Postretirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2014

Defined Benefit Plan Disclosure [Line Items]

Pension Plan Participants

PENSION PLAN PARTICIPANTS
		Principal	Other
		pension	pension
December 31, 2014	Total	plans	plans
Active employees	117,000	86,000	31,000
Vested former employees	225,000	179,000	46,000
Retirees and beneficiaries	267,000	232,000	35,000
Total	609,000	497,000	112,000

Cost of Postretirement Benefit Plans

COST OF PENSION PLANS
	Total						Principal pension plans							Other pension plans
(In millions)		2014		2013		2012		2014			2013		2012		2014		2013		2012
Service cost for benefits earned	$	1,608	$	1,970	$	1,779	$	1,205		$	1,535	$	1,387	$	403	$	435	$	392
Prior service cost amortization		220		253		287		214			246		279		6		7		8
Expected return on plan assets		(3,979)		(4,163)		(4,394)		(3,190)			(3,500)		(3,768)		(789)		(663)		(626)
Interest cost on benefit obligations		3,332		2,983		2,993		2,745			2,460		2,479		587		523		514
Net actuarial loss amortization		2,770		4,007		3,701		2,565			3,664		3,421		205		343		280
Curtailment loss		65		-		-		65	(a)		-		-		-		-		-
Pension plans cost	$	4,016	$	5,050	$	4,366	$	3,604		$	4,405	$	3,798	$	412	$	645	$	568

Actuarial Assumptions

	Principal pension plans								Other pension plans (weighted average)
December 31	2014		2013		2012		2011		2014		2013		2012		2011
Discount rate	4.02	%	4.85	%	3.96	%	4.21	%	3.53	%	4.39	%	3.92	%	4.42	%
Compensation increases	4.10		4.00		3.90		3.75		3.60		3.76		3.30		4.31
Expected return on assets	7.50		7.50		8.00		8.00		6.95		6.92		6.82		7.09

Accumulated Benefit Obligation

PROJECTED BENEFIT OBLIGATION
	Principal pension plans						Other pension plans
(In millions)	2014			2013			2014			2013
Balance at January 1	$	58,113		$	63,502		$	13,535		$	13,584
Service cost for benefits earned		1,205			1,535			403			435
Interest cost on benefit obligations		2,745			2,460			587			523
Participant contributions		153			156			9			14
Plan amendments		-			-			(29)			11
Actuarial loss (gain)		11,718	(a)		(6,406)	(b)		2,170	(b)		(575)	(b)
Benefits paid		(3,199)			(3,134)			(493)			(477)
Acquisitions (dispositions) / other - net		-			-			48			46
Exchange rate adjustments		-			-			(641)			(26)
Balance at December 31(c)	$	70,735		$	58,113		$	15,589		$	13,535

• Principally associated with discount rate and mortality assumption changes.
• Principally associated with discount rate changes.
• The PBO for the GE Supplementary Pension Plan, which is an unfunded plan, was $6,632 million and $5,162million at year-end 2014 and 2013, respectively.

ACCUMULATED BENEFIT OBLIGATION
December 31 (In millions)	2014		2013
GE Pension Plan	$	61,631	$	50,967
GE Supplementary Pension Plan		5,070		3,946
Other pension plans		14,790		12,629

Plans With Assets Less Than ABO

PLANS WITH ASSETS LESS THAN ABO
December 31 (In millions)	2014		2013
Funded plans with assets less than ABO
Plan assets	$	53,126	$	57,430
Accumulated benefit obligations		67,676		60,715
Projected benefit obligations		70,354		63,532
Unfunded plans(a)
Accumulated benefit obligations		6,719		5,243
Projected benefit obligations		8,342		6,512

Primarily related to the GE Supplementary Pension Plan.

