Attached files
| file | filename |
|---|---|
| 8-K - GECC 8-K 10-19-2012 - GENERAL ELECTRIC CAPITAL CORP | gecc8k.htm |
Exhibit 99
General Electric Capital Corporation
Condensed Statement of Earnings
|
Three months ended September 30,
|
Nine months ended September 30,
|
||||||||||||||||
|
(In millions, Unaudited)
|
2012
|
2011
|
V
|
%
|
2012
|
2011
|
V
|
%
|
|||||||||
|
Revenues
|
|||||||||||||||||
|
Revenues from services
|
$
|
11,335
|
$
|
11,983
|
$
|
34,179
|
$
|
37,375
|
|||||||||
|
Sales of goods
|
34
|
32
|
90
|
116
|
|||||||||||||
|
Total revenues
|
11,369
|
12,015
|
(5)
|
%
|
34,269
|
37,491
|
(9)
|
%
|
|||||||||
|
Costs and expenses
|
|||||||||||||||||
|
Costs of sales, operating and administrative expenses
|
4,867
|
5,127
|
14,275
|
15,699
|
|||||||||||||
|
Interest
|
2,805
|
3,556
|
8,989
|
10,738
|
|||||||||||||
|
Investment contracts, insurance losses and insurance
|
|||||||||||||||||
|
annuity benefits
|
798
|
755
|
2,271
|
2,314
|
|||||||||||||
|
Provision for losses on financing receivables
|
1,122
|
961
|
2,728
|
2,893
|
|||||||||||||
|
Total costs and expenses
|
9,592
|
10,399
|
(8)
|
%
|
28,263
|
31,644
|
(11)
|
%
|
|||||||||
|
Earnings from continuing operations before
|
|||||||||||||||||
|
income taxes
|
1,777
|
1,616
|
10
|
%
|
6,006
|
5,847
|
3
|
%
|
|||||||||
|
Benefit (provision) for income taxes
|
(78)
|
(59)
|
(367)
|
(834)
|
|||||||||||||
|
Earnings from continuing operations
|
1,699
|
1,557
|
9
|
%
|
5,639
|
5,013
|
12
|
%
|
|||||||||
|
Earnings (loss) from discontinued operations,
|
|||||||||||||||||
|
net of taxes
|
(111)
|
(64)
|
(881)
|
166
|
|||||||||||||
|
Net earnings
|
1,588
|
1,493
|
6
|
%
|
4,758
|
5,179
|
(8)
|
%
|
|||||||||
|
Less net earnings attributable to
|
|||||||||||||||||
|
noncontrolling interests
|
20
|
38
|
46
|
89
|
|||||||||||||
|
Net earnings attributable to GECC
|
$
|
1,568
|
$
|
1,455
|
8
|
%
|
$
|
4,712
|
$
|
5,090
|
(7)
|
%
|
|||||
|
Amounts attributable to GECC:
|
|||||||||||||||||
|
Earnings from continuing operations
|
$
|
1,679
|
$
|
1,519
|
11
|
%
|
$
|
5,593
|
$
|
4,924
|
14
|
%
|
|||||
|
Earnings (loss) from discontinued operations, net of taxes
|
(111)
|
(64)
|
(881)
|
166
|
|||||||||||||
|
Net earnings attributable to GECC
|
$
|
1,568
|
$
|
1,455
|
8
|
%
|
$
|
4,712
|
$
|
5,090
|
(7)
|
%
|
|||||
(1)
General Electric Capital Corporation
Summary of Operating Segments
|
Three months ended September 30,
|
Nine months ended September 30,
|
||||||||||||||||
|
(In millions, Unaudited)
|
2012
|
2011
|
V
|
%
|
2012
|
2011
|
V
|
%
|
|||||||||
|
Revenues
|
|||||||||||||||||
|
Commercial Lending and Leasing (CLL)
|
$
|
4,124
|
$
|
4,512
|
(9)
|
% |
$
|
12,707
|
$
|
13,786
|
(8)
|
% | |||||
|
Consumer
|
3,911
|
4,028
|
