Variable Interest Entities (Tables)

6 Months Ended

Jun. 30, 2015

Variable Interest Entities [Abstract]

ASSETS AND LIABILITIES OF CONSOLIDATED VIEs

			Consolidated Securitization Entities(b)
					Trade
(In millions)	Trinity(a)		Credit cards		receivables			Other		Total

June 30, 2015
Assets(c)
Financing receivables, net	$	-	$	24,199	$	-		$	898	$	25,097
Current receivables		-		-		3,148	(d)		458		3,606
Investment securities		2,203		-		-			983		3,186
Other assets		154		143		2			2,019		2,318
Total	$	2,357	$	24,342	$	3,150		$	4,358	$	34,207

Liabilities(c)
Borrowings	$	-	$	-	$	-		$	621	$	621
Non-recourse borrowings		-		13,948		2,704			339		16,991
Other liabilities		986		18		34			1,342		2,380
Total	$	986	$	13,966	$	2,738		$	2,302	$	19,992

December 31, 2014
Assets(c)
Financing receivables, net	$	-	$	25,645	$	-		$	1,030	$	26,675
Current receivables		-		-		3,028	(d)		509		3,537
Investment securities		2,369		-		-			1,005		3,374
Other assets		17		1,059		2			2,345		3,423
Total	$	2,386	$	26,704	$	3,030		$	4,889	$	37,009

Liabilities(c)
Borrowings	$	-	$	-	$	-		$	517	$	517
Non-recourse borrowings		-		14,967		2,692			436		18,095
Other liabilities		1,022		332		26			1,490		2,870
Total	$	1,022	$	15,299	$	2,718		$	2,443	$	21,482

Excluded intercompany advances from GECC to Trinity, which were eliminated in consolidation of $1,138 million and $1,565 million at June 30, 2015 and December 31, 2014, respectively.
We provide servicing to the CSEs and are contractually permitted to commingle cash collected from customers on financing receivables sold to CSE investors with our own cash prior to payment to a CSE, provided our short-term credit rating does not fall below A-1/P-1. These CSEs also owe us amounts for purchased financial assets and scheduled interest and principal payments. At June 30, 2015 and December 31, 2014, the amounts of commingled cash owed to the CSEs were $921 million and $1,091 million, respectively, and the amounts owed to us by CSEs were $193 million and $391 million, respectively.
Asset amounts exclude intercompany receivables for cash collected on behalf of the entities by GECC as servicer, which are eliminated in consolidation. Such receivables provide the cash to repay the entities’ liabilities. If these intercompany receivables were included in the table above, assets would be higher. In addition, other assets, borrowings and other liabilities exclude intercompany balances that are eliminated in consolidation.
Included $785 million and $686 million of receivables at June 30, 2015 and December 31, 2014, respectively, originated by Appliances. We require third party debt holder consent to sell these assets. The receivables will be included in assets of businesses held for sale when the consent is received.

Unconsolidated VIE

INVESTMENTS IN UNCONSOLIDATED VIEs

(In millions)	June 30, 2015		December 31, 2014

Other assets and investment securities	$	689	$	806
Financing receivables – net		113		120
Total investments		802		926
Contractual obligations to fund investments, guarantees or revolving lines of credit		39		37
Total	$	841	$	963

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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