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GECC Financing Receivables, Allowance For Losses On Financing Receivables and Supplemental Information On Credit Quality (Tables)
 3 Months Ended
Mar. 31, 2014
Loans and Leases Receivable Disclosure [Abstract]  
GECC financing receivables
        
          
(In millions)      March 31, 2014 December 31, 2013
            
Loans, net of deferred income(a)      $ 226,135 $ 231,268
Investment in financing leases, net of deferred income      26,251   26,939
         252,386   258,207
Allowance for losses        (5,144)   (5,178)
Financing receivables – net(b)      $ 247,242 $ 253,029
            

  • Deferred income was $1,714 million and $2,013 million at March 31, 2014 and December 31, 2013, respectively.
  • Financing receivables at March 31, 2014 and December 31, 2013 included $532 million and $544 million, respectively, relating to loans that had been acquired in a transfer but have been subject to credit deterioration since origination.

 
Financing Receivables
        
          
(In millions)      March 31, 2014 December 31, 2013
            
Commercial           
CLL           
Americas      $ 68,367 $ 69,036
International        46,208   47,431
Total CLL        114,575   116,467
Energy Financial Services        2,753   3,107
GE Capital Aviation Services (GECAS)        8,851   9,377
Other        139   318
Total Commercial        126,318   129,269
            
Real Estate        20,236   19,899
            
Consumer           
Non-U.S. residential mortgages        30,355   30,501
Non-U.S. installment and revolving credit        13,715   13,677
U.S. installment and revolving credit        52,887   55,854
Non-U.S. auto        1,957   2,054
Other        6,918   6,953
Total Consumer        105,832   109,039
Total financing receivables        252,386   258,207
Allowance for losses        (5,144)   (5,178)
Total financing receivables – net      $ 247,242 $ 253,029
            
Schedule Of Allowance For Losses
Allowance for Losses on Financing Receivables
                  
    Provision         
 Balance at charged to    Gross   Balance at
(In millions)January 1 operations Other(a)write-offs(b)Recoveries(b)March 31
2014                 
Commercial                 
CLL                 
Americas$ 473 $ 84 $ (1) $ (156) $ 19 $ 419
International  505   18   2   (100)   24   449
Total CLL  978   102   1   (256)   43   868
Energy Financial Services  8   9   -   (2)   1   16
GECAS  17   8   -   -   -   25
Other  2   -   (2)   -   -   -
Total Commercial  1,005   119   (1)   (258)   44   909
                  
Real Estate  192   (15)   2   (6)   2   175
                  
Consumer                 
Non-U.S. residential mortgages  358   10   5   (46)   9   336
Non-U.S. installment and                 
revolving credit  594   71   8   (189)   104   588
U.S. installment and                 
revolving credit  2,823   752   18   (785)   139   2,947
Non-U.S. auto  56   12   2   (23)   14   61
Other  150   21   (17)   (40)   14   128
Total Consumer  3,981   866   16   (1,083)   280   4,060
                  
Total$ 5,178 $ 970 $ 17 $ (1,347) $ 326 $ 5,144

                  
2013                 
Commercial                 
CLL                 
Americas$ 496 $ 71 $ (1) $ (103) $ 30 $ 493
International  525   94   (10)   (150)   24   483
Total CLL  1,021   165   (11)   (253)   54   976
Energy Financial Services  9   (1)   -   -   -   8
GECAS  8   (1)   -   -   -   7
Other  3   -   -   (1)   -   2
Total Commercial  1,041   163   (11)   (254)   54   993
                  
Real Estate  320   (20)   (6)   (29)   -   265
                  
Consumer                 
                  
Non-U.S. residential mortgages  480   56   (17)   (55)   12   476
Non-U.S. installment and                 
revolving credit  582   180   (14)   (231)   140   657
U.S. installment and                 
revolving credit  2,282   1,014   (50)   (744)   163   2,665
Non-U.S. auto  67   17   (5)   (30)   17   66
Other  172   47   7   (52)   7   181
Total Consumer  3,583   1,314   (79)   (1,112)   339   4,045
                  
Total$ 4,944 $ 1,457 $ (96) $ (1,395) $ 393 $ 5,303
                  

  • Other primarily includes the effects of currency exchange.
  • Net write-offs (gross write-offs less recoveries) in certain portfolios may exceed the beginning allowance for losses as a result of losses that are incurred subsequent to the beginning of the fiscal year due to information becoming available during the current year, which may identify further deterioration on existing financing receivables.
Nonaccrual Financing Receivables
  March 31, 2014  December 31, 2013 
  Over 30 days  Over 90 days     Over 30 days  Over 90 days    
  past due  past due Nonaccrual  past due  past due Nonaccrual 
                   
