Attached files
| file | filename |
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| 8-K - GENERAL ELECTRIC CAPITAL CORP | gecc8k1q15.htm |
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GENERAL ELECTRIC CAPITAL CORPORATION AND CONSOLIDATED AFFILIATES
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CONDENSED STATEMENT OF EARNINGS (LOSS)
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(unaudited)
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Three months ended March 31
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(Dollars in millions)
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2015
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2014
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V%
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Revenues
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Revenues from services
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$
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5,961
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$
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9,858
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|||||||||||||
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Sales of goods
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21
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27
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Total revenues
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5,982
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9,885
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(39)%
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Costs and expenses
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Costs of sales, operating and administrative expense
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5,129
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4,366
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Interest
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1,651
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1,887
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Investment contracts, insurance losses and insurance
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annuity benefits
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644
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643
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Provision for losses on financing receivables
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4,859
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984
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Total costs and expenses
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12,283
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7,880
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56%
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Earnings (loss) from continuing operations before
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income taxes
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(6,301)
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2,005
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U
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Benefit (provision) for income taxes
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(6,152)
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(301)
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Earnings (loss) from continuing operations
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(12,453)
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1,704
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U
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||||||||||||||
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Earnings (loss) from discontinued operations, net of taxes
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(2,201)
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252
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|||||||||||||||
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Net earnings (loss)
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(14,654)
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1,956
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U
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Less net earnings (loss) attributable to
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noncontrolling interests
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91
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11
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Net earnings (loss) attributable to GECC
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(14,745)
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1,945
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U
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||||||||||||||
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Preferred stock dividends declared
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-
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-
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Net earnings (loss) attributable to
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GECC common shareowner
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$
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(14,745)
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$
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1,945
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U
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Amounts attributable to GECC common shareowner:
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Earnings (loss) from continuing operations
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$
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(12,453)
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$
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1,704
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U
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||||||||||||
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Less net earnings (loss) attributable to
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noncontrolling interests
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91
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11
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Earnings (loss) from continuing operations attributable to GECC
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(12,544)
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1,693
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U
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||||||||||||||
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Preferred stock dividends declared
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-
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-
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|||||||||||||||
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Earnings (loss) from continuing operations attributable to GECC
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common shareowner
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(12,544)
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1,693
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U
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Earnings (loss) from discontinued operations, net of taxes
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(2,201)
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252
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|||||||||||||||
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Net earnings (loss) attributable to GECC
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common shareowner
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$
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(14,745)
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$
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1,945
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U
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GENERAL ELECTRIC CAPITAL CORPORATION AND CONSOLIDATED AFFILIATES
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SUMMARY OF OPERATING SEGMENTS
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(unaudited)
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Three months ended March 31
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(Dollars in millions)
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2015
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2014
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V%
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Revenues
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Commercial Lending & Leasing
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$
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1,556
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$
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3,582
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(57)%
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Consumer
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2,058
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3,602
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(43)%
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Energy Financial Services
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285
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469
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(39)%
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GECAS
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1,282
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1,345
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(5)%
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Total segment revenues
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5,181
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8,998
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(42)%
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GECC corporate items and eliminations
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801
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887
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(10)%
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Total revenues
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$
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5,982
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$
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9,885
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(39)%
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Segment profit (loss)
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Commercial Lending & Leasing
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$
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(3,847)
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$
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564
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U
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Consumer
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(2,775)
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786
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U
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Energy Financial Services
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35
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153
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(77)%
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GECAS
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307
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352
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(13)%
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Total segment profit (loss)
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(6,280)
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1,855
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U
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GECC Corporate items and eliminations
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(6,264)
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(162)
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U
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Earnings (loss) from continuing operations attributable to GECC
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(12,544)
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1,693
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U
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|||||||||||||
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Preferred stock dividends declared
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-
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-
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-
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|||||||||||||
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Earnings (loss) from continuing operations attributable to GECC common shareowner
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(12,544)
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1,693
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U
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|||||||||||||
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Earnings (loss) from discontinued operations, net of taxes, attributable to GECC
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(2,201)
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252
|
U
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|||||||||||||
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Net earnings (loss) attributable to GECC
common shareowner
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$
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(14,745)
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$
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1,945
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U
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GENERAL ELECTRIC CAPITAL CORPORATION AND CONSOLIDATED AFFILIATES
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|||||
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CONDENSED STATEMENT OF FINANCIAL POSITION
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(unaudited)
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(Dollars in billions)
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March 31, 2015
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December 31, 2014
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Assets
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Cash & marketable securities
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$
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115.5
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$
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121.6
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Inventories
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-
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0.1
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|||
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Financing receivables - net
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78.1
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217.4
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|||
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Property, plant and equipment - net
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45.1
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49.4
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|||
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Goodwill & intangible assets - net
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20.9
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25.6
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|||
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Other assets
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39.0
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45.2
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|||
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Financing receivables held for sale
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93.0
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1.8
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|||
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Assets of businesses held for sale
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53.6
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3.5
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|||
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Assets of discontinued operations
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31.3
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36.8
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Total assets
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$
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476.5
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$
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501.4
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Liabilities and equity
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Borrowings and bank deposits
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$
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335.9
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$
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349.0
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Investment contracts, insurance liabilities and insurance annuity benefits
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28.2
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28.0
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|||
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Other liabilities
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30.4
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29.5
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|||
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Liabilities of businesses held for sale
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6.3
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2.4
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|||
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Liabilities of discontinued operations
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2.0
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2.1
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|||
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GECC shareowners' equity
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70.7
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87.5
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|||
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Noncontrolling interests(a)
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3.0
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2.9
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|||
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Total liabilities and equity
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$
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476.5
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$
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501.4
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(a)
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Included $2.4 billion related to the Synchrony Financial initial public offering.
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