BUSINESSES HELD FOR SALE AND DISCONTINUED OPERATIONS (Tables)

6 Months Ended

Jun. 30, 2020

Discontinued Operations and Disposal Groups [Abstract]

Financial Information for Discontinued Operations

RESULTS OF DISCONTINUED OPERATIONS (In millions)	Baker Hughes						Transportation					GE Capital						Total
Three months ended June 30	2020			2019			2020		2019			2020			2019			2020			2019
Operations
Sales of goods and services	$	—		$	5,953		$	—	$	—		$	—		$	—		$	—		$	5,953
GE Capital revenues from services	—			—			—		—			71			(48		)	71			(48		)
Cost of goods and services sold	—			(4,954		)	—		—			—			—			—			(4,954		)
Other income, costs and expenses	(3		)	(981		)	1		3			(62		)	(16		)	(64		)	(993		)
Earnings (loss) of discontinued operations before   income taxes	(3		)	18			1		3			10			(64		)	8			(42		)
Benefit (provision) for income taxes	2			(33		)	—		(7		)	8			302			9			261
Earnings (loss) of discontinued operations,   net of taxes(a)	$	(1	)	$	(15	)	$	1	$	(4	)	$	17		$	238		$	17		$	219
Disposal
Gain (loss) on disposal before income taxes	(10		)	—			—		—			—			—			(10		)	—
Benefit (provision) for income taxes	—			—			—		—			—			—			—			—
Gain (loss) on disposal, net of taxes	$	(10	)	$	—		$	—	$	—		$	—		$	(1	)	$	(10	)	$	(1	)
Earnings (loss) from discontinued operations,   net of taxes	$	(11	)	$	(15	)	$	1	$	(4	)	$	17		$	238		$	7		$	219

(In millions)	Baker Hughes						Transportation						GE Capital						Total
Six months ended June 30	2020			2019			2020			2019			2020			2019			2020			2019
Operations
Sales of goods and services	$	—		$	11,569		$	—		$	549		$	—		$	—		$	—		$	12,118
GE Capital revenues from services	—			—			—			—			(5		)	(9		)	(5		)	(9		)
Cost of goods and services sold	—			(9,631		)	—			(478		)	—			—			—			(10,109		)
Other income, costs and expenses	(3		)	(1,768		)	(3		)	(6		)	(146		)	(89		)	(152		)	(1,863		)
Earnings (loss) of discontinued operations before   income taxes	(3		)	170			(3		)	65			(151		)	(98		)	$	(157	)	$	137
Benefit (provision) for income taxes	(11		)	(116		)	6			(19		)	4			327			—			192
Earnings (loss) of discontinued operations,   net of taxes(a)	$	(14	)	$	55		$	4		$	46		$	(147	)	$	228		$	(157	)	$	329
Disposal
Gain (loss) on disposal before income taxes	(13		)	—			—			3,471			—			47			$	(13	)	$	3,517
Benefit (provision) for income taxes	—			—			—			(963		)	—			(2		)	—			(964		)
Gain (loss) on disposal, net of taxes	$	(13	)	$	—		$	—		$	2,508		$	—		$	45		$	(13	)	$	2,553
Earnings (loss) from discontinued operations,   net of taxes	$	(27	)	$	55		$	4		$	2,554		$	(147	)	$	273		$	(171	)	$	2,881

(a) Earnings (loss) of discontinued operations attributable to the Company after income taxes was $17 million and $242 million for the three months ended June 30, 2020 and 2019, respectively. Earnings (loss) of discontinued operations attributable to the Company after income taxes was $(155) million and $317 million for the six months ended June 30, 2020 and 2019, respectively.

ASSETS AND LIABILITIES OF DISCONTINUED OPERATIONS (In millions)	June 30, 2020		December 31, 2019
Cash, cash equivalents and restricted cash	$	477	$	638
Investment securities	91		202
Current receivables	61		81
Financing receivables held for sale (Polish mortgage portfolio)	2,398		2,485
Property, plant, and equipment	112		123
Deferred income taxes	213		264
All other assets	265		317
Assets of discontinued operations(a)	$	3,617	$	4,109
Accounts payable & Progress collections and deferred income	$	15	$	40
All other liabilities(b)	220		163
Liabilities of discontinued operations(a)	$	235	$	203

(a) Assets and liabilities of discontinued operations included $3,462 million and $84 million related to GE Capital as of June 30, 2020, respectively.

(b) Included within All other liabilities of discontinued operations at June 30, 2020 and December 31, 2019, are intercompany tax receivables in the amount of $829 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.