Commercial                  
CLL                  
   Americas$ 713 $ 390 $ 1,239 $ 755 $ 359 $ 1,275 
International  1,743   946   1,415   1,490   820   1,459 
Total CLL  2,456   1,336   2,654   2,245   1,179   2,734 
Energy Financial Services  -   -   43   -   -   4 
GECAS  1   -   275   -   -   - 
Other  -   -   -   -   -   6 
                   
Total Commercial  2,457   1,336   2,972(a)  2,245   1,179   2,744(a)
                   
Real Estate  263   207   2,383(b)  247   212   2,551(b)
                   
Consumer                  
Non-U.S. residential mortgages  3,130   2,082   2,140   3,406   2,104   2,161 
Non-U.S. installment and revolving credit  533   152   73   512   146   88 
U.S. installment and revolving credit  2,169   1,028   2   2,442   1,105   2 
Non-U.S. auto  93   12   16   89   13   18 
Other  165   89   335   172   99   351 
Total Consumer  6,090   3,363(c)  2,566(d)  6,621   3,467(c)  2,620(d)
Total$ 8,810 $ 4,906 $ 7,921 $ 9,113 $ 4,858 $ 7,915 
Total as a percent of financing receivables  3.5%  1.9%  3.1%  3.5%  1.9%  3.1%
                   

  • Includes $1,596 million and $1,397 million at March 31, 2014 and December 31, 2013, respectively, that are currently paying in accordance with their contractual terms.
  • Includes $2,127 million and $2,308 million at March 31, 2014 and December 31, 2013, respectively, that are currently paying in accordance with their contractual terms.
  • Includes $1,150 million and $1,197 million of Consumer loans at March 31, 2014 and December 31, 2013, respectively, that are over 90 days past due and continue to accrue interest until the accounts are written off in the period that the account becomes 180 days past due.
  • Includes $311 million and $323 million at March 31, 2014 and December 31, 2013, respectively, that are currently paying in accordance with their contractual terms.
Impaired Loans
 With no specific allowance With a specific allowance
 Recorded Unpaid Average Recorded Unpaid   Average
 investment principal investment investment principal Associated investment
(In millions)in loans balance in loans in loans balance allowance in loans
                     
March 31, 2014                    
Commercial                    
CLL                    
Americas$ 1,792 $ 2,385 $ 1,731 $ 257 $ 354 $ 49 $ 337
International(a)  1,214   2,072   1,159   602   918   169   647
Total CLL  3,006   4,457   2,890   859   1,272   218   984
Energy Financial Services  18   18   9   26   26   3   15
GECAS  -   -   -   65   65   8   32
Other  -   -   1   -   -   -   2
Total Commercial(b)  3,024   4,475   2,900   950   1,363   229   1,033
                     
Real Estate(c)  2,925   3,448   2,770   737   871   53   991
                     
Consumer(d)  132   169   120   2,836   2,854   560   2,857
Total$ 6,081 $ 8,092 $ 5,790 $ 4,523 $ 5,088 $ 842 $ 4,881
                     
December 31, 2013                    
Commercial                    
CLL                    
Americas$ 1,670 $ 2,187 $ 2,154 $ 417 $ 505 $ 96 $ 509
International(a)  1,104   1,938   1,136   691   1,046   231   629
Total CLL  2,774   4,125   3,290   1,108   1,551   327   1,138
Energy Financial Services  -   -   -   4   4   1   2
GECAS  -   -   -   -   -   -   1
Other  2   3   9   4   4   -   5
Total Commercial(b)  2,776   4,128   3,299   1,116   1,559   328   1,146
                     
Real Estate(c)  2,615   3,036   3,058   1,245   1,507   74   1,688
                     
Consumer(d)  109   153   98   2,879   2,948   567   3,058
Total$ 5,500 $ 7,317 $ 6,455 $ 5,240 $ 6,014 $ 969 $ 5,892
                     

