GECC Financing Receivables and Allowance for Losses on Financing Receivables (Tables)
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9 Months Ended |
Sep. 30, 2013
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Loans and Leases Receivable Disclosure [Abstract] |
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GECC financing receivables |
| At | | September 30, | | December 31, | (In millions) | 2013 | | 2012 | | | | | | | Loans, net of deferred income(a) | $ | 229,639 | | $ | 241,465 | Investment in financing leases, net of deferred income | | 29,736 | | | 32,471 | | | 259,375 | | | 273,936 | Less allowance for losses | | (5,152) | | | (4,985) | Financing receivables – net(b) | $ | 254,223 | | $ | 268,951 | | | | | | | | | | | | |
- Deferred income was $1,963 million and $2,182 million at September 30, 2013 and December 31, 2012, respectively.
- Financing receivables at September 30, 2013 and December 31, 2012 included $582 million and $750 million, respectively, relating to loans that had been acquired in a transfer but have been subject to credit deterioration since origination.
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Financing receivables |
| | | September 30, | | December 31, | (In millions) | 2013 | | 2012 | | | | | | | Commercial | | | | | | CLL | | | | | | Americas | $ | 69,240 | | $ | 72,517 | Europe(a) | | 35,529 | | | 37,037 | Asia | | 9,573 | | | 11,401 | Other(a) | | 468 | | | 603 | Total CLL | | 114,810 | | | 121,558 | | | | | | | Energy Financial Services | | 4,367 | | | 4,851 | | | | | | | GE Capital Aviation Services (GECAS) | | 9,642 | | | 10,915 | | | | | | | Other | | 393 | | | 486 | Total Commercial | | 129,212 | | | 137,810 | | | | | | | Real Estate | | 18,966 | | | 20,946 | | | | | | | Consumer | | | | | | Non-U.S. residential mortgages | | 31,142 | | | 33,451 | Non-U.S. installment and revolving credit | | 17,305 | | | 18,546 | U.S. installment and revolving credit | | 51,799 | | | 50,853 | Non-U.S. auto | | 3,524 | | | 4,260 | Other | | 7,427 | | | 8,070 | Total Consumer | | 111,197 | | | 115,180 | | | | | | | Total financing receivables | | 259,375 | | | 273,936 | | | | | | | Less allowance for losses | | (5,152) | | | (4,985) | Total financing receivables – net | $ | 254,223 | | $ | 268,951 | | | | | | | | | | | | |
- During the third quarter of 2013, we transferred our European equipment services portfolio from CLL Other to CLL Europe. Prior-period amounts were reclassified to conform to the current period presentation.
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Schedule of allowance for losses |
Allowance for Losses on Financing Receivables | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Balance at | | Provision | | | | | | | | Balance at | | January 1, | | charged to | | | | Gross | | | | September 30, | (In millions) | 2013 | | operations | | Other | (a) | write-offs | (b) | Recoveries | (b) | 2013 | | | | | | | | | | | | | | | | | | | Commercial | | | | | | | | | | | | | | | | | | CLL | | | | | | | | | | | | | | | | | | Americas | $ | 490 | | $ | 206 | | $ | (1) | | $ | (316) | | $ | 91 | | $ | 470 | Europe | | 445 | | | 205 | | | - | | | (369) | | | 61 | | | 342 | Asia | | 80 | | | 60 | | | (9) | | | (65) | | | 9 | | | 75 | Other | | 6 | | | (3) | | | - | | | (3) | | | - | | | - | Total CLL | | 1,021 | | | 468 | | | (10) | | | (753) | | | 161 | | | 887 | | | | | | | | | | | | | | | | | | | Energy Financial | | | | | | | | | | | | | | | | | | Services | | 9 | | | 2 | | | - | | | - | | | - | | | 11 | | | | | | | | | | | | | | | | | | | GECAS | | 8 | | | 2 | | | - | | | - | | | - | | | 10 | | | | | | | | | | | | | | | | | | | Other | | 3 | | | (1) | | | - | | | (2) | | | 2 | | | 2 | Total Commercial | | 1,041 | | | 471 | | | (10) | | | (755) | | | 163 | | | 910 | | | | | | | | | | | | | | | | | | | Real Estate | | 320 | | | (21) | | | (5) | | | (133) | | | 9 | | | 170 | | | | | | | | | | | | | | | | | | | Consumer | | | | | | | | | | | | | | | | | | Non-U.S. residential | | | | | | | | | | | | | | | | | | mortgages | | 480 | | | 137 | | | (2) | | | (216) | | | 40 | | | 439 | Non-U.S. installment | | | | | | | | | | | | | | | | | | and revolving | | | | | | | | | | | | | | | | | | credit | | 623 | | | 405 | | | (42) | | | (727) | | | 403 | | | 662 | U.S. installment and | | | | | | | | | | | | | | | | | | revolving credit | | 2,282 | | | 2,198 | | | (50) | | | (2,118) | | | 409 | | | 2,721 | Non-U.S. auto | | 67 | | | 51 | | | (11) | | | (96) | | | 56 | | | 67 | Other | | 172 | | | 97 | | | 4 | | | (149) | | | 59 | | | 183 | Total Consumer | | 3,624 | | | 2,888 | | | (101) | | | (3,306) | | | 967 | | | 4,072 | Total | $ | 4,985 | | $ | 3,338 | | $ | (116) | | $ | (4,194) | | $ | 1,139 | | $ | 5,152 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
- Other primarily included the effects of currency exchange.
