
  263,683  273,936
Less allowance for losses (5,359)  (4,985)
Financing receivables – net(b)$258,324 $268,951
      
      

  • Deferred income was $1,945 million and $2,182 million at March 31, 2013 and December 31, 2012, respectively.
  • Financing receivables at March 31, 2013 and December 31, 2012 included $699 million and $750 million, respectively, relating to loans that had been acquired in a transfer but have been subject to credit deterioration since origination per ASC 310, Receivables.

 

The following tables provide additional information about our financing receivables and related activity in the allowance for losses for our Commercial, Real Estate and Consumer portfolios.

 

  
 March 31, December 31,
(In millions)2013 2012
      
Commercial     
CLL     
Americas$72,318 $72,517
Europe 35,435  37,035
Asia 10,158  11,401
Other 534  605
Total CLL 118,445  121,558
      
Energy Financial Services 4,734  4,851
      
GE Capital Aviation Services (GECAS) 10,557  10,915
      
Other 456  486
Total Commercial 134,192  137,810
      
Real Estate 19,733  20,946
      
Consumer     
Non-U.S. residential mortgages 31,689  33,451
Non-U.S. installment and revolving credit 18,050  18,546
U.S. installment and revolving credit 48,523  50,853
Non-U.S. auto 3,937  4,260
Other 7,559  8,070
Total Consumer 109,758  115,180
      
Total financing receivables 263,683  273,936
      
Less allowance for losses (5,359)  (4,985)
Total financing receivables – net$258,324 $268,951
      
      

Allowance for Losses on Financing Receivables

 Balance at Provision       Balance at
 January 1, charged to    Gross   March 31,
(In millions)2013 operations Other(a)write-offs(b)Recoveries(b)2013
                  
Commercial                 
CLL                 
Americas$490 $74 $(1) $(103) $30 $490
Europe 445  83  (5)  (132)  20  411
Asia 80  11  (5)  (18)  4  72
Other 6  (3)  0  0  0  3
Total CLL 1,021  165  (11)  (253)  54  976
                  
Energy Financial                 
    Services 9  (1)  0  0  0  8
                  
GECAS 8  (1)  0  0  0  7
                  
Other 3  0  0  (1)  0  2
Total Commercial 1,041  163  (11)  (254)  54  993
                  
Real Estate 320  (20)  (6)  (29)  0  265
                  
Consumer                 
Non-U.S. residential                 
   mortgages 480  56  (16)  (55)  12  477
Non-U.S. installment                 
   and revolving                  
   credit 623  211  (15)  (252)  145  712
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 3,624  1,345  (79)  (1,133)  344  4,101
Total$4,985 $1,488 $(96) $(1,416) $398 $5,359
                  
                  

  • Other primarily included the effects of currency exchange.
  • Net write-offs (gross write-offs less recoveries) in certain portfolios may exceed the beginning allowance for losses as a result of losses that are incurred subsequent to the beginning of the fiscal year due to information becoming available during the current year, which may identify further deterioration on existing financing receivables.

 

  Balance at Provision       Balance at
  January 1, charged to    Gross   March 31,
(In millions) 2012 operations Other(a) write-offs(b) Recoveries(b) 2012
                   
Commercial                  
CLL                  
Americas $889 $66 $(20) $(156) $23 $802
Europe  400  83  1  (45)  19  458
Asia  157  11  (5)  (56)  5  112
Other  4  0  0  (2)  0  2
Total CLL  1,450  160  (24)  (259)  47  1,374
                   
Energy Financial                  
    Services  26  (1)  0  0  0  25
                   
GECAS  17  (3)  0  0  0  14
                   
Other  37  2  (19)  0  0  20
Total Commercial  1,530  158  (43)  (259)  47  1,433
                   
Real Estate  1,089  38  (12)  (188)  2  929
                   
Consumer                  
Non-U.S. residential                  
   mortgages  546  29  8  (103)  18  498
Non-U.S. installment                  
   and revolving credit  717  124  28  (273)  130  726
U.S. installment and                  
   revolving credit  2,008  478  0  (772)  131  1,845
Non-U.S. auto  101  10  (6)  (41)  24  88
Other  199  26  16  (66)  20  195
Total Consumer  3,571  667  46  (1,255)  323  3,352
Total $6,190 $863 $(9) $(1,702) $372 $5,714
                   
                   

  • Other primarily included transfers to held for sale and the effects of currency exchange.
  • Net write-offs (gross write-offs less recoveries) in certain portfolios may exceed the beginning allowance for losses as a result of losses that are incurred subsequent to the beginning of the fiscal year due to information becoming available during the current year, which may identify further deterioration on existing financing receivables.

 

See Note 17 for supplemental information about the credit quality of financing receivables and allowance for losses on financing receivables.