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SUPPLEMENTAL INFORMATION (Tables)
 6 Months Ended
Jun. 30, 2017
Other Income and Expenses [Abstract]  
Schedule of Certain Supplemental Information Related to Cash Flows
Certain supplemental information related to our cash flows is shown below.
 
Six months ended June 30
(In millions)
2017

2016

 
 
 
GE
 
 
All other operating activities
 
 
(Gains) losses on purchases and sales of business interests
$
(42
)
$
(3,140
)
Contract assets (net)(a)
(3,202
)
(2,431
)
Income taxes(b)
(709
)
(1,184
)
Interest charges(c)
353

182

Principal pension plans(d)
1,542

1,680

Other
(1,122
)
(114
)
 
$
(3,180
)
$
(5,007
)
Net dispositions (purchases) of GE shares for treasury
 
 
Open market purchases under share repurchase program
$
(3,344
)
$
(14,244
)
Other purchases
—

(776
)
Dispositions
612

726

 
$
(2,732
)
$
(14,292
)
(a)
Contract assets are presented net of related billings in excess of revenues on our long-term product service agreements. See Note 9.
(b)
Reflected the effects of current tax expense (benefit) of $583 million and $500 million and net cash paid during the year for income taxes of $(1,292) million and $(1,684) million for the six months ended June 30, 2017 and 2016, respectively. Cash flows effects of deferred tax provisions (benefits) are shown separately within cash flows from operating activities.
(c)
Reflected the effects of interest expense of $1,200 million and $1,007 million and cash paid for interest of $(848) million and $(825) million for the six months ended June 30, 2017 and 2016, respectively.
(d)
Reflected the effects of pension costs of $1,869 million and $1,780 million and employer contributions of $(327) million and $(100) million for the six months ended June 30, 2017 and 2016, respectively. See Note 12.
Schedule of Fair Value of Derivatives
The table below summarizes this activity by hedging instrument.

FAIR VALUE OF DERIVATIVES
 
 
 
 
 
 
 
 
June 30, 2017
 
December 31, 2016
(In millions)
Assets

Liabilities

 
Assets

Liabilities

 
 
 
 
 
 
Derivatives accounted for as hedges
 
 
 
 
 
Interest rate contracts
$
2,728

$
109

 
$
3,106

$
210

Currency exchange contracts
62

160

 
402

624

Other contracts
—

—

 
—

—

 
2,790

269

 
3,508

834

 
 
 
 
 
 
Derivatives not accounted for as hedges
 
 
 
 
 
Interest rate contracts
58

10

 
62

20

Currency exchange contracts
1,132

2,199

 
1,778

4,011

Other contracts
97

34

 
119

17

 
1,287

2,242

 
1,958

4,048

 
 
 
 
 
 
Gross derivatives recognized in statement of financial position
 
 
 
 
 
Gross derivatives
4,077

2,511

 
5,467

4,883

Gross accrued interest
470

(13
)
 
768

(24
)
 
4,547

2,497

 
6,234

4,859

 
 
 
 
 
 
Amounts offset in statement of financial position
 
 
 
 
 
Netting adjustments(a)
(1,606
)
(1,605
)
 
(3,097
)
(3,094
)
Cash collateral(b)
(2,059
)
(462
)
 
(2,025
)
(1,355
)
 
(3,665
)
(2,066
)
 
(5,121
)
(4,449
)
 
 
 
 
 
 
Net derivatives recognized in statement of financial position
 
 
 
 
 
Net derivatives
882

431

 
1,113

410

 
 
 
 
 
 
Amounts not offset in statement of financial position
 
 
 
 
 
Securities held as collateral(c)
(432
)
—

 
(442
)
—

 
 
 
 
 
 
Net amount
$
450

$
431

 
$
671

$
410


Derivatives are classified in the captions "All other assets" and "All other liabilities" and the related accrued interest is classified in "Other GE Capital receivables" and "All other liabilities" in our Statement of Financial Position.

(a)
The netting of derivative receivables and payables is permitted when a legally enforceable master netting agreement exists. Amounts include fair value adjustments related to our own and counterparty non-performance risk. At June 30, 2017 and December 31, 2016, the cumulative adjustment for non-performance risk was $(1) million and $(3) million, respectively.
(b)
Excluded excess cash collateral received and posted of $284 million and $142 million at June 30, 2017, respectively, and $6 million and $177 million at December 31, 2016, respectively.
(c)
Excluded excess securities collateral received of $68 million and zero at June 30, 2017 and December 31, 2016, respectively.
Schedule of Cash Flow Hedge Activity
CASH FLOW HEDGE ACTIVITY
 
 
 
 
 
 
Gain (loss) recognized in AOCI
 
Gain (loss) reclassified
from AOCI into earnings
 
for the three months ended June 30
 
for the three months ended June 30
(In millions)
2017

2016

 
2017

2016

 
 
 
 
 
 
Interest rate contracts
$
3

$
12

 
$
(6
)
$
(26
)
Currency exchange contracts
32

1

 
71

40

Commodity contracts
(2
)
(1
)
 
—

(1
)
Total(a)
$
34

$
12

 
$
65

$
14

 
 
 
 
 
 
CASH FLOW HEDGE ACTIVITY
 
 
 
 
 
 
Gain (loss) recognized in AOCI
 
Gain (loss) reclassified
from AOCI into earnings
 
for the six months ended June 30
 
for the six months ended June 30
(In millions)
2017

2016

 
2017

2016

 
 
 
 
 
 
Interest rate contracts
$
2

$
31

 
$
(15
)
$
(55
)
Currency exchange contracts
54

(77
)
 
79

(13
)
Commodity contracts
—

—

 
—

(3
)
Total(a)
$
56

$
(45
)
 
$
64

$
(71
)
(a)
Gain (loss) is recorded in "GE Capital revenues from services", "Interest and other financial charges", and "Other costs and expenses" in our Statement of Earnings when reclassified.