- Net write-offs (gross write-offs less recoveries) in certain portfolios may exceed the beginning allowance for losses as a result of losses that are incurred subsequent to the beginning of the fiscal year due to information becoming available during the current year, which may identify further deterioration on existing financing receivables.
| Balance at | | Provision | | | | | | | | Balance at | | January 1, | | charged to | | | | Gross | | | | September 30, | (In millions) | 2012 | | operations | | Other | (a) | write-offs | (b) | Recoveries | (b) | 2012 | | | | | | | | | | | | | | | | | | | Commercial | | | | | | | | | | | | | | | | | | CLL | | | | | | | | | | | | | | | | | | Americas | $ | 889 | | $ | 67 | | $ | (43) | | $ | (423) | | $ | 77 | | $ | 567 | Europe | | 400 | | | 271 | | | (3) | | | (142) | | | 48 | | | 574 | Asia | | 157 | | | 13 | | | (1) | | | (117) | | | 20 | | | 72 | Other | | 4 | | | 9 | | | (1) | | | (10) | | | - | | | 2 | Total CLL | | 1,450 | | | 360 | | | (48) | | | (692) | | | 145 | | | 1,215 | | | | | | | | | | | | | | | | | | | Energy Financial | | | | | | | | | | | | | | | | | | Services | | 26 | | | 8 | | | - | | | (24) | | | 3 | | | 13 | | | | | | | | | | | | | | | | | | | GECAS | | 17 | | | 7 | | | (1) | | | (11) | | | - | | | 12 | | | | | | | | | | | | | | | | | | | Other | | 37 | | | 3 | | | (19) | | | (13) | | | 1 | | | 9 | Total Commercial | | 1,530 | | | 378 | | | (68) | | | (740) | | | 149 | | | 1,249 | | | | | | | | | | | | | | | | | | | Real Estate | | 1,089 | | | 101 | | | (7) | | | (455) | | | 8 | | | 736 | | | | | | | | | | | | | | | | | | | Consumer | | | | | | | | | | | | | | | | | | Non-U.S. residential | | | | | | | | | | | | | | | | | | mortgages | | 546 | | | 66 | | | 5 | | | (213) | | | 63 | | | 467 | Non-U.S. installment | | | | | | | | | | | | | | | | | | and revolving credit | | 717 | | | 270 | | | 22 | | | (798) | | | 443 | | | 654 | U.S. installment and | | | | | | | | | | | | | | | | | | revolving credit | | 2,008 | | | 1,807 | | | (18) | | | (2,140) | | | 373 | | | 2,030 | Non-U.S. auto | | 101 | | | 18 | | | (7) | | | (110) | | | 71 | | | 73 | Other | | 199 | | | 88 | | | 15 | | | (193) | | | 62 | | | 171 | Total Consumer | | 3,571 | | | 2,249 | | | 17 | | | (3,454) | | | 1,012 | | | 3,395 | Total | $ | 6,190 | | $ | 2,728 | | $ | (58) | | $ | (4,649) | | $ | 1,169 | | $ | 5,380 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
- Other primarily included transfers to held for sale and the effects of currency exchange.
- Net write-offs (gross write-offs less recoveries) in certain portfolios may exceed the beginning allowance for losses as a result of losses that are incurred subsequent to the beginning of the fiscal year due to information becoming available during the current year, which may identify further deterioration on existing financing receivables.
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