Fair Value of Plan Assets

FAIR VALUE OF PLAN ASSETS
	Principal pension plans				Other pension plans
(In millions)	2014		2013		2014		2013
Balance at January 1	$	48,297	$	44,738	$	11,059	$	9,702
Actual gain on plan assets		2,793		6,312		1,537		1,212
Employer contributions		236		225		726		673
Participant contributions		153		156		9		14
Benefits paid		(3,199)		(3,134)		(493)		(477)
Acquisitions (dispositions) / other - net		-		-		-		(31)
Exchange rate adjustments		-		-		(452)		(34)
Balance at December 31	$	48,280	$	48,297	$	12,386	$	11,059

Asset Allocation

ASSET ALLOCATION
					Other pension plans
	Principal pension plans				(weighted average)
	2014		2014		2014		2014
	Target		Actual		Target		Actual
	allocation		allocation		allocation		allocation
Equity securities(a)	17 - 57	% (b)	45	% (c)	39	%	48	%
Debt securities (including cash equivalents)	13 - 53		31		35		38
Private equities	8 - 18		11		7		2
Real estate	2 - 12		7		9		6
Other investments(d)	3 - 13		6		10		6

• Includes investment funds that primarily hold this type of asset.
• Target equally divided between U.S. equity securities and non-U.S. equity securities.
• Actual allocations were 25% for U.S. equity securities and 20% for non-U.S. equity securities.
• Substantially all represented hedge fund investments.

Pension Plan Investments Measured at Fair Value

(In millions)		Level 1		Level 2		Level 3		Total
December 31, 2014
Equity securities
U.S. equity securities(a)	$	11,493	$	1,463	$	-	$	12,956
Non-U.S. equity securities(a)		7,021		2,132		-		9,153
Debt securities
Fixed income and cash investment funds		245		4,255		-		4,500
U.S. corporate(b)		-		5,153		2		5,155
Residential mortgage-backed		-		1,118		1		1,119
Non-U.S. Corporate		-		1,097		3		1,100
U.S. government and federal agency		-		2,468		-		2,468
Other debt securities(c)		-		1,042		-		1,042
Private equities(a)		-		32		5,217		5,249
Real estate(a)		-		-		3,129		3,129
Other investments(d)		-		70		2,248		2,318
Total investments	$	18,759	$	18,830	$	10,600	$	48,189
Other(e)								91
Total assets							$	48,280
December 31, 2013
Equity securities
U.S. equity securities(a)	$	11,067	$	1,568	$	-	$	12,635
Non-U.S. equity securities(a)		7,832		1,292		-		9,124
Debt securities
Fixed income and cash investment funds		-		2,078		-		2,078
U.S. corporate(b)		-		4,555		-		4,555
Residential mortgage-backed		-		1,093		-		1,093
Non-U.S. Corporate		-		1,269		-		1,269
U.S. government and federal agency		-		5,253		-		5,253
Other debt securities(c)		-		1,048		-		1,048
Private equities(a)		-		-		6,269		6,269
Real estate(a)		-		-		3,354		3,354
Other investments(d)		-		169		1,622		1,791
Total investments	$	18,899	$	18,325	$	11,245	$	48,469
Other(e)								(172)
Total assets							$	48,297

Included direct investments and investment funds.

(b) Primarily represented investment-grade bonds of U.S. issuers from diverse industries.

(c) Primarily represented investments in state and municipal debt, non-U.S. government bonds and commercial mortgage-backed securities.

(d) Substantially all represented hedge fund investments.

(e) Primarily represented net unsettled transactions related investment activity and cash balances.

Changes in Level 3 Investments

CHANGES IN LEVEL 3 INVESTMENTS FOR THE YEAR ENDED DECEMBER 31, 2014
									Purchases,		Transfers
									issuances		in and/or
	January 1,		Net realized			Net unrealized			and		out of			December 31,
(In millions)	2014		gains (losses)		(a)	gains (losses)		(a)	settlements		Level 3		(b)	2014
Debt securities	$	-	$	(9)		$	11		$	4	$	-		$	6
Private equities		6,269		592			(54)			(1,565)		(25)			5,217
Real estate		3,354		36			334			(595)		-			3,129
Other investments		1,622		47			86			194		299			2,248
	$	11,245	$	666		$	377		$	(1,962)	$	274		$	10,600

• The realized/unrealized gains (losses) include $899 million related to assets still held and $144 million for assets no longer held.
• Transfers in and out of Level 3 are considered to occur at the beginning of the period.

