GENERAL ELECTRIC CAPITAL SERVICES INC/CT
CIK:0000797463|SEC Filings
Condensed Statement of Cash Flows (Unaudited) (USD $) In Millions | 9 Months Ended | |
|---|---|---|
Sep. 30, 2011 | Sep. 30, 2010 | |
| Cash flows - operating activities | ||
| Net earnings | $ 5,179 | $ 505 |
| Less net earnings attributable to noncontrolling interests | 89 | (9) |
| Net earnings (loss) attributable to the Company | 5,090 | 514 |
| (Earnings) loss from discontinued operations, net of taxes | (276) | 1,502 |
| Adjustments to reconcile net earnings attributable to the Company to cash provided from operating activities | ||
| Depreciation and amortization | 5,405 | 5,781 |
| Increase (decrease) in accounts payable | 1,103 | 664 |
| Provision for losses on financing receivables | 2,988 | 5,824 |
| All other operating activities | 2,330 | 1,200 |
| Cash from (used for) operating activities - continuing operations | 16,640 | 15,485 |
| Cash from (used for) operating activities - discontinued operations | 834 | 850 |
| Cash from (used for) operating activities | 17,474 | 16,335 |
| Cash flows - investing activities | ||
| Additions to property, plant and equipment | (7,149) | (3,113) |
| Dispositions of property, plant and equipment | 4,637 | 3,097 |
| Increase in loans to customers | (234,537) | (220,665) |
| Principal collections from customers - loans | 249,444 | 238,998 |
| Investment in equipment for financing leases | (6,920) | (6,796) |
| Principal collections from customers - financing leases | 9,797 | 11,519 |
| Net change in credit card receivables | 746 | 577 |
| Proceeds from sales of discontinued operations | 8,951 | 0 |
| Proceeds from principal business dispositions | 2,117 | 905 |
| Payments for principal businesses purchased | (50) | (561) |
| All other investing activities | 4,226 | 11,084 |
| Cash from (used for) investing activities - continuing operations | 31,262 | 35,045 |
| Cash from (used for) investing activities - discontinued operations | (802) | (234) |
| Cash from (used for) investing activities | 30,460 | 34,811 |
| Cash flows - financing activities | ||
| Net increase (decrease) in borrowings (maturities of 90 days or less) | (1,893) | (823) |
| Net increase (decrease) in bank deposits | 3,746 | 3,982 |
| Newly issued debt (maturities longer than 90 days) | ||
| Short-term (91 to 365 days) | 10 | 487 |
| Long-term (longer than one year) | 33,798 | 26,513 |
| Non-recourse, leveraged lease | 0 | 0 |
| Repayments and other reductions (maturities longer than 90 days) | ||
| Short-term (91 to 365 days) | (58,005) | (73,326) |
| Long-term (longer than one year) | (1,603) | (1,681) |
| Non-recourse, leveraged lease | (640) | (544) |
| Dividends paid to shareowners | 0 | 0 |
| All other financing activities | (1,336) | (2,404) |
| Cash from (used for) financing activities - continuing operations | (25,923) | (47,796) |
| Cash from (used for) financing activities - discontinued operations | (42) | (719) |
| Cash from (used for) financing activities | (25,965) | (48,515) |
| Effect of currency exchange rate changes on cash and equivalents | 1,042 | (1,037) |
| Increase (decrease) in cash and equivalents | 23,011 | 1,594 |
| Cash and equivalents at beginning of year | 60,398 | 64,540 |
| Cash and equivalents at September 30 | 83,409 | 66,134 |
| Less cash and equivalents of discontinued operations at September 30 | 131 | 1,865 |
| Cash and equivalents of continuing operations at September 30 | $ 83,278 | $ 64,269 |
Condensed Statement of Financial Position (Unaudited) (USD $) In Millions | Sep. 30, 2011 | Dec. 31, 2010 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash and equivalents | $ 83,278 | $ 60,257 | ||||||||
| Investment securities (Note 3) | 46,442 | 43,921 | ||||||||
| Inventories | 44 | 66 | ||||||||
| Financing receivables - net (Notes 4 and 12) | 293,737 | 312,234 | ||||||||
| Other receivables | 13,689 | 14,304 | ||||||||
| Property, plant and equipment, less accumuatled amorizations of $24,307 and $25,404 | 52,328 | 53,768 | ||||||||
| Goodwill (Note 5) | 27,726 | 27,508 | ||||||||
| Other intangible assets - net (Note 5) | 1,710 | 1,883 | ||||||||
| All other assets | 79,542 | 79,240 | ||||||||
| Assets of businesses held for sale (Note 2) | 3,050 | 3,127 | ||||||||
| Assets of discontinued operations (Note 2) | 1,516 | 12,375 | ||||||||
| Total assets(a) | 603,062 | [1] | 608,683 | [1] | ||||||
| Liabilities and equity | ||||||||||
| Short-term borrowings (Note 6) | 126,866 | 118,797 | ||||||||
| Accounts payable | 7,995 | 7,035 | ||||||||
| Non-recourse borrowings of consolidated securitization entities (Note 6) | 29,022 | 30,018 | ||||||||
| Bank deposits (Note 6) | 41,515 | 37,298 | ||||||||
| Long-term borrowings (Note 6) | 259,404 | 284,407 | ||||||||
| Investment contracts, insurance liabilities and insurance annuity benefits | 30,405 | 29,993 | ||||||||
| Other liabilities | 22,881 | 20,982 | ||||||||
| Deferred income taxes | 4,440 | 6,990 | ||||||||
| Liabilities of businesses held for sale (Note 2) | 1,813 | 592 | ||||||||
| Liabilities of discontinued operations (Note 2) | 1,557 | 2,423 | ||||||||
| Total liabilities(b) | 525,898 | [1] | 538,535 | [1] | ||||||
| Capital Stock | 11 | 11 | ||||||||
| Accumulated other comprehensive income - net(b) | ||||||||||
| Investment securities | (188) | [2] | (639) | [2] | ||||||
| Currency translation adjustments | 303 | [2] | (1,411) | [2] | ||||||
| Cash flow hedges | (1,588) | [2] | (1,281) | [2] | ||||||
| Benefit plans | (353) | [2] | (380) | [2] | ||||||
| Additional paid-in capital | 27,616 | 27,616 | ||||||||
| Retained earnings | 50,158 | 45,068 | ||||||||
| Total Company shareowners' equity | 75,959 | 68,984 | ||||||||
| Noncontrolling interests(c) | 1,205 | [3] | 1,164 | [3] | ||||||
| Total equity | 77,164 | 70,148 | ||||||||
| Total liabilities and equity | $ 603,062 | $ 608,683 | ||||||||
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