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Borrowings and Bank Deposits (Tables)
6 Months Ended
Jun. 30, 2015
Debt Disclosure [Abstract]  
GECC Borrowings
(In millions)June 30, 2015December 31, 2014
Short-term borrowings
GE
Commercial paper$1,000$500
Payable to banks548343
Current portion of long-term borrowings2,0572,068
Other1,082961
Total GE short-term borrowings4,6873,872
GECC
Commercial paper(a)
   U.S.21,90622,019
   Non-U.S.3,1072,993
Current portion of long-term borrowings(a)(b)(c)36,16336,995
GE Interest Plus notes(d)2,4995,467
Other(c)463231
Total GECC short-term borrowings64,13867,705
Eliminations(1,003)(863)
Total short-term borrowings$67,822$70,714
Long-term borrowings
GE
Senior notes$15,473$11,945
Payable to banks765
Other381518
Total GE long-term borrowings15,93012,468
GECC
Senior unsecured notes(a)(b)(e)149,278162,194
Subordinated notes(a)4,6594,804
Subordinated debentures(a)(f)6,7747,085
Other(a)(c)(g)8,75012,676
Total GECC long-term borrowings169,461186,759
Eliminations(40)(45)
Total long-term borrowings$185,351$199,182
Non-recourse borrowings of consolidated securitization entities(h) $16,991$19,369
Bank deposits(i)$45,799$43,841
Total borrowings and bank deposits$315,963$333,106

  • On April 10, 2015, GE announced it would provide a full and unconditional guarantee on the payment of the principal and interest on all tradable senior and subordinated outstanding long-term debt securities and all commercial paper issued or guaranteed by GECC. Short-term borrowings included $25,013 million of commercial paper and $33,237 million of the current portion of long-term borrowings. Long-term borrowings included $137,719 million of senior unsecured notes, $3,975 million of subordinated notes, $6,774 million of subordinated debentures, and $400 million of other.
  • Included $433 million and $439 million of obligations to holders of GICs at June 30, 2015 and December 31, 2014, respectively. These obligations included conditions under which certain GIC holders could require immediate repayment of their investment should the long-term credit ratings of GECC fall below AA-/Aa3. The remaining outstanding GICs will continue to be subject to their scheduled maturities and individual terms, which may include provisions permitting redemption upon a downgrade of one or more of GECC’s ratings, among other things.
  • Included $5,193 million and $4,835 million of funding secured by real estate, aircraft and other collateral at June 30, 2015 and December 31, 2014, respectively, of which $1,234 million and $1,183 million is non-recourse to GECC at June 30, 2015 and December 31, 2014, respectively.
  • Entirely variable denomination floating-rate demand notes.
  • Included $4,593 million related to Synchrony Financial.
  • Subordinated debentures receive rating agency equity credit.
  • Included $5,151 million related to Synchrony Financial.
  • Included $2,899 million and $3,377 million of current portion of long-term borrowings at June 30, 2015 and December 31, 2014, respectively. See Note 16.
  • Included $8,028 million and $8,905 million of deposits in non-U.S. banks at June 30, 2015 and December 31, 2014, respectively, and $15,622 million and $14,500 million of certificates of deposits with maturities greater than one year at June 30, 2015 and December 31, 2014, respectively.