BUSINESSES HELD FOR SALE AND DISCONTINUED OPERATIONS (Tables)

9 Months Ended

Sep. 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 September 30	2020		2019		2020		2019		2020		2019		2020		2019
Operations
Sales of goods and services	$	—	$	4,478	$	—	$	—	$	—	$	—	$	—	$	4,478
GE Capital revenues from services	—		—		—		—		43		16		43		16
Cost of goods and services sold	—		(3,686)		—		—		—		—		—		(3,686)
Other income, costs and expenses	4		(618)		2		(16)		(63)		(53)		(57)		(686)
Earnings (loss) of discontinued operations before   income taxes	4		175		2		(16)		(20)		(37)		(14)		121
Benefit (provision) for income taxes	(5)		(50)		—		6		(8)		29		(12)		(14)
Earnings (loss) of discontinued operations,   net of taxes(a)	$	—	$	125	$	2	$	(9)	$	(28)	$	(8)	$	(26)	$	107
Disposal
Gain (loss) on disposal before income taxes	—		(8,667)		(12)		—		3		(10)		(8)		(8,677)
Benefit (provision) for income taxes	—		477		—		—		(1)		—		(1)		477
Gain (loss) on disposal, net of taxes	$	—	$	(8,190)	$	(12)	$	—	$	2	$	(10)	$	(9)	$	(8,201)
Earnings (loss) from discontinued operations,   net of taxes	$	—	$	(8,066)	$	(10)	$	(9)	$	(26)	$	(18)	$	(35)	$	(8,093)

	Baker Hughes				Transportation				GE Capital				Total
Nine months ended September 30	2020		2019		2020		2019		2020		2019		2020		2019
Operations
Sales of goods and services	$	—	$	16,047	$	—	$	549	$	—	$	—	$	—	$	16,596
GE Capital revenues from services	—		—		—		—		38		7		38		7
Cost of goods and services sold	—		(13,317)		—		(478)		—		—		—		(13,795)
Other income, costs and expenses	1		(2,386)		(1)		(22)		(209)		(142)		(209)		(2,550)
Earnings (loss) of discontinued operations before   income taxes	1		345		(1)		49		(171)		(136)		(171)		258
Benefit (provision) for income taxes	(15)		(165)		7		(13)		(4)		356		(12)		178
Earnings (loss) of discontinued operations,   net of taxes(a)	$	(14)	$	179	$	6	$	36	$	(175)	$	220	$	(184)	$	436
Disposal
Gain (loss) on disposal before income taxes	(13)		(8,667)		(12)		3,471		3		36		(22)		(5,160)
Benefit (provision) for income taxes	—		477		—		(963)		(1)		(2)		(1)		(488)
Gain (loss) on disposal, net of taxes	$	(13)	$	(8,190)	$	(12)	$	2,508	$	2	$	35	$	(23)	$	(5,648)
Earnings (loss) from discontinued operations,   net of taxes	$	(27)	$	(8,011)	$	(6)	$	2,544	$	(173)	$	255	$	(206)	$	(5,212)

(a) Earnings (loss) of discontinued operations attributable to the Company after income taxes was $(26) million and $61 million for the three months ended September 30, 2020 and 2019, respectively. Earnings (loss) of discontinued operations attributable to the Company after income taxes was $(181) million and $378 million for the nine months ended September 30, 2020 and 2019, respectively.

ASSETS AND LIABILITIES OF DISCONTINUED OPERATIONS (In millions)	September 30, 2020		December 31, 2019
Cash, cash equivalents and restricted cash	$	508	$	638
Investment securities	—		202
Current receivables	61		81
Financing receivables held for sale (Polish mortgage portfolio)	2,469		2,485
Property, plant, and equipment	107		123
Deferred income taxes	226		264
All other assets	217		317
Assets of discontinued operations(a)	$	3,587	$	4,109
Accounts payable & Progress collections and deferred income	$	15	$	40
All other liabilities(b)	273		163
Liabilities of discontinued operations(a)	$	288	$	203

(a) Assets and liabilities of discontinued operations included $3,434 million and $129 million related to GE Capital as of September 30, 2020, respectively.

(b) Included within All other liabilities of discontinued operations at September 30, 2020 and December 31, 2019 are intercompany tax receivables in the amount of $734 million and $839 million, respectively, primarily related to the financial services businesses that were part of the GE Capital Exit Plan, which are eliminated upon consolidation.