Variable Interest Entities (Tables)

9 Months Ended

Sep. 30, 2014

Variable Interest Entities [Abstract]

Assets and Liabilities of Consolidated VIEs

			Consolidated Securitization Entities
									Trade
(In millions)	Trinity(a)		Credit cards		(b)	Equipment		(b)	receivables		Other		Total

September 30, 2014
Assets(c)
Financing receivables, net	$	-	$	25,043		$	12,849		$	3,044	$	2,754	$	43,690
Investment securities		2,451		-			-			-		1,049		3,500
Other assets		108		999	(d)		771			1		2,865		4,744
Total	$	2,559	$	26,042		$	13,620		$	3,045	$	6,668	$	51,934

Liabilities(c)
Borrowings	$	-	$	-		$	-		$	-	$	547	$	547
Non-recourse borrowings		-		15,091			10,763			2,479		447		28,780
Other liabilities		1,285		331			596			21		1,498		3,731
Total	$	1,285	$	15,422		$	11,359		$	2,500	$	2,492	$	33,058

December 31, 2013
Assets(c)
Financing receivables, net	$	-	$	24,766		$	12,928		$	2,509	$	2,044	$	42,247
Investment securities		2,786		-			-			-		1,044		3,830
Other assets		213		20			557			-		2,430		3,220
Total	$	2,999	$	24,786		$	13,485		$	2,509	$	5,518	$	49,297

Liabilities(c)
Borrowings	$	-	$	-		$	-		$	-	$	598	$	598
Non-recourse borrowings		-		15,363			10,982			2,180		49		28,574
Other liabilities		1,482		228			248			25		1,351		3,334
Total	$	1,482	$	15,591		$	11,230		$	2,205	$	1,998	$	32,506

Excluded intercompany advances from GECC to Trinity, which were eliminated in consolidation of $1,490 million and $1,837 million at September 30, 2014 and December 31, 2013, respectively.
We provide servicing to the CSEs and are contractually permitted to commingle cash collected from customers on financing receivables sold to CSE investors with our own cash prior to payment to a CSE, provided our short-term credit rating does not fall below A-1/P-1. These CSEs also owe us amounts for purchased financial assets and scheduled interest and principal payments. At September 30, 2014 and December 31, 2013, the amounts of commingled cash owed to the CSEs were $3,040 million and $6,314 million, respectively, and the amounts owed to us by CSEs were $2,918 million and $5,540 million, respectively.
Asset amounts exclude intercompany receivables for cash collected on behalf of the entities by GECC as servicer, which are eliminated in consolidation. Such receivables provide the cash to repay the entities’ liabilities. If these intercompany receivables were included in the table above, assets would be higher. In addition, other assets, borrowings and other liabilities exclude intercompany balances that are eliminated in consolidation.
Includes receivables required to be classified as held-for-sale following third-party notice to terminate a private label credit card program and purchase the program receivables.

Unconsolidated VIE

Investments in Unconsolidated VIEs

(In millions)	September 30, 2014		December 31, 2013

Other assets and investment securities	$	9,570	$	9,129
Financing receivables – net		2,930		3,346
Total investments		12,500		12,475
Contractual obligations to fund investments or guarantees		2,536		2,741
Revolving lines of credit		164		31
Total	$	15,200	$	15,247

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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