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Goodwill and Other Intangibles Assets

3 Months Ended

Mar. 31, 2012

Goodwill and Other Intangible Assets [Abstract]

5. GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill and other intangible assets – net, consisted of the following.

	At
	March 31,		December 31,
(In millions)	2012		2011

Goodwill	$	27,326	$	27,230

Other intangible assets
Intangible assets subject to amortization	$	1,468	$	1,546

Changes in goodwill balances follow.

					Dispositions,
	Balance at				currency		Balance at
	January 1,				exchange		March 31,
(In millions)	2012		Acquisitions		and other		2012

CLL	$	13,745	$	0	$	(43)	$	13,702
Consumer		10,775		0		143		10,918
Real Estate		1,001		0		(4)		997
Energy Financial Services		1,562		0		0		1,562
GECAS		147		0		0		147
Total	$	27,230	$	0	$	96	$	27,326

Goodwill balances increased $96 million during the three months ended March 31, 2012, primarily as a result of the weaker U.S. dollar ($107 million). Our reporting units and related goodwill balances are CLL ($13,702 million), Consumer ($10,918 million), Real Estate ($997 million), Energy Financial Services ($1,562 million) and GECAS ($147 million) at March 31, 2012.

Intangible Assets Subject to Amortization

	At
	March 31, 2012						December 31, 2011
	Gross						Gross
	carrying		Accumulated				carrying		Accumulated
(In millions)	amount		amortization		Net		amount		amortization		Net


Customer-related	$	1,167	$	(714)	$	453	$	1,186	$	(697)	$	489
Patents, licenses and		242		(203)		39		250		(208)		42
trademarks
Capitalized software		2,099		(1,657)		442		2,048		(1,597)		451
Lease valuations		1,470		(971)		499		1,470		(944)		526
Present value of		498		(498)		0		491		(491)		0
future profits (a)
All other		311		(276)		35		327		(289)		38
Total	$	5,787	$	(4,319)	$	1,468	$	5,772	$	(4,226)	$	1,546

Balances at March 31, 2012 and December 31, 2011, reflect adjustments of $385 million and $391 million, respectively, to the present value of future profits in our run-off insurance operation to reflect the effects that would have been recognized had the related unrealized investment securities holding gains and losses actually been realized in accordance with ASC 320-10-S99-2.

Amortization related to intangible assets subject to amortization was $110 million and $146 million in the three months ended March 31, 2012 and 2011, respectively, and is recorded in the caption “Operating and administrative” on the Statement of Earnings.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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