-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, OLTIeE5k4Rl2Vx4wTP103JE+yzoq4AsDf+7ny73zu8AJq2B4EvLxuBZi6mk0T0JD xhIwEz6TOTmF5f/sGebkXg== 0000797463-10-000030.txt : 20101015 0000797463-10-000030.hdr.sgml : 20101015 20101015104640 ACCESSION NUMBER: 0000797463-10-000030 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20101015 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20101015 DATE AS OF CHANGE: 20101015 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GENERAL ELECTRIC CAPITAL CORP CENTRAL INDEX KEY: 0000040554 STANDARD INDUSTRIAL CLASSIFICATION: PERSONAL CREDIT INSTITUTIONS [6141] IRS NUMBER: 131500700 STATE OF INCORPORATION: CT FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-06461 FILM NUMBER: 101124924 BUSINESS ADDRESS: STREET 1: 3135 EASTON TURNPIKE CITY: FAIRFIELD STATE: CT ZIP: 06828-0001 BUSINESS PHONE: 203-373-2211 MAIL ADDRESS: STREET 1: 3135 EASTON TURNPIKE CITY: FAIRFIELD STATE: CT ZIP: 06828-0001 FORMER COMPANY: FORMER CONFORMED NAME: GENERAL ELECTRIC CREDIT CORP DATE OF NAME CHANGE: 19871216 8-K 1 gecc8kpressreleaseq32010.htm GECC 8-K PRESS RELEASE Q3 2010 gecc8kpressreleaseq32010.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
 


Date of Report (Date of earliest event reported) October 15, 2010
 
 
General Electric Capital Corporation
 
 
(Exact name of registrant as specified in its charter)
 
 
Delaware
 
1-6461
 
13-1500700
(State or other jurisdiction
of incorporation)
 
(Commission
File Number)
 
(IRS Employer
Identification No.)
         
901 Main Avenue, Norwalk, Connecticut
     
06851-1168
(Address of principal executive offices)
     
(Zip Code)
         
Registrant’s telephone number, including area code   (203) 840-6300
 
     
(Former name or former address, if changed since last report.)

 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
 
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))



 
 
(1)

 

Item 8.01 Other Events.
 
On October 15, 2010, our ultimate parent, General Electric Company, issued a press release setting forth GE’s third-quarter earnings. Attached hereto as Exhibit 99 and hereby incorporated by reference is a schedule of selected financial information related to the results of operation for the three and nine months ended September 30, 2010 and financial position at September 30, 2010 of General Electric Capital Corporation.

Item 9.01 Financial Statements and Exhibits.
 
(d) Exhibits
 
The following exhibit is being filed as part of this report:
 
Exhibit Description
 
99 Selected financial information of General Electric Capital Corporation

 

 


 
 
(2)

 

SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

   
General Electric Capital Corporation
 
   
(Registrant)
 
       
Date: October 15, 2010
    /s/Jamie S. Miller  
   
Jamie S. Miller
 
   
Senior Vice President and Controller
 


 
 
(3)

 

EX-99 2 exhibit99.htm EXHIBIT 99 exhibit99.htm
Exhibit 99
 
General Electric Capital Corporation
 
Condensed Statement of Earnings
 


 
Three months ended September 30
   
Nine months ended September 30
 
(In millions, Unaudited)
 
2010
   
2009
 
V
%
   
2010
   
2009
 
V
%
                                   
Revenues
                                 
Revenues from services
$
11,576 
 
$
11,792 
       
$
 35,755 
 
$
37,825 
     
Sales of goods
 
40 
   
213 
         
 489 
   
691 
     
   Total revenues
 
11,616 
   
12,005 
 
 (3)%
     
 36,244 
   
38,516 
 
 (6)%
 
                                   
Costs and expenses
                                 
Costs of sales, operating and administrative expenses
 
5,575 
   
5,922 
         
 17,087 
   
17,833 
     
Interest
 
3,782 
   
4,135 
         
 11,574 
   
13,723 
     
Investment contracts, insurance losses and insurance
                                 
   annuity benefits
 
36 
   
47 
         
 109 
   
165 
     
Provision for losses on financing receivables
 
1,696 
   
2,868 
         
 5,968 
   
8,021 
     
   Total costs and expenses
 
11,089 
   
12,972 
 
 (15)%
     
 34,738 
   
39,742 
 
 (13)%
 
                                   
Earnings (loss) from continuing operations before
                                 
   income taxes
 
527 
   
(967)
 
F
     
 1,506 
   
(1,226)
 
F
 
Benefit for income taxes
 
367 
   
1,116 
         
 815 
   
2,898 
     
Earnings from continuing operations
 
894 
   
149 
 
F
     
 2,321 
   
1,672 
 
39%
 
                                   
Earnings (loss) from discontinued operations,
                                 
   net of taxes
 
(1,104)
   
84 
         
 (1,678)
   
(113)
     
                                   
Net earnings (loss)
 
(210)
   
233 
 
U
     
 643 
   
1,559 
 
 (59)%
 
                                   
Less net earnings attributable to noncontrolling interests
 
23 
   
         
 13 
   
71 
     
Net earnings (loss) attributable to GECC
$
(233)
 
