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Borrowings and Bank Deposits
 6 Months Ended
Jun. 30, 2013
Debt Disclosure [Abstract]  
Borrowings and Bank Deposits

6. BORROWINGS AND BANK DEPOSIT

(In millions)      June 30, December 31,
       2013 2012
Short-term borrowings           
Commercial paper           
  U.S.      $29,664 $33,686
  Non-U.S.       6,375  9,370
Current portion of long-term borrowings(a)(b)        31,828  44,264
GE Interest Plus notes(c)       8,421  8,189
Other(b)       482  431
Total short-term borrowings      $76,770 $95,940
            
Long-term borrowings           
Senior unsecured notes(a)      $194,132 $199,646
Subordinated notes(d)       4,789  4,965
Subordinated debentures(e)(f)       7,297  7,286
Other(b)       13,789  12,879
Total long-term borrowings      $220,007 $224,776
            
Non-recourse borrowings of consolidated securitization entities(g)    $30,250 $30,123
            
Bank deposits(h)      $48,597 $46,461
            
Total borrowings and bank deposits      $375,624 $397,300
            
            

  • Included in total long-term borrowings were $526 million and $604 million of obligations to holders of GICs at June 30, 2013 and December 31, 2012, respectively. These obligations included conditions under which certain GIC holders could require immediate repayment of their investment should the long-term credit ratings of GECC fall below AA-/Aa3. The remaining outstanding GICs will continue to be subject to their scheduled maturities and individual terms, which may include provisions permitting redemption upon a downgrade of one or more of GECC's ratings, among other things.
  • Included $9,669 million and $9,757 million of funding secured by real estate, aircraft and other collateral at June 30, 2013 and December 31, 2012, respectively, of which $3,595 million and $3,294 million is non-recourse to GECC at June 30, 2013 and December 31, 2012, respectively.
  • Entirely variable denomination floating-rate demand notes.
  • Included $300 million of subordinated notes guaranteed by GE at both June 30, 2013 and December 31, 2012.
  • Subordinated debentures receive rating agency equity credit and were hedged at issuance to the U.S. dollar equivalent of $7,725 million.
  • Includes $2,913 million of subordinated debentures, which constitute the sole assets of wholly-owned trusts who have issued trust preferred securities. Obligations associated with these trusts are unconditionally guaranteed by GECC.
  • Included at June 30, 2013 and December 31, 2012, were $7,078 million and $7,707 million of current portion of long-term borrowings, respectively, and $23,172 million and $22,416 million of long-term borrowings, respectively. See Note 13.
  • Included $16,013 million and $16,157 million of deposits in non-U.S. banks at June 30, 2013 and December 31, 2012, respectively, and $16,259 million and $17,291 million of certificates of deposits with maturities greater than one year at June 30, 2013 and December 31, 2012, respectively.