Shareowners' Equity

6 Months Ended

Jun. 30, 2013

Stockholders' Equity Note [Abstract]

Shareowners' Equity

8. SHAREOWNERS' EQUITY

Accumulated Other Comprehensive Income (Loss)
	Three months ended June 30,				Six months ended June 30,
(In millions)		2013		2012		2013		2012
Investment securities
Beginning balance	$	738	$	298	$	673	$	(33)
Other comprehensive income (loss) (OCI) before reclassifications –
net of deferred taxes of $(330), $86, $(364) and $262		(605)		167		(661)		473
Reclassifications from OCI – net of deferred taxes
of $13, $4, $107 and $10		3		9		125		35
Other comprehensive income (loss)(a)		(602)		176		(536)		508
Less: OCI attributable to noncontrolling interests		(2)		(2)		(1)		(1)
Balance at June 30	$	138	$	476	$	138	$	476
Currency translation adjustments (CTA)
Beginning balance	$	(119)	$	(274)	$	(131)	$	(399)
OCI before reclassifications – net of deferred taxes of
$(120), $57, $(311) and $12		112		(408)		103		(271)
Reclassifications from OCI – net of deferred taxes
of $112, $0, $79 and $(5)		(113)		0		(96)		(3)
Other comprehensive income (loss)(a)		(1)		(408)		7		(274)
Less: OCI attributable to noncontrolling interests		(18)		(9)		(22)		0
Balance at June 30	$	(102)	$	(673)	$	(102)	$	(673)
Cash flow hedges
Beginning balance	$	(654)	$	(1,029)	$	(746)	$	(1,101)
OCI before reclassifications – net of deferred taxes of
$28, $7, $84 and $34		252		(336)		155		178
Reclassifications from OCI – net of deferred taxes
of $(14), $13, $(56) and $(22)		(58)		376		131		(66)
Other comprehensive income (loss)(a)		194		40		286		112
Less: OCI attributable to noncontrolling interests		1		0		1		0
Balance at June 30	$	(461)	$	(989)	$	(461)	$	(989)
Benefit plans
Beginning balance	$	(723)	$	(587)	$	(736)	$	(563)
Net actuarial gain (loss) – net of deferred taxes
of $0, $(4), $18 and $(17)		0		10		2		(21)
Net actuarial gain (loss) amortization – net of deferred taxes
of $4, $2, $7 and $5		9		9		20		16
Other comprehensive income (loss)(a)		9		19		22		(5)
Less: OCI attributable to noncontrolling interests		0		0		0		0
Balance at June 30	$	(714)	$	(568)	$	(714)	$	(568)
Accumulated other comprehensive income (loss) at June 30	$	(1,139)	$	(1,754)	$	(1,139)	$	(1,754)

• Total other comprehensive income (loss) was $(400) million and $(173) million for the three months ended June 30, 2013 and 2012, respectively,and $(221) million and $341million for the six months ended June 30, 2013 and 2012, respectively.

Reclassification out of AOCI

Components of AOCI	Three months ended June 30,				Six months ended June 30,				Statement of Earnings Caption
	2013		2012		2013		2012
Available-for-sale securities
Realized gains (losses) on sale/impairment
of securities	$	(16)	$	(13)	$	(232)	$	(45)	GECC revenues from services
		13		4		107		10	Tax (expense) or benefit
	$	(3)	$	(9)	$	(125)	$	(35)	Net of tax
Currency translation adjustments
Gains (losses) on dispositions	$	1	$	0	$	17	$	8	Costs and expenses
		112		0		79		(5)	Tax (expense) or benefit
	$	113	$	0	$	96	$	3	Net of tax
Cash flow hedges
Gains (losses) on interest rate derivatives	$	(92)	$	(124)	$	(194)	$	(264)	Interest
Foreign exchange contracts		164		(265)		119		352	(a)
		72		(389)		(75)		88	Total before tax
		(14)		13		(56)		(22)	Tax (expense) or benefit
	$	58	$	(376)	$	(131)	$	66	Net of tax
Benefit plan items
Amortization of actuarial gains (losses)	$	(13)	$	(11)	$	(27)	$	(21)	Total before tax(b)
		4		2		7		5	Tax (expense) or benefit
	$	(9)	$	(9)	$	(20)	$	(16)	Net of tax
Total reclassification adjustments	$	159	$	(394)	$	(180)	$	18	Net of tax

• Includes $170 million and $(243)million in revenue from services and $(6) million and $(22)million in interest for the three months ended June 30, 2013 and 2012, respectively, and $137 million and $405 million in revenue from services and$(18) million and $(53) millionin interest for the six months ended June 30, 2013 and 2012, respectively.
• Amortization of actuarial gains and losses out of AOCI are included in the computation of net periodic pension costs.

Noncontrolling Interests

A summary of changes to noncontrolling interests follows.

	Three months ended June 30,				Six months ended June 30,
(In millions)		2013		2012		2013		2012
Beginning balance	$	587	$	767	$	707	$	690
Net earnings		17		14		28		26
Dividends		(25)		(1)		(41)		(5)
Dispositions		0		0		(104)		0
AOCI and other		(29)		(21)		(40)		48
Ending balance	$	550	$	759	$	550	$	759

During the second quarter of 2013, we issued 10,000shares of non-cumulative perpetual preferred stock with a $0.01 par value for proceeds of $990 million. The preferred shares bear an initial fixed interest rate of 5.25% through June 15, 2023, bear a floating rate equal to three-month LIBOR plus 2.967% thereafter and are callable on June 15, 2023. Dividends on thepreferred stock are payable semi-annually, in June and December, with the first payment on this issuance beginning in December 2013.

During 2012, we issued 40,000 shares of non-cumulative perpetual preferred stock with a $0.01 par value for proceeds of $3,960 million. Of these shares,22,500bear an initial fixed interest rate of 7.125% through June 12, 2022,bear a floating rate equal to three-month LIBOR plus 5.296% thereafter and are callable on June 15, 2022 and 17,500 shares bear an initial fixed interest rate of 6.25% through December 15, 2022, bear a floating rate equal to three-month LIBOR plus 4.704% thereafter and are callable on December 15, 2022.Dividends on the preferred stock are payable semi-annually, in June and December,with the first payment on these issuances made in December 2012.

We paid dividends of $447 million and $475 million and special dividends of $1,500 million and $2,525 million to GE in the second quarters of 2013 and 2012, respectively.