BUSINESSES HELD FOR SALE AND DISCONTINUED OPERATIONS (Tables)

9 Months Ended

Sep. 30, 2017

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Financial Information for Assets and Liabilities of Businesses Held For Sale and Discontinued Operations

FINANCIAL INFORMATION FOR DISCONTINUED OPERATIONS
	Three months ended September 30						Nine months ended September 30
(In millions)	2017			2016			2017			2016
Operations
Total revenues and other income (loss)	$	35		$	633		$	123		$	2,494
Earnings (loss) from discontinued operations before income taxes	$	(191	)	$	6		$	(603	)	$	(154	)
Benefit (provision) for income taxes(a)	71			278			198			460
Earnings (loss) from discontinued operations, net of taxes	$	(120	)	$	284		$	(404	)	$	306
Disposal
Gain (loss) on disposal before income taxes	$	22		$	(50	)	$	3		$	(591	)
Benefit (provision) for income taxes(a)	(8		)	(339		)	(89		)	(670		)
Gain (loss) on disposal, net of taxes	$	14		$	(389	)	$	(86	)	$	(1,261	)
Earnings (loss) from discontinued operations, net of taxes(b)(c)	$	(106	)	$	(105	)	$	(490	)	$	(954	)

(a) GE Capital's total tax benefit (provision) for discontinued operations and disposals included current tax benefit (provision) of $(63) million and $726 million for the three months ended September 30, 2017 and 2016, respectively, and $(386) million and $(154) million for the nine months ended September 30, 2017 and 2016, respectively, including current U.S. Federal tax benefit (provision) of $1 million and $678 million for the three months ended September 30, 2017 and 2016, respectively, and $(518) million and $207 million for the nine months ended September 30, 2017 and 2016, respectively. The deferred tax benefit (provision) was $126 million and $(787) million for the three months ended September 30, 2017 and 2016, respectively, and $495 million and $(56) million for the nine months ended September 30, 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 earnings (loss) from discontinued operations, net of taxes, in the GE Industrial column of the Consolidated Statement of Earnings (Loss).

(c) Earnings (loss) from discontinued operations attributable to the Company, before income taxes, was $(168) million and $(43) million for the three months ended September 30, 2017 and 2016, respectively, and $(606) million and $(746) million for the nine months ended September 30, 2017 and 2016, respectively.

(In millions)	September 30, 2017		December 31, 2016
Assets
Cash and equivalents	$	496	$	1,429
Investment securities	1,131		2,626
Deferred income taxes	969		487
Financing receivables held for sale	3,631		8,547
Other assets	564		1,727
Assets of discontinued operations	$	6,791	$	14,815
Liabilities
Accounts payable	51		164
Borrowings	—		2,076
Other liabilities	939		1,918
Liabilities of discontinued operations	$	990	$	4,158

FINANCIAL INFORMATION FOR ASSETS AND LIABILITIES OF BUSINESSES HELD FOR SALE
(In millions)	September 30, 2017		December 31, 2016
Assets
Current receivables(a)	$	339	$	366
Inventories	361		211
Property, plant, and equipment – net	390		632
Goodwill	1,050		212
Other intangible assets – net	130		123
Contract assets	52		125
Other	46		76
Assets of businesses held for sale	$	2,369	$	1,745
Liabilities
Accounts payable	$	219	$	190
Progress collections and price adjustments accrued	21		141
Other current liabilities	131		133
Non-current compensation and benefits	152		82
Other	38		110
Liabilities of businesses held for sale	$	561	$	656

(a) Included transactions in our industrial businesses that were made on an arms-length basis with GE Capital, including GE current receivables sold to GE Capital of $148 million and $117 million at September 30, 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.