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BUSINESSES HELD FOR SALE AND DISCONTINUED OPERATIONS (Tables)
 3 Months Ended
Mar. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]  
Financial Information for Assets and Liabilities of Businesses Held for Sale
ASSETS AND LIABILITIES OF BUSINESSES HELD FOR SALE (In millions)
March 31, 2020

December 31, 2019





Current receivables
$
217

$
499

Inventories
160

712

Financing receivables held for sale
197

197

Property, plant, and equipment
77

958

Goodwill and Other intangible assets - net
169

6,286

Valuation allowance
(412
)
(719
)
Deferred income taxes
—

815

All other assets
97

400

Assets of businesses held for sale
$
506

$
9,149




Accounts payable & Progress collections and deferred income
$
135

$
843

Non-current compensation and benefits
—

466

All other liabilities
84

349

Liabilities of businesses held for sale
$
219

$
1,658
Financial Information for Discontinued Operations
RESULTS OF DISCONTINUED OPERATIONS
(In millions)
Baker Hughes
 
Transportation
 
 GE Capital
 
Total
Three months ended March 31
2020
2019
 
2020
2019
 
2020
2019
 
2020
2019
 
 
 
 
 
 
 
 
 
 
 
 
Operations
 
 
 
 
 
 
 
 
 
 
 
Sales of goods and services
$
—

$
5,616

 
$
—

$
549

 
$
—

$
—

 
$
—

$
6,165

GE Capital revenues from services
—

—

 
—

—

 
(76
)
39

 
(76
)
39

Cost of goods and services sold
—

(4,677
)
 
—

(478
)
 
—

—

 
—

(5,155
)
Other costs and expenses
—

(787
)
 
(4
)
(9
)
 
(85
)
(74
)
 
(89
)
(870
)
 
 
 
 
 
 
 
 
 
 
 
 
Earnings (loss) of discontinued operations before income taxes
—

152

 
(4
)
62

 
(161
)
(35
)
 
(165
)
179

Benefit (provision) for income taxes
(13
)
(82
)
 
7

(12
)
 
(3
)
25

 
(9
)
(70
)
Earnings (loss) of discontinued operations, net of taxes(a)
$
(13
)
$
70

 
$
3

$
50

 
$
(164
)
$
(10
)
 
$
(174
)
$
109

 
 
 
 
 
 
 
 
 
 
 
 
Disposal
 
 
 
 
 
 
 
 
 
 
 
Gain (loss) on disposal before income taxes
(4
)
—

 
—

3,471

 
—

47

 
(4
)
3,518

Benefit (provision) for income taxes
—

—

 
—

(963
)
 
—

(2
)
 
—

(964
)
Gain (loss) on disposal, net of taxes
$
(4
)
$
—

 
$
—

$
2,508

 
$
—

$
45

 
$
(4
)
$
2,553

 
 
 
 
 
 
 
 
 
 
 
 
Earnings (loss) from discontinued operations, net of taxes
$
(17
)
$
70

 
$
3

$
2,558

 
$
(164
)
$
35

 
$
(178
)
$
2,663

(a) Earnings (loss) of discontinued operations attributable to the Company after income taxes was $(172) million and $76 million for the three months ended March 31, 2020 and 2019 respectively.
ASSETS AND LIABILITIES OF DISCONTINUED OPERATIONS (In millions)
March 31, 2020

December 31, 2019




Cash, cash equivalents and restricted cash
$
437

$
638

Investment securities
170

202

Current receivables
63

81

Financing receivables held for sale (Polish mortgage portfolio)
2,371

2,485

 Property, plant, and equipment
117

123

Deferred income taxes
211

264

All other assets
285

317

Assets of discontinued operations
$
3,653

$
4,109




Accounts payable & Progress collections and deferred income
$
22

$
40

All other liabilities (a)
117

163

Liabilities of discontinued operations
$
139

$
203


(a) Included within All other liabilities of discontinued operations at March 31, 2020 and December 31, 2019 are intercompany tax receivables in the amount of $880 million and $839 million, respectively, primarily related to the financial services businesses that were part of the GE Capital Exit Plan, which are offset within All other liabilities of consolidated GE.