GENERAL ELECTRIC CAPITAL CORP - FORM 8-K - EX-99 - October 16, 2015

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EXHIBIT 99

                               
                               
GENERAL ELECTRIC CAPITAL CORPORATION AND CONSOLIDATED AFFILIATES
 
 
CONDENSED STATEMENT OF EARNINGS (LOSS) (UNAUDITED)
                               
 
Three months ended September 30
  
Nine months ended September 30
(Dollars in millions)
  
2015
    
2014
  
V%
    
2015
    
2014
  
V%
                               
Revenues
                              
Revenues from services
$
6,290
  
$
6,356
      
$
17,388
  
$
19,134
    
Sales of goods
  
21
    
28
        
64
    
89
    
   Total revenues
  
6,312
    
6,384
  
(1)%
    
17,452
    
19,223
  
(9)%
                               
Costs and expenses
                              
Costs of sales, operating and administrative expense
  
2,936
    
2,882
        
8,613
    
8,086
    
Interest
  
1,151
    
1,061
        
3,096
    
3,184
    
Investment contracts, insurance losses and insurance
                              
  annuity benefits
  
717
    
700
        
2,070
    
2,041
    
Provision for losses on financing receivables
  
738
    
858
        
4,636
    
2,693
    
   Total costs and expenses
  
5,542
    
5,501
  
1%
    
18,415
    
16,004
  
15%
                               
Earnings (loss) from continuing operations before income taxes
  
769
    
883
  
(13)%
    
(963)
    
3,219
  
U
Benefit (provision) for income taxes
  
48
    
15
        
(6,164)
    
109
    
                               
Earnings (loss) from continuing operations
  
817
    
898
  
(9)%
    
(7,127)
    
3,328
  
U
Earnings (loss) from discontinued operations, net of taxes
  
(347)
    
706
        
(10,332)
    
2,070
    
                               
Net earnings (loss)
  
470
    
1,604
  
(71)%
    
(17,459)
    
5,398
  
U
 Less net earnings (loss) attributable to noncontrolling interests
  
83
    
55
        
267
    
76
    
Net earnings (loss) attributable to GECC
  
387
    
1,549
  
(75)%
    
(17,726)
    
5,322
  
U
Preferred stock dividends declared
  
-
    
-
        
(161)
    
(161)
    
Net earnings (loss) attributable to GECC common shareowner
$
387
  
$
1,549
  
(75)%
  
$
(17,887)
  
$
5,161
  
U
                               
Amounts attributable to GECC common shareowner:
                              
Earnings (loss) from continuing operations
$
817
  
$
898
  
(9)%
  
$
(7,127)
  
$
3,328
  
U
Less net earnings (loss) attributable to noncontrolling interests
  
83
    
55
        
267
    
76
    
Earnings (loss) from continuing operations attributable to GECC
  
734
    
843
  
(13)%
    
(7,394)
    
3,252
  
U
Preferred stock dividends declared
  
-
    
-
  
-%
    
(161)
    
(161)
  
 - %
Earnings (loss) from continuing operations attributable to GECC
                              
  common shareowner
  
734
    
843
  
(13)%
    
(7,555)
    
3,091
  
U
Earnings (loss) from discontinued operations, net of taxes
  
(347)
    
706
        
(10,332)
    
2,070
    
Net earnings (loss) attributable to GECC common shareowner
$
387
  
$
1,549
  
(75)%
  
$
(17,887)
  
$
5,161
  
U

Amounts may not add due to rounding.


                               
                               
GENERAL ELECTRIC CAPITAL CORPORATION AND CONSOLIDATED AFFILIATES
 
 
SUMMARY OF OPERATING SEGMENTS (UNAUDITED)
                               
 
Three months ended September 30
  
Nine months ended September 30
(Dollars in millions)
2015
  
2014
  
V%
  
2015
  
2014
  
V%
                               
Revenues
                              
Commercial Lending & Leasing
$
285
  
$
251
  
 14 %
  
$
790
  
$
743
  
 6 %
Consumer
  
3,652
    
3,622
  
 1 %
    
9,237
    
10,822
  
 (15)%
Energy Financial Services
  
225
    
344
  
 (35)%
    
906
    
1,120
  
 (19)%
GECAS
  
1,307
    
1,262
  
 4 %
    
3,935
    
3,952
  
-%
Total segment revenues
  
5,468
    
5,479
  
-%
    
14,867
    
16,637
  
 (11)%
GECC corporate items and eliminations
  
843
    
905
  
 (7)%
    
2,585
    
2,586
  
-%
Total revenues
$
6,312
  
$
6,384
  
 (1)%
  
$
17,452
  
$
19,223
  
 (9)%
                               
Segment profit (loss)
                              
Commercial Lending & Leasing
$
111
    
90
  
 23 %
  
$
286
  
$
252
  
 13 %
Consumer
  
795
    
621
  
 28 %
    
(1,521)
    
1,879
  
U
Energy Financial Services
  
(38)
    
61
  
U
    
106
    
290
  
 (63)%
GECAS
  
313
    
133
  
F
    
981
    
828
  
 18 %
Total segment profit (loss)
  
1,180
    
905
  
 30 %
    
(149)
    
3,249
  
U
GECC Corporate items and eliminations
  
(445)
    
(62)
  
U
    
(7,245)
    
3
  
U
Earnings (loss) from continuing operations,
                              
   attributable to GECC
  
734
    
843
  
 (13)%
    
(7,394)
    
3,252
  
U
Preferred stock dividends declared
  
-
    
-
  
-%
    
(161)
    
(161)
  
 -%
Earnings (loss) from continuing operations attributable
                              
   to GECC common shareowner
  
734
    
843
  
 (13)%
    
(7,555)
    
3,091
  
U
Earnings (loss) from discontinued operations, net of taxes,
                              
   attributable to GECC
  
(347)
    
706
  
U
    
(10,332)
    
2,070
  
U
Net earnings (loss) attributable to GECC common shareowner
$
387
  
$
1,549
  
 (75)%
  
$
(17,887)
  
$
5,161
  
U
                               
Amounts may not add due to rounding.



GENERAL ELECTRIC CAPITAL CORPORATION AND CONSOLIDATED AFFILIATES
 
 
CONDENSED STATEMENT OF FINANCIAL POSITION (UNAUDITED)
           
           
(Dollars in billions)
September 30, 2015
  
December 31, 2014
       
Assets
          
Cash & marketable securities
$
119.1
  
$
107.3
Inventories
  
0.1
    
0.1
Financing receivables - net
  
83.7
    
122.5
Property, plant and equipment - net
  
34.5
    
31.5
Goodwill & intangible assets - net
  
12.6
    
12.3
Other assets
  
33.2
    
37.7
Financing receivables held for sale
  
23.7
    
0.8
Assets of businesses held for sale
  
4.9
    
3.5
Assets of discontinued operations
  
121.9
    
186.9
Total assets
$
433.8
  
$
502.6
           
Liabilities and equity
          
Borrowings and bank deposits
$
255.7
  
$
298.3
Investment contracts, insurance liabilities and insurance annuity benefits
  
26.6
    
28.0
Other liabilities
  
36.2
    
34.7
Liabilities of businesses held for sale
  
0.3
    
2.4
Liabilities of discontinued operations
  
43.6
    
48.7
GECC shareowners' equity
  
68.2
    
87.5
Noncontrolling interests(a)
  
3.2
    
2.9
Total liabilities and equity
$
433.8
  
$
502.6
           
(a)
Included $2.4 billion related to the Synchrony Financial initial public offering.
Amounts may not add due to rounding.

GENERAL ELECTRIC CAPITAL CORP Reports