$
225 
 
U
   
$
 630 
 
$
1,488 
 
 (58)%
 
                                   
                                   
Amounts attributable to GECC:
                                 
Earnings from continuing operations
$
871 
 
$
141 
 
F
   
$
 2,308 
 
$
1,601 
 
44%
 
Earnings (loss) from discontinued operations, net of taxes
 
(1,104)
   
84 
         
 (1,678)
   
(113)
     
Net earnings (loss) attributable to GECC
$
(233)
 
$
225 
 
U
   
$
 630 
 
$
1,488 
 
 (58)%
 

 
(1)

 


General Electric Capital Corporation
 
Summary of Operating Segments (unaudited)
 


 
Three months ended September 30
   
Nine months ended September 30
 
(Dollars in millions)
 
2010
   
2009
 
V
%
   
2010
   
2009
 
V
%
                                   
Revenues
                                 
   Commercial Lending and Leasing (CLL)(a)
$
4,551 
 
$
4,725 
 
 (4)%
   
$
 13,651 
 
$
15,711 
 
 (13)%
 
   Consumer(a)
 
4,612 
   
4,848 
 
 (5)%
     
 14,408 
   
14,411 
 
 
   Real Estate
 
953 
   
981 
 
 (3)%
     
 2,888 
   
2,970 
 
 (3)%
 
   Energy Financial Services
 
291 
   
483 
 
 (40)%
     
 1,677 
   
1,617 
 
4%
 
   GE Capital Aviation Services (GECAS)(a)
 
1,321 
   
1,125 
 
17%
     
 3,819 
   
3,391 
 
13%
 
      Total segment revenues
 
11,728 
   
12,162 
 
 (4)%
     
 36,443 
   
38,100 
 
 (4)%
 
      GECC corporate items and eliminations
 
 (112)
   
 (157)
 
29%
     
 (199)
   
 416 
 
U
 
Total Revenues
$
11,616 
 
$
12,005 
 
 (3)%
   
$
 36,244 
 
$
38,516 
 
 (6)%
 
                                   
Segment profit
                                 
   CLL(a)
$
443 
 
$
130 
 
F
   
$
 987 
 
$
611 
 
62%
 
   Consumer(a)
 
826 
   
443 
 
86%
     
 2,154 
   
1,432 
 
50%
 
   Real Estate
 
(405)
   
(538)
 
25%
     
 (1,332)
   
(948)
 
 (41)%
 
   Energy Financial Services
 
55 
   
41 
 
34%
     
 334 
   
181 
 
85%
 
   GECAS(a)
 
158 
   
187 
 
 (16)%
     
 763 
   
733 
 
4%
 
      Total segment profit
 
1,077 
   
263 
 
F
     
 2,906 
   
2,009 
 
45%
 
      GECC corporate items and eliminations
 
(206)
   
(122)
 
 (69)%
     
 (598)
   
(408)
 
 (47)%
 
Earnings from continuing operations
                                 
   attributable to GECC
 
871 
   
141 
 
F
     
 2,308 
   
1,601 
 
44%
 
Earnings (loss) from discontinued operations,
                                 
   net of taxes, attributable to GECC
 
(1,104)
   
84 
 
U
     
 (1,678)
   
(113)
 
U
 
Net earnings (loss) attributable to GECC
$
(233)
 
$
225 
 
U
   
$
 630 
 
$
1,488 
 
 (58)%
 
                                   
                                   
(a)
Effective January 1, 2010, we transferred the Transportation Financial Services business from GECAS to CLL and the Consumer business in Italy from Consumer to CLL. Prior-period amounts were reclassified to conform to the current-period’s presentation.
 

 
(2)

 


General Electric Capital Corporation.
 
Condensed Statement of Financial Position
 


 
September 30,
 
December 31,
(Dollars in billions)
2010
 
2009
 
(Unaudited)
     
Assets
         
   Cash & marketable securities
$
 83.9 
 
$
 91.2 
   Inventories
 
 0.1 
   
 0.1 
   Financing receivables - net
 
 331.3 
   
 336.9 
   Property, plant & equipment - net
 
 53.7 
   
 56.7 
   Goodwill & intangible assets
 
 30.1 
   
 32.0 
   Other assets
 
 94.9 
   
 104.2 
   Assets of businesses held for sale
 
 0.8 
   
 0.1 
   Assets of discontinued operations
 
 1.3 
   
 1.5 
           
Total assets
$
 596.1 
 
$
 622.7 
           
           
Liabilities and equity
         
   Borrowings and bank deposits
$
 481.4 
 
$
 497.5 
   Investment contracts, insurance liabilities and insurance annuity benefits
 
 6.7 
   
 8.7 
   Other liabilities
 
 34.0 
   
 39.6 
   Liabilities of businesses held for sale
 
 0.4 
   
 0.1 
   Liabilities of discontinued operations
 
 2.0 
   
 0.9 
   GECC shareowner's equity
 
 70.5 
   
 73.7 
   Noncontrolling interests
 
 1.1 
   
 2.2 
           
Total liabilities and equity
$
 596.1 
 
$
 622.7 


 
(3)

 

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