Businesses Held For Sale and Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2017

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)	March 31, 2017		December 31, 2016
Assets
Current receivables(a)	$	687	$	366
Inventories		576		211
Property, plant, and equipment – net		1,002		632
Goodwill		1,290		212
Other intangible assets – net		238		123
Contract assets		192		125
Other		91		76
Assets of businesses held for sale	$	4,076	$	1,745
Liabilities
Accounts payable	$	367	$	190
Progress collections and price adjustments accrued		167		141
Other current liabilities		226		133
Non-current compensation and benefits		221		82
Other		164		110
Liabilities of businesses held for sale	$	1,144	$	656

(a) Included transactions in our industrial businesses that were made on an arms-length basis with GE Capital, consisting of GE customer receivables sold to GE Capital of $264 million and $117 million at March 31, 2017 and December 31, 2016, respectively. 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

(a) GE Capital’s total tax benefit (provision) for discontinued operations and disposals included current tax benefit (provision) of $(576)million and $(834) million for the three months ended March 31, 2017 and2016, respectively, including current U.S. Federal tax benefit (provision) of $(587) million and $(501) million for the three months ended March 31, 2017 and 2016, respectively, and deferred tax benefit (provision) of $560 million and $691 million for the three months ended March 31, 2017 and 2016, respectively.

(b) 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).

(c) Earnings (loss) from discontinued operations attributable to the Company, before income taxes, was $(223) million and $(166) million for the three months ended March 31, 2017 and 2016, respectively

(In millions)	March 31, 2017		December 31, 2016
Assets
Cash and equivalents	$	808	$	1,429
Investment securities		2,105		2,626
Deferred income taxes		988		487
Financing receivables held for sale		4,281		8,547
Valuation allowance on disposal group classified as discontinued operations		(79)		(726)
Other assets		1,682		2,453
Assets of discontinued operations	$	9,786	$	14,815
Liabilities
Accounts payable	$	122	$	164
Borrowings		-		2,076
Other liabilities		1,619		1,918
Liabilities of discontinued operations	$	1,741	$	4,158