GECC Borrowings and Bank Deposits (Tables)

9 Months Ended

Sep. 30, 2014

Debt Disclosure [Abstract]

GECC Borrowings

(In millions)	September 30, 2014		December 31, 2013
Short-term borrowings
GE
Commercial paper	$	350	$	-
Payable to banks		652		346
Current portion of long-term borrowings		82		70
Other		959		1,425
Total GE short-term borrowings		2,043		1,841
GECC
Commercial paper
U.S.		21,999		24,877
Non-U.S.		3,014		4,168
Current portion of long-term borrowings(a)(b)		37,319		39,215
GE Interest Plus notes(c)		5,732		8,699
Other(b)		612		339
Total GECC short-term borrowings		68,676		77,298
Eliminations		(803)		(1,249)
Total short-term borrowings	$	69,916	$	77,890
Long-term borrowings
GE
Senior notes	$	13,944	$	10,968
Payable to banks		6		10
Other		593		537
Total GE long-term borrowings		14,543		11,515
GECC
Senior unsecured notes(a)(d)		170,048		186,433
Subordinated notes(e)		4,775		4,821
Subordinated debentures(f)		7,263		7,462
Other(b)(g)		16,649		11,563
Total GECC long-term borrowings		198,735		210,279
Eliminations		(99)		(129)
Total long-term borrowings	$	213,179	$	221,665
Non-recourse borrowings of consolidated securitization entities(h)	$	30,231	$	30,124
Bank deposits(i)	$	60,815	$	53,361
Total borrowings and bank deposits	$	374,141	$	383,040

(a)Included $461 million and $481millionof obligations to holders of GICs at September 30, 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 $7,385million and $9,468million of funding secured by real estate, aircraft and other collateral at September 30, 2014 and December 31, 2013, respectively, of which $2,524million and $2,868million is non-recourse to GECC at September 30, 2014 and December 31, 2013, respectively.

(c) Entirely variable denomination floating-rate demand notes.

(d) Included $700 million of debt at both September 30, 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. Also included $3,593 million related to Synchrony Financial. See Note 1.

(e) Included $300million of subordinated notes guaranteed by GE at both September 30, 2014 and December 31, 2013.

(f)Subordinated debentures receive rating agency equity credit.

(g) Included $7,495 million related to Synchrony Financial. See Note 1.

(h) Included $8,160 million and $9,047million of current portion of long-term borrowings at September 30, 2014 and December 31, 2013, respectively. See Note 16.

(i) Included $12,259million and $13,614million of deposits in non-U.S. banks at September 30, 2014 and December 31, 2013, respectively, and $22,872million and $18,275million of certificates of deposits with maturities greater than one year at September 30, 2014 and December 31, 2013, respectively.