CHANGES IN LEVEL 3 INVESTMENTS FOR THE YEAR ENDED DECEMBER 31, 2013
									Purchases,		Transfers
									issuances		in and/or
	January 1,		Net realized			Net unrealized			and		out of			December 31,
(In millions)	2013		gains (losses)		(a)	gains (losses)		(a)	settlements		Level 3		(b)	2013
Debt securities	$	75	$	(7)		$	-		$	(65)	$	(3)		$	-
Private equities		6,878		525			588			(1,675)		(47)			6,269
Real estate		3,356		23			330			(355)		-			3,354
Other investments		1,694		(1)			200			(77)		(194)			1,622
	$	12,003	$	540		$	1,118		$	(2,172)	$	(244)		$	11,245

• The realized/unrealized gains (losses) include $1,616 million related to assets still held and $42 million for assets no longer held.
• Transfers in and out of Level 3 are considered to occur at the beginning of the period.

Pension Asset (Liability)

PENSION ASSET (LIABILITY)
	Principal pension plans				Other pension plans
December 31 (In millions)	2014		2013		2014		2013
Funded status(a)(b)	$	(22,455)	$	(9,816)	$	(3,203)	$	(2,476)
Pension asset (liability) recorded in the
Statement of Financial Position
Pension asset	$	-	$	-	$	295	$	325
Pension liabilities
Due within one year(c)		(190)		(170)		(72)		(67)
Due after one year		(22,265)		(9,646)		(3,426)		(2,734)
Net amount recognized	$	(22,455)	$	(9,816)	$	(3,203)	$	(2,476)
Amounts recorded in shareowners’
equity (unamortized)
Prior service cost (credit)	$	881	$	1,160	$	(23)	$	9
Net actuarial loss		21,105		11,555		3,533		2,459
Total	$	21,986	$	12,715	$	3,510	$	2,468

Fair value of assets less PBO, as shown in the preceding tables.

(b) The GE Pension Plan was underfunded by $15.8 billion and $4.7 billion at December 31, 2014 and 2013, respectively.

(c)For principal pension plans, represents the GE Supplementary Pension Plan liability.

Estimated Future Benefit Payments

ESTIMATED FUTURE BENEFIT PAYMENTS
												2020 -
(In millions)		2015		2016		2017		2018		2019		2024
Principal pension plans	$	3,225	$	3,300	$	3,380	$	3,465	$	3,560	$	19,430
Other pension plans	$	505	$	510	$	520	$	530	$	540	$	2,925

Retiree Benefit Plan [Member]

Defined Benefit Plan Disclosure [Line Items]

Cost of Postretirement Benefit Plans

COST OF PRINCIPAL RETIREE BENEFIT PLANS
(In millions)	2014			2013		2012
Service cost for benefits earned	$	164		$	229	$	219
Prior service cost amortization		353			393		518
Expected return on plan assets		(50)			(60)		(73)
Interest cost on benefit obligations		424			410		491
Net actuarial loss (gain) amortization		(150)			(45)		32
Net curtailment/settlement loss (gain)		48	(a)		-		(101)
Retiree benefit plans cost	$	789		$	927	$	1,086

Actuarial Assumptions

December 31	2014		2013		2012		2011
Discount rate	3.89	%	4.61	%(a)	3.74	%(a)	4.09	%(a)
Compensation increases	4.10		4.00		3.90		3.75
Expected return on assets	7.00		7.00		7.00		7.00
Initial healthcare trend rate(b)	6.00		6.00		6.50		7.00

• Weighted average discount rates of 4.47%, 3.77%, and 3.94% were used for determination of costs in 2014, 2013 and 2012, respectively.
• For 2014, ultimately declining to 5% for 2030 and thereafter.

