BUSINESSES HELD FOR SALE AND DISCONTINUED OPERATIONS (Tables)

6 Months Ended

Jun. 30, 2017

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Financial Information for Assets and Liabilities of Businesses Held For Sale and Discontinued Operations

FINANCIAL INFORMATION FOR DISCONTINUED OPERATIONS
	Three months ended June 30						Six months ended June 30
(In millions)	2017			2016			2017			2016
Operations
Total revenues and other income (loss)	$	9		$	568		$	88		$	1,861
Earnings (loss) from discontinued operations before income taxes	$	(216	)	$	(240	)	$	(412	)	$	(160	)
Benefit (provision) for income taxes (a)	66			170			128			182
Earnings (loss) from discontinued operations, net of taxes	$	(150	)	$	(70	)	$	(284	)	$	22
Disposal
Gain (loss) on disposal before income taxes	$	8		$	(295	)	$	(19	)	$	(540	)
Benefit (provision) for income taxes (a)	(3		)	(177		)	(81		)	(331		)
Gain (loss) on disposal, net of taxes	$	4		$	(472	)	$	(100	)	$	(871	)
Earnings (loss) from discontinued operations, net of taxes(b)(c)	$	(146	)	$	(541	)	$	(385	)	$	(849	)

(a) GE Capital's total tax benefit (provision) for discontinued operations and disposals included current tax benefit (provision) of $253 million and $(47) million for the three months ended June 30, 2017 and 2016, respectively, and $(323) million and $(881) million for the six months ended June 30, 2017 and 2016, respectively, including current U.S. Federal tax benefit (provision) of $68 million and $29 million for the three months ended June 30, 2017 and 2016, respectively, and $(519) million and $(471) million for the six months ended June 30, 2017 and June 30, 2016, respectively. The deferred tax benefit (provision) was $(190) million and $40 million for the three months ended June 30, 2017 and 2016, respectively, and $370 million and $732 million for the six months ended June 30, 2017 and June 30, 2016, respectively.

(b) The sum of GE Industrial earnings (loss) from discontinued operations, net of taxes, and GE Capital earnings (loss) from discontinued operations, net of taxes, after adjusting for earnings (loss) attributable to noncontrolling interests related to discontinued operations, is reported within earnings (loss) from discontinued operations, net of taxes, in the GE Industrial column of the Consolidated Statement of Earnings (Loss).

(c) Earnings (loss) from discontinued operations attributable to the Company, before income taxes, was $(215) million and $(537) million for the three months ended June 30, 2017 and 2016, respectively, and $(438) million and $(703) million for the six months ended June 30, 2017 and 2016, respectively.

(In millions)	June 30, 2017		December 31, 2016
Assets
Cash and equivalents	$	522	$	1,429
Investment securities	1,729		2,626
Deferred income taxes	950		487
Financing receivables held for sale	3,711		8,547
Other assets	938		1,727
Assets of discontinued operations	$	7,850	$	14,815
Liabilities
Accounts payable	87		164
Borrowings	—		2,076
Other liabilities	825		1,918
Liabilities of discontinued operations	$	911	$	4,158

FINANCIAL INFORMATION FOR ASSETS AND LIABILITIES OF BUSINESSES HELD FOR SALE
(In millions)	June 30, 2017		December 31, 2016
Assets
Current receivables(a)	$	698	$	366
Inventories	579		211
Property, plant, and equipment – net	1,034		632
Goodwill	1,258		212
Other intangible assets – net	237		123
Contract assets	195		125
Other	96		76
Assets of businesses held for sale	$	4,096	$	1,745
Liabilities
Accounts payable	$	394	$	190
Progress collections and price adjustments accrued	155		141
Other current liabilities	264		133
Non-current compensation and benefits	219		82
Other	162		110
Liabilities of businesses held for sale	$	1,195	$	656

(a) Included transactions in our industrial businesses that were made on an arms-length basis with GE Capital, consisting of GE customer receivables sold to GE Capital of $280 million and $117 million at June 30, 2017 and December 31, 2016, respectively. These intercompany balances included within our held for sale businesses are reported in the GE and GE Capital columns of our financial statements, but are eliminated in deriving our consolidated financial statements.