XML 153 R28.htm IDEA: XBRL DOCUMENT v3.5.0.2
Businesses Held For Sale and Discontinued Operations (Tables)
 6 Months Ended
Jun. 30, 2016
Financial Information For Businesses Held For Sale [Line Items]  
Businesses held for sale
FINANCIAL INFORMATION FOR ASSETS AND LIABILITIES OF BUSINESSES HELD FOR SALE
(In millions)June 30, 2016  December 31, 2015
 
Assets
Current receivables$35$79(a)
Inventories-583
Property, plant, and equipment – net121,208
Goodwill - 370
Other intangible assets – net6162
Other  6    416
Assets of businesses held for sale$59  $2,818
       
Liabilities     
Accounts payable$6$503(a)
Other current liabilities32325
Other 17 33
Liabilities of businesses held for sale$56 $861

(a) Certain transactions at our Appliances business were made on an arms-length basis with GE Capital, consisting primarily of GE customer receivables sold to GE Capital and GE Capital services for material procurement. These intercompany balances included within our held for sale businesses are reported in the GE and GE Capital columns of our financial statements, but are eliminated in deriving our consolidated financial statements.
Financial Information for Discontinued Operations
FINANCIAL INFORMATION FOR DISCONTINUED OPERATIONS
Three months ended June 30Six months ended June 30
(In millions)2016201520162015
Operations
Total revenues and other income (loss)$568$6,829$1,861$12,289
Earnings (loss) from discontinued operations before income taxes   $(240)$1,950$(160)$(2,743)
Benefit (provision) for income taxes 170 (493) 182 442
Earnings (loss) from discontinued operations, net of taxes$(70)$1,457$22$(2,301)
Disposal
Gain (loss) on disposal before income taxes$(295)$(3,384)$(540)$(7,036)
Benefit (provision) for income taxes (177) (1,021) (331) (2,546)
Gain (loss) on disposal, net of taxes$(472)$(4,405)$(871)$(9,582)
Earnings (loss) from discontinued operations, net of taxes(a)(b)$(541)$(2,947)$(849)$(11,883)

(a) The sum of GE industrial earnings (loss) from discontinued operations, net of taxes, and GE Capital earnings (loss) from discontinued operations, net of taxes, after adjusting for earnings (loss) attributable to noncontrolling interests related to discontinued operations, is reported within GE industrial earnings (loss) from discontinued operations, net of taxes, on the Consolidated Statement of Earnings (Loss).

(b) Earnings (loss) from discontinued operations attributable to the Company, before income taxes, was $(537) million and $(1,525) million for the three months ended June 30, 2016 and 2015, respectively, and $(703) million and $(9,960) million for the six months ended June 30, 2016 and 2015, respectively.

(In millions)June 30, 2016December 31, 2015
Assets
Cash and equivalents$4,190 $20,395
Investment securities6,1418,478
Financing receivables – net 1,9943,205
Other receivables8811,221
Property, plant and equipment – net8457,537
Goodwill1,5917,764
Other intangible assets - net3480
Deferred income taxes2,1012,447
Financing receivables held for sale31,10669,847
Valuation allowance on disposal group classified as discontinued operations(3,062)(6,374)
Other4,0446,350
Assets of discontinued operations$49,865$120,951
Liabilities
Short-term borrowings$609$739
Accounts payable1,3522,870
Non-recourse borrowings403,994
Bank deposits4,54525,613
Long-term borrowings558730
All other liabilities6,98311,053
Deferred income taxes2481,437
Other49 52
Liabilities of discontinued operations $14,384$46,487
CLL  
Financial Information For Businesses Held For Sale [Line Items]  
Financial Information for Discontinued Operations
FINANCIAL INFORMATION FOR COMMERCIAL LENDING AND LEASING
Three months ended June 30Six months ended June 30
(In millions)2016201520162015
Operations
Total revenues and other income (loss)$314$3,070$1,201$5,973
Interest$(126)$(641)$(403)$(1,343)
Selling, general and administrative expenses(421)(1,046)(1,046)(1,942)
Cost of services sold-(403)-(1,735)
Provision for losses on financing receivables-(13)(3)(1,757)
Other costs and expenses(23)1(15)(96)
Earnings (loss) from discontinued operations, before income taxes   (256)967(265)(900)
Benefit (provision) for income taxes 140 (309) 214 315
Earnings (loss) from discontinued operations, net of taxes$(116)$658$(51)$(585)
Disposal
Gain (loss) on disposal before income taxes$(465)$(3,380)$(630)$(5,225)
Benefit (provision) for income taxes (10) (949) (154) (1,927)
Gain (loss) on disposal, net of taxes$(475)$(4,329)$(784)$(7,152)
Earnings (loss) from discontinued operations, net of taxes(a)$(591)$(3,671)$(835)$(7,737)

