BUSINESSES HELD FOR SALE AND DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

Financial Information for Discontinued Operations

RESULTS OF DISCONTINUED OPERATIONS For the year ended December 31, 2020	Baker Hughes		Transportation and Other		GE Capital		Total
Sales of goods and services	$	—	$	—	$	—	$	—
GE Capital revenues and other income (loss)	—		—		55		55
Cost of goods and services sold	—		—		—		—
Other income, costs and expenses	2		—		(252)		(249)
			—
Earnings (loss) of discontinued operations before income taxes	2		—		(197)		(195)
Benefit (provision) for income taxes	(13)		9		105		101
Earnings (loss) of discontinued operations, net of taxes(a)	(10)		9		(92)		(93)
Gain (loss) on disposal before income taxes	(23)		(12)		3		(31)
Benefit (provision) for income taxes	—		—		(1)		(1)
Gain (loss) on disposal, net of taxes	(23)		(12)		2		(32)
Earnings (loss) from discontinued operations, net of taxes	$	(33)	$	(3)	$	(90)	$	(125)

For the year ended December 31, 2019
Sales of goods and services	$	16,047	$	550	$	—	$	16,598
GE Capital revenues and other income (loss)	—		—		33		33
Cost of goods and services sold	(13,317)		(478)		—		(13,795)
Other income, costs and expenses	(2,390)		(19)		(240)		(2,650)
Earnings (loss) of discontinued operations before income taxes	340		53		(207)		186
Benefit (provision) for income taxes	(176)		(15)		344		153
Earnings (loss) of discontinued operations, net of taxes(a)	165		39		136		339
Gain (loss) on disposal before income taxes	(8,715)		3,471		61		(5,183)
Benefit (provision) for income taxes	477		(963)		(5)		(491)
Gain (loss) on disposal, net of taxes	(8,238)		2,508		56		(5,675)
Earnings (loss) from discontinued operations, net of taxes	$	(8,074)	$	2,547	$	192	$	(5,335)

For the year ended December 31, 2018
Sales of goods and services	$	22,859	$	3,898	$	—	$	26,757
GE Capital revenues and other income (loss)	—		—		(1,347)		(1,347)
Cost of goods and services sold	(19,198)		(2,809)		—		(22,007)
Other income, costs and expenses	(3,346)		(607)		(407)		(4,360)
Earnings (loss) of discontinued operations before income taxes	315		482		(1,755)		(958)
Benefit (provision) for income taxes	(347)		(143)		82		(408)
Earnings (loss) of discontinued operations, net of taxes(a)	(33)		339		(1,673)		(1,366)
Gain (loss) on disposal before income taxes	—		—		4		4
Benefit (provision) for income taxes	—		—		(1)		(1)
Gain (loss) on disposal, net of taxes	—		—		3		3
Earnings (loss) from discontinued operations, net of taxes	$	(33)	$	339	$	(1,670)	$	(1,363)

(a) Earnings (loss) of discontinued operations attributable to the Company after income taxes was $(94) million, $279 million and $(1,367) million for the years ended December 31, 2020, 2019 and 2018, respectively.

December 31	2020		2019
Cash, cash equivalents and restricted cash	$	524	$	638
Investment securities	—		202
Current receivables	61		81
Financing receivables held for sale (Polish mortgage portfolio)	2,437		2,485
Property, plant and equipment - net	109		123
Deferred income taxes	199		264
All other assets	202		317
Assets of discontinued operations(a)	$	3,532	$	4,109
Accounts payable & Progress collections and deferred income	$	20	$	40
All other liabilities	180		163
Liabilities of discontinued operations(a)(b)	$	200	$	203

(a) Assets and liabilities of discontinued operations included $3,388 million and $61 million related to GE Capital as of December 31, 2020.

(b) Included within All other liabilities of discontinued operations at December 31, 2020 and December 31, 2019 are intercompany tax receivables in the amount of $704 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.