(3)
|
% |
11,600
|
13,023
|
(11)
|
% | |||||||||
|
Real Estate
|
948
|
935
|
1
|
% |
2,660
|
2,834
|
(6)
|
% | |||||||||
|
Energy Financial Services
|
401
|
221
|
81
|
% |
1,086
|
931
|
17
|
% | |||||||||
|
GE Capital Aviation Services (GECAS)
|
1,249
|
1,265
|
(1)
|
% |
3,897
|
3,917
|
(1)
|
% | |||||||||
|
Total segment revenues
|
10,633
|
10,961
|
(3)
|
% |
31,950
|
34,491
|
(7)
|
% | |||||||||
|
GECC corporate items and eliminations
|
736
|
1,054
|
(30)
|
% |
2,319
|
3,000
|
(23)
|
% | |||||||||
|
Total revenues
|
$
|
11,369
|
$
|
12,015
|
(5)
|
% |
$
|
34,269
|
$
|
37,491
|
(9)
|
% | |||||
|
Segment profit
|
|||||||||||||||||
|
CLL
|
$
|
568
|
$
|
688
|
(17)
|
% |
$
|
1,879
|
$
|
1,943
|
(3)
|
% | |||||
|
Consumer
|
749
|
803
|
(7)
|
% |
2,485
|
3,086
|
(19)
|
% | |||||||||
|
Real Estate
|
217
|
(82)
|
F
|
494
|
(775)
|
F
|
|||||||||||
|
Energy Financial Services
|
132
|
79
|
67
|
% |
325
|
330
|
(2)
|
% | |||||||||
|
GECAS
|
251
|
208
|
21
|
% |
877
|
835
|
5
|
% | |||||||||
|
Total segment profit
|
1,917
|
1,696
|
13
|
% |
6,060
|
5,419
|
12
|
% | |||||||||
|
GECC corporate items and eliminations
|
(238)
|
(177)
|
(34)
|
% |
(467)
|
(495)
|
6
|
% | |||||||||
|
Earnings from continuing operations
|
|||||||||||||||||
|
attributable to GECC
|
1,679
|
1,519
|
11
|
% |
5,593
|
4,924
|
14
|
% | |||||||||
|
Earnings (loss) from discontinued operations,
|
|||||||||||||||||
|
net of taxes, attributable to GECC
|
(111)
|
(64)
|
(73)
|
% |
(881)
|
166
|
U
|
||||||||||
|
Net earnings attributable to GECC
|
$
|
1,568
|
$
|
1,455
|
8
|
% |
$
|
4,712
|
$
|
5,090
|
(7)
|
% | |||||
(2)
General Electric Capital Corporation
Condensed Statement of Financial Position
|
September 30,
|
December 31,
|
||||
|
(In billions, Unaudited)
|
2012
|
2011
|
|||
|
Assets
|
|||||
|
Cash & marketable securities
|
$
|
126.4
|
$
|
124.1
|
|
|
Inventories
|
0.1
|
0.1
|
|||
|
Financing receivables - net
|
271.6
|
288.8
|
|||
|
Property, plant & equipment - net
|
52.3
|
51.4
|
|||
|
Goodwill & intangible assets
|
28.7
|
28.8
|
|||
|
Other assets
|
78.6
|
88.9
|
|||
|
Assets of businesses held for sale
|
2.7
|
0.7
|
|||
|
Assets of discontinued operations
|
1.2
|
1.7
|
|||
|
Total assets
|
$
|
561.6
|
$
|
584.5
|
|
|
Liabilities and equity
|
|||||
|
Borrowings and bank deposits
|
$
|
420.4
|
$
|
443.1
|
|
|
Investment contracts, insurance liabilities and insurance annuity benefits
|
28.8
|
30.2
|
|||
|
Other liabilities
|
28.4
|
31.6
|
|||
|
Liabilities of businesses held for sale
|
0.2
|
0.3
|
|||
|
Liabilities of discontinued operations
|
1.8
|
1.5
|
|||
|
GECC shareowners' equity
|
81.3
|
77.1
|
|||
|
Noncontrolling interests
|
0.7
|
0.7
|
|||
|
Total liabilities and equity
|
$
|
561.6
|
$
|
584.5
|
|
(3)