(a) Earnings (loss) from discontinued operations attributable to the Company, before income taxes, was $(722) million and $(2,415) million for the three months ended June 30, 2016 and 2015, respectively, and $(897) million and $(6,128) million for the six months ended June 30, 2016 and 2015, respectively.
Real Estate  
Financial Information For Businesses Held For Sale [Line Items]  
Financial Information for Discontinued Operations
FINANCIAL INFORMATION FOR REAL ESTATE
Three months ended June 30Six months ended June 30
(In millions)2016201520162015
Operations
Total revenues and other income (loss)$15$313$25$812
Interest$(13)$(137)$(35)$(373)
Selling, general and administrative(24)(130)(77)(224)
Cost of services sold---(5)
Provision for losses on financing receivables---4
Other costs and expenses(7)(14)(6)(141)
Earnings (loss) from discontinued operations, before income taxes (29)32(94)74
Benefit (provision) for income taxes 38 13 57 43
Earnings (loss) from discontinued operations, net of taxes$9$45$(37)$117
Disposal
Gain (loss) on disposal before income taxes$6$(3)$(63)$(1,811)
Benefit (provision) for income taxes (3) (72) 62 (619)
Gain (loss) on disposal, net of taxes$3$(75)$(1)$(2,430)
Earnings (loss) from discontinued operations, net of taxes(a)$12$(30)$(38)$(2,313)

(a) Earnings (loss) from discontinued operations attributable to the Company, before income taxes, was $(23) million and $29 million for the three months ended June 30, 2016 and 2015, respectively, and $(156) million and $(1,738) million for the six months ended June 30, 2016 and 2015, respectively.
WMC  
Financial Information For Businesses Held For Sale [Line Items]  
Rollfoward of WMC's reserve and pending claims for WMC representation and warranty obligations
ROLLFORWARD OF THE RESERVE
Three months ended June 30Six months ended June 30
(In millions)2016 20152016 2015
Balance, beginning of period$833 $814$875 $809
Provision27118418
Claim resolutions / rescissions - - (99) (2)
Balance, end of period$860 $825$860 $825
Financial Information for Discontinued Operations
FINANCIAL INFORMATION FOR WMC
Three months ended June 30Six months ended June 30
(In millions)2016201520162015
Total revenues and other income (loss)$(18)$(5)$(58)$(5)
Earnings (loss) from discontinued operations, net of taxes$(20)$(10)$(52)$(16)
Consumer  
Financial Information For Businesses Held For Sale [Line Items]  
Financial Information for Discontinued Operations
FINANCIAL INFORMATION FOR CONSUMER
Three months ended June 30Six months ended June 30
(In millions)2016201520162015
Operations
Total revenues and other income (loss)$258$3,527$685$5,585
Interest$(46)$(573)$(97)$(1,184)
Selling, general, and administrative expenses(158)(1,104)(335)(2,172)
Cost of services sold----
Provision for losses on financing receivables-(761)-(3,869)
Investment contracts, insurance losses and insurance annuity benefits(1)(4)(1)(6)
Other costs and expenses(62)(114)(64)(240)
Earnings (loss) from discontinued operations, before income taxes   (9)971188(1,886)
Benefit (provision) for income taxes - (168) (101) (8)
Earnings (loss) from discontinued operations, net of taxes$(9)$803$87$(1,894)
Disposal
Gain (loss) on disposal before income taxes$164$-$153$-
Benefit (provision) for income taxes (164) - (240) -
Gain (loss) on disposal, net of taxes$-$-$(87)$-
Earnings (loss) from discontinued operations, net of taxes(a)$(9)$803$-$(1,894)

(a) Earnings (loss) from discontinued operations attributable to the Company, before income taxes, was $153 million and $882 million for the three months ended June 30, 2016 and 2015, respectively, and $339 million and $(2,062) million for the six months ended June 30, 2016 and 2015, respectively.