  • Write-offs to net realizable value are recognized against the allowance for losses primarily in the reporting period in which management has deemed all or a portion of the financing receivable to be uncollectible, but not later than 360 days after initial recognition of a specific reserve for a collateral dependent loan. However, in accordance with regulatory standards that are applicable in Italy, commercial loans are considered uncollectible when there is demonstrable evidence of the debtor's insolvency, which may result in write-offs occurring beyond 360 days after initial recognition of a specific reserve.
  • We recognized $57 million, $218 million and $53 million of interest income, including none, $60 million and $16 million on a cash basis, in the three months ended March 31, 2014, the year ended December 31, 2013 and the three months ended March 31, 2013, respectively, principally in our CLL Americas business. The total average investment in impaired loans for the three months ended March 31, 2014 and the year ended December 31, 2013 was $3,933 million and $4,445 million, respectively.
  • We recognized $19 million, $187 million and $57 million of interest income, including none, $135 million and $44 million on a cash basis, in the three months ended March 31, 2014, the year ended December 31, 2013 and the three months ended March 31, 2013, respectively. The total average investment in impaired loans for the three months ended March 31, 2014 and the year ended December 31, 2013 was $3,761 million and $4,746 million, respectively.
  • We recognized $46 million, $221 million and $57 million of interest income, including an insignificant amount, $3 million and $1 million on a cash basis, in the three months ended March 31, 2014, the year ended December 31, 2013 and the three months ended March 31, 2013, respectively, principally in our Consumer-U.S. installment and revolving credit portfolios. The total average investment in impaired loans for the three months ended March 31, 2014 and the year ended December 31, 2013 was $2,977 million and $3,156 million, respectively.

(In millions)Non-impaired financing receivables General reserves Impaired loans Specific reserves
            
March 31, 2014           
            
Commercial$ 122,344 $ 680 $ 3,974 $ 229
Real Estate  16,574   122   3,662   53
Consumer  102,864   3,500   2,968   560
Total$ 241,782 $ 4,302 $ 10,604 $ 842
            
December 31, 2013           
            
Commercial$125,377 $677 $3,892 $328
Real Estate 16,039  118  3,860  74
Consumer 106,051  3,414  2,988  567
Total$ 247,467 $ 4,209 $ 10,740 $ 969
            
Financing Receivables And Allowance For Losses
Commercial Financing Receivables Risk by Category       
            
 Secured
(In millions)A B C Total
            
March 31, 2014           
CLL           
Americas$ 65,126 $ 1,348 $ 1,538 $ 68,012
International  43,537   565   1,439   45,541
Total CLL  108,663   1,913   2,977   113,553
Energy Financial Services  2,616   62   44   2,722
GECAS  8,582   55   214   8,851
Other  139   -   -   139
Total$ 120,000 $ 2,030 $ 3,235 $ 125,265
            
December 31, 2013           
CLL           
Americas$ 65,545 $ 1,587 $ 1,554 $ 68,686
International  44,930   619   1,237   46,786
Total CLL  110,475   2,206   2,791   115,472
Energy Financial Services  2,969   9   -   2,978
GECAS  9,175   50   152   9,377
Other  318   -   -   318
Total$ 122,937 $ 2,265 $ 2,943 $ 128,145
            
Commercial Real Estate Portfolio Segment [Member]
  
Supplemental Information About Credit Quality Of Financing Receivables And Allowance For Losses On Financing Receivables  
Credit Quality Indicators
 Loan-to-value ratio
 March 31, 2014 December 31, 2013
 Less than 80% to Greater than Less than 80% to Greater than
(In millions)80% 95% 95% 80% 95% 95%
                  
Debt$ 15,974 $ 1,512 $ 1,754 $ 15,576 $ 1,300 $ 2,111
                  
Consumer Portfolio Segment [Member]
  
Supplemental Information About Credit Quality Of Financing Receivables And Allowance For Losses On Financing Receivables  
Credit Quality Indicators
 Loan-to-value ratio
 March 31, 2014  December 31, 2013
 80% or Greater than Greater than 80% or Greater than Greater than
(In millions)less 80% to 90% 90% less 80% to 90% 90%
                  
Non-U.S. residential mortgages$ 17,148 $ 5,098 $ 8,109 $ 17,224 $ 5,130 $ 8,147
                  

 Internal ratings translated to approximate credit bureau equivalent score
 March 31, 2014 December 31, 2013
 671 or 626 to 625 or 671 or 626 to 625 or
(In millions)higher 670 less higher 670 less
                  
Non-U.S. installment and                 
   revolving credit$ 8,033 $ 3,117 $ 2,565 $ 8,310 $ 2,855 $ 2,512
U.S. installment and                  
   revolving credit  34,388   10,817   7,682   36,723   11,101   8,030
Non-U.S. auto  1,338   344   275   1,395   373   286