Accumulated Benefit Obligation

ACCUMULATED POSTRETIREMENT BENEFIT OBLIGATION (APBO)
(In millions)		2014			2013
Balance at January 1	$	9,913		$	11,804
Service cost for benefits earned		164			229
Interest cost on benefit obligations		424			410
Participant contributions		52			52
Plan amendments		(586)			-
Actuarial loss (gain)		1,440	(a)		(1,836)	(b)
Benefits paid		(704)			(746)
Balance at December 31(c)	$	10,703		$	9,913

• Primarily associated with discount rate and mortality assumption changes.
• Primarily associated with discount rate change and lower costs from new healthcare supplier contracts.
• The APBO for the retiree health plans was $8,445 million and $7,626 million at year-end 2014 and 2013, respectively.

Effect of a One Percentage Point Change in Assumed Healthcare Cost Trend Rate

	1%		1%
(In millions)	Increase		Decrease
APBO at December 31, 2014	$	977	$	(810)
Service and interest cost in 2014		56		(47)

Fair Value of Plan Assets

FAIR VALUE OF PLAN ASSETS
(In millions)		2014		2013
Balance at January 1	$	903	$	946
Actual gain on plan assets		44		118
Employer contributions		518		533
Participant contributions		52		52
Benefits paid		(704)		(746)
Balance at December 31	$	813	$	903

Asset Allocation

ASSET ALLOCATION
	2014		2014
	Target		Actual
December 31	allocation		allocation
Equity securities(a)	35 - 75	%(b)	50	%(c)
Debt securities (including cash equivalents)	11 - 46		26
Private equities	0 - 25		13
Real estate	0 - 12		9
Other investments(d)	0 - 10		2

• Includes investment fundsthat primarily hold this type of asset.
• Target allocations were 18-38% for U.S. equity securities and 17-37% for non-U.S. equity securities.
• Actual allocations were 29% for U.S. equity securities and 21% for non-U.S. equity securities.
• Substantially all represented hedge fund investments.

Pension Asset (Liability)

RETIREE BENEFIT ASSET(LIABILITY)
December 31 (In millions)		2014		2013
Funded status(a)	$	(9,890)	$	(9,010)
Liability recorded in the Statement of Financial Position
Retiree health plans
Due within one year	$	(518)	$	(531)
Due after one year		(7,927)		(7,095)
Retiree life plans		(1,445)		(1,384)
Net liability recognized	$	(9,890)	$	(9,010)
Amounts recorded in shareowners' equity (unamortized)
Prior service cost (credit)	$	(24)	$	963
Net actuarial gain		(71)		(1,667)
Total	$	(95)	$	(704)

Estimated Future Benefit Payments

ESTIMATED FUTURE BENEFIT PAYMENTS
												2020 -
(In millions)		2015		2016		2017		2018		2019		2024
	$	680	$	665	$	670	$	675	$	685	$	3,285

Postretirement Benefit Plans

POSTRETIREMENT BENEFIT PLANS
2014 COST OF POSTRETIREMENT BENEFIT PLANS AND CHANGES IN OTHER COMPREHENSIVE INCOME
	Total		Principal		Other		Retiree
	postretirement		pension		pension		benefit
(In millions)	benefit plans		plans		plans		plans
Cost of postretirement benefit plans	$	4,805	$	3,604	$	412	$	789
Changes in other comprehensive income
Prior service cost – current year		(615)		-		(29)		(586)
Net actuarial loss – current year(a)		14,843		12,115		1,282		1,446
Net curtailment/settlement		(113)		(65)		-		(48)
Prior service cost amortization		(573)		(214)		(6)		(353)
Net actuarial gain (loss) amortization		(2,620)		(2,565)		(205)		150
Total changes in other comprehensive income		10,922		9,271		1,042		609
Cost of postretirement benefit plans and
changes in other comprehensive income	$	15,727	$	12,875	$	1,454	$	1,398